Capital Relocation & Residency – Ukraine to Italy
Background
A Ukrainian client approached Noira Advisory after selling his residential property in Kyiv. He was left with €80,000 in cash, which he wanted to transfer safely into the European banking system. His second priority was to obtain a European residency permit to secure mobility, stability, and long-term planning options.
Challenges
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Cash-intensive nature of the asset, which raised compliance and banking risks.
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Need to ensure that the transfer complied with both Ukrainian and Italian financial regulations.
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The client’s concern about potential taxation in Italy upon depositing the funds.
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Requirement to obtain residency in a way that was fast, compliant, and cost-efficient.
Our Solution
Noira Advisory designed a fully compliant, step-by-step strategy:
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Cash legalization process: Structured documentation was prepared to demonstrate the legal origin of funds from the Ukrainian property sale.
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Banking integration: We onboarded the client with a mid-sized Italian bank that was open to cross-border clients, ensuring smooth KYC/AML clearance.
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Tax optimization: Through careful planning, we leveraged Italian residency rules to deposit the funds without triggering additional taxation.
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Residency application: We prepared and executed the full residenza elettiva (elective residency) process, aligning financial proof with immigration requirements.
Result
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The client successfully deposited €80,000 into his Italian bank account with zero taxation.
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Residency permit was granted within 90 days, providing full EU mobility rights.
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Entire process was conducted in strict alignment with both Ukrainian and Italian regulations, ensuring zero compliance risks.
Impact
This case demonstrates that even relatively modest sums, if structured correctly, can be transferred across borders without tax leakage, while simultaneously securing EU residency.