I am new to this site and am not sure

09/14/2014 - 17:19

I am new to this site and am not sure if this question can be answered. I have recently received my dual citizenship (�� and US) and am in the process of acquiring my husbands through our marriage. We are very eager to start the next chapter of our lives living abroad in Italy. We are looking to possibly purchase a business. My question is this....since the rate of exchange from US to Euro is an approximate 30% loss, ....when your talking high numbers, say $500,000 US, that now reduces our investment to approximately $350,000 US. Is there something I am missing? Is it just bad timing that the rate of exchange is not favorable? As an �� citizen is there something else I could do? Is my timing bad? Any suggestions or recommendations would be greatly appreciated.

Topic

Living

Comment

Its just bad timing, and there is nothing you can do - the exchange rate is what it is. As an �� there is nothing you can do, they are all in the same boat.!

Yes, a business investment of 350,000 euro will cost you about $500,000. The good news is that the euro is trending down against the dollar; so things may improve a bit more. Also, the economy in Italy is at or near recession levels again. This may open some good opportunities to find businesses at bargain prices. I will be buying a home in Italy soon and I see that prices are falling and/or prices are more negotiable. Like you, I will pay in cash (no mortgage) and I would expect that this will increase our bargaining position. In the final analysis I am getting no younger and whatever price I end up spending will be worth the effort to get to Bel Paese. Buona fortuna!