Can a US citizen own and operate a B&B in Italy? Can you own property
in Italy? Buy an existing B&B?

thanks

Dear 1tim-ga - 

Good news!  The short answer to all your questions is YES.  Here are
some websites that explain the ins and outs of owning property in
Italy and especially a Bed&Breakfast.

According to the "Piedmont Properties" ( http://www.smithgcb.demon.co.uk/ )  FAQ: 

"It's easy to open a B&B in Italy: you just inform the Tourist Office
of your comune (parish) that you are open for business, telling them
the prices you intend to charge. A notice stating the price, and
bearing the stamp of the comune, should then be displayed behind the
door of each guest room - although in practice many B&Bs don't do
this."

Additionally, you must live in the house yourself and it must have a
maximum of 3 furnished double guest rooms of a certain size, and must
conform with safety regulations.

http://www.smithgcb.demon.co.uk/faq_bed_and_breakfast.htm

The Piedmont Properties FAQ also outlines the rules a non-EU citizen
must follow in order to start a business in Italy.

http://www.smithgcb.demon.co.uk/faq_business.htm

As far as buying the property is concerned, Tracey Meaghan,  a
property advisor in Europe, says:

"Generally, there are three steps involved in buying a property:
proposal of purchase, preliminary purchase and final purchase.  There
are certain legal precautions that can be followed throughout each
stage to protect your interests and ensure your purchase goes
successfully. "

Her website then goes into some detail about the precautions a
prospective buyer must take to successfully purchase property in
Italy:

http://www.escapeartist.com/OREQ14/Italy.html

Property-Abroad.com also details the various factors involved in
buying property in Italy:

http://www.property-abroad.com/OP/PA/a-guide-to-buying-property-in-italy.htm

Search strategy:
Search terms: buying business Italy
Search terms: buying property Italy

Good luck, or I should say Auguri.  Enjoy your new venture.

All the best,

alanna-ga