ITALYGOLDEN VISA
MIN INVESTMENT
€250,000
PROCESSING TIME
1-2 MONTHS
PERMIT TYPE
TEMPORARY RESIDENCE
FAMILY
SPOUSE, CHILD, PARENT
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SUMMARY
Italy is a country in southern Europe that is a member of the European Union. It is one of the most visited countries in the world because of its rich cultural heritage, delectable cuisine, and pleasant climate. The Italy Investor Visa is a residency by investment program that grants applicants a 5-year temporary residency permit in Italy. Investors may apply for permanent residency after five years and Italian citizenship after a total of 10 years of residence. Those with Italian ancestry or descent can obtain citizenship much quicker.
The Italy Golden Visa program allows investors to put their money into bonds, stocks, creative startups, or charitable organizations. For the residence permit to remain valid and be extended, the investment must be held.
Italy has one of the best passports in the world. Italians have the right to live anywhere in the European Union as EU citizens. The passport provides for 90 days of visa-free travel to the United States per year. The tax system in Italy is also favorable to the rich. Article 24-bis of Italy’s Tax Code (TUIR) provides an optional tax regime that allows new immigrants to pay a €100,000 lump sum once a year to replace regular taxes on their entire income earned outside of Italian territory. The Italy Golden Visa Scheme allows cash-rich investors to gain a residency permit in the European Union and purchase real estate in Italy if they desire.
POPULATION
60 million
CAPITAL
Rome
CURRENCY
Euro
LANGUAGE
Italian
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- TYPE: RESIDENCY
- VISA-FREE: EU, US
- PROCESS: 2 MONTHS
INVESTMENT
For Italian Golden Visa Scheme, the investment can be made in the following:
- Bond or similar of at least 2m Euro
- Charitable organization donation of at least 1m Euro
- Innovative Startup investment of at least 250,000 Euro
- Shares of a limited company of at least 500,000 Euro
The investment should be held as long as you decide to stay in Italy or until permanent residence is obtained (5 years).
There are no application fees for the Italy Investor Visa.
ITALY RESIDENCY INVESTMENT OPTIONS
DONATION
Donate at least 1 million euros to a public-interest initiative in the fields of culture, education, immigration control, scientific studies, and cultural and natural heritage protection.
SHARES
Article 73 of the TUIR (DPR 917/1986) requires you to invest at least 500,000 Euro in stakes or shares in limited companies incorporated and based in Italy. If a corporation is in an active state and has already filed at least one balance sheet at the time of the visa application, it is deemed to be “operating” (as specified by art. 26-bis, art. 1, lett. b, TUI). The recipient corporation may or may not be publicly traded. Its name and tax code are critical pieces of information that must be provided at the time of application.
INNOVATIVE STARTUP
Invest at least 250,000 Euro in stakes or shares in creative startups, as described in article 25, paragraph 2 of decree-law no. 179 of October 18, 2012, as amended by law no. 221 of December 17, 2012, and subsequent amendments. The official list of creative startups, which is updated every week and is free to access, can be found on the Italian Chambers of Commerce system’s startup.registroimprese.it portal.
BOND
Invest a minimum of 2 million euros in Treasury Certificates (CCT/CCTeu), Zero-coupon Treasury Bonds (CTZ), Long-Term Treasury Bonds (BTP), Long-Term Treasury Bonds index-linked to Eurozone inflation, and BTP ITALIA.2 A minimum residual maturity of at least two years is expected for each typology.
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PROCESS
Application Processing Time: 1-2 Months
Step 1 - Month 1
To obtain your investor visa, you must first get a Nulla Osta (certificate of no impediment) from the Investor Visa for Italy Committee, which can be obtained via the online portal. You'll need to gather your paperwork and fill out an application. In 30 days, a decision will be taken. If this has been authorized, you can go to the Italian consulate in your home country to obtain a visa to visit Italy.
Step 2 - Month 2
You have eight days from when you arrive in Italy with your entry visa to submit your biometrics and apply for a two-year stay permit at the Questura (Police Headquarters). To obtain a residency permit, you must make your deposit or contribute within three months of your arrival in Italy. After you've made your investment, collect all of the necessary paperwork and send it.
Step 3 - Month 2
The Questura (Police Headquarters) will arrange an appointment to receive your investor resident permit once you have submitted the final documentation as evidence of investment.
CONDITIONS
- A series of requirements must be fulfilled to apply for Italy Golden Visa Program. Check all the requirements for obtaining Residency by Investment in Italy.
- Business Experience:
Brief curriculum vitae of the applicant's prior academic and professional experience. - Accommodation:
Demonstration of availability of suitable accommodation in Italy, including hotel bookings or availability of third parties. - Criminal Record:
There are no final felony convictions or pending charges, according to the declaration. The claimant must declare any final felony convictions or pending charges. To do so, the applicant must send one or more certificates from countries where he or she has lived for more than twelve consecutive months in the last ten years, beginning at the age of 18, stating the absence of final criminal convictions and pending charges. A certificate about periods of residency in Italy is not needed. If these credentials are not available in the local legal system or if the applicant is unable to obtain them for objective purposes, the applicant must announce this in an Italian or English statement. After consulting with the Italian Embassy or Consulate responsible for the area of residence, the Committee's Secretariat may recommend a waiver to the Committee. For example, certificates that are null (for example, since they have passed their expiration date) or illegible will not be authorised. - Health Insurance Coverage:
Proof of income earned in the previous financial year in the country of residence exceeds the legal minimum requirement for healthcare expenses exemption (currently around € 8,500).
- Financial Requirements:
The ownership of sufficient financial resources shall be demonstrated by means of the following supporting documentation:
i. If the funds are deposited in a bank (e.g., a savings account), a copy of a bank statement of account detailing all transactions made in the three months before the application's submission. The bank statement must be no more than 30 days old at the time of application submission.
ii. If the funds are held in the form of financial instruments, documentation listing and identifying the financial instruments held or purchased by the applicant in the three months leading up to the application date is required. A portfolio provided by a financial agency, an investment fund, or anything similar is an example of such documents. Even if there is a guarantee of sale, possession of properties such as real estate or financial interest in companies not restricted by shares would not be considered evidence of the availability of the minimum financial capital.The applicant must send an official letter signed by an authorised representative of the financial institution where the funds are deposited.
FAMILY
- Parent Dependent
Dependent parents, whether they have no other children in their country of birth, or parents over 65, if their other children cannot help them due to severe and correctly reported health problems. - Child Dependent
Unmarried minor children, including those of the spouse or those born outside of wedlock, if the other parent has given their consent; Dependent children over the age of 18 who are unable to care for their basic needs due to health problems meaning complete impairment for objective reasons.
INITIAL PERMIT
- The Italian Investor Visa is valid for a period of two years. If you keep your investment or contribution for the two years of your residency permit's validity, you can request a three-year extension. You must renew your residency permit at least 60 days before its expiration date. For the first time in 2019, investors do not need to be physically present in Italy to renew their permits.
PERMANENT RESIDENCY
- Residency Requirement:
5 straight years of residence. - Criminal Record:
The alien has not been convicted for any of the offences mentioned in Article 380, as well as limited to crimes not listed in Article 381 of the Criminal Procedure Code, or pronounced the penalty, even though it is not final. - Financial Requirements:
Incomes higher than double the minimum salary (roughly 6000 euro x2 in case of the family of 3-4) - Language Requirement:
Applicants will need to pass a language test to demonstrate their basic command of the Italian language. - Other Conditions:
Applicants must have proper accommodation in Italy
CITIZENSHIP
- Residence Requirements:
10 years of legal residence. - Test:
Attendance at a one-year course on Italian and European history and culture, civics, and the values of the Italian Constitution to check the ‘path to Citizenship.' - Financial Requirements:
Income declaration last three years. Possession of the requirements relating to income, accommodation and lack of pending suits for the residence permit for long-term residents. - Criminal Record:
a) a conviction for one of the offences mentioned in Book II, Title I, Chapters I, II, and III of the Criminal Code; b) a conviction for an intentional offence for which the statute stipulates a minimum sentence of three years in prison.