Aller au contenu The Italy Golden Visa — officially called the Investor Visa for Italy — is a residency-by-investment programme introduced by the 2017 Budget Law. It allows non-EU nationals to obtain a two-year Italian residence permit by making a qualifying investment in strategic assets for Italy’s economy and society, with no minimum stay requirement.
Italy’s Investor Visa stands out among European golden visa programmes for three reasons: it requires no minimum physical presence to renew the permit, investment is made only after approval (eliminating upfront financial risk), and it offers one of the lowest entry points in the EU at €250,000 for innovative startups. It also provides access to Italy’s flat tax regime for new residents, which was increased to €300,000 per year on worldwide foreign income by the 2026 Italian Budget Law.
2025–2026 updates:
- Flat tax increased: from 1 January 2026, the substitute tax on foreign income for new Italian tax residents rises to €300,000/year (previously €100,000, then €200,000). Family members: €50,000 each.
- Russia/Belarus suspension: since July 2023, the Investor Visa programme is suspended for Russian and Belarusian nationals (including dual nationals holding either passport), in compliance with EU Recommendation C(2022)554.
- No real estate route: unlike Portugal or Greece, Italy does not allow real estate purchases to qualify for the investor visa, and has given no indication of adding this option.
- No investment funds: as of December 2025, no eligible investment fund options are available under the programme.
Does Italy have a Golden Visa programme?
Yes. Italy’s Golden Visa — formally the Investor Visa for Italy — is fully operational as of 2026, with consistent Nulla Osta processing times of 25 to 35 days and no backlogs. Applications can be submitted at any time of year, as the programme is not subject to the annual entry quotas that apply to most Italian work visas. The official portal is managed by the Ministry of Enterprises and Made in Italy (MIMIT).
Italy Golden Visa: investment options and minimum amounts
Italian law specifies four qualifying investment categories. An investor visa can only be issued for a single investment type — it is not possible to combine different investment categories or split the required amount across multiple entities.
| Investment type | Minimum amount | Holding period |
| Innovative Italian startup | €250,000 | Duration of residence permit |
| Shares/stocks of an Italian company | €500,000 | Duration of residence permit |
| Italian government securities (bonds) | €2,000,000 | Duration of residence permit |
| Philanthropic donation | €1,000,000 | N/A (donation is irrevocable) |
Important: the investment must be made after obtaining the visa and within three months of entering Italy. Investments executed wholly or partly before submission of the visa application do not qualify. The investment (or the conditions tied to the donation) must be maintained for the entire duration of the residence permit, not just for two years as some guides suggest.
1. Italian innovative startup (€250,000)
The lowest entry point in the programme. The startup must be officially registered as an “Innovative Startup” under Italian law on the dedicated register of the Chambers of Commerce. It must have filed at least one corporate tax return and deposited its balance sheet with the Company Registry.
Investors cannot invest in a startup they already control, nor in one controlled by a close family member (spouse, parent, sibling) — the Investor Committee requires full independence (alterità) between the investor and the target company.
2. Shares or stocks of an Italian limited company (€500,000)
The target company must be operating — defined as having at least one year of activity and having filed at least one balance sheet. Investment must make the investor a direct shareholder: investment in bonds, convertible notes, or other instruments that do not immediately confer share ownership do not qualify. The investor cannot already control the company at the time of application.
The investment can be made either by purchasing existing shares from another shareholder or through a capital increase (aumento di capitale).
No investment funds: as of December 2025, there are no eligible packaged investment fund options under the programme. Investors must identify and invest directly in a single qualifying entity.
3. Italian government securities (€2,000,000)
Government bonds with a residual maturity of no less than two years at the time of purchase. In practice, advisors recommend purchasing bonds with a residual maturity of at least five years. The rationale: once Italian bonds are cashed, the investor loses the possibility to renew the investor residence permit — but after five years of continuous residency in Italy, the investor can apply for a permanent EU residence permit, at which point the investment no longer needs to be maintained.
4. Philanthropic donation to an Italian non-profit entity (€1,000,000)
The donation must support a project of public interest in one of the following sectors: culture, research, immigration management, restoration of natural or artistic assets. Unlike the investment options above, a donation is irrevocable — there is no “divestment” scenario.
Who can apply for the Italy Golden Visa?
Eligible applicants include:
- Non-EU/EEA/Swiss citizens aged 18 or older
- A foreign legal entity acting through its legal representative
Suspension: the programme is currently suspended for Russian and Belarusian nationals, including dual nationals holding a Russian or Belarusian passport, since July 2023 per EU Recommendation C(2022)554 and the MAECI note of 20 March 2024. This suspension shows no signs of being lifted.
There is no general nationality restriction beyond the above. However, applicants whose investment funds originate from countries on the EU Anti-Money Laundering “high-risk third countries” list or on Italy’s “black-listed” jurisdictions list may be required to transfer funds to an Italian bank or financial intermediary even before obtaining the visa.
Family members
Family members qualify to obtain a family visa and residence permit for the same duration as the main applicant. Eligible dependants include:
- Spouse
- Dependent children (including adult children who are financially dependent)
- Dependent parents who do not have other children to support them in their home country, or parents over 65 whose other children cannot support them
There is no additional investment requirement for accompanying family members. Two procedures are available: family reunification and family cohesion.
Anti-Money Laundering requirements
Investment resources must derive from legitimate activities. To prove the lawful origin of the funds, the applicant must submit an Anti-Money Laundering (AML) Statement, issued by the credit institution where the funds are held. This document certifies that the institution has carried out adequate due diligence checks on the client in compliance with FATF international standards.
The AML Statement must be drafted according to the specific guidelines provided by the Investor Committee. For applicants from higher-risk jurisdictions, transferring funds to a trusted Italian bank or financial intermediary before applying is strongly advisable — it adds transparency to the application and pre-empts requests from the Committee.
How to apply for the Italy Golden Visa: step by step
The application procedure is fully centralised and available in English — application forms, supporting materials, and customer care are all provided in English.
Step 1 — Prepare your documents
Core documents required for the Nulla Osta application:
- Valid passport (full copy)
- Curriculum Vitae
- Indication of the investment type and target entity
- Proof of ownership and availability of the required funds (bank statements, asset certificates)
- Anti-Money Laundering Statement from your bank
- Criminal record certificates and pending charges certificates (apostilled)
- Description of the investment and consent from the recipient entity (company, startup, or non-profit)
- Proof of sufficient financial resources for self-sustenance in Italy (above the minimum threshold for healthcare cost exemption)
Step 2 — Apply for the Nulla Osta via the official portal
Submit the online application through the Ministry of Enterprises and Made in Italy portal. The Secretariat performs a preliminary check, followed by the Committee’s evaluation. The Nulla Osta is typically issued within 25 to 35 days of submission.
Step 3 — Apply for the investor visa at your local Italian consulate
Within six months of the Nulla Osta being issued, apply for the investor visa at the Italian diplomatic representation competent for your country of residence. The visa is valid for two years.
Step 4 — Enter Italy and apply for the residence permit
Within eight days of entering Italy, apply for the investor residence permit at the local Questura. The permit is valid for two years from the date of entry.
Step 5 — Make the investment
The qualifying investment must be executed within three months of entering Italy. After completing the investment, notify the Ministry of Enterprises and Made in Italy.
Step 6 — Renew for three more years
If the investment is maintained, the residence permit can be renewed for three additional years at least 60 days before expiry. A new Nulla Osta is required for renewal.
Key advantages of the Italy Golden Visa
No minimum stay requirement. Unlike most other Italian residence permits, the Investor Visa does not require you to spend a minimum number of days in Italy to keep or renew it. This makes it uniquely flexible for high-net-worth individuals who travel frequently or maintain residences in multiple countries.
Pre-approval model. Italy’s programme requires the investment to be made only after approval and entry — not before. This eliminates upfront financial risk during the application phase.
Right to work in Italy. Unlike the Elective Residence Visa (which strictly prohibits employment), the Investor Visa allows the holder to live, work, study, and conduct business in Italy.
Schengen Area access. Holders can travel visa-free across all 29 Schengen countries for up to 90 days within any 180-day period.
No quota limits. Applications can be submitted at any time of year, without annual cap restrictions.
Pathway to permanent residency and citizenship. After five years of continuous legal residency in Italy (183+ days per year), holders can apply for the EU Long-Term Residence Permit (permanent residency), at which point the qualifying investment no longer needs to be maintained. After ten years of legal residency, holders can apply for Italian citizenship by naturalisation. See our article on how to obtain Italian citizenship.
Italy Golden Visa and the flat tax regime
Italy’s flat tax for new high-net-worth residents is the most powerful financial incentive associated with the Golden Visa. The regime allows individuals who transfer their tax residency to Italy to pay a fixed substitute tax on all foreign-sourced income, replacing ordinary Italian progressive taxation.
2026 flat tax rates (updated)
| Beneficiary | Annual flat tax |
| Main applicant | €300,000/year (increased from €100,000 by 2026 Budget Law) |
| Each family member included in the regime | €50,000/year (increased from €25,000) |
Eligibility: applicants must have been non-Italian tax residents for at least 9 of the 10 years preceding the year in which the election takes effect.
Duration: up to 15 years (the regime can be maintained for a maximum of 15 tax years).
What it covers: all foreign-sourced income (dividends, capital gains, rental income abroad, professional income from abroad, etc.), regardless of amount.
What it does not cover: Italian-sourced income is taxed under ordinary Italian rules.
This regime is particularly attractive for investors who generate significant income outside Italy — dividends from foreign companies, returns on offshore portfolios, real estate income from abroad — and want predictability and simplicity in their Italian tax position.
Other Italian tax incentives for new residents
Impatriate workers tax regime
Applicable to employees and freelancers moving their tax residency to Italy to work there. For five years, only 30% of Italian-sourced employment or self-employment income is subject to taxation (10% if residing in a Southern Italian region). The scheme can be extended for a further five years under certain conditions. For full details, read our guide on the special tax regime for impatriate workers.
Retirees flat tax in Southern Italy
Non-Italian resident individuals receiving foreign pension incomes who transfer their tax residency to a municipality with a population of no more than 20,000 inhabitants in one of the southern Italian regions (Sicily, Calabria, Sardinia, Campania, Basilicata, Abruzzo, Molise, Puglia) can elect for a 7% flat tax rate on all non-Italian-sourced income. Must not have been Italian tax resident for the 5 years preceding the election.
Tax incentives for professors and researchers
Tax benefits for professors and researchers relocating to Italy involve a 90% reduction of taxable income from research and teaching activities. The duration of the regime ranges from 8 to 13 years depending on circumstances.
Italy Golden Visa vs other Italian residency options
| Investor Visa | Elective Residence Visa | Digital Nomad Visa | |
| Work in Italy | Yes | No | Yes (remote only) |
| Minimum stay | None | Required (full-time residency) | Effectively required |
| Investment required | From €250,000 | No | No |
| Passive income required | No | Min €31,000/year | No (work income) |
| Min. income/proof | Proof of investment funds | €31,000+/year passive | ~€28,000/year remote income |
| Pathway to citizenship | After 10 years | After 10 years | After 10 years |
| Flat tax eligible | Yes | Yes | Yes |
If your priority is relocating to Italy without making a financial investment, the Elective Residence Visa or Digital Nomad Visa may be more suitable. For a broader overview of all Italian long-stay visas, see our guide to long-stay visas for Italy and the full Italian visa system.
Frequently asked questions
Does Italy have a Golden Visa programme?
Yes. Italy’s Golden Visa — officially the Investor Visa for Italy — has been fully operational since 2017. It is not subject to annual quota limits, and applications can be submitted year-round. As of 2026, the programme is stable with no announced changes to investment thresholds.
What is the minimum investment for the Italy Golden Visa?
The lowest entry point is €250,000 for an investment in an eligible Italian innovative startup. Other options: €500,000 in an established Italian company, €1,000,000 for a philanthropic donation, or €2,000,000 in Italian government bonds.
Can I get an Italian Golden Visa through real estate?
No. Unlike Greece or the former Portuguese programme, Italy does not offer a real estate investment route for the Golden Visa. You can purchase property in Italy after obtaining residency, but it will not count toward the qualifying investment.
Is there a minimum stay requirement for the Italy Golden Visa?
No. The Investor Visa is the only Italian residence permit that does not require a minimum number of days in Italy for renewal. However, to qualify for permanent residency (after 5 years) or Italian citizenship (after 10 years), you will generally need to spend more than 183 days per year in Italy.
What is the Italy flat tax and how much is it?
The flat tax for new high-net-worth Italian tax residents is €300,000 per year on all foreign-sourced income (as of 1 January 2026, increased by the 2026 Budget Law from the original €100,000). Family members included in the regime pay €50,000 each per year. The regime can last up to 15 years and is available to those who have not been Italian tax residents for at least 9 of the 10 years prior to election.
When do I need to make the investment?
The qualifying investment must be executed after entering Italy and within three months of entry. Investments made before submitting the visa application or before entering Italy do not qualify.
Can my family members join me on the Italy Golden Visa?
Yes. Spouse, dependent children, and dependent parents meeting the eligibility criteria can obtain residence permits for the same duration as the main applicant. There is no additional investment required for family members.
Is the Italy Golden Visa available to Russian citizens?
No. Since July 2023, the Investor Visa programme has been suspended for Russian and Belarusian nationals, including dual nationals holding either passport, following EU Recommendation C(2022)554. There is no indication this restriction will be lifted.
How long does it take to get the Italy Golden Visa?
The Nulla Osta (pre-approval) is typically issued within 25 to 35 days of submission. Total processing time from application to residence permit is generally 3 to 4 months. There are currently no backlogs in the programme.
What happens after 5 years?
After 5 years of continuous legal residency in Italy (generally 183+ days per year), you can apply for the EU Long-Term Residence Permit (permanent residency). At this point, the qualifying investment no longer needs to be maintained — you can divest without affecting your residence status.
How Arletti Partners can help
Our immigration experts support foreign nationals and companies making strategic investments in Italy’s economy. We provide end-to-end assistance: from investment planning and document preparation, through Nulla Osta application, consular visa, residence permit, and flat tax election — in both Italian and English.
- Obtain the Italian Golden Visa (Investor Visa)
- Relocation services to Italy
- Elective Residence Visa for Italy
- Italian Digital Nomad Visa
- Italian Startup Visa
Book a consultation: Consultancy on the Golden Visa in Italy