Does Italy have a golden visa?
Yes! Italy has a golden visa program. Whether you call it Italian golden visa or investor visa, this Italian visa is an interesting solution for non-EU citizens who choose to invest in strategic assets for Italy’s economy and society.
The Italian Golden Visa is a government program introduced in 2017 Budget Law as a reward and as an incentive. Following the start-up visa, it represents a step forward in attracting foreign investors and enhancing the Italian Visa System. Also known as the Italian golden visa, it is the perfect match for long-term investors.
Italy Golden Visa requirements
The Italian golden visa is addressed to all non-EU nationals who are interested in investing in strategic assets for Italy’s economy. The applicant can be either:
- An individual over eighteen years of age, or
- A foreign legal entity, identified in its legal representative.
How to get the Golden Visa in Italy
The online procedure for the obtainment of the Investor Visa for Italy can take place entirely in English. Application forms, information materials and a “customer care” service, as well as the website itself, are all offered in English. This aims to facilitate the applicants who are not proficient in Italian.
The application procedure for the Italian Golden Visa is also available entirely in English.
Moreover, the procedure is fully centralized, as a single administration handles all communications with the other administrations involved. Consequently, the time required for the entire process is significantly reduced.
Steps of the application and documents you will provide
The Investor Visa does not fall within the annual entry quotas provided for by the Italian Government. Therefore, applications for the Italian golden visa can be provided at any time and without the quotas limitations.
The first step in the process is the Nulla Osta (certificate of no impediment) application, which is released through the Ministry of Economic Development portal.
The documents and the information required in this phase are the following:
- Contact details (i.e. name and surname, place and date of birth, nationality, place of residence, personal e-mail address, personal telephone number);
- Copy of passport;
- Curriculum Vitae of the applicant;
- Indication of the type of investment in Italy;
- Proof of ownership of the financial resources;
- Proof of absence of criminal convictions and pending charges;
- Description of the characteristics of the investment and proof of consent from the recipients.
First of all, the Secretariat of the Committee makes a preliminary check of the application, which is followed by the Committee’s evaluation. Then, the Committee releases the certificate of no impediment, normally within 30 days from application submission. Finally, within six months from its issuance, you may apply for the investor visa at the local Italian diplomatic mission.
The Italian Golden Visa is valid for 2 years.
Within eight days after entering Italy, you shall apply for the investor residence permit at the local Questura. The permit is valid for two years from the date of entering Italy.
Arletti & Partners can help you submit the requests for both the investor visa and the residence permit.
Issue and maintenance of the residence permit in Italy
There are 2 conditions for the issue and maintenance of the Italian residence permit:
- The applicant shall make the investment or donation declared in the golden visa application within 3 months after entering Italy;
- The applicant must maintain the original investment for the entire validity of the residence permit.
If the conditions apply, you can ask for a 3-year renewal at least 60 days before the permit expiry. In order to apply, you need a new certificate of no impediment.
If the applicant does not satisfy one of the above-mentioned conditions, the investor residence permit may be revoked, even before the envisaged expiry date. In addition to that, the applicant will not be able to renew the permit anymore.
After some years of consecutive residency in Italy, you might decide to apply for the Italian citizenship. If you are interested in learning more about that, please check our dedicated article on how to obtain the Italian citizenship.
Types of investments allowed in Italy
Italian Law lists the types of investments that are accepted for the golden visa application:
- Government Bonds issued by the Italian Republic (at least € 2 million of investment)
- Companies based and operating in Italy (at least € 500.000 of investment)
- Innovative start-ups based and operating in Italy (at least € 250.000 of investment)
- Philanthropic donation in cultural, scientific or environmental areas (at least € 1 million of investment) and that:
- Demonstrate that they are holders and beneficial owners of an amount at least equal to euro 2,000,000, in the case of number 1, or euro 1,000,000, in the cases referred in number 2) and this subparagraph; this amount that must be in each case available and transferable in Italy;
- submit a written declaration in which they commit to use the funds referred to in letter a) to make an investment or philanthropic donation that meets the criteria set forth in number 1 and 2 and this letter, within three months from the date of entry into Italy;
- demonstrate that they have sufficient resources, in addition to the funds referred to in letter a) and in an amount at least above the minimum level provided by the law for exemption from participation in health care expenditure, for their own sustenance during their stay in Italy.
Investments executed before the Italian golden visa application is submitted by the investor do not qualify for an investor visa.
The visa will be issued within 90 days of application.
Benefits of the Investor Visa in Italy
There are several incentive measures, mainly of fiscal nature, for the investors who wish to transfer their residence to Italy. For example, an investor visa holder can benefit from the special tax regime for new residents.
Furthermore, the Italian golden visa allows the applicant to work in Italy.
It can potentially also be converted into a work permit, if the conversion requirements are fulfilled. Finally, the investor visa allows family members to obtain a family reunion visa. If you are thinking of relocating to Italy but you don’t want to make investments in the Italian economy, you might consider to obtain a study visa, that will allow you to relocate for 1 year. The study visa can eventually be converted into a work permit, if all the necessary conditions apply.
For more information on the other types of long-term visa, take a look at our dedicated guide.