Golden visa for Italy
In May 2020, Italy cut in half the requirements for a residence by investment permit. In order to obtain a residence permit for Italy, it is now enough to invest €250,000 (instead of €500,000 before) in an Italian start-up or €500,000 (instead of €1,000,000 previously) in a local company.
time to obtain a golden visa
minimum investment period
A golden visa for Italy is a state programme that allows investors and their family to obtain a residence permit for Italy for a significant contribution to the economy of the country.
The Italian residence by investment programme was launched in December 2016. However, the golden visa for Italy has not become so popular as similar programmes for Greece, Spain, and Portugal.
To solve this problem and revive the country's economy amid the COVID-19 pandemic, the Italian government cut in half the minimum entry threshold for two most attractive investment options — investment in an Italian company and a start-up.
The reduction of the investment requirement down to €250,000 makes an Italian investor visa one of the most affordable among all the European golden visas.
Investment options for a residence permit in Italy
- €250,000 investment in an Italian innovative start-up,
- €500,000 investment in a company registered and operating in Italy,
- €1,000,000 donation in important social projects in Italy,
- €2,000,000 investment in Italian government bonds.
The total invested amount should be channelled within three months after arrival in Italy on an investor visa. All the investments should be made for at least two years.
Advantages of the programme
- A residence permit or permesso allows an investor to live permanently in Italy and travel freely throughout the EU.
- The holders of an investment residence permit are entitled to work and carry on business in Italy.
- An application for an investment visa is processed in 30 days.
- Documents for a golden visa are submitted online via a special platform. After the application is approved, the consulate of Italy issues an investor visa that allows an applicant to enter the country.
- Investors are entitled to reunite with their family members in Italy.
- It is not required to know the Italian language to obtain or renew a residence permit.
- A golden visa allows an investor to apply for permanent residency after living for five years in Italy and then obtain citizenship on the general grounds in ten years.
- An investor may opt for a special tax treatment applicable to wealthy foreigners. The single flat tax rate in Italy is €100,000 annually for the investor and €25,000 annually for each family member on all the foreign-sourced income irrespective of the amount.
An investor makes an online application to take part in the golden visa programme for Italy. The applicant fills out a questionnaire and uploads copies of documents on the dedicated government platform. Once the application is approved, the approval of Nulla Osta (certificate of “no impediment” to an investor visa) release is sent to the investor via the platform.
Documents to make an online application for Nulla Osta
- A declaration of commitment to invest in the economy of Italy
- A questionnaire filled out on the online platform
- Curriculum vitae
- Copy of passport pages with records
- Documents proving the availability of the committed amount and its transferability to Italy
- Documents proving the legitimate origin of the committed funds
- Certificate of non-conviction for the last ten years and no pending case.
The documents must be submitted with certified translations into English or Italian.
Important note: The applicant makes the investment only after receiving official confirmation that the residence permit will be issued. When the application is made, it is sufficient only to sign investment commitment. The risk that money will be invested without receiving a residence permit is excluded.
Application for an investor visa in the consulate
After the Nulla Osta is released, the investor has six months to make an application for an investor visa in the consulate of Italy in their home country.
Documents submitted to the consulate of Italy
- Valid foreign passport. The validity term of the passport must be at least two years and three months as of the day when the documents for a visa are submitted.
- Photograph for visa application
- Copy of Nulla Osta
- Original documents for online application
- Proof of residence in Italy (hotel booking, lease or purchase of housing)
- Proof of income generated in home country — over €8,500 for the past year
Application for the residence permit in Questura
The consulate of Italy makes necessary checks and issues an investor visa for two years. The foreigner then makes an application for a residence by investment permit within eight days from entering Italy in the Questura in the residence location.
Documents for residence permit application in Questura
- Copy of all the foreign passport pages
- Two photographs
- Receipt of payment for e-document printing — €30
- Payment receipt for residence permit state duty — €50
- Duty stamp — €16
- Proof of residence in Italy
The investor has three months after entering Italy to make the full committed investment and submit the documentary proof of the investment made via the online platform.
A residence permit is issued to the investor for two years provided the investment is retained over this time. The residence permit may be renewed for another three years. Upon expiration of five years, the investor may obtain permanent residency in Italy. Italian citizenship may be sought on general grounds after living for ten years in the country.
Important note: The investor is not obliged to stay in the country all the time; however, the investor must not leave Italy for more than 365 consecutive days.
Note: The investor that stays in Italy for more than 183 days a year becomes an Italian tax resident and is as tax liable as Italians, even if the income is derived outside of Italy.
Make an online application and see details about the golden visa on the official website of the Ministry of Economic Development of Italy.