Thinking about living the Italian dream and living the Dolce Vita?

The Investor Visa for Italy, more commonly called the Italian Golden Visa, is a fantastic way for non-EU citizens to get residency by making a significant investment in the country. Unlike many other programs, it’s pretty flexible and doesn’t require you to be in Italy all the time, which is a big plus for global investors.

Key Takeaways

  • The Italian Investor Visa allows non-EU investors to gain residency in Italy through significant investments, promoting foreign financial contributions to the Italian economy.
  • Applicants must meet specific eligibility criteria including a minimum investment of €250,000, proof of financial stability, and compliance with anti-money laundering regulations.
  • The visa offers various investment options, family inclusion benefits, potential tax advantages, and a pathway to permanent residency and citizenship after fulfilling residency requirements. Understanding the renewal and naturalization pathways is crucial for those interested in Italian golden visas.

What is the Italian Investor Visa?

The Italian Investor Visa is a specialized visa designed for non-EU investors who wish to reside in Italy. In force since 2018, this visa allows individuals and their families to live, work, and study in Italy while traveling visa-free within the Schengen Area. It’s a golden opportunity for those looking to immerse themselves in the rich Italian culture and enjoy the benefits of European residency.

By attracting international investments, the Italian Investor Visa program aims to promote foreign direct investment and boost the Italian economy. Investors can choose from various investment options, including government bonds, corporate bonds, shares, and philanthropic contributions. This program not only provides a pathway to Italian residency but also supports Italy’s economic growth and development. Compliance with Italian law is essential for understanding the accepted types of investments and the associated tax benefits for residents.

Eligibility Criteria for the Italian Investor Visa

To qualify for the Italy investor visa program, applicants must meet specific eligibility criteria. These include making a significant investment commitment and demonstrating financial stability.

The minimum investment amount required is €250,000, making it accessible to high-net-worth individuals.

Applicants must also provide an Anti-Money Laundering Statement to ensure the legitimacy of their investment funds. The Italy investor visa for Italy allows individuals to gain residency through their financial contributions.

Pros and Cons

Like any program, the Italian Golden Visa has its upsides and downsides.

Pros

  • No Minimum Stay Required: This is a major advantage over other European programs. You are not required to live in Italy for a specific number of days per year to maintain your temporary residency. This makes it ideal for those who want flexibility.
  • Pathway to Citizenship: The program provides a clear and defined path to Italian citizenship, although it takes time.
  • Freedom to Work and Live: The visa gives you the right to live, work, and study in Italy.
  • Schengen Access: With your residence permit, you and your family can travel visa-free within the entire Schengen Area for up to 90 days in any 180-day period.
  • Family Inclusion: Your spouse, dependent children, and even dependent parents can be included in your application.

Cons

  • No Real Estate Investment: A big difference from other golden visa programs is that investing in real estate does not qualify you for the Italian Golden Visa.
  • Significant Investment: The minimum investment amounts are substantial, especially for government bonds.
  • Rigorous Vetting: The application process is thorough, with a strong focus on anti-money laundering and background checks.
  • Tax Implications: While there is no minimum stay, if you register as a resident in Italy, you may be subject to Italy’s tax system, including a flat tax regime for new residents.

The Practical Process: What It’s Really Like

The process might seem complex on paper, but in practice, it’s a pretty structured, multi-phase journey. It’s not just about the investment; it’s about a sequence of applications and approvals.

  • Step 1: Certificate of No Impediment This is your first and most crucial step. You don’t make the investment yet! You apply for the Nulla Osta online through the official government portal. You’ll need to submit documents like your passport, a criminal record check from all countries you’ve lived in for the past 10 years, and proof that you have the required funds ready and that they come from a legal source. The official committee reviews your application, and if all looks good, they’ll issue the Nulla Osta within about 30 days.
  • Step 2: The Visa Application Once you have your Nulla Osta, you have six months to apply for the actual visa at the Italian embassy or consulate in your home country. You’ll need to provide your Nulla Osta and the same documents you submitted online, along with a few others.
  • Step 3: Arriving in Italy and Getting Your Residence Permit After your visa is approved, you have two years to enter Italy. Crucially, within 8 days of your arrival, you must apply for your residence permit (Permesso di Soggiorno) at the local police station (Questura). This is when the process gets real. You’ll have to provide fingerprints and photos.
  • Step 4: Making the Investment You have three months from your arrival date to complete the investment you committed to. Once you’ve done it, you must upload the proof of investment to the government portal. This is a key final step to get your residence permit issued. If you fail to make the investment in time, your permit will be revoked.

Pathway to Citizenship

The Investor Visa is the first step on a long-term journey to Italian citizenship. Here’s a breakdown of the typical timeline:

  • Years 1-5: You hold your temporary residence permits. The initial permit is for two years, and you can then renew it for three years, provided you maintain your investment. You can keep on renewing the temporary residency permit for an unlimited number of times without a minimum stay requirement. You cannot apply for Italian Citizenship here, except if you have Italian ancestry (in this case, you can apply after 2- 3 years).
  • After 5 Years: You become eligible to apply for a permanent residence permit (EU Long- Term Residence Permit). To qualify, you must have lived in Italy continuously and meet certain requirements, such as sufficient income and accommodation. You must not have been out of Italy for more than six consecutive months or ten months in total over the five years. You’ll also need to pass a language test (A2 level Italian).
  • After 10 Years: You are eligible to apply for Italian citizenship by naturalization. This requires you to demonstrate at least 10 years of legal residency in Italy. The 10-year clock for citizenship begins ticking from the date your initial residence permit is issued. The same rule regarding absences from the country (no more than six consecutive months or ten months total over five years) applies also to the period leading up to your citizenship application. This is a crucial point: while the Golden Visa itself allows for unlimited time outside of Italy for its initial two-year permit, to get on the long-term path to citizenship, you do need to maintain a continuous, documented presence in the country. You must also show a stable income, a clean criminal record, and a higher level of Italian language proficiency (B1 level).

Renewals

Maintaining your residency is a straightforward process, as long as you keep your investment in place.

  • Initial Renewal: Your first residence permit is valid for two years. To renew it, you must apply at least 60 days before its expiry. You will need to get a new Nulla Osta from the committee and prove that you have maintained your investment. This renewal will grant you a new permit for three years.
  • Subsequent Renewals: There is no legal limit to the number of times you can renew your three-year permit, as long as you continue to meet the program requirements. There is no minimum stay requirement to renew the temporary residency for main investors.
  • Permanent Residency: As mentioned above, after five years, you can apply for a permanent residence card instead of renewing your temporary one, assuming you meet the requirements.

You must be in Italy for the renewal process. The renewal of your residence permit requires a physical visit to the Questura for the biometric data collection (fingerprints and photos). While much of the preliminary application and documentation submission can be done online, the final in-person appointment is a mandatory step for the investor and all included family members.

The Process for Family Members

This is where the process can get a little tricky, as family members are typically on a different visa type than the main investor. Therefore, the dependents have a minimum stay requirement even to renew their temporary residency—they can’t be absent from Italy for more than six consecutive months or ten months total over the permit period.

  • Timing: The main applicant must get their initial investor visa and residence permit first. Once the main applicant has their residence permit in hand and has established a registered address in Italy, they can then initiate the family reunification process.
  • Applying: The process is typically started online in Italy by the main applicant, who applies for a Nulla Osta for family reunification. Once approved, the family members can apply for their specific visas at the Italian consulate in their home country.
  • Travel: Family members must then travel to Italy. Just like the main investor, they have 8 days from their arrival to apply for their residence permit (Permesso di Soggiorno) at the local police station (Questura).
  • Appointments: Getting synchronized appointments can be a challenge. While some Questura offices are organized and will try to book your family’s appointments close together, it’s not guaranteed. You may find that family members’ appointments are a few weeks apart from each other or from the main applicant’s. It’s best to be prepared for this and to have all documents ready for each family member.

Italy Golden Visa Webinars

New webinars will be added soon. Check back shortly.

FAQ

What are the investment options?

  • €2,000,000 in Italian government bonds (with a maturity of at least two years)
  • €500,000 in a limited company incorporated and operating in Italy
  • €250,000 in an Italian innovative startup
  • €1,000,000 as a philanthropic donation to a public interest project in Italy.

Here are some startups (€250,000) and other companies (€500,000) you can invest in:

Can my family join me?

Yes, your spouse, minor children, and dependent parents can all be included in the application.

Do I need an attorney to apply for the Italian Golden Visa?

Yes, you need an Italian attorney as the process will be mainly conducted in Italian language. Also, as the process requires dealing with several Italian authorities, both in Italy and abroad, having an Italian immigration attorney will certainly make the process way more straightforward.

Do I have to live in Italy to keep my visa?

No, the visa has no minimum stay requirement. However, if your goal is to apply for permanent residency or citizenship, you will need to establish and prove your continuous residency in Italy.

Is it possible to work with this visa?

Yes, the Investor Visa allows you to work and establish a business in Italy.

What if my application is rejected?

The investment is not made until after your Nulla Osta is approved and you are in Italy. Therefore, you do not lose any money if your initial visa application is rejected.

How long does the whole process take?

The timeline can vary, but generally, the application to get the initial residence permit takes around 3-6 months.

Do I need to travel to Italy for renewals?

Yes, you must be in Italy for the renewal process. The renewal of your residence permit requires a physical visit to the Questura for the biometric data collection (fingerprints and photos). While much of the preliminary application and documentation submission can be done online, the final in-person appointment is a mandatory step for the investor and all included family members.

Are there Travel Limitations for Family Members?

Unlike the investor, who enjoys a “no minimum stay” perk for the first five years, family members on a family residence permit do have stay limitations if they want to get on the path to permanent residency.

To maintain and renew their temporary family residence permits, they cannot be absent from Italy for more than six consecutive months or ten months total over a five-year period.

This is a critical distinction: the investor’s permit has very flexible stay requirements for the first five years, but the family reunification permit issued to their family members falls under the standard residency rules. This means if your family wants to eventually apply for permanent residency and citizenship alongside you, they must establish and maintain a legal presence in Italy.

Ready to take the next step? Check our directory of law firms that can help you apply for the Italian Investor Visa.

Cover image credit: Alfons Taekema / Unsplash