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To qualify for residence status in Italy, applicants can choose to invest in either of the following two program options:
Elective Residency Visa
Your Gateway to Residency in Italy Through Investment and Secure Your Future in Italy with a Qualified Investment perfect for businessman and investors.
Italy's Investor Visa
Also known as Golden Visa, is an excellent opportunity for individuals looking to make impactful economic contributions through substantial investments.
The combination of Italy's rich cultural heritage, strategic location in Europe, and attractive tax incentives with streamlined processes for high-net-worth individuals makes this visa a very appealing option for investors.
The program includes various investment options such as contributions to innovative startups, charitable donations, or direct investments in established Italian companies.
Applicants must demonstrate the capability to invest a minimum of €250,000 in startups or €500,000 in other business ventures.
Other options include €2 million invested in Italian bonds or, €1 million donation to an Italian charity. There is no real estate investment option for this visa.
There's a two-phase application process for the investor visa. The first phase involves gathering required documents and submitting the application for the Nulla Osta. The second phase involves an in-person interview with the consulate and providing additional information as requested. Attention to the finer details is paramount as is adhering to the application instructions and meeting each criteria with appropriate documentation. While the collation of documents is quite involved, once an Nulla Osta is granted the Consulate process becomes quite prompt.
Within 3 months of entering Italy, the visa applicant must provide supporting documentation that s/he has executed the investment (or donation) by sending documentation through the relevant authorities.
The investor visa provides an initial 2-year residency, extendable for a further three-year period as long as the investment is your original investment portfolio is maintained in its entirety. After 5 years applicants can apply for permanent residency and after 10 years, citizenship. Additionally, the program includes provisions for family unification, allowing dependant spouses and children to also move to Italy, enhancing the appeal for those looking to relocate their families.
Available Tax Benefits:
Flat tax of €200,000 per year for high net-worth individuals, exempting investors from other Italian income taxes that would otherwise be applicable on their foreign income. This flat tax amount remains in place, regardless of increases in foreign income over time.
KEY POINTS:
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Initial validity of 2 years, extendable for an additional 3 years with potential for permanent residency after 5 years
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Family unification provisions for spouses and children
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Substantial economic contribution through investments:
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€250,000 in innovative startups
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€500,000 in established Italian companies
OR -
€2 million in Italian government bonds
OR -
€1 million donation to an Italian charity
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Financial requirements:
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Proof of source of funds
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Evidence of financial capability to sustain the investment
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2-stage application process:
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Initial online application & receive approval from the Investor Visa Committee
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Visa application at Italian consulate
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Requirement to maintain the investment for the duration of the visa
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No criminal convictions
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Proof of comprehensive health coverage
The Elective Residency Visa
also known as Italy Retirement Visa, provides a unique opportunity for individuals to live in Italy full time without engaging in employment. It is 1-year visa that can be renewed for 2 years, twice. It can also lead to permanent residency after 5 years and, eventually, citizenship.
This visa is well suited to retirees or individuals with stable passive income from investments or pensions. Applicants need to provide proof of sufficient funds to support themselves. Income requirements are stated as follows:
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Single applicants require a minimum net annual income of €31,000 (or equivalent)
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If the applicant is part of a couple or married, they still each need to show a minimum annual income of €31,000
Income cannot be generated from employment on this visa so the applicant must demonstrate that their income is derived through other means, such as:
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a pension scheme
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any form of passive income (i.e. passive partnership in a company)
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interest earned on savings or term deposits
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returns on investments
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income from properties owned (rentals)
Your local Consulate will require clearly documented and detailed guarantees of substantial and stable private income originating from pensions, annuities, income from properties and income from stable economic and commercial activities. Documents that demonstrate a substantial and stable income include official letters from banks, financial consultants, financial institutions, social security institutes, Income Tax Returns for the previous 2 years.
Applicants must provide the consulate with proof of accomodation arrangements by producing one of the following:
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A certified copy of a property purchase contract (title deed)
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A registered lease
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Property gift transfer
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A life interest
In addition to the above, applicants must purchase a travel health insurance premium, with minimum coverage of €30,000 for emergency hospital and repatriation expenses throughout the European Union valid for the entire duration of their stay.
The Elective Residency visa can extend residency to minor children and dependent children over 18 living with their parents, assuming that the visa applicant can demonstrate adequate financial assets to support them.
KEY POINTS
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No employment allowed under this visa
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Long-term residency facilitated (specific duration not mentioned)
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Provisions for spouses and children to relocate
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Financial requirements:
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Minimum annual passive income of €32,000 for each applicant
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The entirety of this income must be from passive sources (pensions, investments, rentals, etc.)
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Proof of accommodation:
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Certified copy of property purchase contract (title deed)
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Property gift transfer
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Life interest
OR -
Registered lease
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Private medical insurance with €30,000 coverage across the European Union for the entire stay duration