If you are a non-EU citizen looking for investment opportunities in Europe, then the Visa for Investors in Italy, Also known as Italian Golden Visa, it could be exactly what you are looking for. This program, introduced by the 2017 Budget Law, was designed to both reward and incentivize foreign investors interested in contributing to the Italian economy and society.
The Law Firm of Attorney Asmahi can guide and assist you in the stages of requesting the Golden Visa for Italy.
What is the Golden Visa?
It is a two-year visa for non-EU citizens who intend to invest in strategic assets for the present and future of Italy.
Residency and Schengen Mobility
One of the main attractions of the Italian Golden Visa is the possibility of obtaining a residence permit, lasting two years and renewable for further periods of three years (Legislative Decree 286/1998, art. 26-bis, paragraph 5), issued to recipients of investor visas following their arrival on Italian territory. Conditions for issuing and maintaining the permit are:
• making the investment or donation declared in the visa application within three months of the date of entry into Italy;
• maintenance of the original investment for the entire duration of the permit's validity. In the absence of one of the aforementioned two conditions, the residence permit for investors can be revoked even before the scheduled expiry and it is not permitted to proceed with its renewal.
Additionally, the program offers the flexibility to travel across Schengen countries for up to 90 days every 180 days, making business and personal exploration easier.
Requirements for the Investor Visa in Italy
Adult natural persons or legal representatives of foreign legal entities can apply for the Visa to Invest in Italy and obtain the Golden Visa.
Eligibility of Family Members
The good news is that family members can also benefit from this program. They can apply for a visa for family reasons and a residence permit, allowing them to stay in Italy for the same period as the main applicant. The two main procedures for family members are family reunification and family cohesion.
Types of Allowed Investments
Italian law specifies the types of investments accepted to apply for the Investor Visa:
- Securities issued by the Italian government: A minimum investment of at least €2,000,000.00 to be held for at least 2 years.
- Securities or shares of a joint-stock company already existing in Italy: A minimum investment of at least €500,000.00 to be maintained for at least 2 years. This amount is reduced to €250,000.00 if you invest in an existing innovative Italian startup company.
- Philanthropic donation to an Italian non-profit organisation: A minimum investment of at least €1,000,000.00 to support projects of public interest in sectors such as culture, research, management of migratory flows and more. The applicant must demonstrate the availability and transferability of a sum equal to €2,000,000.00 (in the case of point 1) or €1,000,000.00 (in the case of point 2).
The Procedure for Obtaining the Golden Visa in Italy
The process for obtaining the Golden Visa in Italy is divided into several key phases, each with its own deadlines and requirements. Here is an overview of the main stages of the process:
Phase 1 – Request for Release of Authorization
In the first phase, the applicant must submit a request for the issuance of the Nulla Osta. This request must be accompanied by the required documentation, which identifies the applicant and proves possession of the personal and economic requirements necessary for the Golden Visa. The documentation required varies based on the type of investment chosen.
Phase 2 – Making the Investment and Issuing the Residence Permit
Once the authorization has been obtained, the applicant can proceed with the request for the entry visa at the consular representation. The visa has a duration of two years, and during this period, the beneficiary must enter Italy and submit the application for a residence permit for investors. This permit has a two-year duration starting from the date of entry into Italy.
Phase 3 – Investment within Three Months
Starting from the date of entry into Italy, the foreign citizen has three months to make the planned investment or donation. It is important to respect this deadline to ensure that your residence permit is maintained.
Phase 4 – Renewal of the Residence Permit
The residence permit for investors has a duration of two years and can be renewed for subsequent periods of three years. The renewal of the permit is subject to the preliminary issuance of a Nulla Osta by the Committee, which must verify that the investment has actually been maintained for the entire period of validity.
The application for renewal of the residence permit must be submitted to the competent Police Headquarters at least 60 days before the permit expires in accordance with current legislation. Therefore, it is essential to request the Authorization in advance of this deadline, by sending the request via the dedicated platform.
Obtaining Italian Citizenship after 10 Years of Residence
A significant advantage offered by the Golden Visa in Italy is the possibility of requesting the Italian citizenship after having legally resided in the country for a period of 10 years and having regularly held the investor residence permit. This represents an important step forward in the integration process for those who wish to settle in Italy permanently.
Once you have obtained Italian citizenship, various opportunities open up. In particular, you become a citizen of the European Union, which means you have the right to move and reside in almost all countries of the European Union without significant restrictions. This relief can be extremely beneficial for those wishing to explore work, study or residence opportunities in other EU countries.
Anti-money laundering declaration
An essential part of the Golden Visa application process is ensuring that the resources for investment come from legitimate businesses. To demonstrate the legitimate origin of the resources, applicants must present an Anti-Money Laundering Declaration obtained from the credit institution where the funds intended for the investment are deposited.
Tax Incentives and Opportunities
Italy offers a number of tax incentives for those who choose to move their residence to the country. These include special tax regimes for “impatriate” workers, resident pensioners, high net worth individuals and foreign professors/researchers. These regimes can offer significant tax advantages and can make Italy an even more attractive place to invest and live.
Conclusions
The Investor Visa in Italy represents a unique opportunity for foreign investors eager to contribute to the Italian economy and culture. With a centralized procedure and a series of tax advantages, this program offers a smooth path to obtaining residency in Italy and starting your investment projects.
To make the most of the opportunities of the Italian Golden Visa, it is essential to have expert professionals at your side. I offer a dedicated service to guide you through every step of the process, simplifying the procedure and ensuring your success. If you would like to start your journey towards the Golden Visa in Italy and benefit from professional advice, do not hesitate to contact me.
Legal advice
If you want more information you can to contact the Asmahi Law Firm, or alternatively request one legal advice also online by clicking here.
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