One of Italy’s best-kept not-so-secret visas: The Investor Visa. Italy launched an investor visa program a few years back in an effort to attract foreign investors to the country. It means you can move to Italy for 2 years with a minimum investment of €250,000. Don’t worry -there are many great tax schemes for your investor residency as well, while we will outline some of those tax benefits, always be sure to consult with a local accountant. But now let’s explore Italy’s investor visa!
What is Italy’s Investor Visa Program?
The program aims to simplify the process of obtaining a residence permit in Italy for non-EU citizens, which in turn they hope will stimulate economic growth and development. Through the investor visa program, non-EU citizens can obtain a residence permit in Italy for up to two years, with the possibility of renewal for an additional three years.
Moving to Italy through the investor visa program has some other benefits: access to Italian healthcare, and the ability to travel within the Schengen Area without additional visa requirements.
How it Works
To be eligible for the investor visa in Italy, the applicant must make an investment in one of a few ways:
- Purchasing government bonds (min. €2 million)
- Investing in an Italian company (€500k)
- Donating to a philanthropic project (€1 million)
- Investing in an innovative start-up company (€250k)
The investment must be made towards only one agency and does not need to be made until after approval. Funds also do not need to be transferred until the Nulla Osta – the first step in the visa process – is approved.
How to Apply
Check out this site for all the details and to get started on your application. You’ll first need to get a Nulla Osta – permission before the visa. This will require the most documentation, however, it will be fairly standard proving that you have the funds and can transfer them, and where you will transfer them too.
To apply for the investor visa, the applicant must submit the following documents:
- Valid passport
- Nulla Osta (Pre-Approval, and proof of investment)
- Proof of health insurance
- Proof of accommodation in Italy
- Proof of financial means to support themselves and any dependents
- Criminal background check
The processing time for the investor visa application is approximately 30 days.
Tax Schemes for Investors
For those who have not resided in Italy for the past 9 years, a flat tax on foreign-generated income is available. This means they will pay a lump sum of €100,000 to cover all foreign-generated income during their residence in Italy. If they have moved to Italy with family members, investors will pay an additional €25,000 per family member.
This scheme is very beneficial to investors who have substantial assets abroad, as once their residence is taken up in Italy, they will be subject to Italian taxes.
However, participation in the scheme is optional. If you evaluate and discover that you would pay less by following normal tax guidelines, you are not obligated to adhere to this scheme. Find out more at https://investorvisa.mise.gov.it/index.php/en/home-en/special-tax-regime-for-new-residents.