Italian Golden Visa: Unlocking Opportunities

Dreaming of a life in Italy? The Italian Investor Visa, also known as the Golden Visa is an interesting solution for non-EU citizens who choose to invest in strategic assets that benefit Italian economy and society.

In this blog post we explore eligibility, investment options, and the application process. To discuss your situation and eligibility, get in touch for a free consultation.

What is the Italian Golden Visa?

The 2017 Budget Law introduced the Italian Golden Visa. It allows foreign investors residency in Italy for 2-5 years as well as travel within Schengen countries. This initiative bolsters Italy’s economy and visa system, offering a gateway to long-term investments.

Requirements for the Golden Visa in Italy

To apply, non-EU citizens must:

– Be 18+ or a legal entity’s representative.
– Meet investment thresholds.
– Provide an Anti-Money Laundering Declaration.
– Demonstrate financial stability.

Eligibility of Family Members

Family members can obtain visas and residence permits, fostering family reunification or cohesion.

Types of Golden Visa Investments

Options include government securities, company shares, or philanthropic donations, each with specific investment criteria.

Italian law outlines the eligible investment options for the investor visa application as follows:

– Securities issued by the Italian government: Requires a minimum investment of €2,000,000.00, which must be held for at least 2 years.
– Stocks or shares of an existing capital company operating in Italy: Involves a minimum investment of €500,000.00, to be held for at least 2 years. However, if investing in an existing innovative Italian startup, the amount is reduced to €250,000.00.
– Philanthropic donation to an Italian non-profit organization: Supporting public interest projects in sectors such as culture, research, migration management, or restoration of natural/artistic resources requires a donation of at least €1,000,000.00.

Additionally:
– The applicant must demonstrate ownership and be the beneficial owner of at least €2,000,000.00 (in the case of securities) or €1,000,000.00 (for shares/stocks or philanthropic donations), which must be available and transferable to Italy.
– A written declaration committing to using the funds for eligible investments or donations within three months of entry into Italy is required.
– Sufficient resources, beyond the investment funds, must be demonstrated to cover the applicant’s living expenses during their stay in Italy, exceeding the minimum level for exemption from healthcare expenditure as per the law.

Anti-Money Laundering Declaration

Only single investments are permitted, with funds verified for legitimate origins.

Transferring Funds and Nationality Considerations

Transferring funds to Italian banks may ease the application process. Nationality doesn’t directly affect eligibility, but origins of funds may trigger scrutiny.

Additional Considerations and Investment Types

Ensure compliance with Italian law when choosing investments, whether in companies or bonds.

How to Obtain the Golden Visa in Italy

The Investor Visa falls outside the annual entry quotas set by the Italian Government, allowing applications at any time without quota restrictions.

The initial step involves applying for a Nulla Osta, available through the Ministry of Economic Development’s online portal. The application requires submission of:

– Personal details
– Passport copy
– Applicant’s CV
– Investment type indication
– Evidence of investment ownership
– Clean criminal record confirmation
– Investment description and recipient consent attestation

Following a preliminary review by the Committee’s Secretariat, the application undergoes evaluation, with the Committee typically issuing the Nulla Osta within thirty days.

Subsequently, applicants have six months to visit an Italian diplomatic mission in their home country to finalize the investor visa application. Entry into Italy is permissible within two years of visa issuance.

The investor visa grants a two-year validity period in Italy. Upon arrival, applicants must apply for a residence permit for investors at the Questura within eight days. This permit remains valid for two years from the date of entry into Italy.

Issuance and Maintenance of Residence Permit

Investors must fulfill investment commitments and maintain original investments for permit validity. Renewals and citizenship opportunities follow.

Incentives for Investments in Italy

Tax incentives and work permit options enhance the allure of Italian residency for investors and their families.

Special Italian Tax Regimes

Impatriates Regime

Designed for employees and self-employed individuals relocating their tax residency to Italy for work. Income from dependent work or self-employment in Italy is taxed at 30% for 5 years, or 10% in Southern Italy. The regime can extend for 5 more years under specific conditions, with 50% of income taxable during this period.

New Tax Regime for Resident Pensioners

Non-resident pensioners in Italy receiving foreign pensions can opt for a 7% flat tax on foreign source income if they meet certain criteria and reside in qualifying municipalities.

Special Tax Regime for High Net Worth Individuals

Available to those not tax residents in Italy for 9 out of 10 years preceding their transfer. Exempts them from applying a substitute tax to foreign income.

Italian Tax Incentives for Foreign Professors and Researchers

Offers a 90% reduction in taxable income for researchers and professors, with durations of 8, 11, or 13 years, contingent upon residency in Italy.

Finally …

To navigate the complexities of the Italian Golden Visa, expert legal counsel is essential. With over five decades of experience, De Tullio Law Firm is your trusted partner, offering personalized advice to international investors. Specializing in real estate, residency, family law, and inheritance matters, we ensure pragmatic solutions tailored to your needs. If you’re considering investment in Italian real estate, contact us today. We’re dedicated to guiding you through every step of the process with confidence and clarity.