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A Full Guide [Updated 2021] on the Golden Visa For Italy Program.
What are the new benefits for HNWI Investors?
Table of Contents – Golden Visa Italy Article
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Introduction to the “Golden Visa Italy” Program.
Today’s article is dedicated to those interested in getting a residency in Italy, joining the Italian residency-by-investment Program.
Today, indeed, the Italian Government is continuously improving the so-called “Golden Visa Italy” program to attract more and more Investors and HNWI.
And this is the simplest way to get a residency in Italy for non-EU citizens.
After fully reading this article, You will understand:
- What is the Golden Visa Italy Program;
- What are the main requirements for joining the Investor Visa For Italy application;
- What are the Benefits of applying for the Golden Visa for Italy (with the latest updates)
What is the “Golden Visa Italy” program?
The Golden Visa Italy (aka Italy Investor Visa) is a 2-year visa released to non-EU citizens who choose to make investments in Italy to have the right to stay in Italy as long-term residents.
So this is a so-called Investment by residency Program, designed to have a simple way to get a residency in Italy and enjoy all European rights as European residents.
You can understand, this is a great opportunity to have quick access to Italy and Europe – especially for Businessmen/businesswomen, entrepreneurs, and so on.
What type of key benefits will You have from the Investor Visa For Italy?
You will have huge and multiple benefits: just for listing a few
- Free National Healthcare Application: holders of a Golden Visa Italy can register voluntarily with the Italian National Health Care service. Registration entitles to have a family doctor, access to all specialist tests and visits, be admitted to hospital, etc.
- Optional Tax Benefits: for Applicants with high worldwide incomes, it’s possible to benefit from the Flax Tax Lump Sum Regime, which allows paying only a fixed amount of taxes, regardless of how much income or resources you have. Read all about Lump Sum Flax Tax and the Tax Application.
- Business: You can work, start a business, a Company. You have the same opportunities as Italian or EU citizens.
- Free access for Family Member: you can bring with You your family members, and they will have the same unlimited rights You will have.
- Permanent residency: holders of an Investor Visa in Italy can apply for the residence permit for long-term residents after 5 years of legal stay in Italy. In order to be eligible, they must have registered as residents and filed tax returns. For getting Italian residence, see also the Elective Residence Visa Italy program.
- Italian Citizenship: after 10 years of legal residency in Italy an individual should be eligible to apply for Italian citizenship.
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What are the Latest Updates on Golden Visa Italy? The 1st New benefits.
Before Covid19, the Italian Investor Visa program remained stocked as created in 2018, for the first time.
The Government added no particular updates except for minor changes on the Investor Visa Policy guidance.
But, thanks to the Covid-19 pandemic, the Italian Government decided – with “Rilancio Decree” last summer – to decrease minimum investment amounts requested to join the Golden Visa Italy program.
Indeed, Italy wanted to attract new investors in a situation of economic instability as the Italian market was a really hot opportunity.
So now The options are as following:
|Investment in Italian Government Bonds||2,000,000 €||2,000,000 €|
|Investment in Italian Company||1,000,000 €||500,000 €|
|Investment in philanthropic donations||1,000,000 €||1,000,000 €|
|Investment in Italian Innovative Start-Up||500,000 €||250,000 €|
The 2nd benefit of the Golden Visa Italy.
There is one and recent huge benefit, as introduced on the new Immigration Law D.Lgs. 286/98, on art. 26bis, here reported as written:
((5-bis. Il soggetto titolare del permesso di soggiorno per investitori esercita gli stessi diritti inerenti al permesso di soggiorno per lavoro autonomo di cui all'articolo 26, e' esonerato dalla verifica della condizione di reciprocita' di cui all'articolo 16 delle disposizioni sulla legge in generale premesse al codice civile e, per la durata complessiva di cinque anni a decorrere dal primo rilascio, e' esonerato dall'obbligo della sottoscrizione dell'accordo di integrazione di cui all'articolo 4-bis e dagli obblighi inerenti alla continuita' del soggiorno in Italia previsti dal regolamento di attuazione)).
What does it mean?
It means that the owner of the Golden Visa For Italy will be able to maintain his/her residency in Italy if he/she will exit from Italy, and without worrying about the fact he/she must enter sometimes for interrupting the absence.
This is a big update; as for all other VISAs, it’s mandatory to maintain the residency active – so the resident is now allowed to stay outside Italy for more than certain times.
The Italian Government understands an Investor is generally a person who handles different business abroad, so it’s hard to pretend he/she will stay in Italy and/or impose to enter Italy sometime.
Another update is related to the applicant itself, who can also be a CEO or other legal representative of the foreign Company – allowing, technically, to make the investment through the Applicant’s Company itself:
1. L'ingresso e il soggiorno per periodi superiori a tre mesi sono consentiti, al di fuori delle quote di cui all'articolo 3, comma 4, agli stranieri che intendono effettuare ((, in nome proprio o per conto della persona giuridica che legalmente rappresentano)):
What is the Procedure of the Golden Visa Italy?
The Golden Visa Italy Procedure can be split in 2 main phases.
1: Evaluation of the Investor Visa Committee – Comitato Investor Visa.
The first phase is related to the Golden Visa Committee (aka Comitato Investor Visa For Italy) that will evaluate Your investment plan.
This is the most difficult part of the entire procedure, so that’s why it’s highly recommended to hire Italian Immigration Lawyers, like us, who specialized in Investor Visa and Golden Visa procedures.
They will evaluate, mainly, the sources of amounts You want to invest, destinations, instruments, etc.
The decisional process takes around 30 days – which may be suspended during the application if the Committee will require You to bring more documents.
If You will be successful, You will begin Phase 2.
2: The Golden Visa Italy application through the Italian Consulate.
As you will receive Your approval, then You can apply for the VISA Itself.
Your VISA will be processed before any others.
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Golden Visa Italy F.A.Q.
As reported by Investor Visa for Italy Policy Guidance, You can invest in every Company on the regulated stock market. So it can be a S.pA. ,mainly. The Company, obliviously, must be legally resident in Italy.
As reported by Investor Visa for Italy Policy Guidance, he Company must be legally resident in Italy.
So pay attention on this requirement, specially with Holding Groups.
As reported by Golden Visa for Italy Policy Guidance concerning limited companies, both capital increases and the purchase of shares already issued are considered as qualifying investments.
Also philanthropic donations or Government Bonds or investments in an Innovative Italian StartUp can be accepted.
Why this? In order to correctly apply for Investor Visa for Italy, each documents must be in line with EU and International Law and Regualtions, such as as FAFT, GAFI.
Only a qualified Lawyer, like Us, can be assist You in the most complete and qualified way.
This is not specified on the Investor Visa for Italy Policy Guidance: concerning limited companies, No, the investment must be directed to only 1 company per application.
By extension, it is also not allowed to combine different types of investment (e.g. direct part of the amount to a donation and part to an investment in shares).
This is not specified on the Investor Visa for Italy Policy Guidance: Family reunification is allowed and regulated by the general laws on the subject, in particular by art. 29 of Legislative Decree no. 286 of 25 July 1998 (Consolidated Act on Immigration – TUI).
The categories of family members for whom reunification is allowed are listed in art. 29 of the TUI:
a. spouses not legally separated and aged over 18;
b. minor children – including those of the spouse, or those born out of wedlock – who are unmarried, provided that the other parent has given his or her consent;
c. dependent children aged over 18, if for objective reasons they are unable to provide for their essential needs due to health conditions implying total disability;
d. dependent parents, if they do not have any other children in the country of origin, or parents over 65 years of age, if the other children are unable to support them due to serious and duly documented health conditions.
Can the holder of Golden Visa Italy carry out self-employment and/or dependent employment activities?
This is not specified on the Investor Visa for Italy Policy Guidance: Yes, Investor Visa For Italy do not provide for any legal restrictions concerning employment status.
This is valid also for Family members, as they join all Investor Visa For Italy Benefits.
During the 2-year validity period of the Investor Visa For Italy, is it possible to change the composition of the investment portfolio?
This is not specified on the Golden Visa for Italy Policy Guidance: No, the investment portfolio must not be changed during the 2-year validity period of the residence permit.
The investor must maintain the original investment for the entire duration of the permit, otherwise it will be revoked.
This is not specified on the Investor Visa for Italy Policy Guidance: The Investor Visa For Italy processing time depends on different factors.
The Investor Visa Commitee will evaluate Your investment plan in 30 days.
Also for the Consular phase, this is really fast, as the Investor Visa For Italy is a high-priority Visa. Timing depends on Consulate.
This is specified on the Investor Visa for Italy Policy Guidance: The Investor Visa for Italy is split in two different phases.
The 1st one, where you will prepare Your investment plan and You will collect all investment documentations.
The second part, regarding the application at the Italian Consulate, after the Investor Visa Commitee approved Your Investor Visa For Italy documents.
This is specified on the Investor Visa for Italy Policy Guidance: the investment will be done in 3 months after the Investor Visa For Italy approval.
This is specified on the Investor Visa for Italy Policy Guidance: No, the investment must be carried on by a single physical person directly.
This is specified on the Investor Visa for Italy Policy Guidance: the Electronic Signature is a special signature that You must obtain in Italy, release by certified Companies allowed by the Government.
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