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- What Is the Investor Visa for Italy?
- How to Get an Italian Investor Visa
- We’re here for your Italian Investor Visa application!
- The Advantages of Obtaining an Investor Visa for Italy
- Why you’ll need an Italian Immigration Lawyer for your Investor Visa for Italy.
- Why You Should Obtain an Investor Visa for Italy
- Find a Qualified Expert for an Investor Visa for Italy
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With Italy having the third largest migrant population in all of Europe, it’s no wonder that people continually look to make the country their permanent residence. Italy has a rich culture, delectable cuisine, and friendly citizens, making it an ideal place to live and visit.
There are a variety of ways foreign citizens can obtain a visa in Italy. One of the ways you can become a resident is by getting an investor visa for Italy. With an Investor visa for Italy, people can partake in various business opportunities while living in one of the most beautiful places in Europe.
If the Italian investor visa program sounds like something that would appeal to you, continue reading for more information. We’ve created a guide that’ll outline everything you need to know about the program and how it can benefit you.
What Is the Investor Visa for Italy?
Another term for an investor visa in Italy is the Golden Visa Program. It started in 2018 but only since mid-2020 has it become a true Golden Visa. The visa is a two-year visa that non-EU citizens can receive to stay as a long-term resident and potentially a citizen (so, it’s a residency-by-investment Visa program).
The Investor Visa program targets individuals who have a high net worth (HNWIs). These types of people can make significant contributions to the community and economy of Italy. That’s why one of the main factors of obtaining a visa through this program is making specific investments.
Other countries have their own Golden Visa programs, but Italy’s varies from theirs. The main difference is that with the Italian program, individuals have to do one of the following things:
- Invest in a start-up or LLC
- Purchase government bonds
Some other counties, like Spain or Portugal, allow individuals to make real estate investments, and Italy does do not allow visas for real estate investments.
How to Get an Italian Investor Visa
There are a few conditions a person has to meet when they apply for an investor visa in Italy. They include:
- Clean criminal background
- At least 18-years of age
- In good health
- Invest around a quarter of a million euros (250,000 €) in a start-up company or;
- Invest around 500,000 € in an Italian company that meets government criteria or;
- Invest around two million euros by purchasing Italian issued and approved bonds or;
- Invest around one million euros in a philanthropic initiative that will benefit the Italian economy
As you can see, the minimum amount of funds a person will need for this visa is at least a quarter of a million euros. Additionally, there has to be evidence that you legally obtained the funds.
Which investment opportunity you go with entirely depends on your personal preference. You may want to help a new business get its feet off the ground. You could wish to make a donation to a philanthropic organization that’ll make a significant impact on the Italian economy and community.
One of the best things about this type of visa is that you don’t have to make your investment until approved. This lowers the risk on the investor’s part. You don’t have to make a donation or invest your funds only to be denied afterward.
The Process and Timeline of Getting an Investor Visa for Italy
As with any other type of visa or passport application, there are specific processes you’ll need to follow. You can expect it to take 90 to 120 days from when you first send in your application, making for a reasonably quick process. Once you obtain your visa, you’ll have to make your investment with the first three months of entering Italy.
Below are the following steps you’ll have to take to get an investor visa.
The first thing you’ll need to do is apply for a certificate of no impediment, also called a nulla osta. This process is not simple – all you have to do is fill out some online forms, and you’ll also have to submit various copies of the required documents.
The documents you’ll need include:
- Your passport
- A CV that highlights your professional experience and academic qualifications
- Description and/or plan of your investment
- Proof and evidence of financial resources that you’ll use for your investment or donation
- Proof of consent from the organization or company you want to donate to or invest in
- Proof of good state of health and clean criminal background
- A signed Declaration of commitment that states where you want to live in Italy and the amount you’re going to invest
Once all of these documents have been submitted, they’ll be reviewed by the Investor Visa for Italy Committee. If they’re approved, your application will move onto the Italy Investor Visa Committee to be evaluated further. You’ll typically hear back on the decision regarding your nulla osta within 30 days.
Once you’ve been approved, you can apply for an Italian investor visa. You can go through this entire process yourself. Many people choose to work with a qualified Italian immigration lawyer to ensure no errors are made.
Once your nulla osta has been approved, it’s valid for six months. You’ll have to apply for an Investor Visa for Italy during that time, and you can use it at an Italian Consulate or Embassy.
You’ll need the following documents:
- Copy of your nulla osta
- Your passport
- Original hard copies of all the documents you submitted for your nulla osta
- Passport-sized photo
- Proof of Italian accommodations
- Proof of residency in your home country
- Proof of your income from the previous financial year that shows you can financially support yourself and all of your dependents
These documents need to be in English or Italian to be considered valid. If they’re in a different language, they’ll have to be translated by a certified organization or person. Once the documents have been reviewed and approved, the visa is valid for two years.
You’ll need to go to Italy within two years of obtaining your Investor Visa for Italy. You have to take certain steps once you get there to get your residence permit.
You’ll first need to visit the local police headquarters to apply for a Residence Permit as the owner of the Investor Visa for Italy. This permit will be valid for two years from the day you first come to Italy.
Once you have that permit, you’ll have to fulfill your investment commitment. If you don’t do so within three months, your visa will be revoked.
You can renew your permit after two years, but you have to maintain your donation or investment. Subsequent renewals last for three years.
After you’ve been in the country for five years, you can apply for a long-term EU residency and obtain citizenship by naturalization after being in Italy for ten years.
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The Advantages of Obtaining an Investor Visa for Italy
In addition to becoming a resident of Italy, there are a variety of additional benefits to an investor visa:
- Investment Possibilities: Choose from a variety of investment possibilities instead of only having one to go with
- Multiple Choices: However you want to become an Italian citizen, there are a variety of programs for you to choose from
- Moderately Low Investment: With the lowest option being an investment of 500,000 euros, it’s a low-entry point for those who enjoy investing
- Powerful Economy: Italy is the third-largest economy in Europe, making it an excellent place for investors to call home
- Special Taxation Regime: Italy allows retired foreign citizens to pay 0% income tax if they qualify for special conditions
With the Italian culture and the above benefits in mind, it’s no wonder that many foreign citizens choose to make the jump to moving to Italy.
Why you’ll need an Italian Immigration Lawyer for your Investor Visa for Italy.
The process and paperwork required to apply for an investor visa can be complicated, especially if you’ve never done it before. It’s best to partner with an immigration lawyer that has experience in the area.
While it’s great that there are a various investment and donation options to choose from, they can be complex. It can be hard to evaluate various companies to invest in that are legitimate. An expert in investor visas will help you select the best one that fits your budget and needs.
It can also be overwhelming to deal with all the documentation required for the nulla osta and the final Investor Visa for Italy. If you miss any detail, it could result in your application getting rejected. A specialist will evaluate all of the documents you submit, ensuring that all the details are correct.
If you decide to go down the naturalization route to become an Italian citizen, that’s where it can get complicated. Knowing the details about the subsequent renewals you have to do as well can become complex.
Working with an Italian investor visa expert will give you peace of mind and more confidence. They have the experience and knowledge needed to ensure that you’re on the right track and no detail is overlooked.
Why You Should Obtain an Investor Visa for Italy
When you become a dual-citizen of Italy and your home country, you’re able to partake in all of the benefits of both countries. Becoming an Italian citizen provides you with a variety of benefits and opportunities.
The educational system in Italy is very affordable. Whether you’re looking for education opportunities for yourself or your children, you can pay EU tuition rates. Tuition rates in Europe are far less expensive than the costs in the United States.
As an owner of the Investor Visa for Italy (or as an Italian citizen), you can choose to enroll in a European university, just as an Italian national would. There are a variety of programs to choose from throughout countless EU countries.
You may decide you want to work at an international company. Having dual-citizenship is a great bonus for you. Companies that have worldwide offices can send individuals with dual citizenship to other locations without obtaining a work visa for them.
If you’re an entrepreneur that has dual citizenship, you can start a company far easier. You’ll have a shared currency with one economic zone that doesn’t have the same restrictions imposed upon them as a non-EU citizen would.
Investors that also have an Italian passport can purchase foreign securities, such as real estate, unit trusts, and other investment funds without additional restrictions.
A considerable benefit of having dual citizenship is working, living, and traveling in any of the EU countries. You won’t need visas when traveling throughout the EU, and you can also live in any other country that you’d like as well.
You can seek guidance and help from two different consulates when you travel abroad since you’re a citizen of two tries. If you’re in an area that doesn’t have an Italian consulate or embassy, you can access any EU embassy if you have an EU passport.
You’re also guaranteed protection from the Europen Convention on Human Rights (ECHR). It’s a set of guidelines and laws that protects the rights of people in countries that are part of the Council of Europe. All members of the EU enforce the rules in order to protect European citizens within their borders.
You can apply for an Italian National Healthcare Card to receive Italian and EU healthcare as an Italian citizen. Italian healthcare is one of the most affordable and best in the world.
With this card, you’ll also be able to get emergency healthcare services in other European countries. Your Italian insurance gives you easy access to healthcare in different countries and the costs are more or less the same.
Another great benefit is the fact you can pass on your Italian citizenship to your children.
Find a Qualified Expert for an Investor Visa for Italy
Attempting to apply for and maintaining an investor visa for Italy can be complicated. The last thing you want is to reject your application after spending so long getting the documents prepared. Partnering with a qualified Italy Investor visa expert will ensure the process goes as smoothly as possible.
Contact Us at Bersani Law Firm for a consultation on your Investor Visa for Italy!