Disclaimer: the informations below are not a legal advice – the Golden Visa Italy applications are on a case by case basis, that we will evaluate with the Client.
The applicant shall provide documentation about his/her funds, so:
1. Written evidences with reference to the availability of sufficient funds,
in order to complete the investment described in the application,
2. Written statement regarding the lawful origin of the funds.
About this point:
The applicant must demonstrate that the financial resources destined for the investment/donation originate, beyond all reasonable doubt, from sources that are licit according to Italian law. The following supporting documentation must be provided for this purpose:
- if the resources have been deposited or invested in the applicant’s name at a credit/financial institution for the entire last three months, it is sufficient to submit, in addition to the documentation issued by the institution (see par. 5.a), a representation of the applicant certifying the legal provenance of the resources;
- if the resources have been deposited or invested in the applicant’s name at a credit/financial institution for a period shorter than the last three months, further documentation demonstrating the legal provenance of the funds must be attached to the application.
- Said documentation will vary, depending on the nature of the financial source (donation, sale of assets, revenues on an economic activity, last will and testament, divorce, prize or win, etc.), but must always indicate the transaction date, the sum, the provenance and the consignee. It must be accompanied by a report of an independent legal or accounting expert, certifying that the informationprovided is truthful.
3. Written commitment about the completion
of the investment by 3 months after his/her date of entrance in Italy and its duration which must be not shorter than 2 years,
4. Written description of the characteristics of the investment/donation
and certification of recipients consent.
About this point:
The information required varies according to the type of investment.
The type of financial instruments, the amount of the investment and the bond maturity date must be indicated for an investment in Government Bonds. Several types of securities are permitted.
In the case of investments in limited companies, including innovative startups, the tax ID (“Codice Fiscale”) of the company and the amount of the investment must be indicated. This information must be accompanied by an illustrative prospectus describing the methods and purposes of the investment.
The documentation must be accompanied by a declaration of consent of the local representative of the recipient company or its representative.
The tax ID of the recipient entity (or entities if the donation involves several recipients) and the amount (with specification of the partial amounts if there are a plurality of recipients) must be indicated for a donation. This information may be accompanied by a prospectus describing the methods and purposes of the donation and the expected social impact.
The documentation must be accompanied by a declaration of consent of the local representative of the entity receiving the donation or its representative
5. Written declaration of commitment on use of the funds, validated with an electronic signature,
including indication of the sum it is intended to invest and the municipality of intended establishment.
About this point:
The application documentation is completed with a specific final declaration of commitment. Said declaration, which also serves as formal confirmation of all the materials submitted in the application, is produced automatically by the platform.
In this declaration, theapplicant must represent:
• their personal details: name, surname, place and date of birth, place of residence, nationality, passport number and expiry date ;
• that they are the owner of the financial resources used, that said resources are available and transferable to Italy, and that they originate from sources that are licit according to Italian law ;
• that they undertake to make the investment or donation within three months of entering Italy;
• the precise sum in Euro destined for the investment or donation;
• the references of the recipient of the investment or donation, and confirmation that consent has been acquired ;
• that they are aware that the authorisation to remain in Italy will be revoked if the investment is not made within said term, or withdrawn or abandoned within the two years after issue of the visa;
• that they grant authorisation for processing of their personal data.
The applicant must sign it electronically.
If the available resources are in the form of a bank deposit:
- A copy of a bank statement of account, indicating the transactions performed in the three months prior to submitting the candidacy, if the sum is held in the form of a bank deposit
- The statement of account must contain: the name of the holder;the account number;the date of the statement of account, which must not be over 30 days prior to the candidacy date;the name of the bank;the amount of funds in the original currency.
If the available resources are in the form of financial instruments, including, by way of non-limiting example, stakes in limited companies, investments in Government bonds or pension funds, etc.:
- Documentation describing the financial instruments held or acquired by the applicant over the three months prior to the application date, also in the form of a portfolio issued by a credit institution, an investment fund, or similar.
- These requirements are satisfied by all investments which may be converted into immediately liquid financial resources and which, in any case, can be liquidated within the maximum term for making the investment, as envisaged by art. 26-bis TUI.
6. An official letter from the institution where the funds are held,
signed by an authorised representative. The letter must confirm:
- that the account or investments are in the applicant’s name;
- that the institution has performed sufficient checks on the customer in accordance with international standards;
- the precise amount in the applicant’s possession, in both the original currency and in Euro, at the exchange rate applied at the time of signing;
- in the case of securities or shares , the purchase date and, if applicable, thevalidity period;
- information on the origin of the funds;
- that the sum is entirely transferable to Italy, within the times for executing the investment envisaged by art. 26-bis TUI;
- availability of the institution’s representative to respond to requests for more information (if requested);
Attention: Demonstration of possession of non-liquid assets, such as real estate or stakes in companies not limited by shares, will not be accepted as proof of financial resources, even if a promise of sale is present, since there is no guarantee that the estimated value is equivalent to what is effectively obtained following disposal.
7. Personal criminal records
issued by the competent authorities of all the countries in which she or he resided in the last 10 years.
The applicant must declare any final criminal convictions or pending charges.
One or more certificates of non-existence of final criminal convictions and pending charges, issued by the countries where the applicant has resided for over twelve consecutive months over the last 10 years, starting from 18 years of age, must be attached to the application.
The certificates, apostilled or authenticated, must be issued by the competent authority for each country.
If these certificates are not available in the local legal system or there are objective reasons which prevent the applicant from obtaining them, the applicant must indicate this in a representation in Italian or English. Certificates which are invalid (e.g. because they have exceeded the required expiry date) or illegible must be replaced.
8. All Applicant infos and bio.
Contact details so:
- personal details (name surname, place and date of birth, nationality), as indicated on the passport
- current address of residence;
- one or more personal e-mail addresses, i.e. managed directly by the visa applicant;
- one or more personal telephone numbers;
- optionally, other channels of communication (e.g. instant messaging, social network).
- The applicant must upload a high-quality scan of the main page of the passport, including the photograph,personal details, issue date and expiry date of the document.
- The applicant must also indicate the passport number, issue and expiry dates on a specific form.
- If the visa application is accepted, the passport must have a remaining validity period of at least two years and three months at the date when the visa application is submitted at the competent Embassynor Consulate.
The applicant must fill out a form, on the dedicated portal, certifying the following information:
1. Most relevant professional experience, indicating:
- a.employment relationship start and end dates
- entity or company;
- position held;
- brief description of activity (max 500 characters);
2. Academic or professional training, indicating:
- study course start and end dates;
- level of education, by selecting one of the following fields:
- high school diploma/ occupational training diploma (level 4-5 of the European Qualifications Framework);
- university degree (three-year, Bachelor’s – 6 of the European Qualifications Framework);
- postgraduate university degree (three-year, Master’s – 7 of the European Qualifications Framework);
- postgraduate studies (research doctorate, level II Master’s – 8 of the European Qualifications Framework);
- name (and area) of the study course;
3. brief description of the applicant’s past experience as an investor (max 1,000 characters);
4. language skills, indicating the relative level of knowledge for each language (elementary, good, excellent/mother tongue)