Italy Golden Visa Program: Complete Guide

The Italy Golden Visa, also called the Investor Visa for Italy, is a program launched in 2017 to stimulate foreign investments and economic development. Under this program, non-EU citizens investing in the Italian economy and their family members can obtain Italian residence permits just in a few months.

Investors choose one of four options to participate in the program. After investing, foreign citizens can benefit from the rights granted to residents, including the right to live, work, study, and receive medical care in Italy.

Investors get two-year residence permits that can be extended for three more years.

Visa-free travel within the Schengen Area. Italian residents can visit all the countries of the Schengen Area without visas and spend up to 90 days out of 180.

Right to live, work and study in Italy. Italian residents can enter the country at any time, even when the country borders are closed, and can spend as much time as needed in Italy.

Foreigners with Italian residence permits can enrol in Italian higher education institutions on the same conditions as the country’s citizens.

Special tax regime. Instead of regular taxation on all income obtained outside Italy, wealthy foreigners can choose to pay a fixed annual sum of €100,000. Furthermore, the investor can include their family in this special tax plan by paying an additional €25,000 for each dependent.

This special tax regime is valid for 15 years, given that the annual fixed payment is made yearly.

Opportunity to obtain residence permits for family members. The Golden Visa program allows the investor to get Italian residency for their spouse, dependent children and dependent parents.

Opportunity to obtain permanent residence and citizenship. After living in Italy for five years, the investment visa holder can apply for permanent residence and benefit from additional rights. These include the right to access Italian social security services and work or study in other EU countries without a special permit.

After residing in the country for another five years, or ten years in total, the Investor Visa for Italy program participant can apply for citizenship.

Once citizenship is obtained, one gets an Italian passport and can enjoy the full rights of the country’s citizens. Examples are the right to visa-free travel to more than 190 countries, voting and holding a public office.

Non-EU citizens over 18 with no criminal records and who can prove the legitimacy of the funds they would like to invest can qualify for the Italy Golden Visa program.

The investor must provide a written commitment to investing in the Italian economy and prove having sufficient capital to reside in Italy: at least €8,500 of income obtained during the previous financial year.

The investor’s family members who can become Italian residents are the following:

• the spouse over 18 and officially married to the investor;

• minor children, including those of a spouse;

• children over 18, unmarried, having no children of their own and financially dependent on the investor;

• parents financially dependent on the investor, with no age limit.

Financially independent adult children and other family members of the investor are not allowed to participate in the Italy Golden Visa program.

1. Investments in an innovative startup. In this case, the investment is made in a government-approved innovative startup. When applying to participate in the program, the investor must provide a business plan.

Startups are the riskiest option, but it has a minimum investment sum — €250,000.

2. Investments in a limited Italian company. The investor can purchase listed or unlisted shares of an incorporated company operating in Italy.

The minimum amount of the investment is €500,000.

3. Philanthropic donation. In this case, the investment is made in a public interest project related to education, culture, science, immigration, and cultural and natural heritage preservation.

The amount of funds needed is €1,000,000.

4. Purchase of government bonds. Investors can buy bonds issued by the Italian government with a remaining maturity of over two years. These bonds include:

• Zero-coupon Treasury Bonds (CTZ);

• Treasury Certificates (CCT/CCTeu);

• Long-Term Treasury Bonds index-linked to Eurozone inflation;

• Long-term Treasury Bonds (BTP);

• BTP ITALIA.

Bonds are the most secure option but also the most expensive one. The investment capital needed is €2,000,000.

Depending on the chosen investment option, the Golden Visa applicant provides specific documents to qualify for the residence permit.

Initially, the Italy Residence Permit by investment is granted for two years. After its expiration, the residence permit can be extended for another three years.

A residence permit renewal is available only for investors able to prove that they have maintained their investment in Italy.

To renew the residence permit, the participant of the Golden Visa Program must obtain a new Nulla Osta, make an application and get a new residence permit card.

The application for a residence permit renewal must be provided at least 60 days before the permit expires.

The Investor Visa for Italy does not provide a direct way of getting Italy citizenship. However, it significantly simplifies the process of becoming a citizen of Italy.

After five years of regular residency in Italy, program participants can apply for permanent residence. After residing in Italy for another five years, a resident becomes eligible to apply for Italy citizenship by naturalisation.

Italian law allows dual citizenship meaning that, in case the country of the current citizenship does not prohibit having a second citizenship, the investor can have two passports.