Pros and Cons of Italy Golden Visa

The Italian residency by investment program is a simple and accommodating path for non-EU nationals to acquire residency in Italy with various investment choices accessible.

The Italian government has divided the application procedure into two stages, starting with a Nulla Osta from the Italian Ministry of Interior, which serves as preliminary authorization for your investor visa application at your local Italian embassy or consulate.

Investment asset variety:

1. Government bonds: Invest in Italian government bonds with a minimum value of €2 million held for five years.

2. Limited companies. Purchase shares worth at least €500,000 in an existing Italian limited company or establish one yourself.

3. Innovative startups. Contribute €250,000 towards financing an innovative startup registered within Italy's special section dedicated to these businesses.

4. Philanthropic initiatives. Donate at least €1 million towards public interest projects such as culture, education, immigration management or scientific research.

The Italian residency by investment program offers flexibility and choice to suit various investor preferences and goals.

Since its launch in 2017, Italy has made significant changes to the program, including streamlining application processes for faster approval times, making it even more attractive for foreign investors looking to enter Italy through this investor visa route.

1. Travel privileges, including visa-free entry into the Schengen Area. Enjoy visa-free travel throughout the Schengen states and up to 90 days per six months.

2. Right to live, work and study in Italy. Italian residents can enter the country anytime and spend as much time as needed in Italy with the right to work there.

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

3. Special tax regime (art. 24-bis TUIR). Italy offers a yearly substitute tax on all foreign-source income for individuals who transfer their tax residence to Italy and have not been Italian tax residents in at least nine of the ten preceding years. The rate depends on when the regime was elected:

• Elected from 1 January 2026 (current): €300,000 per year, plus €50,000 per year for each qualifying family member who joins the election.
• Elected between 11 August 2024 and 31 December 2025: €200,000 per year, plus €25,000 per year per qualifying family member.
• Elected before 11 August 2024: €100,000 per year, plus €25,000 per year per qualifying family member.

The regime lasts up to 15 years, administered by the Agenzia delle Entrate. Italian-source income remains taxable at ordinary IRPEF rates regardless of cohort. Consult a qualified Italian tax adviser for case-specific guidance, as thresholds and conditions can change.

4. 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 parents.

5. 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 EU countries without another permit.

After living in the country for another five or ten years, the Italy Golden Visa program participant can apply for citizenship.

6. Business activities within Europe. Conduct business in Italy without restrictions or additional permits.

7. Cuisine. Italian food is renowned worldwide for its delicious flavours, fresh ingredients, and diverse regional specialities.

8. Historical sites and natural wonders. Italy is home to some of the most famous landmarks in history, such as the Colosseum in Rome or Florence's Duomo Cathedral.

With breathtaking sceneries like Lake Como nestled amidst towering Alps peaks or sun-kissed Amalfi Coast cliffside towns overlooking azure waters below — it's no wonder that so many people dream about calling this beautiful country home.

Apply for the Italy Golden Visa program and secure a Nulla Osta before applying for an Investor Visa Residence Permit.

Start by completing online forms and attaching documents such as proof of investment funds, private medical insurance coverage, and clear criminal records from your home country.

Once approved, visit your local police station or Italian embassy abroad to apply for the current residence permit and provide additional documentation, such as proof of accommodation within Italy upon arrival.

Remember, investing in government bonds or innovative startups is required to participate in the Italy Golden Visas program, so research each option thoroughly before making any commitments.

While the Italian Golden Visa program offers numerous benefits, some drawbacks exist.

Lack of real estate investment options. The Italian Golden Visa program does not offer real estate investments as part of its primary offerings.

Consider the Malta and Greece programmes, which retain active real estate investment routes. Portugal removed real estate from its ARI under the Mais Habitação reforms (effective late 2023), and Spain closed its Golden Visa real estate route in April 2025.

Buy medical insurance. Before applying for the Italian Golden Visa program, ensure private medical insurance coverage for yourself and your family members.

Get a police clearance certificate. Prospective investors must have clear criminal records to maintain eligibility for the Italian investor visa.

You may need a police clearance certificate from your home country or any other country where you've resided.

Buy or lease property in Italy. Successful applicants should also secure proof of accommodation within Italy upon arrival.

It can be done by renting or purchasing property through legitimate channels like real estate agencies and ensuring compliance with EU regulations when entering property transactions.

The Italy Golden Visa program is an excellent option for wealthy individuals seeking to invest in Europe, offering access to healthcare, education, business opportunities, and tax incentives. It has disadvantages, such as a lack of real estate investment options.

Before applying for an Italian Golden Visa, it's crucial to understand the process of obtaining Nulla Osta and a residence permit, complying with EU and international regulations, securing private medical insurance, and providing proof of accommodation.