Foreigners can immigrate to Italy for personal or business purposes. The good news is that in recent years, Italy has entered the ranks of countries which have enabled programs for obtaining a residence permit by investing in this country, also known as golden visa for Italy. The latest change in the residence permit by investment program in Italy was introduced in 2017. Foreign citizens from non-EU countries interested in immigration by investment in Italy will first obtain permanent residence permits which can later be converted into Italian passports.
|Nationalities accepted (EU/Non-EU)||
Both EU and non-EU (simpler rules for EU citizens)
Business investment option
– Golden Visa/ Investor Visa program,
– the Startup Program, etc.
Real estate investment option
Investments in real estate can facilitate access to residency in Italy (there isn’t a minum threshold for the value of the property)
|Other investment options (if available)||
The Startup Hub program
|Residence or direct citizenship option||
In order to become a citizen, the investor must first be a permanent resident of Italy
|Direct immigration with family members||
|Family members allowed to join the program||
Close family members, such as dependent children/spouse/parents
|Timeframe for obtaining citizenship/residency by investment||
Permanent residency can be obtained in 5 years, while citizenship, in 10
|Dual citizenship permitted||
Yes (certain limitations can appear based on the citizenship law in the home country of the foreigner)
|Reasons to choose Italy||
– top global economy,
– important market for manufacturing and export,
– investments in R&D,
– quality of the workforce,
– incentives for businesses and foreign investors
|Visa free travel to other countries (approx. number of countries)||
|Obligation to travel to Italy for the processing of the visa (yes/no)||No|
Approximate processing time for the investor visa
|Around 3-4 months|
Right to work in Italy
Before you obtain citizenship by investment in Italy, you can become a permanent resident along with your family members, who can also have the right to work in this country.
|Validity of the investor visa||2 years|
|Validity of the investor residence permit||
|Residence permit renewal||
The residence permit can be renewed upon expiry for 3 years.
After that, you can become a permanent resident and later, you can obtain citizenship by investment in Italy.
|Possibility of renewal of the investor visa (yes/no)||
|Rules for special categories of family members (under the investor visa)||
Dependent children with an age above 18 years old can be included in the application if they have certain limitations (such as invalidity).
Parents with an age above 65 years old can be added on the visa application if they are financialy dependent of the applicant.
|Special tax regime for visa holders||
Flat tax regime on the income generated outside the country – the visa holder will pay EUR 100,000 in Italy, regardless of the annual net worth obtained from foreign sources.
|Healthcare rights||The visa holder has the right to access free healthcare in Italy.|
|Institution where you make the application for the investor visa||
Ministry of Enterprises and of Made in Italy (Ministero delle Imprese e del Made in Italy).
|Timeframe to submit additional papers required by the institution||
After you submit the application through which you can obtain citizenship by investment in Italy (once permanently relocated here), the Italian authorities will review it and, if additional documents are required, you have 30 days to provide them.
|Legal obligation after arriving in Italy||
In maximum 8 days after arriving here, the visa holder has to apply for the issuance of the residence card.
|Institution in charge with the issuance of the residence card||
The document is obtained from the Immigration Office (Ufficio Immigrazione) operating at the Police Headquarters located where the foreigner lives.
|Cost for the issuance of the Italian passport||EUR 112 (this fee is established for the period of 1 July to 30 September 2023).|
Below, our immigration lawyers in Italy explain the requirements for applying for a residence permit in Italy. You can also rely on our team to find out information on the documents you must prepare if you want to obtain a visa that will allow you to invest in this country. In the case you want to permanently settle in Italy and become an Italian citizen, we can provide legal advice on citizenship by naturalization.
Table of Contents
The Golden Visa Program in Italy in 2023
The main program under which foreign citizens can obtain a permanent residence permit in Italy while investing in the local economy is the Investor Visa Scheme. This program is also sometimes referred to as the Golden Visa in Italy and other similar names that usually refer to immigration by investment.
Apart from being dedicated to non-EU citizens, the Investor Visa Program targets high net worth individuals who can make a significant contribution to the Italian economy and community. This is why those interested in immigrating to Italy through the golden visa for Italy need to make specific investments.
Our immigration lawyers in Italy can offer more information on the Investor Visa Scheme. We are experienced in the procedures for golden visa in Italy and can also help foreign businesspersons to apply for entrepreneur visas in Italy.
The golden visa is one of the best routes to Italian citizenship.
The main ways of obtaining Italian residency by investing in the local economy
There are various ways through which foreign citizens can obtain the golden visa for Italy. The Italian immigration policies provide for advantageous conditions for all non-EU citizens who want to relocate here, as EU citizens have simpler requirements to comply with. To balance these simple requirements applicable to EU citizens with the stricter ones imposed on non-EU citizens, the authorities have created these so-called residence schemes for those looking to immigrate to Italy.
The main routes for obtaining a residence permit by investment in Italy are the Investor Visa Program (golden visa for Italy) and the StartUp Program which is further divided into the Italia StartUp Visa and the Italia StartUp Hub. Apart from these, there are cheaper options for those who can immigrate to Italy based on the entrepreneur visa and the self-employment residence permit.
Each type of visa and program has its own advantages and provides various benefits. Our immigration lawyers in Italy also remind you about the elective residence permit available for those who want to retire to Italy.
You can obtain detailed information as well as expat support if you want to move to Italy based on one of the residence schemes mentioned above from our immigration lawyers who are specialized in the procedures forgolden visa for Italy.
Conditions for obtaining Italian residence permit by investment in 2023
Those who want to immigrate to Italy by making an investment in the economy need to comply with the following requirements:
- they must be at least 18 years old at the time they start the application procedure;
- they must have clean criminal records and be in a good state of health which must be documented;
- they must invest at least half a million euros in a start-up company which activates in an innovative field or;
- invest at least one million euros in an Italian company which meets certain criteria imposed by the government or;
- invest at least one million euros in a project which has a positive effect on the Italian economy or;
- invest at least 2 million euros by purchasing bonds approved and issued by the Italian government.
As seen above, the minimum amount of money under for which the golden visa for Italy can be obtained is half a million euros and the funds must be backed by evidence that they were obtained legally.
You can read about the advantages of the golden visa for Italy in the scheme below:
For complete information on the requirements to comply with when applying for Italian residence permit by investment, we invite you to discuss with our lawyers. They can offer you the required information about golden visa for Italy.
Documents required for obtaining the golden visa for Italy in 2023
The procedure for obtaining residence permit by investment in Italy/ golden visa for Italy can be quite extended unless all the documents are prepared in accordance with the requirements imposed by the authorities. In this sense, a foreign citizen seeking to obtain a second passport by investment in Italy needs to obtain a no impediment certificate (nulla osta) before starting the procedure. This document needs to be obtained 6 months prior to entering Italy (this is also the duration for the investor visa to be issued).
The applicant must also have a valid passport, must file information about the funds destined for the investment (a bank statement) and proof of how the money was obtained. The health certificate will also need to be filed along with the other documents. Foreign citizens bringing family members to Italy under the golden visa for Italy must also file information about them.
You can obtain support for immigrating to Italy from our lawyers. If you want to get citizenship by investment for Dominica or other countries, we can put you in touch with our local partners.
The StartUp Visa Scheme in Italy
The StartUp Visa Program in Italy is one of the most innovative residence by investment schemes in Europe, as the authorities here wanted to provide for various options for non-EU citizens seeking to immigrate to Italy by investment.
As mentioned earlier, this scheme is made of two programs, the StartUp Visa and the StartUp Hub. Even if they provide for similar immigration solutions, there are also a few differences between them. The StartUp Visa is based on the Italian StartUp Act entered into effect in 2012. The scheme allows non-EU citizens to obtain the golden visa for Italy by setting up a company in this country.
The following conditions must be complied with in order to accede to this program:
- the innovative startup must be a newly incorporated company (no older than 5 years) operating in a technological sector;
- the company must be a limited company which cannot be listed on the stock exchange;
- it must have its headquarters in Italy or any other EU/EEA country, but in the latter situation it must have a branch in Italy;
- the annual turnover of the company is below 5 million euros;
- it will not distribute profits, nor had it distributed in the past in the case of older companies.
It is important to note that the company cannot be the result of a merger, acquisition or takeover, it must have as a main object of activity the development, production and marketing of innovative goods or services.
Other requirements to meet by those seeking to obtain a residence permit by investment in Italy through this scheme are:
- at least 15% of the annual costs or turnover (whichever has the greater value) must be directed to research and development (R&D) activities;
- at least 1/3 of the employees must be Ph.D. students or Ph.D. researchers or at least 2/3 of the employees have a Master degree;
- the company has a registered patent or software which falls under the intellectual property requirements.
The application for the StartUp Visa Program in Italy can be submitted online and our immigration lawyers can assist with the procedure. The StartUp visa comes with a residence permit in Italy.
The StartUp Hub Scheme in Italy
By comparison, the StartUp Hub provides for the same criteria for the company, however, it addresses non-EU citizens holding an Italian residence permit. In order to be eligible for this program, the applicant must have at least 50,000 euros to inject in the company.
The advantage of this scheme is that it addresses the following categories of residence permit holders in Italy:
- residence permits for students;
- EU residence permits;
- scientific and research visas;
- dependent employment permits;
- family reunion residence permits;
- residence visas for investors.
Both the StartUp Visa and the StartUp Hub programs have similar advantages, among which we remind that the entire procedure of submitting the documentation is completed online and all authorities involved in the program are centralized. Moreover, the procedure and documents submission can be completed in English and the Certificate of No Impediment for the applicant is issued in 30 days.
With respect to the documents that need to be filed when applying for a residence permit by investment in Italy under this program, they can be listed by our immigration lawyers who can also help applicants in preparing them.
Those who want to invest in Italy are invited to watch a short presentation on the issuance of the residence permit:
Why apply for citizenship in Italy?
Italy is the 3rd most powerful European country when it comes to obtaining a second citizenship, according to a report of Henley visa index in 2018. Italy is also unique in Europe because:
- it has the only residence through investment program which provides for flat tax rates and 0% rate for those retiring here;
- Italy is the 3rd largest economy at the level of the European Union, with a GDP of 2 trillion dollars (according to the MIF’s report of 2016);
- it is the 2nd largest manufacturing economy in the Eurozone, after Germany;
- Italy has more than 20 universities in the top 500 academic institutions of the world;
- for businesspersons, Italy offers access to a market of more than 500 million consumers.
You can rely on us if you plan to move here and want to apply for Italian citizenship.
The investor visa requirements in Italy in 2023
As mentioned above, the Italian government has recently introduced a specific discipline within its Immigration Law, the so-called “Investor Visa”. The recently enabled investor visa/ golden visa for Italy allows foreign citizens to enter and live in Italy, based on several entry quotas which are updated on an annual basis by the government, to foreigners who wish to:
- invest at least € 2 million in securities issued by the Italian government, to be held for at least 2 years;
- invest at least € 1 million in equity instruments of a company incorporated and operating in Italy, to be held for at least 2 years;
- invest at least € 500.000 into an existing Italian innovative start-up company; make a philanthropic donation of at least € 1 million to support a public interest project, in the fields of immigration management, education, culture, recovery of cultural and landscape assets, scientific research.
Our company registration consultants in Italy can offer more information on the Investor Visa program/ golden visa for Italy.
Although, due to the Covid-19 pandemic, numerous European countries have imposed new rules for those who were foreigners, Italy included, with regards to the Golden Visa program for 2023, there aren’t any new provisions that foreign investors should be aware of. The same investment thresholds have been maintained as it was in the past, and the same requirements have to be met by investors; for advice on how to obtain a Golden Visa in Italy in 2023, we invite you to address to our team of immigration lawyers.
In 2023, you have to follow the same rules for obtaining residency through the golden visa. As mentioned above, you first have to maintain the investment for a period of 2 years, which is also the validity of the 1st residence permit issued for this visa type.
Investors have the possibility to renew their permit as long as they maintain the requirements of their investment/business, stipulated under the visa they were issued with. The renewal of the document is made for a period of 3 years.
Upon the expiration of the document, it is necessary to start the application for the renewal with minimum 60 days before the expiration date. Our immigration lawyers can present more information on how to apply in 2023.
Italy’s resident non-domiciled package
The Italian government has recently implemented a tax package and fast-track VISA procedure to attract wealthy individuals that intend to relocate to Italy.
This package includes a € 100,000 flat tax on all foreign income for individuals who become Italian residents after at least a 9-year period of residence outside of Italy. This flat tax is paid on an annual basis for a maximum of 15 years. The tax package is integrated by a fast-track visa procedure for investors and their relatives.
According to the Res Non-Dom Regime, eligible taxpayers can choose which country or countries income to tax with the substitutive flat tax (the so-called “cherry picking” principle). Any income sourced in the “non-chosen countries” (if any) is excluded from the Res Non-Dom Regime (as well as the Italian sourced income) and, therefore, is subject to ordinary Italian taxation and will benefit from tax credit on taxes paid abroad (under ordinary limitations) and from relevant tax treaty protection (if any).
Visa exemptions in Italy
According to the immigration legislation available in Italy, certain nationalities are exempted from obtaining a visa when relocating to this country. As described above, EU citizens benefit from this exemption, but the rule is also applicable for the citizens of the following countries:
• San Marino;
• Vatican City.
The regulation is applicable for a period of 90 days, as further on it will be required to apply for permanent residency in Italy. Our team of lawyers in Italy can provide legal advice on the documents that should be submitted when applying for permanent residency.
Please mind that Italy has a large number of applicants for this visa program – this is also given by the fact that since 2021, investors have the right to apply for it if they invest EUR 250,000 in a startup.
If you are thinking about immigrating to Italy for investment purposes, please feel free to contact our immigration lawyers for personalized assistance.
Our lawyers can represent you in other legal matters concerning citizenship in Italy as well. We can help foreign clients in understanding the process involved in obtaining citizenship by marriage with an Italian citizen.
This right is granted in accordance with the Law no. 91 of 1992, Articles 5-8, which allows foreigners to apply after 2 years of marriage (or only 1, if the couple has children with an age below 18 years old).
Please mind that the rules on citizenship are different based on the residency of the couple. If a couple will move to Italy, then the foreign partner can apply after 2 years of marriage, but if the couple is located somewhere outside the country, then the waiting time is of 3 years.
For the latter, where minor children are involved, the waiting time is reduced to only 18 months.
For persons who will arrive here under the Golden Visa in Italy, the right to apply for citizenship is granted after 10 years of stay in the country.
In this period of time, the foreign investor must become a permanent resident and comply with numerous other basic requirements that are prescribed under the visa he/she applied for initially. Under this program, the investor can relocate here with his/her family.