Citizenship by Investment in Italy vs the Golden Visa

Foreigners can immigrate to Italy for personal or business purposes. The good news is that in recent years, Italy has entered the category of countries which have enabled programs for obtaining a residence permit by investing in this country, also known as golden visa for Italy.

Conditions for obtaining Italian residence permit by investment in 2026

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 EUR 250,000 in a start-up company which activates in an innovative field;
invest at least EUR 500,000 in an Italian company which meets certain criteria imposed by the government (investments in bonds or shares);
invest at least EUR 1 million in a project which has a positive effect on the Italian economy (philanthropic project);
invest at least EUR 2 million by purchasing bonds approved and issued by the Italian government.

As seen above, the minimum amount of money for which the golden visa for Italy can be obtained is EUR 250,000 and the funds must be backed by evidence that they were obtained legally.

The residence permit by investment program in Italy (Investor Visa for Italy) was introduced in 2017 and amended in 2020, when Decree-Law 34/2020 halved the thresholds (EUR 500,000 for companies, EUR 250,000 for innovative start-ups). Foreign citizens from non-EU countries interested in immigration by investment in Italy receive a 2-year residence permit (renewable for 3 years) by investing here, not permanent residency or citizenship.

Italy does not have a citizenship by investment program, this being in line with the latest immigration policies available in other European states. Investors who want to become Italian citizens will have to abide by the main options for citizenship, which, in this case will be citizenship by naturalization (granted based on the years of residency).

Quick Facts
Nationalities accepted (EU/Non-EU)	Non-EU nationals only (EU citizens need no visa); suspended for Russian and Belarusian nationals
Business investment option	– Golden Visa/ Investor Visa program, – the Startup Program, etc.
Real estate investment option	Real estate purchases do not qualify for the Investor Visa (a property in Italy can only support other routes, e.g. as accommodation for the elective residence visa)
Other investment options (if available)	The Startup Hub program
Residence or direct citizenship option	Residence only: there is no direct citizenship option; citizenship by naturalization can be requested after 10 years of legal residence (a permanent residence permit is not required)
Direct immigration with family members	Yes
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)	185 (Henley Passport Index, January 2026)
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	Italy has no citizenship by investment, but 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	2 years
Residence permit renewal	The residence permit can be renewed upon expiry for 3 years. After that, you can become a permanent resident and later, after 10 years of legal residence, you can apply for citizenship by naturalization (Italy has no citizenship by investment).
Possibility of renewal of the investor visa (yes/no)	Yes
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 financially dependent on the applicant.
Special tax regime for visa holders	Optional flat tax on foreign income for new tax residents (art. 24-bis TUIR, not tied to the visa): EUR 300,000 per year for those moving to Italy from 2026 (EUR 200,000 for moves from 11 August 2024 to 2025; EUR 100,000 before), plus EUR 50,000 per included family member.
Healthcare rights	Investor-permit holders may register voluntarily with the national health service (SSN) by paying an annual contribution (minimum EUR 2,000 since 2024) or rely on private insurance.
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 investor visa application, 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 116 (EUR 42.50 booklet fee plus EUR 73.50 passport stamp duty)

Below, ourimmigration 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.

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.

The Golden Visa Program in Italy in 2026

The main program under which foreign citizens can obtain a residence permit in Italy (2 years, renewable for 3) 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 andcan also help foreign businesspersons to apply for entrepreneur visas in Italy.

Ineligible non-EU nationals

Please mind that although the visa is addressed to non-EU nationals and that, in general, there aren’t any constraints when it comes to the nationality of the third-country foreigner, we mention that there are 2 exceptions from this rule, which refer to Belarusian and Russian passport holders.

Thus, under the Order of the Chairman of the Committee dated 14 July 2023, the residency by investment program in Italy has been suspended for these 2 nationals.

It must also be observed that non-EU nationals who have dual nationality, one of which is Belarusian or Russian, are also not allowed to participate in this program. The decisions have been taken in accordance with the EU Recommendation C (2022) 2028. Therefore, immigration to Italy for investment purposes for these 2 nationals is currently not possible.

You can read about the advantages of the golden visa for Italy in the scheme below:

The Advantages of obtaining citizenship in Italy

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.

Is it possible to make changes to the initial investments of the business visa in Italy?

No, investors who will move to Italy under the investor visa can’t make changes to their initial investment plans. This type of business visa in Italy doesn’t allow any modifications for the entirety of the visa validity (of 2 years). Provided that the visa holders will introduce changes to their initially agreed upon investment, their visa can be revoked.

We also mention that the investment made by the foreigner can’t be used for the purpose of obtaining a loan or any other type of bank financing.

Documents required for obtaining the golden visa for Italy in 2026

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 an Italian investor visa needs to obtain a no impediment certificate (nulla osta) before starting the procedure. This document must be obtained before entering Italy (it is valid for 6 months, within which the investor visa must be requested).

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.

Family members accepted under the business visa in Italy

For those who apply for a business visa in Italy under the investor program, the relocation with close family members is possible. There are 4 categories of close family members accepted under this program, as presented in the list below:

the spouse (the parties can’t be legally separated);
minor children (including children born out of wedlock);
adult dependent children (aged over 18) – the applicant must make the proof that the children have various health issues that make the respective children unable to take care of themselves;
dependent parents (they can apply as long as they don’t have any other children in the country of origin or, if they have children in the respective country, the children are unable to take care of the parents).

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 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 business visa in 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 have been incorporated no more than 3 years earlier (up to 5 years if additional requirements are met, under Law 193/2024) and qualify as an SME 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 (the company must meet at least one of the following) 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 ourimmigration 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 has one of the most powerful passports in the world when it comes to obtaining a second citizenship, according to the Henley Passport Index. Italy is also unique in Europe because:

it has a residence program through which an individual can benefit from a fixed annual substitute tax on foreign income (EUR 300,000 per year for those moving from 2026) and a 7% flat tax for foreign pensioners moving to small towns in the South;
Italy is the 3^rd largest economy at the level of the European Union, with a GDP of about USD 2.4 trillion (in 2024, Italy was the 3rd most developed economy in the EU);
it is the 2^nd 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 the EU single market of about 450 million consumers.

You can rely on us if you plan to move here and want to apply for Italian citizenship.

Other citizenship matters

Individuals who want to apply for citizenship should know that since 1 January 2025 there are new citizenship fees, but only for applicants interested in citizenship by descent. For them, the citizenship fee has been increased from the standard fee of EUR 300 to EUR 600 for applications made through Italian consular missions.

Another novelty concerning citizenship by descent is that the legislation has been modified by introducing restrictive measures concerning the individuals who can qualify for this type of citizenship. Investors who have Italian ancestors can also observe the rules for citizenship by descent. Please mind that under the new law, only those who, at the moment of their birth, had a parent or a grandparent who holds or held exclusively Italian citizenship (or an Italian parent who had lived in Italy for two consecutive years before their birth) can now apply for citizenship by descent.

Those who apply in 2026 for this type of citizenship must abide by the new regulations prescribed by the Law 74/2025. We invite you to address us for assistance on any citizenship matter – we offer full services to investors and any other category of foreigners.

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, therefore we want to restate that Italy does not provide a direct citizenship route through investments, as it can be the case of other states.

It is also important to know that in the last few years, more and more European countries which had a direct route through citizenship by investment have renounced such programs, limiting them to the right of permanent residency, which can still be further upgraded to citizenship, but through the standard naturalization process.

In this period of time, the foreign investor must reside legally in Italy and comply with numerous other basic requirements that are prescribed under the visa he/she applied for initially. If you are thinking about immigrating to Italy for investment purposes, please feel free to contact our immigration lawyers for personalized assistance.