If you want to retire in Sicily, you will need to follow the standard immigration rulesthat are prescribed at a national level, as Sicily does not have a different immigration policy than the rest of the country. In this particular scenario, you will have to apply for the necessary immigration documents required for persons who arrive here simply for living in Italy, and not working in this country.
Thus, for immigration related to retirement, you will need to conduct the necessary legal steps imposed for the Italian Elective Residency Program. In this article, our immigration lawyers in Italywill present the legal requirements imposed to foreigners, but you can also discover information about the income requirements to retire to Italy, as you will also have to make the proof of having sufficient financial funds.
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What are the legal requirements for obtaining the Italian Elective Residency Visa?
You can retire in Sicily or anywhere else in the country if you will be issued with the Italian Elective Residency Visa. Please mind that you do not have to be only a senior to apply for this immigration document – it can also be obtained by young persons who simply want to live here.
The main aspect of this type of visa is that, once you obtain it, you are not entitled to develop work related activities on the Italian territory and this is why the document is mostly associated with retirement. Still, the elective visa does not prohibit its holder to have a passive income in this country. In the list below, you can discover few of the aspects that you have to fulfill in order to be eligible for the program:
- have sufficient financial funds for living in Italy, that will cover your financial needs, as well as of other dependents, if this is the case;
- provide evidence on the place where you will live in Sicily (rental agreement, property purchase contract or other documents issued in your name for the respective location);
- sign a health insurance policy that is recognized in Italy, which has a validity of at least one year;
- have a valid passport (if you are a citizen of a country outside the European Union), respecting the regulations of the Ministry of Foreign Affairs and International Cooperation;
- provide documents concerning your civil status and police clearance from the Police Department in your home country.
What are the income requirements to retire in Italy?
As we mentioned above, in order to be able to relocate here, you will have to meet certain income requirements to retire in Italy. This is a necessary part of the immigration process, and the Italian authorities will have to be sure that you have sufficient financial funds, since you will not be allowed to generate a steady income from work activities. Thus, you need to comply with certain financial requirements, which can vary based on your particular situation. The following are applicable:
- as a general rule, a minimum threshold of EUR 31,000 per year is applicable;
- as of 20 September 2020, you must dispose of at least EUR 31,160 per year, if you are a single applicant;
- in the case in which you arrive in Italy with a spouse, the threshold for the income requirements to retire in Italy is of EUR 38,000 per year (which can be obtained from passive income);
- please mind that if you will retire to Sicily and you will purchase an apartment, the costs per square meter can vary between EUR 1,280 and EUR 3,050, depending on the region of the city and the quality of the apartment;
- if you will rent a property in the vicinity of Sicily, you can pay EUR 270 per month, while properties located in the center of the city can be rented with EUR 390 per month (prices for one bedroom apartments).
Important things to know about retiring to Sicily
When you will relocate to Italy, under the elective residence visa you will express the intention to live in this country for a long period of time. The visa is issued for a period of one year, in which you must make the proof of being able to handle you financial resources as needed.
The passive financial resources one can use when retiring to Sicily can refer to pensions, annuities, bonds, personal financial assets gained throughout the years and other similar passive income. At the end of the validity date, the visa can be renewed. The person is entitled to becoming a permanent resident, provided that he or she has lived here of a period of 5 years.
If you need legal representation in the process of becoming a permanent resident, or if you want advice on how to apply for retirement in this country, please contact our immigration lawyers in Italy. You can receive in-depth advice an on all the steps, the duration of the immigration process and assistance on any other immigration matter.
Our immigration team can provide full legal representation if you want to move to Italy in the region of Sicily for the purpose of retiring here. Of course, you can rely on our specialized attorney if you want to purchase a property.
We can present you what are the main procedures for the acquisition of a property, the taxes involved and any other matters you should take into consideration.
Our lawyers can provide a wide range of legal services regarding immigration and can offer the necessary support to those who want to arrive in Sicily for investment purposes.
One of the ways to relocate in this country for investment/business is through the Golden Visa in Italy, an immigration program that can offer access to permanent residency to investors who maintain the conditions imposed by their visa.