Those who plan to retire in Italy have the possibility of doing that under specific conditions imposed by the government, among which applying for an elective residence visa. If you need assistance in immigrating to Italy, our specialistsare at your disposal with detailed information and representation for your retiring in Italy.
| Quick Facts | |
|---|---|
| How can foreigners retire to Italy? | If they apply for visas suitable for retirement purposes (these visas do not allow the right to obtain an active income in Italy) |
Types of visas suitable for retirement | The Italian elective residence visa (does not allow to work in Italy) and the golden visa (it is used for investors who want to start a business here, but it can be used as a way to retire here as well if the conditions of the visa are met) |
Income thresholds imposed (yes/no) | Yes |
| Minimum financial requirements | – minimum annual income of EUR 31,000 for a single applicant (from sources such as pensions,savings and other types of passive income); – EUR 38,000 for an applicant and his or her spouse; – an additional 20% of the sum for each dependent child |
| Types of income accepted | A passive income, such as: shares, pensions, rent and others, but not income obtained from employment |
| Who can apply for the retirement visa? | Foreigners outside the European Union (EU) are entitled to apply for this visa as long as they do not plan to work in Italy. |
| Where can the visa application be initiated? | The visa application must be initiated from outside Italy. |
| Interview formalities (yes/no) | Yes |
| Documents necessary for the visa application | The documentation for retiring to Italy is extensive and it includes: – your valid passport;proof of having the minimum required income; – information on the residency arrangements in Italy; – a valid health insurance recognized in Italy; – the completed visa application form; – the proof of paying the visa application fee; – additional documents varying based on the case (marriage certificates, birth certificates, etc.). |
| Validity of the visa | 1 year |
| Renewal possible (yes/no) | Yes |
| Legal obligations upon arrival in Italy | Within 8 days since the arrival, foreigners are asked to register their address at the closest police station in their region. |
| Right to permanent residence through retirement visa | If you want to retire to Italy on a permanent basis, you need to renew your elective residence visa (it can be renewed many times) for a period of up to 5 years, when permanent residency formalities can be initiated. |
| Minimum age for suitable candidates | 18 years old |
| Duration of the visa processing | Up to 90 days |
Table of Contents
What is the most suitable visa for retirement in Italy?
Persons who want to retire in Italy are required to apply for a visa and, in this case, they will need the elective residence visa.
What is the law regulating the elective residence visa in Italy?
This visa type is regulated under the following rules of law:
- The Presidential Decree 394/1999;
- The Legislative Decree 286/1998, Article 4.
What categories of foreigners need to apply for a retirement visa?
It should also be noted that this type of visa addresses non-EU residents, as EU citizens can freelyrelocate to Italyby registering with the local police station in the city they live in.
What are the characteristics of the elective residence visa in Italy?
In the list below, our immigration lawyer in Italy presents some of the main traits of this visa type:
- the elective residence visa was created for a category of persons that is not allowed to work in Italy – however, this visa (or permit) is available not only for people who have reached the retirement age, therefore, it is quite versatile;
- the elective residence visa is issued as a long-term residence permit and can be requested by those who want to relocate to this country permanently;
- with respect to the funds that must be evidenced by the applicants, these can have various sources, among which the accepted ones by theItalian Ministry of Interior are pensions, savings and investments.
Below, we have prepared a short presentation on how foreigners can retire to Italy:
What documents are needed when applying for an Italian elective residence visa?
In order to be able to retire in Italy, as a foreigner, you will be required to prepare a set of documents. The candidate to retire in Italy must submit the following documents when filing the application:
- the visa application form issued by the Italian Embassy or Consulate and that must be duly completed;
- two passport-size photos that must be recent (no copies or printed photos are accepted);
- the passport must be valid at the time of filing the application (a 3-month validity is required);
- a recent bank statement that shows the applicant has the required amount of money to qualify for the elective residence visa;
- evidence of having a place to stay in Italy is also required (a lease contract will suffice);
- health insurance that must have at least a one-year validity and cover expenses of at least EUR 30,000 per year.
What information should foreigners provide on their visa application?
Those who will move to Italy for the purpose of retirementare asked to present details concerning the following:
- name and surname, including previous names prior to marriage, adoption, divorce, etc.;
- date, place and country of birth;
- nationality at birth and/or current nationality;
- sex;
- marital status;
- national identity number;
- the type of travel document they will use for the application and details on the said document (issuance date/expiry date).
Are there any financial requirements for retirement in Italy?
Yes, foreign citizens who want to retire to Italy must have a minimum annual income of EUR 31,000. For married couples seeking to retire in Italy, the minimum amount necessary is EUR 38,000. Additionally, if they want to immigrate to Italy with their children, the sum will increase by 20% for each child.
What is considered to be an acceptable residence in Italy?
One of the visa requirements is to make proof of having a residential address in Italy. Only long-term rental contracts or proof ofowning property in Italy are accepted as proper proof of residency in the country. Short-term accommodation arrangements, such as hotel or Airbnb bookings are not accepted.
What should my private health insurance cover?
In order to apply for this visa type, your private health insurance must include the following:
- hospitalization in Italy;
- medical expenses for basic or specialized medical services;
- medical emergencies in Italy;
- medical emergencies in the Schengen area.
Can I benefit from the public medical system?
As a holder of a retirement visa, you can continue your private health insurance contract, which must contain the same provisions initially agreed upon, or you can enter the public medical system by paying an annual contribution.
The infographic below presents basic requirements for retiring to Italy:
Is there a minimum or maximum age under which an elective visa can be obtained?
The minimum age for applying for an elective residence visa is 18, however, there is no maximum age limit for this type of visa.
Can I buy more properties if I retire to Italy?
Yes, you can purchase one or more properties if you retire to Italy.
How long does it take to obtain a visa if I want to retire to Italy?
The processing of the elective residence visa can last minimum 3 months and maximum 6 months.
What is the validity of the retirement visa?
This visa has a validity of 1 year. If the visa holders decide to remain here, the permit can be renewed and transformed into permanent residency.
When do I need to go to Italy after my visa has been approved?
You do not have to arrive in Italy immediately after the visa has been approved. From the date of the issuance, foreigners who have been accepted mustgo to Italyin a period of maximum 365 days.
Do I need to complete any immigration formalities after my arrival in Italy?
Yes. Once you havearrived in Italy as a holder of an elective residence visa, you must get in touch with the local police station operating in the region where you have your Italian residential addressand apply for a residence permit. The document grants the right to live here, and it is mandatory to complete this step, as the retirement visa itself does not secure this right.
Do I have a deadline to apply for a residence permit as a holder of a retirement visa?
Yes. The deadline is 8 days since the arrival in the country. This is the standard period of time regulated by law for all visa holders.
If you need more information on how to retire in Italy, do not hesitate to contact us.