Property purchase: Chinese attracted by investments in Italian
In the last few years Chinese people have been attracted by
investments in Italian houses. There are several reasons behind it:
obtaining a Schengen Visa is one of them.
Italy is one of the most beautiful Countries where foreigners
would like to live or come for long holidays. However if you are
not European you might have several obstacles.
In these last few years Italy has seen a high number of
Chinese who have invested a consistent amount of
money in Italian houses purchase and have obtained a residency
permit. How does this work?
If you are a Chinese citizen and you have the interest to look
for a property in Italy you can obtain a Visa which allow you to
come to the Country just for checking a few properties with the
interest to buy one. In this case you have to ask for a so called
IVAC so that you will be allowed to come for touristic reasons. The
application needs to include a letter in which you clearly explain
the reason of your journey to Italy and an invitation letter from a
real estate agency to come and check for some properties.
The procedure above will allow you to obtain 90 days Visa which
is valid for 6 months. These applications are considered as
Once you have found your property and have purchased one, you
might be entitled to obtain a residency permit. It will be possible
for you to obtain a Schengen touristic Visa, the duration of this
permit is 5 years but in this case you need to show that you have
actually a good title and that you have already received a visa in
a Shengen Country.
Thanks to the above rules, in the last few years Italy has been
a Country which has been hosting many many Chinese citizens. In
fact among all the application just a very small percentage has
been refused. Consequently investments in Italian houses have been
The Italian politic to attract investments (so called
immigration by investment) has been working well and many
other people are ready to join our Country for a long period of 5
years in which they can spend in the Country a maximum of 90 days
up until 6 months during the year.
What are the requirements and the consequences of this?
Italy is able to attract investors
(and money) in the Country
Chinese citizens and other non- EU
citizens who have obtained a visa in a Shengen Country can apply
with good possibility to obtain a 5 years visa
The applicants are people who do not
have any interest in immigrating (and working) in the Country, but
just the interest to invest or come as tourists
Foreigners will be allowed to
purchase a property in Italy which will allows them to make a good
investment for a low amount.
The above meets both needs: Italy attracts investments and
foreigners can invest and obtain a visa to enjoy the Country for a
quite long time during the year with the possibility to obtain a
residency permit after 5 years.
You are a non EU citizen looking for
a property in Italy
You need to apply for obtaining the
permission to visit our Country and look for a property
You wish to obtain a five years
You need assistance with the property
purchase (due diligence, notary reference, survey and any advice in
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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