Harvey Law Group (HLG) is proud to offer the Italy Golden Visa program, officially known as the Investor Visa for Italy.
The Italy Golden Visa program offers high-net-worth individuals a viable alternative to the Portuguese and Greek Golden Visas, providing a pathway to European residency (and eventually citizenship) for non-EU investors.
The program grants non-EU nationals who make a qualifying investment in Italy an initial residence permit valid for two-years which can then be renewed for three-year periods.
The Italy Golden Visa program offers four investment options designed to provide options for different investor profiles and interests. From low-risk government bonds to more ambitious investment in innovative start-ups, there are several options to tailor the investment opportunity to match different investor's profiles. The qualifying investment categories have been purposely designed to attract foreign investment while also supporting Italy's economic and social development.
To qualify for the program, applicants must make one of the following qualifying investment options:
- Invest a minimum of EUR 250,000 in a qualifying innovative startup;
- Invest a minimum of EUR 500,000 in an Italian limited company (listed or unlisted);
- Make a Philanthropic Donation of at least EUR 1,000,000 to a philanthropic initiative benefiting culture, education, immigration management, scientific research, or the preservation of cultural and natural heritage; or
- Invest a minimum of EUR 2,000,000 in Italian Government Bonds.
Successful applicants will be granted the right to live, work and study in Italy. Additional benefits include the right to travel visa-free within the Schengen Area for 90 days within any 180 days rolling period, as well as access to Italy's healthcare and education systems.
Although there is no physical residency requirement at all, those who reside in Italy for over 183 days a year may benefit from one of Italy's advantageous tax regimes such as the EUR 200,000 annual flat tax regime; the Southern/Central Italy 7% tax rate on foreign incomes; or the impatriati tax regime which applies ordinary tax after a tax rebate of around 50% to 60% on taxable income.
The Italian Golden Visa program permits main applicants to bring their dependents to Italy. Eligible family members include spouse and children (under 18). Adult children and parents who are dependent due to health conditions may also be eligible. They will all receive the same rights as the main applicant.
There is no language, education, or physical residency requirements for the program.
The Italy Golden Visa program is designed to be a clear and efficient process for applicants. The whole process is expected to take 3 to 6 months. The first step is to submit an application for Nulla Osta (Certificate of No Impediment), which usually takes 30 days to be granted. Once the Nulla Osta is granted, applicants have up to 6 months to apply for the investor visa at their nearest Italian Embassy or Consulate. The Embassy or Consulate will issue the applicant with an investor visa valid for 2 years. This allows the investor to enter the country at any time within the two-year validity period, and requires him/her to apply for an investor residence permit (Permesso di Soggiorno) within eight days of arrival. The residence permit will be issued for 2 years from the date of entry in Italy, and the qualifying investment must be made within three months from entering Italy under the Italy Golden Visa. If the holder of the Italy Golden Visa has not entered Italy and completed the required process within two years of the visa being issued, the entire procedure will be considered void.
This Italy Golden Visa program offers a pathway to permanent residency in Italy after five years. The program also offers a pathway to citizenship after ten years subject to other requirements such as B1 Italian language level.
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.
