ARTICLE
26 December 2024

Italian Golden Visa: Investment Immigration Program

BI
Boccadutri International Law Firm

Contributor

Boccadutri is an Italian law firm that specialises in assisting international clients with legal matters in Italy. We are able to serve our clients in their native language and also have offices located across the globe that allow clients to meet our lawyers without having to travel to Italy.Our international offices are located in Palermo, Milan, Rome, London, Barcelona, New York, Bucharest, Krakow, Rosario, Istanbul, Sydney and Rio de Janeiro. We are also well placed in Italy to attend court hearings and other local matters with our offices in Milan (North) and Palermo (South).Boccadutri specialises in a wide range of Italian matters such as personal injury, real estate, civil law, forex, and administrative and criminal litigation matters. All our expert lawyers are fully qualified and specialists in their respective fields.
The Golden Visa, also known as the Investor Visa for Italy, is designed for non-EU citizens who make significant investments in the Italian economy or contribute philanthropically to key sectors such as culture and research.
Italy Immigration

The Golden Visa, also known as the Investor Visa for Italy, is designed for non-EU citizens who make significant investments in the Italian economy or contribute philanthropically to key sectors such as culture and research.

In addition to its visa program for highly skilled workers, Italy now offersinternational investors a dedicated investor visa program.

This specialized visa, available all year-round, enables foreign investors to bring their capital into the country.

Introduced to attract international capital and entrepreneurial talent, the program presents an exceptional opportunity for individuals seeking to establish themselves in Italy while contributing to the country's economic growth.

Overview of the Italian Investor Visa Program

The Investor Visa program was established by the 2017 Budget Law (Law No. 232 of December 11, 2016) to facilitate long-term residency in Italy for qualified investors.

The visa grants holders the right to reside in Italy for an initial period of two years, with the option to extend for an additional three years.

Visa holders can also travel within the Schengen Area for up to 90 days within any 180-day period.

The program is regulated under Article 26-bis ("Entry and Residence for Investors") of the Consolidated Act on Immigration (TUI, Legislative Decree 286/1998).

This special permit enables non-EU citizens to obtain Italian residency by making qualifying investments in the country.

Through this streamlined immigration pathway, investors can establish themselves in Italy and gain access to European market opportunities.

Investment Options for the Golden Visa

The Golden Visa program offers four qualifying investment pathways:

  1. Italian Government Bonds
    • €2 million minimum investment
    • year minimum holding period
  2. Italian Corporations
    • €1 million minimum
    • Company must be actively operating in Italy
  3. Innovative Startups
    • €500,000 minimum investment
    • Characteristics: support for Italian innovation
    • Access to high-growth opportunities
  4. Donations in the field of culture or research
    • €1 million minimum contribution
    • Sectors: culture, research, education
      In particular:
      • Cultural and landscape heritage and activities;
      • Education and scientific research;
      • Immigration management initiatives.

How the Golden Visa Process Works

The Italian Golden Visa program features a streamlined application process with three key advantages:

  1. Centralized Processing
    • Single point of contact for applicants despite multiple agency involvement
    • Oversight by the Investor Visa for Italy Committee
    • Committee includes representatives from 7-8 institutions with expertise in immigration, finance, and business
    • Chaired by the Director General for Industrial Policy, Competitiveness and SMEs at the Ministry of Economic Development (MISE)
    • Dedicated Committee Secretariat handles all applicant communications
  2. Digital Application System
    • Fully online process until final visa issuance
    • Applications managed through dedicated platform
    • In-person appearance required only at consular office for visa stamping
  3. Expedited Timeline
    • 30-day processing time from submission of complete documentation

Detailed Application Process

The Investor Visa application involves six key stages.

Stage 1: Initial Documentation

Required documents:

  • Valid passport copy
  • Criminal record clearance certificate
  • Digitally signed investment declaration specifying:
    • Investment amount
    • Intended municipality of residence in Italy
  • Financial Requirements:
    • Bank statements showing transactions for past three months (for cash deposits)
    • Portfolio documentation from credit institutions/investment funds (for financial instruments)
  • Proof of fund availability and transferability to Italy
  • Comprehensive investment plan including detailed investment/donation strategy and written consent from recipient company's legal representative
  • Applicant's CV

Stage 2: Application Submission

Process:

  1. Access the online portal
  2. Complete the application form (available in English or Italian)
  3. Upload required documentation in PDF format
    • All documents must be in English or Italian
    • Include certified translations for documents in other languages
    • Must demonstrate:
      • Proof of fund ownership
      • Fund transferability
      • Legal source of funds

Stage 3: Application Review

  • Investor Visa Committee evaluates documentation
  • Verifies legitimate fund sources
  • Assesses investment plan viability

30-day standard processing time

Stage 4: Clearance Certificate (Nulla Osta)

Clearance Certificate (Italian Nulla Osta) valid for 6 months, required for Visa application.

Extensions granted only in exceptional cases.

Stage 5: Visa Application

Submit application c/o relevant diplomatic-consular office with the required Documents:

  1. Valid passport
  2. Passport photo
  3. Proof of residence in consular district
  4. Nulla Osta certificate with original application documents
  5. Proof of accommodation in Italy
    • Hotel bookings acceptable
    • Third-party accommodation letters accepted
  6. Proof of minimum income (approximately €8,500)
    • Required for healthcare cost exemption

Additional documents may be required by consulate.

Processing Time: 2-3 weeks.

Stage 6: Entry and Residence Permit

Timeline Requirements:

  1. Enter Italy within 2-year Visa validity
  2. Apply for residence permit within 8 days at Questura (Police HQ)
    • Must appear in person
    • Postal applications not accepted
    • Required Documents for Residence Permit:
      • Payment receipts:
      • €30.46 for electronic document
      • €50.00 for permit fee
      • Complete passport copy
      • Two passport photos
      • €16.00 revenue stamp
      • Proof of accommodation
  3. Complete investment within 3 months of entry
  4. Register residence
    • Notify entry date within 2 years of visa issuance

Note: Failure to communicate entry date within 2 years voids the visa process.

Eligibility Requirements for Golden Visa

Who Can Apply for a Golden Visa:

  • Non-EU/Non-Schengen citizens who are:
  1. Individuals over 18 years old
  2. Foreign legal entities from outside EU/Schengen area
    • Must have authorized representative per company statute

Key Benefits

To summarise, here are the benefits of the Golden Visa:

  • Schengen Area Travel Rights
  • Family Immigration Options
  • Flexible Residency Requirements
  • Renewable up to 5 Years
  • Pathway to Permanent Residency

The Italian Investor Visa Program offers a streamlined pathway to Italian residency for qualified investors.

The Italian Golden Visa can serve as a pathway to Italian citizenship (see "How to become an Italian Citizen"), making it particularly appealing to investors planning a long-term presence in Italy.

The Italian passport offers significant advantages, and importantly, Italy's dual citizenship policy allows investors to maintain their current nationality while acquiring Italian citizenship.

This flexibility is especially valuable for international investors seeking enhanced global mobility.

The Golden Visa program complements Italy's existing incentives for foreign residents, such as the special tax regime offering a 7% flat tax rate to foreign retirees who choose to settle in selected small towns in southern Italy.

Our multilingual immigration team provides comprehensive support:

  • Investment strategy development
  • Documentation preparation and verification
  • Administrative process management
  • Relocation assistance

Contact us to schedule a consultation and begin your investment journey.

Maintaining Visa Status

Investment Requirements:

  • Must maintain original investment throughout permit validity
  • New investments do not replace the original commitment
  • Changing investments requires new visa application

Residence Requirements:

  • Must reside in Italy for at least half of permit validity period
  • Excessive absence may result in permit revocation

For detailed guidance, contact our Immigration Law Department.

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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