Since 2017 Italy has offered a very favourable tax regime to attract new high net worth residents, alongside the more recent introduction of a fast-paced procedure to obtain a VISA and long-term residence permit for non-EU nationals wishing to relocate in Italy.
The Investor Visa for Italy programme, as defined by art. 26-bis of the Consolidated Act on Immigration, has several advantages:
- the Investor Visa holder will obtain a two-year residence permit, renewable for an additional period of three years;
- the Investor Visa program has been tailor-made for individuals with active professional and social lives, therefore there is no limitation connected to the applicants' work life, willingness to invest or participation in charities, foundations, etc.;
- a dedicated interinstitutional committee (the Investor Visa Committee), set up by the Ministry of Economic Development, is in charge of coordinating operations, giving the applicant has a single contact point;
- the entire procedure is carried out online, through a dedicated IT platform, used for all communications between the Visa applicant and the administration. As a result, the whole procedure is monitored remotely and there is no need for the applicant to be physically present at any step of the filing procedures with the Investor Visa Committee;
- the applicant is notified of the outcome of his Visa application within 30 days of sending the complete documentation. As a result, the time required for the entire migration process is significantly reduced;
- the applicant can select one of the following investment
1) € 2 m investment in Government Bonds
2) € 1m investment in limited companies
or €500K in innovative start-ups;
3) € 1 m donation to
i. natural or cultural heritage preservation
ii. research and education
iii. immigration management
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.