A world-renowned cuisine, a wide variety of art, beaches, and the beauty of mountains, Italy is one of the dreamy countries that every globetrotter wants to visit. The Bel Paese is not only travel-friendly but also offers options that can help you live and work there for a long time. Even investment is an option.
That's right, Italy is offering a Golden Visa or the Investor Visa that allows you to stay, work, and study in Italy if you make an investment in the economy. Here's everything you need to know about it.
What Is Italy's Golden Visa?
Officially known as the Investor Visa for Italy, the Italy Golden Visa was introduced in 2017 by the Italian government to promote foreign direct investments. It allows non-EU nationals, including Indians, to get a residence visa if they invest in the country.
The initial validity period for Italy's Golden Visa is two years, which can then be renewed for up to three years.
Why Should You Choose It
If Italy is your dream destination and you have the means, this visa allows you to stay, work, and study in the country with an initial two-year residence permit. It can be renewed for longer periods if you maintain the investment. Plus, you get to travel the entire Schengen Area.
Your family can also obtain residence rights if they meet the eligibility criteria. There is no requirement for full-time residency in Italy, which can be a good option for Indians who wish to continue some business activities back home. This visa also provides access to the healthcare and education systems of Italy.
Overall, the visa combines lifestyle benefits, European mobility, and a streamlined process without strict language or educational requirements, making it an attractive opportunity for global investors planning to live and work in Italy.
Investment Options
You can choose from four different investment types if you are serious about living in Italy. The options include:
- €250,000 (approximately Rs 2.57 crores) investment in an Italian innovative start-up
- €500,000 (approximately Rs 5.15 crores) investment in an Italian limited company
- €2 million (approximately Rs 20.6 crores) investment in Italian government bonds
- €1 million (approximately Rs 10.3 crores) donation to a philanthropic initiative in Italy
While this is the basic investment amount, you may have to pay additional charges including residence permit fees, legal fees, renewal fees, etc., which will increase the total significantly. These fees may vary according to the different investment options.
Who Is Eligible
- You should be 18 years or older
- Hold a valid passport
- Be a non-EU/EEA/Swiss citizen
- Have sufficient funds to make the investment
- Have made the investment within three months of entering Italy
- Provide documentation of your funds
- Have a clean criminal record
- Have comprehensive health insurance coverage
Documents Required
Documents required for the Italian Golden Visa fall into different categories, including:
Documents for Nulla Osta (certificate of no impediment) application
- A valid passport with at least 2 years and 3 months validity remaining
- Clean criminal record certificates
- Updated CV
- Consent proof from the investment or donation recipient
- Bank statements and a bank letter confirming your financial status
- A letter describing the investment or donation (max 1,000 words), including prior investment/donation experience
- Signed declaration of commitment stating the investment amount and intended residence in Italy
- Contact details and proof of authority if applying on behalf of a company
- Recent passport-size photographs
Documents for Italian Investor Visa Application
- Copy of the Nulla Osta and all original documents submitted for it
- Passport and passport-size photo
- Proof of accommodation in Italy
- Evidence of income from the previous fiscal year demonstrating earnings of over €8,500
- Proof of residence in the consular jurisdiction where applying
Documents on the basis of your investment
You may need to provide additional documents based on the type of investment you choose. Visit the official website to check the list of documents required for your specific investment.
The Application Process
1. Create a personal account on the Italian investor visa portal.
2. Fill in the online application forms with all your correct details.
3. Upload all required documents.
4. Download and electronically sign the final declaration and submit it.
5. Wait for the Committee's preliminary check and evaluation, which can take up to 30 days but may vary.
6. If approved, download your Nulla Osta (certificate of no impediment).
7. Apply for the 2-year investor visa at the nearest Italian consulate or embassy within 6 months.
8. Enter Italy within the visa validity period, which is 2 years.
9. Complete the investment in Italy within three months of arrival.
10. Apply within 8 days of arrival for the residency permit based on the investor visa.
11. Provide proof of completed investment to the portal to validate residency.
12. Renew the residency permit every 3 years by maintaining the investment and applying with a new Nulla Osta.
While this gives you an idea of Italy's Investor Visa, always keep an eye on the official website for any updates or changes in the visa process.
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