Italy-Investor visa-residency

A practical guide to Italy’s investor visa

What are the steps an Investor must follow to obtain residency in Italy?

6 min readOct 3, 2023

Many people are confused by the different steps and documents which are issued during the immigration procedures for moving to Italy. The Investor Visa procedure is different from ordinary procedures and who obtains an Investor Visa is given some facilitations and priorities.

For more detailed information check here Investor Visa for Italy | Italian Immigration for Foreign Investors (investorvisaitaly.it)

The steps until the obtainment of residency registration with the City Hall, are the following:

1) Application

The application is filed electronically on the Ministry’s dedicated portal and the Investor will need to attach the documents requested in the Ministry’s guidelines.

𝗨𝘀𝗲𝗳𝘂𝗹 𝘁𝗶𝗽𝘀: the application will need to be signed by the applicant with an “electronic signature” and the procedure for obtaining it is not straighforward.

2) Nulla Osta (Ministry approval)

Within 30 days from filing the application, if the Committee approves the request, the Investor will receive via email the Ministry’s clearance (“certificate of no impediment”).

The notice shall be sent also to the Italian Consulate which was listed in the application and the Investor shall be free to apply for the visa.

𝗨𝘀𝗲𝗳𝘂𝗹 𝘁𝗶𝗽𝘀: the Nulla Osta will expire after 6 months and the Investor will therefore need to apply for the visa before its expiry.

3) Visa

After obtaining the nulla osta, a visa application shall be submitted at the Italian Consulate listed in the application (the applicant cannot choose a different Consulate).

Investor Visa’s applications shall be given priority by the Consulate (but some Consulates will need to be reminded that priority is gra nted by law! and it is not a courtesy requested by the applicant) and generally the visa is issued in 7–10 days.

The Consulate will stamp the visa on the passport and this allows the individual to enter Italy and start the process for registering with the Police. Until the expiry of the visa, the individual can travel in and out the Schengen area also after 90 days from his first entry — even if the permit of stay application is pending.

𝗨𝘀𝗲𝗳𝘂𝗹 𝘁𝗶𝗽𝘀: upon expiry, the visa does not need to be renewed. The visa is replaced by the permit of stay.

4) Permesso di soggiorno (Permit of stay)

The Investor must:

Within 8 days from arrival in Italy take an appointment with the Police Office of the place where he has his accommodation to file for the Permit of Stay. The Police will take photos and carry out the fingerprinting and will give the applicant a receipt (see below) that confims that the application is pending

within 3 months from entry, execute the investment (which has been approved by the Minsitry) and upload all documents in the Ministry’s portal.

After few months, the Police will inform the applicant that the permit is ready and can be collected. The permit of stay is a document issued by the Police (Questura) that allows the foreigner to live in Italy and indicates the purpose of the stay (the one issued to the Investor allows also to work).

The first permit will have a duration of 2 years and the application for extension must be filed 60 days before the expiry date (but better to start in advance) using the same Ministry’s portal and confirming that it has maintaned the investment.

𝗨𝘀𝗲𝗳𝘂𝗹 𝘁𝗶𝗽𝘀: all appointments must be done in person by the applicant who cannot delegate a third party.

5) Residency — Residenza

A person is considered to be tax resident in Italy if, for the majority of the year (at least 183 days a year, 184 for leap years):

(i) they are entered in the National Registry of the Resident Population in Italy; or

(ii) they have their place of habitual abode; or

(iii) they have in Italy their main centre of interest and affairs

Anyone who plans on living permanently in Italy must register with the local Town Hall (Comune, Ufficio Anagrafe). Investors who plan to spend in Italy less that 183 days/year can avoid to register residency and under certain condtions are not subject to any tax obligations (this should be however discussed with a tax counsel).

Registration allows the Investor to:

register with the National Health Service
having goods imported duty free
purchasing a car
opening a bank account
apply for permanent residency after 5 years.

𝗨𝘀𝗲𝗳𝘂𝗹 𝘁𝗶𝗽𝘀: the holder of an Investor Visa is allowed by law not to spend any minimum time in Italy and therefore, unless he decides to live in Italy permanently, can avoid registering with the Comune.

Investor’s rights

Registering as resident allows the Investor to:

Health coverage: applicants can obtain registration and coverage with the National Health Service by paying a minimal fee;
Permanent residency: if the applicant registers with the City Hall and can show to have an income in Italy and have filed tax returns, he/she can apply for permanent residency after 5 years;
Citizenship: after 10 years of residency applicant is entitled to apply for Italian citizenship (on condition that he/she has filed the tax returns for the last 3 years before the application).

𝗟𝗮𝘀𝘁 𝗯𝘂𝘁 𝗻𝗼𝘁 𝗹𝗲𝗮𝘀𝘁 …… 𝘁𝗮𝘅 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀!

Italy offers several tax benefits and incentives to new residents:

7% income tax: Pensioners residing abroad who move their residence to certain municipalities of the Centre and Southern Italy can benefit from the optional scheme for non-national pensioners, which provides for a substitute tax of 7% on all income generated abroad;
Tax benefits for impatriate workers: income from employment and self-employment generated in Italy by workers who move their tax residence in Italy is 50% exempt. The benefit is due from the year in which the residence for tax purposes is acquired and for the following 4 years;
Individuals transferring their tax residency in Italy can also apply for a special yearly flat tax of € 100,000. To qualify for the option the applicant must not have been resident in Italy for at least nine tax years during the previous 10 years.

Useful references

Disclaimer: The information provided on this article (i) does not, and is not intended to, constitute legal advice; (ii) are for general informational purposes only and may not constitute the most up-to-date legal or other information (iii) this website may contain links to other third-party websites. Such links are only for the convenience of the reader; (iv) readers should contact their attorney to obtain advice with respect to any particular legal matter.