Italy — RBI — Golden Visa

Why you should choose Italy’s Golden Visa

Italy’s investor visa has many benefits compared to a standard residency permit

Photo by Aaron Burden on Unsplash

Main benefits

1. Investment must be executed only after obtaining the visa, within 3 months from the arrival in Italy
2. Investor visas are processed by the Consulate with priority. Per our experience processing time is max. 1–2 weeks
3. If Investor spends in Italy less than 183 days/year, it may not have any tax obligations (subject to some condtions, check with your tax counsel)
4. Visa can be extended to spouse and children up to 18
5. Investor will be given a 2 year permit which will allow to travel freely within the Schengen area (for no more than 90 days any 180 days period)
6. After 2 years the permit can be extended for periods of 3 years, on condition that the original investment is maintained
7. Should the Investor become tax resident and pay taxes in Italy (there are favorable tax schemes for HNW individuals, new residents and pensioners), can apply for permanent residency after 5 years and for citizenship after 10 years
8. Residency registration with the City Hall allows the Investor to: (i) register with the National Health Service; (ii) having goods imported duty free; (iii) purchasing a car; (iv) opening a resident bank account
9. Investor visa is the only visa that allows the Investor not to spend any minimum time in Italy
10. Investor and spouse are allowed to work. The permit can also be converted into a work permit, if Investor meets the requirements for the relevant permit applied for
11. The Investor can do the investment also using funds of a company or trust, on condition that it proves to have the necessary powers to execute the investment (no need to be a shareholder or CEO)
12. Investor permit holders are exempted from the Integration Agreement obligations (unless they apply for permanent residency) therefore they do not have any obligation to pass a language test

How to apply for an investor visa

The individual must register and apply on line through the Government’s dedicated portal. The application is in Italian or English. Any supporting documents which need to be submitted, if not available in Italian or English, must be translated with a certified translation.

What are the most popular investments?

• purchase at least € 2 million in government bonds; or
• invest at least € 500,000 purchasing shares of a publicly listed company
• if investing in non-listed companies (Srl or Spa), the company must have filed at least 1 year tax returns and yearly financials
• € 250,000 in shares or capital increase of a Startup company
• investing in some selected SICAV or SICAF funds

What information applicants must submit?

1. Application form, duly compiled with all information and signed with digital signature
2. A detailed curriculum vitae

3. Selection of the type of investment

4. A detailed letter from a bank where it is confirmed the availability of sufficient funds to execute the investment and that the bank has carried the due diligence required by the FATF International standards on anti-money laundering

4. Certificates of non-existence of criminal convictions and pending charges from countries where the applicant has lived in the last 10 years

What are the main steps

1. Application is filed online on the Ministry’s portal
2. if approved, the Ministry will issue a clearance to be used for the visa (Nulla Osta)
3. Investor can apply for the visa at Italian Consulate. Investor Visas are given priority appointments
4. Investor can enter Italy and will need to (i) register with the Police within 8 days from entry (investors are given priority appointments); and (ii) execute the investment within 3 months from the date of entry
5. Ministry must be informed as soon as the investment is executed and will issue final approval. Investment shall be kept in custody with an Italian bank or broker and maintaned foir the duration of the permit

For more information see

• www.investorvisaitaly.it

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.