Obtaining a residence permit in Italy by investment offers many advantages. Igor Buglo, Head of the Maltese office, MBA, Investment Programs Expert at Immigrant Invest, explains the benefits of Italy’s Golden Visa program, the requirements, and the process to obtain a residence permit under Italy Golden Visa program.
What is the Italy Golden Visa?
The Italy Golden Visa allows non-EU citizens to gain residency by investment of at least €250,000. This pathway aims to attract foreign investors by offering a straightforward path to European values including visa-free travel within the Schengen Zone.
Established in 2017, the program has become a popular choice for high-net-worth individuals seeking to establish a presence in Europe.
7 Benefits of an Italy Residence Permit by Investment
1. Visa-free travel. With an Italian residence permit, you can travel within the Schengen Area without obtaining an additional visa. This means you can visit 29 European countries without additional visas. It is particularly valuable for business travellers and tourists who enjoy exploring Europe.
2. High quality of life. Italy offers a high standard of living, with excellent healthcare, education, and public services. The country is renowned for its safety, rich culture, history and cuisine.
3. Family inclusion. The Italy Golden Visa allows including immediate family members. Your spouse, children and parents can enjoy the same residency rights. This means your family can live, study, and work in Italy, benefiting from the same high standard of living.
4. Business opportunities. Italy’s location in Europe provides vast business opportunities. You can easily access European markets and benefit from Italy’s well-developed infrastructure. The country is home to numerous international companies and offers a friendly business environment for investors.
5. Tax incentives. Italy offers special tax regimes for new residents who stay in Italy more than 183 days a year. This includes a flat tax rate on foreign income and other incentives for high-net-worth individuals. These tax benefits can reduce investor’s tax burden and increase their financial flexibility.
6. Pathway to citizenship. After 10 years of residency, you may qualify for Italian citizenship, enjoying full rights as an EU citizen. This long-term benefit offers stability and security for you and your family.
7. Cultural experience. Residing in Italy allows you to immerse yourself in world-renowned art, music, and historical landmarks, enriching your way of life. Whether it’s exploring the Colosseum in Rome or navigating the canals of Venice, Italy provides a wealth of cultural experiences.
Requirements for Investors
Necessary documents. To apply for the Italian RP by investment, applicant must submit:
- A current international passport
- Evidence of investment
- Medical insurance
- A certificate of no criminal record
Additional documents may be required based on the investment type. Ensuring all documents are correctly prepared will facilitate a smooth application process.
There are several investment options to choose from:
- investments in an innovative startup of at least €250,000;
- business investment of at least €500,000;
- philanthropic donation of at least €1 million;
- government bonds purchase of at least €2 million.
In the next block you will find out how to get Italy Golden Visa.
How to Obtain an Italy Golden Visa: Step-by-Step Process
Step 1. Choose investment. Select one of the eligible investment options that suits your financial plans. Research each option to determine which best aligns with your goals and compare additional costs.
Step 2. Gather documents. Collect all required documents, including proof of investment and personal identification. Proper documentation is crucial for a successful application.
Step 3. Submit application. Submit your Italy Golden Visa application through the Italian consulate or embassy in your country of residence. Make sure all forms are accurately filled out and that documents are translated and notarized.
Step 4. Wait for approval. The review process can take several months. Be ready to provide any additional information if requested. Regularly monitor your application’s status online.
Step 5. Receive residence permit. Once approved, you will receive your residence permit and can go to Italy to make an investment and get residence permit cards.
Special Tax Regime for Investors
Italy offers a special tax regime for new residents, which is rare among the Golden Visa programs. This includes a flat tax of €200,000 per year on foreign income. Also, there are no inheritance or gift taxes for assets outside Italy. These incentives are designed to attract high-net-worth individuals and make Italy an attractive destination for investors.
To be eligible, you must establish tax residency in Italy and make a substantial investment. This regime offers long-term tax benefits for up to 15 years. Consult a tax advisor to understand how this regime can benefit your particular situation.
Conclusion
In summary, obtaining an Italy Residence Permit by Investment offers numerous benefits, including visa-free travel, family inclusion, and tax incentives. The process involves choosing an investment, gathering documents, and submitting an application.
