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Italy

Italy Golden Visa Overview

Italy’s Golden Visa was previously known as the Italian Investor Visa and offers residency to applicants investing in one of the following areas:

  • €2,000,000 invested in government bonds
  • €1,000,000 philanthropic donation
  • €500,000 investment in an Italian limited company
  • €250,000 invested into a certified innovative start-up

Italy does not currently have a programme for investors purchasing direct real estate. However, the most straightforward way to currently qualify for Italy’s Investor Visa Programme is by making a €500,000 investment into a limited company. Casa Aurum is collaborating with a private equity fund who are offering investors an opportunity to become shareholders in an exclusive hospitality venture, thereby contributing to the development of luxury hotels across Italy. This avenue proves advantageous for individuals seeking a hands-off, passive investment that fulfils the programme requirements. See here for more information on this investment route

ITALIAN CITIZENSHIP by Investment

Following investment and ten years of tax residency it is possible to apply for Italian citizenship. If you do not plan to live in Italy, but your end goal is citizenship within a European nation, then we advise looking at Portugal’s Golden Visa programme as an alternative solution.

Italian Passport Strength

Italy’s passport is strong, offering visa-free access to around 197 countries and territories worldwide. These visa-free destinations cover 80.4% of worldwide GDP and 90.9% of worldwide travel. Italy ranks 35th in Casa Aurum’s overall ranking of world passports and although passport strength would not be a sole consideration for gaining citizenship in Italy the benefits are a bonus for high net worth investors considering the Italian Golden Visa and are willing to settle for the required 10 year residency before applying for citizenship.

What is Required for An Italian Golden Visa

Alongside the required investment, applicants will need to provide various documentation, including a clean police record, personal ID documents and proof of funds.

Process to obtain An Italian Golden Visa

Following a full consultation with Casa Aurum and a pre-application background check, our advisors will assist you in choosing the most appropriate investment option for Italy’s Dolce Visa programme. From the date the file is completed, and the application is submitted, investors residency visas can often be approved as quickly as 60 days. Investors must make one trip to Italy during the process to submit biometric data, but most of the process can be completed remotely.

Benefits of Italy’s Golden Visa Programme

Successful applicants will have the right to live, work and study in Italy. The main applicant can include their family, including their spouse, dependent children and dependent parents. Following five years of residency, applicants can apply for Permanent Residency and potentially citizenship after ten years of full-time residency. Italy is rich with culture, amazing landscapes, and fantastic food. The country is home to some of Europe’s most popular cities and tourist destinations attracting visitors from all over the globe.

How to Apply

Step 1

Book your free consultation with Casa Aurum’s team of experts to discuss and decide which programme and investment route is best suited to you and your family. Our experienced consultants will advise you on all applicable fees and guide you through the entire process in detail.

Step 2

You can choose your real estate investment remotely through our trusted advisors, or you can visit Italy to select your investment and appoint a lawyer to take care of the conveyancing on your behalf. Through Power of Attorney the property purchase can be completed at the notary in your absence.

Step 3

Once the real estate investment is complete, usually within 30 days, you can then apply. Clients will need to attend an application appointment to submit their biometric data, or it can be submitted within six months following the appointment.

 

Step4

Once your golden visa application has been approved you will be issued with a five-year Italy Permanent Residency permit. This can be renewed every five years providing the real estate investment is maintained.

 

 

Italy FAQ's

Casa Aurum has more than 10 years’ experience dealing with both the Italy and Portuguese golden visa programmes. The main difference between these programmes is that Portugal offers a more flexible path to citizenship. Italy’s Permanent Residency programme is better suited to those who specifically want real estate in Italy, with the added advantage of a residency permit. If your end goal is citizenship in the EU, then Italy may not be the most suitable option as you must reside full time for seven year and speak fluent Italy.

Athens is one of the most favoured areas for investment for the golden visa in Italy. However, as of May 2023, the required investment in Athens and 35 other municipalities in Italy will double to €500,000. The government are introducing this law in a bid to spread foreign investment more equally across the country. Elsewhere the investment remains at €250,000.

It is not possible to obtain citizenship through investment in Italy without a period of residency. Investment in real estate can obtain a golden visa, a permanent residency permit, and the right to live full time in Italy. Following seven years of residency, Italy citizenship can be applied for, providing the applicant can speak fluent Italy. Note that Italy is considered one of the world’s hardest languages to learn and for many this factor will stop them applying for Italy Citizenship. If your end goal is to secure citizenship in Europe, then you may wish to consider another programme.

Anyone can apply for Italy’s Golden Visa Programme. Casa Aurum has handled applications from over 150 countries worldwide. As with any programme, certain nationalities, such as Iranians and Russians, face banking sanctions so will be prohibited from transferring their funds to a Italy bank. Casa Aurum can advise on a case-by-case basis.

Non-residents in Italy will pay tax on their income derived in Italy but not on income from outside of the country. Income tax starts at a rate of 22%. Rental income from property in Italy is taxed at rates, from 11% to 33%. Certain expenses are deductible from the gross income. Capital gains tax (CGT) is charged at 15% on property sales.

Yes, however you must have invested a minimum of €250,000 equity in the property. So, for example, a purchase of €750,000 with a €500,000 mortgage will qualify for the golden visa application.

The key disadvantage is the inability to apply for Italy citizenship without a period of residency in Italy and the ability to speak fluent Italy. Our clients are not usually looking to relocate countries and that is one of the key reasons why Portugal remains more popular than Italy for Golden Visa investors.

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