Italy Golden Visa 2024 – The Ultimate Guide by Experts

With its prime location in Mediterranean Europe, high quality of life, and incredible family-orientated culture, Italy is an attractive destination for expats and international families seeking European residency. Thanks to the Italy Golden Visa, foreign investors and their family members can become Italian residents in just a few months.

An appealing aspect of this Investor Visa for Italy is that after living in Italy for more than five years with this temporary residence permit, you can apply for permanent residence in Italy. This grants you similar rights that Italian citizens receive, such as the option to live and work in other EU countries without applying for a visa or work permit.

What is the Italy Golden Visa program?

Launched in 2017 by the Italian government to encourage foreign direct investment, the Italy Golden Visa, also called the ‘Investor Visa for Italy,’ allows third-country nationals (non-EU/EEA and non-Swiss) to obtain a residence permit in exchange for an investment in the country’s economy.

The last changes to the Italy Investor Visa program were made in 2017, with Italian immigration management offering a hassle-free application process.

Valid for two years initially and renewable for three additional years, this Investor Visa for Italy is ideal for international investors seeking to live in one of the cornerstone Schengen zone countries in the heart of Europe.

Why Italy?

With arguably the most delicious cuisine in the world, its cultural and natural heritage seeping through all aspects of everyday life, and a wide array of beautiful landscapes; the picturesque setting of Lake Como, the unique geological structure of the Dolomites, and the rolling hills of Tuscany, Italy offers everything in the form of beauty and more.

Its strategic location in Mediterranean Europe and well-connected international airports, such as Malpensa International Airport in Milan, and Leonardo da Vinci–Fiumicino Airport in Rome, also provide a lot of travel privileges. You have easy and cheap access to other Schengen zone countries in the Mediterranean, like Malta, Cyprus, and Greece, as well as Asia and Africa.

The Italy Investor Visa program is perfect for international investors and their family members looking for a place to reside in Europe that will offer stable returns while not breaking the bank in terms of living costs. Italian culture and lifestyle are almost unbeatable, with many historical monuments and art exhibitions on display. Furthermore, the fact it has the most UNESCO World Heritage Sites of any country is a testament to its historical depth and preservation. 

These benefits are without touching on the incredible climate and the country’s sheer geological diversity, from the Alps in the north, where you can enjoy skiing, to the sun-drenched south and turquoise waters of Capri. Then you have Sicily and Sardinia, among many other islands with a wealth of culture to explore – each place with its own traditions and unique cuisine. If you invest in Italy intending to obtain permanent residence, you will have a lot to discover and sink your teeth into.

What are the benefits of an Italian Investor Visa?

The Italy Golden Visa “La Dolce Visa“ has attracted many expats and investors worldwide in recent years, offering excellent investment options and benefits for non-EU citizens.

If you obtain an Italian Golden Visa, you may enjoy these perks:

• Enjoy a special tax regime as a foreign Italian tax resident
• Live, work, and study in Europe
• Freedom of movement in the European Union
• Residence extended to your entire family
• No minimum stay requirements in Italy
• Fast online process to obtain the Investor Visa
• Fantastic lifestyle in stunning Italy
• Permanent residence after five years
• Eligibility for Italian citizenship after ten years
• Immediate family members can become Italian residents without additional costs

How to Get the Italy Golden Visa

There are several investment routes available to obtain the Italian Investor Visa:

Investment requirements

In order to maintain your Italy Investor Visa, you must:  

• Make the minimum investment or donation declared in the Italy Investor Visa application within three months of the date of entry into Italy
• Maintain the original investment for the entire validity period of the residence permit

1. Submit all your documentation to the official Italian investor platform.
2. The Italian Investor Visa for Italy Committee evaluates your application
3. Within 30 days of your application, the Investor Visa Committee will give you an answer. If the evaluation is positive, you will receive a certificate of no impediment (Nulla Osta).
4. With the Nulla Osta certificate, you may apply for an Investor Visa at the nearest Italian Embassy or Consulate in your country of permanent residence within six months of its issuance. Your Investor Visa is valid for two years.
5. Within eight working days of entering Italy, you must apply for an Investment Visa residence permit at the local Questura where you intend to live. The permit is valid for two years from the date of entry to Italy.
6. Once you’ve been granted your investor residence permit, you have three months from the communicated entry date to make your full investment or donation to the Italian government. If you fail to make the investment or withdraw your investment, the Investment Visa will be revoked.
7. You can renew your Italy Investor Visa for three additional years as long as you maintain your original investment or donation.

Italy Golden Visa Application Processing Time

The Required Documents for Italy's Golden Visa

You must follow a set of steps to apply for the Italy Golden Visa. The first step is applying for the Nulla Osta application, and to do that, you will need to present the following documents.

• Your contact details
• Copy of your passport
• Your curriculum vitae
• The investment choice and the transferability and legitimacy source of your financial assets
• A clean criminal record
• A description of the characteristics of the investment/donation and proof of consent from the recipients
• A declaration of commitment to use the funds, validated with an electronic signature, including an indication of the amount you are willing to invest and the municipality where you wish to settle

Documentation for the Investor Visa

Once you receive your Nulla Osta application, the following documents must be prepared to submit to the Italian Consulate in your country of residence:

• A copy of the certificate of no impediment issued by the Investor Visa for Italy Committee, together with all the original application documents
• Proof of accommodation in Italy, including hotel bookings or rented apartments
• Proof of an income obtained during the previous financial year in your country of residence exceeding the minimum threshold required by law for exemption from healthcare expenses [currently equal to approximately €8,264 (about $9,075)]
• A passport photograph
• A valid passport
• Proof of residence in the relevant consular district

Note the following:

1. All the documents you submit must be in original English or Italian, and if you have the original copies in different languages, ensure to include a sworn translation.
2. Besides the primary documents you will need to prepare, some supporting documents differ according to the type of investment you’re choosing for the Italian Investor Visa program. Read the following table carefully to know the exact documents you will need for your case.

Validity of Italy Golden Visa

It’s worth mentioning that the Italy Golden Visa – La Dolce Visa – is valid for two years, and you will be able to enter Italy during this time and apply for an Italy residence permit.

The investor residence permit is also valid for two years, starting from the day you arrive in Italy. After two years, you can apply for a three-year renewal.

Renewing your Italy Golden Visa

The main condition for you to renew your Italy Investor Visa is to keep your investment in the country and maintain a valid residence permit. With at least 60 days before your current residence permit expires, you can apply for a new three-year residence permit. Make sure to have a new Nulla Osta application before applying for a renewal.

You should also know that the Italy Investor Visa renewal is subject to approval or rejection by the Italy Investor Visa Committee, so prepare your documents carefully.

Italian Citizenship Through the Italy Golden Visa

The Italy Investor Visa isn’t a fast or direct way to Italian citizenship based on Italy immigration law. However, by living in the country for ten consecutive years (five years through the Italy Investment Visa and five after obtaining permanent residency), you can petition for Italian citizenship by naturalization to become an Italian citizen and acquire an Italian passport.

Italy Tax Incentives for New Residents

When looking into the Italy Golden Visa tax for applicants, new residents can benefit from a special tax regime if they are willing to transfer their tax residence to Italy and pay income tax in the country. 

If they have not been tax residents in Italy for at least nine years over the previous ten, residents may opt to pay an annual substitute tax of €100,000 (about $110,000) on income earned abroad. This concession can also be extended to family members by paying an additional yearly substitute tax of €25,000 (about $27,400) per family member. The scheme has a maximum duration of 15 years.

Should I apply for the Italian Golden Visa?

If you are looking to obtain European residency through an online Golden Visa program with a fast application process, the Italian Golden Visa program is a good option. In exchange for a qualifying investment, with investment options such as Italian government bonds, an Italian limited company, or a donation, you and your family are able to obtain Italian residency and benefit from an attractive tax regime in a safe and beautiful European country.

You should know that choosing the Italy Golden Visa won’t allow you to retrieve your investment funds at the end of the required period for the investment program. Still, choosing your investment wisely can yield significant returns on your initial qualifying investment.

Alternatives to Italy Golden Visa

As previously mentioned, the Italian Golden Visa program is a very appealing investment program, and many non-EU citizens choose to obtain the Italy Golden Visa. However, other European alternatives can guarantee similar options and facilities.

If you are looking to acquire an Investment Visa with more diversified economic routes, check out some programs in other countries – such as the Portugal Golden Visa or the Spain Golden Visa programs. These schemes offer very attractive and affordable investment routes. There is no Italy Golden Visa real estate option, whereas the Spain Golden Visa can be acquired by purchasing real estate.

There is also the Greece Golden Visa. Although it also requires you to stay in Greece for a minimum of seven years to become eligible for citizenship, it offers a real estate acquisition route starting from €500,000.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship by investment program for individuals wishing to secure their future and become global citizens. With offices in Portugal, the United Kingdom, Hong Kong, and Brazil, our multilingual team guides individuals and families from start to finish, providing expert advice considering freedom, mobility, taxation, and security.

• We have helped hundreds of clients from 35+ countries in all the top residency by investment and citizenship by investment programs. With an in-depth and comprehensive understanding of the area, we provide our clients with solid guidance. 
• Our team has never had a case rejected. Our 100 percent approval rate sets us apart from our competitors and guarantees that you can expect a successful application.
• Our transparent pricing covers all the processes from opening your bank account, document certification, and legal due diligence to investment and submission. As there is one fee for the entire process, you can be confident that you will not face any hidden costs later.
• All data is stored within a GDPR-compliant database on a secure SSL-encrypted server. You can be safe knowing that your personal data is treated with the utmost security.
• Global Citizen Solutions provides an all-encompassing solution. Our support can continue even after you receive your passport. We offer additional services such as company incorporation, Trusts, and Foundations formation.
• The BeGlobal Onboarding System® allows you to access the status of your application every step of the way, something that sets us apart from our competitors.

Frequently Asked Questions about the Italy Golden Visa