There are several ways in which a foreign citizen can relocate to Italy. From simple work and residence permits to entrepreneur visas, foreigners can apply for the type of visa which best suits their needs. However, there are also those interested in investing in Italy with the purpose of obtaining certain benefits and from them, the Golden Visa Program was created.
The government created the Citizenship by Investment program in 2016, however, it was enabled 2018. Under this scheme, foreign investors interested in a golden visa/citizenship by investment can now make certain investments in Italy and acquire an Italian passport through them.
Below, our immigration specialists explain how to enter the Citizenship by Investment Program in Italy. If you are interested in buying a golden visa in another country, our consultants can offer legal assistance.
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Who can obtain citizenship by investment in Italy?
Considering Italy is an EU member state and that the citizens of all EU countries can relocate here without too much hassle, the Citizenship by Investment Scheme was created for non-EU citizens interested in obtaining the same benefits as EU citizens.
Our immigration agents can explain the benefits that can be obtained under the Italian Citizenship by Investment Scheme.
The main routes to Italian citizenship by investment in 2024
The golden visa program is now called the Investor Visa Scheme and by enrolling in it, a non-EU citizen will first obtain permanent residence followed by citizenship by investment. The new program was launched recently with the purpose of offering more investment options to high net worth individuals from countries outside the EU who want to make an important contribution to the Italian economy.
The Investor Visa Scheme is made of several programs which makes Italy a suitable EU country to relocate to for non-EU citizens. Here are the main ways of obtaining golden passports in Italy:
- the entrepreneur visa which is can be obtained like any other residence permit, however, it targets those who want to start a business in Italy;
- the self-employment visa, which is not an investment program, but is a fast route to citizenship by investment;
- the Start-Up Visa Program which is made of two different components an investor can choose from;
- the Residency by Investment Scheme which resembles other programs in EU countries.
Seeking to obtain citizenship by investment in Italy in 2024 also implies gaining access to EU residency and the employment market in the European Union.
If you want to buy a golden visa with the purpose of relocating to the EU, our specialists also recommend you consider the programs developed by Cyprus and Malta – two of the cheapest countries to obtain golden visas.
Our qualified experts will give you information about the most attractive citizenship by investment countries and the best opportunities for relocation. Whether you opt to purchase real estate, subscribe to a fund, or make a donation, we will assist you in completing your investment. We can also assist if you are looking to move to a country by setting up a business.
The conditions for entering the Golden Visa Program in Italy
The Italian Golden Visa program can be accessed by the following categories of applicants:
- citizens of non-EU countries who are at least 18 years old at the time of the application;
- the candidates must be in a good health condition which must be supported by a health certificate;
- the applicants must have clean criminal records in order to qualify for a golden visa;
- the candidates must submit proof that they can meet the investment requirements.
It must be noted that the minimum investment necessary to obtain citizenship by investment in Italy is 500,000 euros.
Differences between investor visas in Italy
Being presented with several options represents greater chances for foreign citizens who want to apply for golden passports in Italy, however, this is also a challenge for those who need to decide.
In order to decide, our specialists can explain the main differences between the schemes created by the Italian immigration authorities through the Ministry of Foreign Affairs and International Cooperation.
The entrepreneur visa was the first option designated specifically for foreign citizens who wanted to immigrate to Italy as businesspersons. It still holds a lot of popularity among the non-EU citizens relocating to Europe because of the few requirements that have to be met in terms of financial investments. It is good to note that in order to obtain golden visa/ citizenship by investment in Italy through an entrepreneur visa, the foreign applicant must purchase an Italian company and become a manager, director or employee in it. Apart from this, the investor must make sure the company remains active for at least 3 years since the purchase.
Then, there is the self-employment visa which is an option for those with specific qualifications who can also start their own companies in Italy. Again, the conditions imposed under this type of visa are less stringent than those created for the residency by investment program. However, the applicant must ensure he or she has more than one contract with Italian companies for which various services are provided.
The specific programs that lead to citizenship by investment in Italy in 2024 are the Start-Up Visa and the Residency by Investment Scheme.
The Start-Up Visa Scheme is one of the most appreciated programs in Italy when it comes to immigration by investment because of the low financial requirements. An applicant must invest at least 50,000 euros in a local company. The main requirement of this scheme implies the investment to be made in an innovative field, such as research and development. Furthermore, the applicant can obtain this visa by submitting a business plan with the Evaluation Committee established for this program or by accessing the services of a business incubator.
By comparison to the Start-Up Visa Program, the Golden Visa Scheme requires a minimum investment of at least 500,000 euros. On the other hand, the Golden Visa allows for a simple investment option: the purchase of the real estate. The advantage of the Residence by Investment scheme is that permanent residence can be acquired in 5 years through this program.
Our golden visa agents can explain the procedures of obtaining citizenship by investment through all these programs. We can also provide you with information on other golden visa countries.
Investment requirements for buying a golden visa for Italy in 2024
As mentioned above there are a few criteria to be met by non-EU citizens choosing to obtain an Italian passport by investment. Apart from those, they must also make an investment in one of the following areas:
- at least 500,000 euros in an innovative startup company, as described by the authorities;
- at least 1 million euros in a local limited liability company, subject to specific criteria;
- at least 1 million euros in the projects that will have a positive impact on the community;
- at least 2 million euros in the purchase of bonds issued by the Italian government.
It should be noted that under the Citizenship by Investment Program in Italy, non-EU citizens will first be granted a two-year residence permit which can be extended for another 3 years. Also, the investment must be maintained for the entire duration of the program.
Our specialists in immigration can offer more information on all the requirements for obtaining citizenship by investment in Italy in 2024. Other golden visa countries like Spain provide for similar investment conditions.
Tax incentives under the Italian Citizenship by Investment Scheme
Compared to other citizenship by investment countries, such as Cyprus, Italy provides unique tax benefits for those buying golden visas here.
The tax system for expatriates is designed for workers who relocate to Italy for work-related purposes, such as employees and independent contractors. Under the plan, income earned in Italy through employment as an employee (or a similar category) and self-employment is subject to 30% taxation for five years, or 10% taxation if the worker moves to one of Italy’s southern regions. There are conditions that must be met before the program can be extended for an additional 5 years. 50% of the income earned in Italy during the prolonged time will be subject to taxes (10% for workers who have three or more children under the age of 18 or who are otherwise dependant).
How to choose the best investment program
Deciding between one of the types of golden visas presented above could be difficult, however, an investor must first decide on the amount of money willing to invest. Also, the applicant should choose whether he or she wants to work or retire here, as these visas provide for both options. As a last tip, the procedure of obtaining the visa should also be considered.
At the level of 2024, obtaining citizenship by investment in Italy is one of the best immigration pathways to this country. Apart from being able to start a new venture here, one can also retire to Italy.
The citizenship by investment program in Italy is one of Europe’s most appealing schemes in 2024. With the help of our specialists, moving here will be easy.
Why relocate to Italy by applying for citizenship by investment
Italy is currently the 3rd most important economy in the European Union and has also entered the top 10 largest economies in the world. With such impressive numbers, it is no wonder that Italy is appealing for foreign investors who will find many business opportunities here.
The government is keen on making the country as appealing as possible to investors from all over the world which is why the Citizenship by Investment Program was created as part of a larger plan of attracting foreign direct investments.
Under this program, non-EU citizens will have various benefits, such as traveling to other EU and Schengen countries without applying for entry visas. Also, they can bring family members to Italy without additional requirements. After only 5 years of residing here, they will also be allowed to obtain permanent residency in Italy and thus live in one of Europe’s most beautiful countries.
How to obtain a residence permit after entering Italy
After entering Italy with your entry visa, you have eight days to apply for a permit that is valid for 2 years. Within 3 months of your arrival in Italy, you must complete your investment or contribution in order to be eligible for a residence permit.
You must present your passport and entry visa to a local police station to apply for a resident permit there.
After completing this action, access the portal and enter the following data:
- the day you arrive in Italy;
- date of your police station application;
- the address of the police station where your application was submitted.
For detailed information on how to obtain citizenship by investment in Italy, please contact us. We can assist with personalized services based on the investments you are interested in other citizenship by investment countries.