Italy Investor Visa Requirements: A Detailed Legal Insight

The Italy Investor Visa program offers high-net-worth individuals a viable alternative to the Portuguese and Greek Golden Visas, providing a pathway to European residency (and eventually citizenship) for non-EU investors.

As a residency-by-investment option within the EU, this golden visa program offers entry to Europe’s Single Market, visa-free travel across the Schengen Area, and the opportunity to live in globally influential cities such as Milan, Rome, and Venice.

The Italian Investor Visa, commonly known as the Italy Golden Visa, only requires the applicant to make a qualifying investment after the visa has been approved. Italy Investor Visa requirements are relatively straightforward compared to other EU programs, making it an attractive option for those seeking long-term residence in Italy. Holders of the Italy Investor Visa may become eligible for citizenship after 10 years of legal residence, although discussions are ongoing to reduce this to 5 years.

Italy Investor Visa Overview

Commonly referred to as the Italy Golden Visa, the investor visa for italy was launched in 2017 to attract foreign capital and talent. This Visa allows non-EU nationals to obtain residency in Italy by making a qualifying investment. The program is available to individuals who can invest a minimum of €250,000 (approx. USD 270,000), with options ranging up to €2 million (approx. USD 2.16 million), depending on the selected asset class.

Successful applicants receive an initial two-year residence permit, which is renewable for 3 year periods provided the investment is maintained. There is no requirement for the investors to be physically in Italy to maintain residency. After ten years of full residency, applicants may be eligible to apply for Italian citizenship, provided they meet additional integration criteria.

Holders of Italy Golden Visa are permitted to live, work, and study in Italy, access visa-free travel across the Schengen Area, and have access to Italy’s healthcare, and education systems.

Harvey Law Group (HLG) offers full service support for the Italy Investor Visa application process. From helping applicants to choose the appropriate investment option and obtaining the Nulla Osta(no-objection certificate), to coordinating with Italian authorities and managing all documentation requirements, Harvey Law Group thoroughly guides investors when applying for residency in Italy through the Investor Visa program.

Italy Investor Visa requirements

Investment options available to foreign investors

To qualify for the Italy Investor Visa, applicants must be non-EU nationals who meet specific financial and legal criteria. The Italy Investor Visa requirements include making a qualifying investment into one of the government-approved categories. These investments may include:

1. A minimum investment of €250,000 (approx. USD 270,000) in a qualifying innovative Italian startup;
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3. An investment of €500,000 (approx. USD 540,000) in an Italian limited company (listed or unlisted);
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5. A €1 million (approx. USD 1.08 million) donation to a philanthropic initiative benefiting culture, education, immigration management, scientific research, or the preservation of cultural and natural heritage;
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7. Or €2 million (approx. USD 2.16 million) investment in Italian government bonds, held for a minimum of two years.

In addition to meeting the financial requirements, applicants must also be able to demonstrate that their funds have been lawfully acquired and available to be transferred to Italy. Applicants must also have no criminal record, pose no threat to public security, and be able to support themselves and their family members during their stay in Italy without relying on state resources.

HLG can assist with due diligence and documents collection, selection of investment, submission of application for a certificate of no impediment (Nulla Ostra), submission of application for the investor visa and dependents visas, making the investment, and other aspects of the process.

The Italy Investor Visa grants a two-year residence permit, which may be renewed for three-year periods, provided the investment is maintained.

The Italian Visa program is available to both individuals and their dependents. Eligible dependent family members include a spouse and children (under 18). Please note, adult children and parents who are dependent due to health conditions may also be eligible.

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Investment Options Under the Italy Investor Visa Program

The Italy Investor Visa program offers four investment options designed to provide options for different investor profiles and interests. From low-risk government bonds to more ambitious investment in innovative start-ups, there are several options to tailor the investment opportunity to match different investor’s profiles. The qualifying investment categories have been purposely designed to attract foreign investment while also supporting Italy’s economic and social development.

Innovative Startups: Investment starting from €250,000

Innovative startups are defined under Article 25, paragraph 2, of Decree-Law No. 179 of 18 October 2012, as amended by Law No. 221 of 17 December 2012 and subsequent updates.

The official list of innovative startups, which is overseen and updated on a weekly basis by the Italian Chamber of Commerce, can be found here, https://startup.registroimprese.it/isin/home .

In Italy, an innovative startup is a capital company (e.g. an S.p.A. (joint-stock company), S.r.l. (limited liability company), or cooperative), that meets several specific legal and operational criteria.

View Program Page : Italy Golden Visa – Investor visa

To qualify, the company:

1. Must have been incorporated within the last five years.
2. Must have its legal headquarters in Italy or another EEA country with at least one operational branch or production site in Italy.
3. Must generate annual revenues of less than €5 million.
4. Must not be publicly listed on a regulated market.
5. Is not allowed to distribute profits, and instead has to reinvest all earnings into the business.
6. The company’s primary objective must be the development, production, and commercialization of innovative goods or services with high technological value.
7. Must not be formed through a merger, demerger, or acquisition of existing business assets.

The innovative startup must also meet at least one of the following three additional innovation criteria:

1. a minimum of 15% of its costs or turnover must go toward research and development;
2. at least one-third of its workforce must hold a PhD or two-thirds must have a master’s degree with R&D experience;
3. or the company must own, license, or hold rights to at least one patent or registered software.
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Italian Companies: Investment of at least €500,000

Eligible investments must be made in obtaining shares or equity stakes in limited companies that are incorporated and are tax residents of Italy, as per Article 73 of the TUIR (Presidential Decree 917/1986).

Companies are considered operating, if it is active and has filed at least one financial statement by the time of the visa application. Companies can be either listed or unlisted, but the company’s legal name and tax code are essential and must be included in the application.

Philanthropic Donations: Contribution of €1 million to public interest projects

Eligible donations must be made in a project that supports or promotes public interest in the fields of culture, education, immigration management, scientific research, preservation of cultural and natural heritage.

Italian Government Bonds: Minimum investment of €2 million

Applicants can invest in the following types of Italian government bonds:

1. Treasury Certificates (CCT/CCTeu),
2. Zero-coupon Treasury Bonds (CTZ),
3. Long-term Treasury Bonds (BTP),
4. Long-Term Treasury Bonds index-linked to Eurozone inflation, and;
5. BTP ITALIA.

Please note that in order to extend the initial residence permit, holders of Italy’s Golden Visa must maintain their investment for the entire duration of the visa’s validity.

Step-by-Step Application Process

The Italy Investor Visa process is designed to be a clear and efficient process for applicants. The process is largely completed online and includes the following steps:

1. Nulla Osta (Certificate of No Impediment)

Prepare and complete the online forms, and upload the required documents including a copy of your CV, passport, proof of funds, criminal record, and investment intent.

After submitting your electronically signed declaration, the Committee will conduct a preliminary check. If the preliminary check concludes that the application is complete, the Committee will carry out an evaluation within 30 days, and the applicant will receive one of three outcomes:

1. Approval, with the granting of the Nulla Osta;
2. A request for supplementary documentation; or,
3. A reasoned rejection

2. Visa Application at Italian Consulate

Once the Nulla Osta is issued, applicants have up to six months to apply for the Investor Visa at their nearest Italian Embassy or Consulate.

At the appointment at the Consulate to apply for the Investor Visa, applicants will be required to submit a copy of the certificate of no impediment together with all the original application documents.

3. Entry to Italy & Residency Permit Application

Upon successful submission of the required documents, the Embassy/Consulate will issue the applicant with the Investor Visa that will be valid for 2 years. The Italy Investor Visa allows the holder to enter the country at any time within the two-year validity period and requires them to apply for an investor residence permit (Permesso di Soggiorno) within eight days of arrival.

The residence permit will be issued for 2 years from the date of entry in Italy, and the qualifying investment must be made within three months from entering Italy under the Investor Visa.

If the holder of the Italy Investor Visa has not entered Italy and completed the required process within two years of the visa being issued, the entire procedure will be considered void.

4. Investment Confirmation & Permit Renewal

After making the required investment, the applicant must provide proof. The Committee will then review and confirm compliance within 30 days. Failing to make the investment within 3 months of entering Italy will result in revocation of the residence permit.

5. Maintaining and Renewing the Residency Permit

The investor visa holder must maintain the original investment for the entire duration of the residence permit, otherwise the permit will be revoked. The investor must maintain the original purpose of the investment without any changes under any circumstances.

Applicants can renew their initial 2 year residency permit for further three year periods. Renewal is subject to a preliminary approval by the Committee, which must ensure that the investment/donation has been maintained for the entire validity period of the residence permit.

If this evaluation is approved by the Committee, a certificate of no impediment to the renewal of the residence permit (Nulla Ostra al Rinnovo”) will be issued.

As mentioned earlier, there is no minimum residency requirement for the purpose of renewals.

Application for renewal should be submitted to the Questura in charge at least 60 days before expiry of the current residency permit. Therefore, an investor planning to renew their residence permit should apply well in advance for the certificate of no impediment required for the renewal process.

Timeline 3-6 months

The estimated timeline for applying for the Italian Golden Visa are as follows:

1. Document collection and submission of application 30 days
2. Nulla Osta approval: Approximately 30 days
3. Obtaining Investor Visa from consulate 30-60 days
4. Entering Italy, making the investment and informing local authorities 30-60 days

How HLG Can Assist

Harvey Law Group (HLG) can provide assistance for the full Italy Investor Visa process, from selecting the most suitable investment option to preparing documentation, securing the Nulla Osta, and liaising with Italian authorities. Our team combines global immigration expertise with knowledge of Italian legal procedures, HLG ensures a smooth, compliant, and efficient application journey for our clients.

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Request a consultation with our legal experts for professional guidance.

Renewal and Long-Term Residency

The initial residence permit is issued for holders of the Italy Investor Visa for two years, and renewable for 3 year periods thereafter.

As explained above, the renewal requires a certificate of no impediment to the renewal of the residence permit (Nulla Ostra al Rinnovo) and providing up-to-date documentation verifying that the original qualifying investment has been maintained without any interruptions.

Any withdrawals, transfers, or failure to complete the investment within the prescribed timeline may result in the permit being revoked.

After five continuous years of residency in Italy, investors may be eligible to apply for an EU long-term residence permit (Permesso Di Soggiorno UE Per Soggiornanti Di Lungo Periodo). An absence from Italy exceeding six consecutive months or a total of ten months within five years will prevent the accumulation of the minimum residency period required to apply for the long-term residence permit, except in cases where the absence was due to mandatory military service or other serious and documented reasons.

The EU long-term residence permit is valid 10 years and subject to simple renewal application every 10 years. For minors, the permit duration is 5 years.

To be eligible for the Long Term Residency permit, applicants must meet additional integration and financial self-sufficiency requirements, including:

1. Maintain continuous residence in Italy for at least five years.
2. Being able to demonstrate stable and sufficient income to support themselves and any dependent family members without relying on public assistance. This requires having an income of around €7,000 (minimum income is increased by half for each additional dependent family member).
3. Have suitable accommodation.
4. Pass an Italian language test (A2 level) to demonstrate basic integration.
5. Have no serious criminal record or issues affecting public order or national security.

The long-term residence permit may be revoked if the holder remains outside the EU for 12 consecutive months or longer.

After ten years of uninterrupted continuous residency, applicants can apply for Italian citizenship through naturalization.

Benefits of the Italy Investor Visa

Holders of the Italy Investor Visa are eligible for the following benefits:

Freedom of movement within the Schengen Area

A key benefit of the Italy Golden Visa is the freedom of movement within the Schengen Area. Residency in a Schengen country typically grants visa-free travel across 29 nations (25 EU countries and 4 non-EU countries being Iceland, Norway, Switzerland and Liechtenstein).

No minimum stay requirement in Italy

Unlike many other residency programs, the Italy Investor Visa does not require any physical presence in Italy to maintain residency. However, if the applicant wishes to apply for permanent residency after 5 years or citizenship after 10 years, they must make sure to meet any minimum residency requirements, and should prepare to learn some Italian.

Access to Italy’s healthcare and education systems

Italian residency grants investors access to the country’s public healthcare system and a wide range of educational institutions, including state schools and universities.

Inclusion of family members as dependents

The main applicant can include their spouse and minor children (under 18). Adult children and parents who are dependent due to health conditions may also be eligible.

Exemption from the Integration Agreement obligations

Italian Investor Visa holders are not required to sign the Integration Agreement, which is a mandatory requirement for most other long-term visa types and involves language and civic integration commitments.

Tax Incentives for Investor Visa Holders

Flat‑Tax Regime on Foreign Income

New tax-resident individuals in Italy may choose to join a flat rate tax regime that will apply to all foreign-sourced income. By choosing this option, tax residents will be required to pay a fixed annual amount instead of the standard progressive rates of taxation.

Investors who choose this option will pay a €200,000 flat tax annually. Eligible family members can also be included in the scheme by paying an additional €25,000 per person annually.

This special tax regime is available for up to 15 years, with domestic income taxed separately at the standard rates. To qualify, the applicant must not have been a tax resident in Italy for at least 9 of the 10 years prior to relocating and must reside in Italy for more than half the year (at least 183 days).

Reporting and Wealth Tax Exemptions

Italian Golden Visa holders who opt for the flat-tax regime are exempt from declaring foreign held assets via RW forms, and are not subject to wealth taxes on foreign real estate (IVIE) or financial assets (IVAFE). Additionally, foreign inheritance and gift taxes do not apply under this regime.

Please note the inheritance tax exemption applies only to assets located in Italy and to transfers of foreign assets.

Southern/Central Italy special tax regime

A reduced tax rate of 7% applies to all foreign income, such as pensions, remote work earnings, and freelance income from overseas clients. This special reduced rate is available for a maximum of 10 years.

To be eligible, applicants must be residents in a qualifying municipality in Southern or Central Italy with fewer than 20,000 inhabitants. Eligible regions include Abruzzo, Molise, Campania, Puglia, Basilicata, Calabria, Sicily, and Sardinia in the south, as well as Lazio, Umbria, Marche, and parts of Tuscany in the center (excluding major cities like Rome and Florence).

Additional requirements include spending more than 183 days per year in Italy and not having been an Italian tax resident in the previous five years. Any income earned within Italy remains subject to the standard progressive tax rates, which can reach up to 43%.

Impatriati regime

Under this regime, income is taxed at ordinary rates, but a tax rebate of approximately 50–60% applies to taxable income up to EUR 600,000 for a period of five years. The incentive is designed to attract highly qualified professionals, either returning Italian nationals or successful individuals of any nationality.

To qualify, applicants must reside in Italy for more than 183 days per year and must not have been an Italian tax resident in the previous two years.

How does the Italy Investor Visa compare to other EU Golden Visas?

The Italy Investor Visa offers a competitive alternative to other EU Golden Visa programs, particularly those in Portugal and Greece.

A major advantage of the Italy Investor Visa is that the required investment only needs to be made after the visa is issued. Once granted, the investor has up to two years to enter Italy, at which point a two-year residence permit is issued. The qualifying investment must then be completed within three months of entry, offering investors considerable flexibility in planning their move.

Another key advantage is the lower minimum investment requirement, starting at €250,000 for innovative startups, compared to Portugal’s €500,000 minimum for eligible investment funds and Greece’s €250,000–€800,000 range for real estate.

Another advantage is that unlike Portugal’s Golden Visa program, which requires investors to spend a minimum of 7 days in the first year and 14 days per year thereafter, Italy requires no physical presence in Italy.

Processing times under the Italian Investor Visa are very fast with estimated 3 to 6 months processing time (sometimes even less). Investors are turning more and more to Italy for this reason, given that the Portugal Golden Visa program has experienced significant delays, with some applicants waiting months or even years due to the existing backlog.

Greece, while offering a real estate path with no stay requirement, has recently increased its minimum investment in popular areas, making it less accessible for entry-level investors.

While Italy requires ten years of actual residency before applicants can apply for citizenship (and B1 language level), Portugal offers eligibility for citizenship after merely five years of legal residency (and A2 language level). Greece on the other hand offers a pathway to citizenship through its Golden Visa program after seven years of continuous residency, provided the applicant also meets the language and integration requirements.

Overall, for those who wish to immigrate to italy from USA or from any other non EU Country, the Italy Investor Visa stands out for its investment flexibility, lower entry costs, fast processing, and minimal residency obligations, making it a strong choice for investors seeking a stable, EU-based residency option with long-term options.

Our Thoughts

The Italy Investor Visa program presents an attractive opportunity for non EU investors seeking long-term residency in Europe through investment. With minimum investments starting from €250,000, no minimum physical presence requirements, and visa free Schengen travel, the Italy Golden Visa offers an accessible and investor-friendly program in the EU.

Compared to other European options, Italy offers greater investment flexibility, faster processing times, and the ability to take advantage of Italy’s attractive special tax regime for new tax residents (if desired).

Investors are also eligible for permanent residency after five years, and Italian citizenship after ten years, provided they meet the necessary requirements.

Harvey Law Group (HLG) offers full service support for the Italy Investor Visa application process. From helping applicants to choose the appropriate investment option and obtaining the Nulla Osta(no-objection certificate), to coordinating with Italian authorities and managing all documentation requirements. With end-to-end guidance, Harvey Law Group ensures a smooth and well-managed application when applying for residency in Italy through the Investor Visa program.