Applying for the Italian Elective Residence Visa: About the income requirements

Apr 05, 2023

What is an Italian Elective Residence Visa?

The elective residence visa (residenza elettiva) is regulated by inter-ministerial decree 850/2011, attachment A, paragraph 13. In order to obtain such a visa, the regulation requires that the applicant can demonstrate wide and autonomous economic resources, regular and stable, likely to remain steady in the future.

Such resources:

  • must come from ownership of conspicuous revenues 
  • must come from ownership of properties
  • must come from ownership of stable economic-commercial activities
  • or anyway, other sources different from subordinate work
  • must not be lower than about EUR 2580 per person per month

Is the minimum required amount of about EUR 2580 per person per month enough for getting the visa?

The required monthly income is not enough per se but is evaluated in the context of the general situation. It is considered the minimum economic requirement to start with. It is to be noted that this type of visa is aimed at people with a high availability of assets and economic resources.

What are the other key requirements? 

Another key requirement is owning a property or a lease contract for an apartment or a house in Italy, and demonstrating the intention to relocate permanently. Declaration of hospitality from third parties, Airbnb, serviced apartments, or even boats are not considered sufficient.

How to demonstrate the revenues? Is work performed outside Italy taken into consideration?

The revenues are to be demonstrated not only by showing the last 12 months’ bank statements, duly stamped and signed by the bank (or with a QR code) but also by providing the tax returns the reason for this is that the consulate wants to make sure that the economic resources are not deriving from work and thus are available independently from the actual and daily work activity. Resources deriving from work, either subordinate or autonomous, even if performed and taxed outside Italy, cannot be taken into account.

How are revenues generated from properties assessed?

Revenues generated from ownership of properties must be demonstrated by long-term lease agreements, signed well in advance, and likely to remain steady in the future. In any case, the sole revenues generated from properties are by no means enough for a positive evaluation.

Other tips

Consulates may ask that the documentation submitted (such as contracts etc) are duly translated and legalised.

Consulate from sensitive countries may also ask to demonstrate that the financial resources are readily available and transferable in Italy.

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