Italian Elective Residence Visa vs Investor Visa for Italy: Which is the best option for you?

Dec 30, 2022

1. BASIC REQUIREMENTS

Elective Residence Visa

• Min. € 31,000 annual passive income (+ 20% if travelling with spouse; and + 5% each child (under 18 year))
• Accommodation (owned or 1 year registered lease)

Investor Visa

• The funds for the investment shall be : 
  • 250,000 eur in an innovative start-up company; or
  • 500,000 in Italian limited company or sicav; or
  • 1,000,000 in philanthropic donation; or
  • 2,000,000 in Italian gov. bonds
• Criminal record of the last 10 years showing no pending charges
• The Funds shall be available and transferable to Italy 

2. Procedure

Elective Residence Visa

• Competent Authority: The Italian Ministry For Foreign Affairs and International Cooperation
• The visa shall be applied at the Italian consulate (up to 90 days from the application)
• A 1-year multiple entries Schengen visa will be issued
• The permit of stay application with Post Office within 8 days from arrival in Italy

Investor Visa

• Competent Authorities: The Italian Ministry of Economic Development & The Ministry of Internal Affairs
• A No-impediment certificate (an online application) shall be applied at the Ministry of Economic Development’s website.
• The visa shall be applied at the Italian consulate
• A 2-Years multiple- entries Schengen visa will be issued
• It has a priority access to the fulfilments to be carried out once entered to Italy (It has a priority access to the fulfilments to be carried out once entered to Italy (i.e. Permit of stay application within 8 days from arrival and the collection of the Italian permit of stay)
• Investment execution to be proven within 3 months from first entry in Italy or permit will be revoked.

3. Can I renew my Italian Permit of Stay?

Elective Residence Visa

Yes, it is possible to renew your ERV permit of Stay, however, it is mandatory to demonstrate the requirements listed above (in point 1)

Investor Visa
Yes, it is possible to renew your Investor permit of Stay, however, the investment shall be maintained.

4. Working in Italy

Elective Residence Visa
The Italian ERV does not allow any kind of working activities in Italy. (Including remote working)

Investor Visa

Holders of the permit of stay for investors are allowed to work in Italy.

5. Living in Italy

Elective Residence Visa
Holders of Elective Residence permit of stay are subject to residence and integration agreement obligations

Investor Visa
Holders of Italian permit of stay for investor are not obliged to spend minimum amount of time in Italy

6. Family permit

Elective Residence Visa
Dependents (spouse/ children under 18) can join applying for family permit. The main applicant and the dependents are subject to residence and integration agreement obligations.

Investor Visa
Dependents can join (spouse/ children under 18) applying for family permit. Only the dependents are subject to residence and integration agreement obligations.

Author of this article: Louise Danielle Machetti