Italian Visa and Residence Permit for Investors
Once the investor has entered Italy with the Investor Visa, the next step is to apply for the Italian Residence Permit for Investors (Permesso di Soggiorno per Investitori).
Distinctions Between a Visa and a Residence Permit
- Visa: The visa is an entry document that allows the investor to enter Italy legally within its validity. It is issued by Italian consulates or embassies abroad and is typically valid for a defined duration. Investors are granted a two-year multiple entry visa. After its expiration, the visa does not need to be renewed. It will be replaced by the residence permit card.
- Italian Residence Permit: The residence permit is a residency document that allows the investor to legally reside in Italy. It is issued in the size of a credit card by the Italian police and it is renewable, as substitute of the visa. For investors, the residence permit is valid for two years and is renewable for subsequent three-year periods. The validity of the permit of stay starts from the date of application to the Police.
Application Process for the Italian Residence Permit for Investors
- Entry into Italy: Enter Italy with the Italian Investor Visa.
- Submit Permit Application: Within 8 days from entry, apply for the Permit of Stay for Investors at the local Police immigration office (Questura). The accommodation documents will determine the competent police office for the application. Submit the required documentation, including the documents that were submitted for the nulla osta and visa application. On the same day, the investor will haveto provide biometric data (fingerprints and photographs).
- Permit Issuance: Upon approval, the residence permit for Investors is issued, granting legal residency in Italy. The processing time for approval may vary depending on each Police department, however Investors are granted priority by law.
IMPORTANT: within 3 months from entry date, the investor must execute the investment (which has been approved by the Minsitry) and upload proving documents in the Ministry’s portal.
Not as straightforward as it looks:
The Italian Investor visa was only introduced in January 2017 and, due to its nature and restrictive requirements for the capital investments, there have not been many applications for this kind of permit since. Not all police stations are aware of and accept to follow the regulations on prioritization of investors’ applications. Some police officers tend to request for additional documents that generally do not apply to this particular permit category.
The immigration process of family members of investors can also be particularly challenging, especially given the recent introduction of the regulations concerning the families of investor visa holders.
How we can help you: Thanks to our experience, we can liaise with the competent offices to make sure that the regulations are correctly followed and, at the same time, easing the communication between the investor and the officers.
Benefits of the Italian Residence Permit for Investors:
- Residency Rights: right to settle and work in Italy, even if Investor Visa has no requirements for minimum stay in Italy
- Travel to other Schengen countries: freedom to travel within the Schengen Area without additional visas (max. 90 days any 180 days period)
- No Residency liens: The Permit of Stay for Investors is the only permit of stay that has no requirements for minimum stay in Italy. Accordingly, if the Investor spends only limited time in Italy and does not meet the criteria for residency (and tax) registration in an Italian Municipality.
- Family Reunification: Eligible family members can join the investor in Italy under family reunification provisions.
- Pathway to permanent residency and Citizenship: After five years of continued legal residency (also tax residency), investors may be eligible to apply for permanent residency. After ten years of continuous residency (to be defined by the date of first residency registration in an Italian municipality), investors may also be eligible to apply for Citizenship. For more details please see our dedicated page: https://www.mazzeschi.it/italian-citizenship-by-naturalization/
Check out our series of 10 articles about “Navigating the Investor Visa for Italy”
- Part 1: Top Tips for Success
- Part 2: Obtaining a Digital Signature for your Investor Visa Application in Italy
- Part 3: Filing the online application
- Part 4: Applying for the Investor Visa at the Italian Consulate
- Part 5: Italian Investor Visa holders and Visa Options for the Family Members
- Part 6: Italy Investor Visa and the things you should take into account before entering Italy
- Part 7: Foreigners opening a bank account in Italy
- Part 8: Italian Investor Visa and the Italian Permit of Stay for Investors (this article)
- Part 9: Italian Investor Visa and establishing the Residency in Italy (coming soon)
- Part 10: Extending your permit of stay for investor visa (coming soon)
