Italy Investor Visa : Things you should know before entering Italy

May 14, 2024

Understanding the Italy Investor Visa : Crucial Insights for Applicants

After obtaining the Italy Investor Visa (also know as Italy Golden Visa) on the passport, investors will have two years of multiple-entry visa validity to travel to Italy and they shall start with the residence permit application process. This visa offers a pathway to residency and, ultimately, citizenship. However, there are some key considerations that prospective investors should make before entering Italy.

Timing and Financial Considerations when applying for the Italy investor visa

For the Italy Investor Visa program, right after entering and applying for the permit to the police (which happens within 8 days from arrival), the investor will have three months to invest a significant sum – as committed in the nulla osta application – for two years, which is the validity of the residence permit card. Therefore, it is essential to conduct thorough planning and assessment.  

The key point is to start looking into Italian banks before coming to Italy or (even better) starting the nulla osta application. The investment will have to be made and proved within three months from the entry date in Italy, and it must be deposited in an Italian banking institution. Contacting an Italian bank in advance will ensure you receive advice in matters of 

  • Opening a bank account for foreigners: Familiarize yourself with the costs, timing, and specific requirements. We will be back on this in our following article.  
  • Investment Options and Size: Ensure that the chosen investment not only meets the minimum financial threshold set by the Italian government but also your preferences on potential returns and risks.

Finding an accommodation

Securing suitable accommodation is an essential aspect for those who intend to settle permanently in Italy. They are a few different options for accommodation 

  • Renting: Renting a property is a popular choice for newcomers to Italy, offering flexibility and ease of relocation, catering to diverse preferences and budgets. 
  • Buying: Purchasing property in Italy can be an attractive long-term investment for visa holders and Italy boasts a diverse range of real estate opportunities.
  • Serviced Apartments: Serviced apartments provide the convenience of hotel amenities combined with the comforts of home and are Ideal for short-term stays or for those in need of temporary accommodation while searching for a permanent residence.

Finding the perfect accommodation in Italy is not easy! It requires careful consideration and research. This is why it is important to engage with local real estate agents who will guide you in the choice of location, and supervise legal procedures, negotiations, and property inspection. 

Expect delays during Holidays and Summertime

Traveling to Italy to apply for a residence permit enjoy holidays and visit summer tourist destinations in Italy sounds like a win-win, but it is important to consider that during festive periods and summertime Italian public offices significantly slow down their work pace as many are leaving the office to take time off. 

This will affect all practices, from scheduling an appointment with the police to apply for the residence permit to the processing of the permit as well as retrieving documents from the bank to prove the investment. 

Registering as a resident in Italy and its tax implications

Timing is important also for those Investors who are relocating permanently to Italy and intend to register with the local Town Hall (Comune, Ufficio Anagrafe) to benefit from special tax regimes.

Registration is indeed necessary for formalities in Italy such as accessing national healthcare services, importing goods duty-free, purchasing and registering a car, etc., but it is not possible until the residence permit has been issued by the police (approximately 30- 60 days from the application to the police, which happens within 8 days from arrival). The processing time to receive the residence permit can be extended depending on the workload of the police.

Some investors are also attracted to move to Italy to access the Lump-Sum Tax Regime for High-Net-Worth Individuals. In this case, it is essential to seek advice from tax consultants to carefully plan the timing for their move to Italy under the investor visa program to make sure to match the deadline to transfer the residency. 

Accessing Healthcare Services

Investors have the option to register for the Italian National Health Service (NHS) by paying an annual contribution of no less than 2,000 euros. To register with INHS, the investor will need:

  • Permit of stay (or receipt of application/renewal of the permit of stay)
  • Identity document
  • Tax code
  • Self-certification of residence in an Italian municipality or declaration of actual residence. 

It is important to consider if INHS registration or private insurance is best for the investor’s needs. 

The Italy investor visa offers a pathway to residency and, ultimately, citizenship for those who meet the specified requirements. We hope that by taking into account the key factors outlined above, prospective investors can start their Italian journey with more confidence and excitement.

Check out our series of 10 articles about “Navigating the Investor Visa for Italy”

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