Italy offers the possibility for those who are economically able to support themselves without carrying out any work activity to move to Italy and take up residence there to enjoy their resources in the "Bel Paese." The residence permit for elective residence can be issued for 1 or 2 years and is renewable if the conditions for its issuance are maintained.

Who can apply for it?

Eligible to apply for a visa and permit for elective residence are those who can demonstrate:

i.   a passive income (i.e., not derived from employment) not less than, at least, approximately Euros 32,000.00/year, stable over time and consistent

ii.  to have the availability of housing in Italy (mainly owned or rented)

iii. to have no intention (and not to do so during the stay) of undertaking a work activity in Italy

iv. hold an insurance policy covering health expenses during the stay and repatriation of at least one year's duration and with minimum coverage of 30,000 Euros

The procedure in a nutshell

Once the necessary documents have been prepared to prove that the requirements are met, the application for a visa must be submitted directly to the relevant consulates/embassies in the applicants' foreign country of residence.

Consular authorities have full discretion on whether or not to issue a visa as well as for setting income amounts above the minimum set by law.

Once the visa has been obtained, upon entry into Italy the applicant must proceed within 8 days to send the postal kit to apply for the residence permit and, once photographed at the relevant Questura, may withdraw the residence permit.

Benefits of obtaining an elective residence visa

Holders of a residence permit for elective residence may, after 5 years of holding the permit and being resident in Italy, apply for an EU long-term residence permit and, upon reaching 10 years of residence in Italy, proceed to apply for Italian citizenship by residence.

If the holder of the permit for elective residence had substantial income, he or she could also decide to opt for the so-called flat tax regime, which is a privileged tax regime that allows, under certain conditions, to take advantage of an annual taxation of 100,000 Euros despite the total amount of income received by the person anywhere in the world.

Your Way to Italy: our assistance

Our team is available to provide support and assistance throughout the process! Contact us to book your first consultation with us and to start the process to obtain an elective residence visa and residence permit! #YourWaytoItaly 

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances