Investor Visa in Italy: The 10 Most Frequently Asked Questions

In recent years, Italy has become an increasingly attractive destination not only for students, professionals, and digital nomads, but also for high-net-worth foreign investors. Among the various long-term relocation options, the investor visa — often referred to as the “golden visa” — represents one of the most advantageous solutions for non-EU citizens wishing to live in Italy by making an investment in the Italian economy.

Below, we answer the 10 most frequently asked questions about the Italian investor visa.

1. What is the investor visa in Italy?

The investor visa is a special permit intended for non-European Union citizens who wish to make a significant investment in Italy. This visa allows individuals to legally reside in the country for extended periods and subsequently gain access to permanent residency and, in some cases, Italian citizenship.

2. What are the advantages of the Italian “golden visa”?

One of the main advantages is the possibility of living in Italy beyond the standard 90-day limit applicable to non-EU citizens within the Schengen Area. The initial visa is valid for two years and may be renewed for an additional three years, provided that the required conditions continue to be met.

In addition, the visa holder may:

• travel freely within the Schengen Area;

• access the Italian healthcare system;

• live and work in Italy;

• apply for a long-term EU residence permit after five years.

3. Which investments qualify for the visa?

Italian law provides several investment options:

• at least €2 million in Italian government bonds;

• at least €1 million as a philanthropic donation to sectors of public interest, such as culture, scientific research, education, or protection of artistic heritage;

• at least €500,000 in an existing Italian company or venture capital fund;

• at least €250,000 in an innovative Italian startup.

The investment must fall within a single category and cannot be divided among multiple options.

4. Is it necessary to make the investment before applying for the visa?

No. The investment does not need to be completed before submitting the visa application. However, the applicant must formally undertake to complete the investment within three months of entering Italy.

It is nevertheless advisable to prepare in advance the banking and financial documentation necessary to demonstrate the availability of the funds.

5. Which documents are required?

The main required documents include:

• a valid passport;

• a recent photograph;

• a curriculum vitae;

• documentation relating to the investment;

• criminal record certificates;

• a declaration regarding the lawful origin of the investment funds.

The competent authorities also carry out further checks regarding the source of the capital and the applicant’s profile.

6. What is the “nulla osta”?

The nulla osta is a preliminary authorization issued by the Italian Investor Visa Committee. This document certifies that there are no impediments to the issuance of the visa.

The evaluation procedure generally takes around 30 days, although in some cases additional documentation may be requested.

7. How long does it take to obtain the visa?

After the nulla osta has been issued, the applicant has six months to submit the visa application at the competent Italian consulate in their country of residence.

Once the visa has been issued and the applicant has entered Italy, they must apply for the residence permit within eight days of arrival.

8. How long does the residence permit last?

The initial residence permit linked to the investor visa is valid for two years. It may subsequently be renewed for an additional three years and thereafter, provided that:

• the investment is maintained;

• all legal requirements continue to be satisfied.

Within three months of entering Italy, the visa holder must also demonstrate that the declared investment has actually been completed.

9. Is it possible to obtain permanent residency or Italian citizenship?

Yes. After five years of continuous legal residence in Italy, it is possible to apply for a long-term EU residence permit, provided that the applicant meets the relevant requirements.

Subsequently, after ten years of residence, holders of investor visas and permits may apply for Italian citizenship by naturalization. In certain specific cases, such as for individuals of Italian descent, the timeframe may be reduced under applicable legislation (for example, two years of residence for descendants of Italian citizens).

10. Is the investor visa subject to annual quotas?

No. Unlike other types of work visas, the investor visa is not subject to the so-called decreto flussi or to annual numerical limits. This means that applications may be submitted at any time during the year.

Conclusion

The investor visa represents an attractive solution for non-EU citizens wishing to relocate permanently to Italy through a significant investment. Thanks to the duration of the residence permit, freedom of movement within the Schengen Area, the opportunity to benefit from favorable tax regimes (“flat tax,” “impatriate regime,” or “pensioners’ tax”), and the possibility of obtaining a long-term residence permit or Italian citizenship in the future, the Italian program remains one of the most competitive options in Europe.

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The content of this article is intended to provide general information on the topic. For doubts or specific cases, it is advisable to seek specialized legal advice tailored to your particular situation.

Article written by Alessia Ajelli, Managing Associate of LCA Studio Legale, Italian lawyer specialized on Italian immigration and citizenship law.