The Italian Golden Visa: An Exhaustive Guide
If you’re looking to relocate to Italy and enjoy its beautiful landscapes, culture, and history, you may consider getting an Italian Golden Visa.
The Italian Golden Visa is a program that grants a residency permit to non-EU citizens who invest in Italy. Applicants who invest in specific sectors of the Italian economy receive a visa that allows them and their families to move, work, study, and live in Italy for up to two years.
In this article, we’ll cover everything you need to know about the Italian Golden Visa, including its benefits, requirements, application process, costs, and timeline.
Benefits of the Italian Golden Visa
The Italian Golden Visa offers several advantages for foreigners looking to relocate to Italy, including:
- Residency permit: The main advantage of the Italian Golden Visa is the ability to obtain a residency permit in Italy, which grants you the right to live, work and study in Italy for up to two years. The visa can be extended for an additional three years.
- Fast processing time: The Italian Golden Visa has a relatively fast processing time, typically taking about four to six weeks to obtain your residency permit.
- No minimum time limit in Italy: Unlike other residency permits, there is no minimum stay requirement in Italy to maintain the Golden Visa. This means you can maintain your residency and travel freely without concerns of losing it.
- No language requirements: The Italian Golden Visa doesn’t require you to pass a language test.
- Family benefits: Your spouse and children under 18 years old can be included in the visa application, and they will be granted a residency permit with the same length and conditions as yours.
- Access to the EU market: Holding an Italian Golden Visa grants investors access to the European market, with opportunities to invest and work in other EU countries without additional bureaucratic procedures.
Requirements for the Italian Golden Visa
To be eligible for the Italian Golden Visa, you will need to satisfy some requirements. These requirements include:
- Investment: Candidates must invest at least €1 million in an Italian private company or public company’s equity or €2 million Investment Funds, Real Estate Investment Trusts, or Government Bonds.
- Maintain the investment: The investment must continue for the entire duration of the visa.
- Clean criminal record: Applicants must have a clean criminal record.
- Health insurance: Applicants must have health insurance coverage for their stay in Italy.
Application process for the Italian Golden Visa
The application process for the Italian Golden Visa involves the following steps:
- Choose an investment: Candidates must choose an investment option that meets the visa requirements.
- Obtain the necessary documentation: You will need to provide essential documents, such as proof of the investment made, criminal record certificate of the applicant, a declaration of no pending criminal procedure, health insurance and a translated and legalized passport.
- Apply for the visa: You must submit your application to the Italian Embassy or Consulate in your home country or the ‘Sportello Unico per l’Immigrazione’ to apply for the Golden Visa.
- Attend your appointment: You will then have to attend an interview with the Italian consulate or embassy and submit your biometric data (fingerprints and photograph).
- Receive your visa: If your application is successful, you will receive your Golden Visa within 30-40 days.
Costs for the Italian Golden Visa
The cost of obtaining an Italian Golden Visa varies, and it depends on some factors, such as:
- The Italian location where you submitted your application.
- The type of investment you make.
- The number of members in the family included in the application.
Generally, applicants can expect to pay between €400 to €1,000.
Timeline for the Italian Golden Visa
The timeline for obtaining the Italian Golden Visa depends on several factors. Usually, the process takes around four to six weeks to obtain residency.
FAQs about the Italian Golden Visa
1. Can I work in Italy after obtaining the Golden Visa?
Yes, Golden Visa holders can work as employees or start their businesses in Italy.
2. Can I include my family in the visa application?
Yes, the visa application can include your spouse and children under 18 years old.
3. Do I have to live in Italy to maintain my Golden Visa?
There is no minimum stay requirement to maintain your Golden Visa permit.
4. Can I apply for a romantic partner or unmarried partner?
No, the Golden Visa can only be issued to family members>
5. What happens if my investment fails?
You must maintain your investment throughout the Golden Visa program’s duration to keep your visa. Failure to maintain the investment can result in the visa’s revocation.
The Italian Golden Visa is an excellent opportunity to live, work, study, and invest in Italy. However, investing the required amount can be challenging and may require professional advice. If you intend to apply for the Italian Golden Visa, it is advisable to seek professional guidance from immigration agents, lawyers, or financial advisers who can help you navigate the complex procedures.