Italy introduced (with art 48 of Law no 232/2016) a new Visa procedure that allows entries and residence in Italy for non- EU citizens who commit to a significant investment in an Italian based business. A new Article 26 (II)
has been added to the Immigration Code. This provides for a new kind of visa for individuals who intend to make a significant investment in some Italian areas considered to be economically and socially strategic.
After their entry to Italy, holders of this visa will be able to obtain a Residence Permit (“permesso di soggiorno”) for Investors, lasting two years and renewable for further terms of three years.
The Italian Government has issued guidelines and operational instructions for requesting this new type of Italian Visa.
The Visa can be issued to non-EU citizens resident outside Italy who intend to make:
- an investment of at least 2 million Euros in securities (bonds) issued by the Italian Government;
- an investment of at least 1 million Euros in assets of an Italian company or 500.000 Euro in an innovative Italian startup;
The above-mentioned investments must be maintained for a minimum period of two years. The visa is also available to those who make
- a philanthropic donation of at least 1 million Euros to
- support a project or an initiative of public interest;
Individuals who wish to obtain this type of Visa must:
- Demonstrate that they effective possess the necessary amounts for the investment or the donation;
- Commit to actually making these investments;
- Demonstrate they have sufficient financial resources to support themselves and any family members who may be accompanying them or who arrive later (and the law provide s facilitated visas and stay permits for them to) during their stay in Italy
The new rules were also accompanied by a favorable tax regime allowing individuals who have not lived in Italy in any 9 of the past 10 tax years to pay a flat tax of Euro 100,000 in lieue of normal Italian tax at marginal rates.
You can read more about the flat rate regime and how to apply here: