What is Investor Visa for Italy?
It is a 2-year visa for non-EU citizens who choose to invest in strategic assets for Italy’s economy and society.
The law of December 11th, 2016 n. 232, known as “Budget Law 2017” introduced (paragraph 1, art.148) a new Visa procedurethat allows entries and stays in Italy for non-EU citizens wishing to invest in Italy.
Article 26-bis called “Entry and Stay for Investors” has been added to Unified Text for Immigration and it states a new Visa typology related to individuals who intend to make significant investments in some Italian areas economically and socially strategic.
STEP 1 – FROM THE “NULLA OSTA” TO THE VISA
In order to obtain the investor Visa, you first need a Nulla Osta (certificate of no impediment) to be released by the Investor Visa for Italy Committee (IV4I). Afterwards, you can go to the Italian representation in your country of residence to apply for a 2-year investor Visa.
The Visa is issued to non-EU citizens residing in third countries who intend to carry out:
- an investment of at least 2 million Euros in securities 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 (these mentioned investments must to be guaranteed for a minimum period of two years);
- a philanthropic donation of at least 1 million Euros to support a project or an initiative of public interest.
STEP 2 – THE RESIDENCE PERMIT FOR INVESTMENT
Once you are in Italy with your entry Visa, you have 8 days to apply for a2-year permit of stay. You are required to make your investment or donation within three months from the date of your arrival in Italy in order to get the residence permit.
The Residence Permit can be revoked if the foreigner does not carry out the promised investment within three months since entering to Italy or if it is revoked before the expiry of the period.
The holders of the Residence Permit for investment will be authorized to:
- move freely within the Schengen Area for a maximum period of 90 days every 180 days;
- after five years of regular residence in Italy, they can apply for a long-term Residence Permit;
- after ten years of residence, they can apply for the Italian citizenship.
Studio RBM provides for assistance to all non-EU citizens who intend to invest in Italy alongside all procedures to get the Investor VISA and, then, the residence permit for investment. In detail, we:
- first analyze all requirementsto get the Investor VISA and the residence permit for investment pursuant to the Italian Legislative decree no. 286/1998 (Unified Text for Immigration);
- review and draft all necessary documents and guide the investor during the application for getting the Nulla Osta(certificate of no impediment) from Italian Ministry of Economic Development;
- manage investor’s relationships withItalian representation abroadto request the investor Visa;
- manage investor’s relationships withItalian local Police officeto request the residence permit for investment;
- review and draft all necessary documents to prove the investment or donation declared at the time of application;
- provide for assistance in the application for renewing the investor residence permit.
Are you interested in learning more? First step is easy: get in touch with our professionals.
Avv. Stefano Rossi