Italian Golden Visa- Your First Step Towards A Dream Life In Italy

If you have a dream of living in Italy, you aren’t alone. The country beckons thousands of Americans who want to immigrate to Europe and experience the rich culture and heritage of this part of the world. Italians are friendly people, and the country offers the best healthcare and education for its residents. The weather is pleasant and financial opportunities for professionals and entrepreneurs are big. Everything about the country makes it an ideal immigration destination for young families and retirees.

Another great thing about Italian immigration is that you have multiple options to move and live like the country is your own. If you have ancestral roots, you can explore the alternative of citizenship by descent. Citizenship by marriage is an option if you marry a local. You can become a citizen by naturalization if you have already been there for a decade. But what if you are eligible for none of these routes? You still have the option to move there with a Golden Visa that eventually leads you towards citizenship. Let us explain the basics of the program in detail. 

Italian Golden Visa- Secure residency by investment

If you can afford to invest a considerable sum of money in Italy, the Golden Visa program is an ideal option for you. It works as a fast-track route, and you get things done sooner than you expect. You can start living in Italy right after you get residency status and even bring your family along. If you plan to live here for the long haul, you can extend the visa until you become eligible for citizenship by naturalization. Before you start pursuing the process, it is vital to understand the investment requirements to have your finances sorted in the first place. Here are the investment options for the Italian Golden Visa.

  • Startups- A stake worth € 250,000 in an innovative startup gets you all set for acquiring a Golden Visa. You can check the official site of the Italian Chambers of Commerce to access an updated list of innovative startups free of cost.
  • Companies- You can also invest € 500,000 in a local company incorporated and operating in the country to get started with the process. The investment can be in the form of shares or stakes in limited companies.
  • Philanthropic donation- A donation worth € 1,000,000 in an Italian cultural Institution or an entity with philanthropic goals is another investment to get a Golden Visa. The organization may work in the fields of education, scientific research, or immigration management.
  • Government bonds- You may buy government bonds of value € 2,000,000 to qualify for the program. These include Italian Republic Treasury Bonds, Long-term Treasury Bonds, Zero Coupon Treasury Bonds, and BTP Italy.

Apart from fulfilling these investment norms, you must be over the age of 18 years to apply. Further, a good state of health and clear criminal records are essential to go ahead with the application. 

Benefits of Italian Golden Visa 

Now that you understand the magnitude of investment required to get the Golden Visa, you will want to know its benefits. Is it worth spending millions? Do the benefits surpass the costs? Let us pick the topic and explain why you have a valid reason to invest in Italy to secure this visa option. 

Travel visa-free in the EU- Once you have the visa, you are a part of the EU. You are free to travel across European countries. You need not have a visa to explore this part of the world, which makes a big perk for business and leisure travelers.

Bring your family members along- A Golden Visa can actually be a smart choice if you plan to immigrate with a family. You can bring along your spouse, children, and dependent parents without extra expense or formalities. They will enjoy the same rights and privileges that are available to the main applicant. 

Start a business in Italy- Once you come to the country with the visa, you have the freedom to start a business here. You will have the opportunities and rights just like those of other Italians and EU citizens.

Tax benefits- As a high net worth individual, you can secure potential tax benefits with this visa option. The Flax Tax Lump Sum Regime is favorable for taxpayers. You need to pay €100,000 per year as a fixed amount of taxes, no matter what income you have. 

Free national health care- You can access free national healthcare by registering for the Public National Health Care service in Italy. With this, you get a personal family doctor, specialist tests and visits, and hospital visits almost free or at a nominal fee.

Subsequent residency and citizenship- The Italian Golden Visa holders are eligible to apply for a long-term residence permit after five years of legal stay in the country. After ten years, you can apply for citizenship by naturalization. 

Understanding the Italian Golden Visa process 

The next aspect is to understand the process of procuring the Golden Visa. Like the other routes, this one also has a set of steps and documentation requirements to get through. You can click here for a detailed guide on the process, but we have a short explanation here to make it easy to understand. Although it is best to get your facts right from a citizenship expert, this short guide can help you get a fair idea about how things work.

  • Nulla Osta application- Before applying for an investor visa, you will require a nulla osta (certificate of no-objection) from the Investor Visa Committee Secretariat. You can apply online by completing some forms on the official website. You will also have to scan the required documents and submit them electronically to the same site. Download the Final Declaration and re-submit it after sign it electronically. The authorities will review your documents and assess the application. They may ask for additional documents or approve them to provide the decision within thirty days. The process is fast and free, so you need not worry much. 
  • Investor visa application- After you get the nulla osta, you can apply for an investor visa within six months. It requires submission of the hard copy of the certificate along with additional documents at the local Italian Embassy or Consulate. The additional documents include your passport, proof of legitimate funds for investment, proof of consent from the recipient, and a declaration of commitment for investment once you get the visa. You will also need to provide proof of Italian accommodation and income to support your family. The Italian Embassy or Consulate grants the investor visa with two-year validity once they are satisfied with the documents.
  • Formalities after arrival- The final step is to get an Italian Investor Visa Residence Permit after landing in Italy with the investor visa. You have to apply for it at the local Questura (Police Headquarters) with your ID proofs and photographs. The permit is valid for two years. At this stage, you have to invest or donate the funds within three months after applying for the Residence Permit. Your permit will be revoked if you fail to do so. You have to maintain the investment throughout the time in Italy and even for renewal of the permit after two years.

 

After the completion of the first term, you can renew for another three years.  Following the first five years, you are eligible for a long-term residency. Subsequently, you can apply for citizenship by naturalization after completing ten years in the country. The Golden Visa program serves as a stepping stone to citizenship and gives you the opportunity to spend a lifetime in this incredible country. 

The value of specialized Golden Visa lawyers 

Even as the Golden Visa process is relatively simple and speedy, you cannot expect to move ahead on your own. It makes sense to collaborate with specialized Golden Visa lawyers to show you the way. Here are the benefits of having them to show you the way:

  • They offer the right experience and understanding of the process. They can help you with everything, right from choosing the apt investment opportunity to ensuring that you tie-up with a legal company or organization.
  • Experts can help you with relevant documentation, which is the trickiest part of the journey. Missing out on a single document can delay the process or even lead to rejection. 
  • They can also guide you about the subsequent process for visa renewal and application for citizenship by naturalization. You can seek guidance about the complex visa laws, timelines, expiry dates, and more.

Spending on specialized services is worthwhile as you have assurance and peace of mind about the process being on track. Seasoned lawyers can even expedite the process by doing everything right and on time. If you want the best start in Italy and a comfortable transition to citizenship, choose an expert who can help you with the entire journey. Things will be a lot faster and easier for you. 

Rylie Holt