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Italy Golden Visa program: Full guide
With its rich history and amazing cuisine, Italy is a dream destination for many people. But what if you could live there?
Italy's Golden Visa program gives foreign investors a residence permit in return for a contribution to the Italian economy. The minimum investment starts at 250,000 EUR.¹
In this article, we'll explain how the investor visa for Italy works and introduce you to Wise. You can use it to easily send large amounts to Italy with low fees and no exchange rate markups.
What is the Italy Golden Visa program?
The Italian Golden Visa is a residence-by-investment scheme. It attracts foreign capital by offering non-EU citizens the right to live, work and study in Italy if they make a qualifying financial investment.
There are a few investment options to choose from, but unlike many other European Golden Visa programs, the Italy investor visa doesn't accept purchasing real estate as a qualifying investment.
Instead, you can invest in startups, businesses, government bonds or philanthropy.¹
| Italy Golden Visa at a glance |
|---|
| Initial investment: 250,000 to 2 million EUR¹ Processing time: 4 months¹ Path to citizenship: Possible after 10 years¹ Duration: 2 years initially, renewable for 3 more years (after which you can apply for permanent residency)¹ |
Benefits of an Italy Golden Visa
Many people want to apply for an Italian investor visa for the following reasons:
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Live, work, and study in Italy: You can settle anywhere you want in Italy and enjoy its high standard of living
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Travel freely in the Schengen Area: As an Italian resident, you get visa-free access to EU countries
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No residency requirement: Some Golden Visa programs require investors to live in the country for a certain number of days every year, but that's not the case with Italy
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Path to citizenship after 10 years: This is not guaranteed, but you may be able to eventually obtain Italian citizenship through naturalization¹
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Family inclusion: You can include your spouse, children and dependent parents on your Italy investor visa program application
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Special tax regime option: If you become a tax resident, you can opt for a 200,000 EUR annual flat tax to potentially save on taxes on income outside Italy for 15 years¹
Overall, getting a Golden Visa in Italy can open many doors, especially if you don't have a strong passport.
Who’s eligible for an Italy Golden Visa?
Not everyone qualifies for the Italy Golden Visa program, even if you have the necessary capital. Italy Golden Visa applicants must comply with the following requirements.¹
| Category | Requirement |
|---|---|
| Age | You must be over 18 years old |
| Capital | You need to have sufficient capital to make the required investment (at least 250,000 EUR)¹ |
| Income | You must be able to prove that your income comes from legal sources |
| Commitment | You need to make a written commitment to investing in the Italian economy |
| Clean record | You should have no criminal records or ongoing prosecutions |
| Health insurance | You must have valid health insurance coverage |
Family members can also be included in your application. Here's who qualifies:
- Spouse: Must be officially married to you
- Children: Minor children are automatically eligible. For adult children, there's no age limit, but they must be unmarried, have no children of their own and be financially dependent on you
- Parents: There's no age limit for parents, but they must be dependent on you
The Italian Golden Visa program takes these requirements seriously.
| 🚨 A big concern with EU Golden Visa programs, in general, is that powerful people will use them for money laundering and other illegal reasons, so the Italian government runs extensive background checks on all applicants. |
|---|
Italy Golden Visa requirements
There are 4 main ways to get Italy residence by investment: innovative startup investment, business investment, philanthropic donation and government bonds.
Each option has its own minimum investment amount.
| Investment type | Minimum amount¹ |
|---|---|
| Innovative startup | 250,000 EUR |
| Business investment | 500,000 EUR |
| Philanthropic donation | 1,000,000 EUR |
| Government bonds | 2,000,000 EUR |
| 🔍 Wondering how much that would cost in USD? Check out this handy conversion calculator: |
|---|
Here's a breakdown of what each of the Italy Golden Visa requirements means.
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Innovative startup investment: Invest in stocks or shares of an Italian innovative startup. You'll need to provide a business plan when you apply
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Business investment: Invest in listed or unlisted shares of an Italian company. The company must be active and have filed at least one balance sheet
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Philanthropic donation: Donate to a project of public interest in culture, education, immigration management, scientific research or heritage preservation
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Government bonds: This option has the highest threshold but the lowest risk. Invest in Italian government bonds (CCT, CCTeu, CTZ, BTP, BTP ITALIA) with at least two years of maturity
You must maintain your investment for the duration of your visa.
And you can only choose one investment option. You can't combine different options to reach the minimum required investment for Italian residency.
How much is an Italy Golden Visa
When thinking about the Italy Golden Visa price, make sure to factor in not just the minimum investment amount, but also additional fees that come with the application process.
The good news is that they're pretty low when compared with the main investment.
For example, for the business investment option, which requires a minimum investment of 500,000 EUR, you'll have to pay the following fees:¹
- Processing fee: 116 EUR
- Issuance of a residence permit: 112 EUR per family member
Many applicants also hire specialized agencies to help with the application process.
This adds to the cost but makes it much easier to successfully navigate the requirements of the Italian investor visa program.
Buying property abroad? Send money the hassle-free way with Wise
Now that we covered all the basic costs of an Italy Golden Visa, the only question left is: how to send money to pay for your property overseas?
Wise offers you a quick, secure and transparent way of sending money to Italy. You get the mid-market exchange rate for your payments and see how much it’s charged for the transfer before sending the money from your bank.
With the Wise Account you can also hold 40+ currencies, spend money in 150+ countries, and receive like a local in 9 different currencies.
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
Getting an Italy Golden Visa: step by step
The exact steps for getting an Italy investor visa depend on your specific circumstances and if you're working with an agency.
But typically, you can expect to follow this process:
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Choose your investment option: Decide if you want to invest in an innovative startup, business, project of public interest or government bonds
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Prepare your documents: If you're working with an agency, they will help you do this
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Submit your application: Apply for the visa at the Italian embassy or consulate in your country
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Make your investment: Once your application is approved, you have 3 months from your entry into Italy to make your investment²
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Get your residence permit: After making your investment, you can apply for your investor residence permit
Here's the list of documents you'll need to prepare:¹
- A copy of your passport
- A CV outlining your main academic and professional experience
- Documents confirming you have the funds for the investment
- A written commitment to investing in the Italian economy
- A description of your planned investment and proof of consent from the recipients
- Confirmation of income over 8,500 EUR
- A Nulla Osta certificate
| ✈️ Learn about what you should pack for Italy and how to open a bank account once you're there in our full guides. |
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Italy Golden Visa program timeline
Here are some important timelines for the Italy investment visa:
- Processing time: The initial application process typically takes approximately 4 months¹
- Visa duration: The Golden Visa is initially granted for 2 years¹
- Renewal: After the first 2 years, you can renew for 3 more years (as long as you maintain your investment in the country's economy)¹
You don't have to live in Italy unless you want to eventually become a permanent resident or apply for citizenship. More on that later.
Italy Golden Visa renewals
As long as you maintain your investment, Italy Golden Visa renewal is pretty simple.
After 2 years, you can renew your visa for an additional 3 years. After 5 years, you become eligible for permanent residency - but this requires you to actually move to Italy if you haven't done so yet.²
After 10 years, you may be eligible to apply for Italian citizenship through naturalization. This is not an automatic process and comes with its own set of requirements.¹
Italy Golden Visa FAQs
Can I get residency in Italy if I buy a property?
No, simply buying property in Italy doesn't automatically give you residency rights. Many EU countries see real estate as a qualifying Golden Visa investment, but Italy doesn't.
You need to invest in an innovative startup, established business, government bonds or philanthropic donations to get a Golden Visa in Italy. The minimum investment starts at 250,000 EUR for the innovative startup option.¹
How much do you need to invest in Italy to get citizenship?
There's no citizenship-by-investment program in Italy.
Italy's Golden Visa program is a residency-by-investment scheme. It doesn't directly lead to citizenship, but it can put you on a path toward it.
In this case, citizenship isn't guaranteed, but you may be able to apply for naturalization after living in Italy for 10 years.¹ Keep in mind that you'll also need to meet other requirements, such as language proficiency and integration into Italian society.
The Italy Golden Visa minimum investment starts at 250,00 EUR and can go as high as 2,000,000 EUR depending on what you're investing in.¹
How long can an American stay in Italy if they own property?
You don't get any special residency rights if you own property in Italy. As a US citizen, you're subject to the standard Schengen Area rules. You can stay in Italy (and other Schengen countries) for up to 90 days within any 180 days without a visa.³
If you want to stay longer, you'll need to apply for an appropriate visa or residence permit, such as a Golden Visa.
What are the pitfalls of buying property in Italy?
Buying property in Italy can be a great investment, but it doesn't give you automatic residency rights. So, you'll only be able to spend 90 days within any 180 days living in your Italian property, unless you can apply for residency in another way.
If you plan to rent out your property, be prepared for a hefty 21% tax on your rental income.⁴ You can learn more about renting in Italy here.
Italy's Golden Visa program allows non-EU citizens to become Italian residents in approximately 4 months.¹ If you like the idea of living in Italy and have the minimum required capital, it can be a great option for you.
Italy is one of the few countries in the EU that doesn't count real estate purchases as a qualifying investment for a Golden Visa. Instead, you have to invest in innovative startups, businesses, government bonds or philanthropy.
If you need to send money to Italy, you can easily do it with Wise. There are no currency exchange markups, and over half of Wise transfers get there in under 20 seconds.*
*Transaction speed claimed depends on individual circumstances and may not be available for all transactions
Sources
- Immigrant Invest - Italy Golden Visa
- Henley & Partners - Italy.
- US Department of State - Italy international travel information
- Italy House Hunting - Rental income tax in Italy
Sources checked 10.21.2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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