Italy launched its new investor visa scheme pursuant to Law no. 232 of 11 December 2016, known as the “2017 Budget Law”. This new type of entry visa for foreign nationals who intend to make an investment or donation, as intended pursuant to art. 26-bis, par. 1, of leg. decree 286/1998 (TUI). The investor visa is not subject to the annual limits on entries (“quotas”) referred to in art. 3, par. 4, TUI.
Italy offers 2-year visa for non-EU citizens who choose to invest in strategic assets for Italy’s economy and society.
Government bonds
Foreign investors can buy Italian Government Bonds for issued by €2 million the Italian Republic Treasury Bonds (CCT/CCTeu), Zero Coupon Treasury Bonds (CTZ), Long-term Treasury Bonds (BTP), Long-Term Treasury Bonds index-linked to European inflation and BTP Italy, with residual maturity period not exceeding two years. After the maturity period, the entire investment is returned back to investors without interest.
Other investment options
There are other cheaper options to apply for investor visa in Italy, starting from €500,000 euros
- Italian companies €1,000,000: Instruments representing capital in companies incorporated and operating in Italy Stakes or shares in limited companies, incorporated and resident in Italy pursuant to article 73 of the TUIR, approved by Italian Presidential Decree no. 917 of 22 December 1986 and subsequent amendments.
- Startup companies €1,000,000: Instruments representing capital of innovative startups Stakes or shares in innovative startups, i.e. the companies referred to in art. 25, par. 2, of decree-law no. 179 of 18 October 2012, converted with amendments by law no. 221 of 17 December 2012 and subsequent amendments. The official list of innovative startups, which is updated every week and accessible free of charge, is available on the dedicated website of the Italian Chambers of Commerce system: startup.registroimprese.it
- Philanthropic donation €500,000: Donation supporting a public-interest project in the sectors of culture, education, management of immigration, scientific research, recovery of cultural and landscape heritage.
It is not possible for investors to combine investments directed at different parties, nor different types of investment, which individually total less than the minimum threshold for each of the aforementioned cases.
The two-year residence permit, renewable for further three-year periods (leg. decree 286/1998, art. 26-bis, par. 5) and issued to investor visa holders after they arrive in Italy.
Special tax regime
Investor visa holder can opt for a special tax regime for new residents. Pursuant to the new art. 24-bis of the Income Tax Laws Consolidation Act (“TUIR”, DPR 917/1986), individuals who transfer their tax residence to Italy may opt to pay an annual substitute tax of € 100,000 on income produced abroad, if they have not been tax resident in Italy for at least nine taxation periods over the previous ten years. If this option is extended to family members, the annual substitute tax is € 25,000 per family member. The maximum duration of the scheme is 15 years. See the page on the Italian Revenue Agency website for more information.
How to Apply
In order to obtain your investor visa you first need a Nulla Osta (certificate of no impediment) to be released online 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 Investor Visa for Italy Committee
The Investor Visa for Italy Committee (the “Committee”) is the inter-institutional body responsible for checking that visa applications satisfy the conditions for issue. It is formed of representatives of seven (or eight in certain cases) institutions responsible for the migratory, financial and business aspects of the investment and donation project. It is chaired by the Director General for Industrial Policy, Competitiveness and Small and Medium Enterprises of the Italian Ministry of Economic Development (MISE).
Read more in the official website: https://investorvisa.mise.gov.it/index.php/en/
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