Investor Visa for Italy

Italy's Investor Visa (Visto per Investitori), commonly known as the Italy Golden Visa, is a residence-by-investment programme that lets non-EU citizens reside in Italy by making a qualifying financial investment in the Italian economy. Launched in 2017, it sits outside Italy's annual immigration quota system (decreto flussi), so applications are not subject to numerical caps. The investor residence permit allows holders to work, run businesses, or engage in any lawful economic activity in Italy without restriction, making it well suited to high-net-worth individuals, entrepreneurs, and investors worldwide.

Applicants choose one of four qualifying investments:

• Innovative startup: €250,000 in a startup listed in the official innovative startup register maintained by the Italian Chambers of Commerce
• Corporate equity: €500,000 in an Italian company (S.p.A. or S.r.l.)
• Government securities: €2,000,000 in Italian government bonds (BTP, CCT, CTZ, or similar) with a residual maturity of at least 2 years
• Philanthropic donation: €1,000,000 to a project of public interest in culture, education, immigration management, scientific research, environmental protection, or heritage conservation

Real estate purchases do not qualify, and there is no "investment fund" route despite some third-party claims — the official portal lists only these four categories.

• Non-EU citizen of any nationality (applications are currently suspended for Russian and Belarusian citizens and for dual nationals holding a Russian or Belarusian passport)
• Commitment to make a qualifying investment in one of the four categories
• Proof of the lawful origin of the investment funds
• Health insurance covering emergency care and hospitalisation, valid for the Schengen area
• Criminal record certificate
• No specific educational or professional qualifications are required

For the Nulla Osta application (uploaded to the online portal):

• Valid passport (minimum 2 years validity, at least 2 blank pages)
• Curriculum vitae
• Proof of financial resources demonstrating the capacity to make the investment
• Criminal record certificate
• Documentation supporting the chosen investment category
• Electronically signed declaration

For the visa application at the consulate:

• Nulla Osta (downloaded from the portal)
• Valid passport
• Recent passport-size photograph
• Travel reservation
• Health insurance documentation

The initial investor visa and residence permit are valid for 2 years. The qualifying investment must be completed within 3 months of entry into Italy. Renewal applications are submitted through the Investor Visa portal at least 60 days before the current permit expires, and applicants must show the original investment has been maintained for the entire permit period. Renewed permits are valid for 3 years.

After 5 years of continuous legal residence, investors may apply for an EU Long-Term Residence Permit. After 10 years, they may apply for Italian citizenship by naturalisation, subject to integration requirements and Italian language proficiency at minimum B1 level.

Spouses, minor children, and dependent family members may accompany the investor. They receive residence permits valid for the same duration as the main applicant's permit, with no additional investment requirement. Each family member may independently opt into the flat-tax regime at an additional cost.

Investors who transfer their tax residence to Italy may opt for a substitute tax regime for new residents, replacing standard taxation on all foreign-sourced income with an annual lump-sum payment. The rate is €200,000 per year for those who transferred residence between August 2024 and December 2025, and €300,000 per year for new elections from January 2026. Family members joining the scheme pay an additional €25,000 per year (rising to €50,000 from 2026). The regime is optional and lasts up to 15 years.

Investors who do not opt for the flat-tax regime are subject to standard progressive IRPEF rates (23% to 43% plus surcharges) on worldwide income if tax-resident in Italy.

The application proceeds in three phases:

Phase 1 - Nulla Osta: The applicant creates an account on the Investor Visa for Italy portal, completes the online forms, uploads the required documents, and submits an electronically signed declaration. The inter-ministerial Investor Visa Committee evaluates the application within 30 days. If approved, a Nulla Osta becomes available for download and is valid for 6 months.

Phase 2 - Visa: The applicant presents the Nulla Osta at the competent Italian consulate and requests the investor visa. Since January 2025, in-person biometric enrolment (fingerprinting and digital photograph) is mandatory and mail-in applications are no longer accepted. After receiving the visa, the applicant has 2 years to enter Italy.

Phase 3 - Residence Permit: Within 8 days of arrival in Italy, the applicant applies for the investor residence permit at the local Questura. The qualifying investment must be completed within 3 months of entry, with proof of completion uploaded to the portal.

The Nulla Osta application is free. The Type D national visa fee is approximately €116, with additional fees for the residence permit on arrival. The overall process from initial application to residence permit typically takes 3 to 8 months.

The investor residence permit imposes no strict minimum stay requirement during its validity. However, absence from Italy for more than 6 consecutive months may affect eligibility for renewal, and extended absences can interrupt the continuity of legal residence required for the 10-year naturalisation period. The permit allows visa-free travel throughout the Schengen Area for up to 90 days in any 180-day period.