Updated: Oct 18, 2022
Tips for Italy Investor Visa applicants
1. Before preparing the application for the Investor Visa for Italy, make sure your bank is willing to issue a comfort letter that meets the Italian Gov.t requirements The Ministry is quite strict in requiring the bank’s application to confirm, in addition, that funds are available and freely transferable, that specific checks under FATF rules have been carried out. The Ministry provides a sample of the comfort letter and only some minor changes are permitted.
2. The application can be submitted only after it has been “digitally “ signed by the applicant
The digital signature is the result of an IT procedure, called validation, which guarantees the authenticity, integrity, and non-rejection of electronic documents. The digital signature allows users to exchange documents online with full legal validity. The digital signature can be issued only by qualified trust service providers authorised by the Government that guarantee the identity of those who use a digital signature. We can assist our clients to obtain it.
3. The proposed investment must be indicated in the application and cannot be changed
The identification of the investment or in the case of the purchase of shares, the target company, is an essential feature of the application. Therefore, the target company must be indicated at the time of submission, otherwise, the application will be rejected.
4. Be ready to do the investment after the arrival in Italy
The proposed investment must be executed within 3 months from arrival in Italy. It will take some time for the selected bank or broker to carry out the due diligence on the investor before opening the account and accepting the transfer of the funds necessary to do the investment. It is advisable to contact a bank/broker before the planned arrival in Italy.
5. Can I bring my family?
Only the Investor can obtain a visa but his/her family (eg, spouse and minor children) can enter Italy and obtain a family permit. The family members will be allowed to enter Italy with no visa if they are citizens of countries that have signed a visa waiver agreement with Italy. Citizens of all other countries will need to obtain a tourist visa and they will be allowed to change their status and apply for a family permit after their entry.
Do you need a visa to travel to Schengen? you can check it here: https://ec.europa.eu/home-affairs/system/files/2020-09/visa_lists_en.pdf
6. Do I need to have accommodation (house, apartment, hotel, residence)?
Yes, this will be necessary to obtain the Police permit (it can be a rented or owned property)
7. How do I apply for investor permit renewal? Under what conditions?
The investor visa permit for stay is valid for two years. Close to the expiration date, it can be renewed for 3 years, provided that it is proven to the investor visa committee that the original investment has been maintained by sending a new nulla osta application through the Investor Visa for Italy online portal. There is no limit on the number of renewals of the permit.
8. Can I convert the investor permit of stay?
Yes, it is. The residence permit may be converted if the holder loses the requirements to maintain it. The conversion – which should be carried out by the police office (Questura) in charge – can be made either at the time of expiration of the permit or before that date, given that the foreign citizen meets the legal requirements for another type of residence permit (e.g. residence permit for self-employment).
9. Can I apply for permanent residency and citizenship?
Permanent residency can be applied for after 5 years but on condition of (i) registering as a resident at the City Hall (ii) passing a language test and (iii) having filed tax returns. Citizenship can be applied for after 10 years of residency.