The concept of a second passport is gaining popularity in the US, and thousands of Americans apply for them every year. Italy is among the most sought-after dual citizenship destinations as it offers the best climate, lifestyle, and financial prospects. The country has one of the best healthcare systems in the EU, and the educational system is exceptional too. The business environment is favorable, while there is no shortage of professional opportunities. Simply speaking, moving to Italy is a great idea for entrepreneurs, professionals, families, and retirees.
Another benefit of choosing Italy as your immigration destination is you can explore several options to relocate here. Citizenship by descent, marriage, and naturalization are the best routes, and you can pick one according to your eligibility. But you need not give up hope if you do not qualify for either of these routes. You can choose another country, such as France or Portugal, or you can immigrate with an Investor Visa and eventually get citizenship. Here you can find a detailed explanation on Bersani Law Firm’s website before exploring this visa option. Let us explain some facts about the visa to help you get started with the process.
Know Your Investment Options
An investor visa requires you to invest money in a country, making it a shortcut if you do not have Italian roots nor intend to marry a local. You may settle here by naturalization through the investor visa, but only after following the required timelines. It is crucial to know your investment options and invest at the right places to be eligible for the visa. A non-EU citizen needs to make a single investment into either of the following to secure an investor visa:
- An innovative local startup- €250,000
- A local company incorporated and operating in Italy- €500,000
- A philanthropic donation to a project of public interest in areas such as education, scientific research, culture, heritage, or immigration management- €1 million
- A Government Bond by the Italian Republic- €2 million
You have to make the entire investment in a single entity and hold it for a two-year visa period. If you want to renew the visa subsequently, you will have to retain the investment as long as you stay in the country. Apart from funding, you need to follow more eligibility norms. An applicant must be over 18 years of age and have a clean criminal record to be eligible. You will have to validate that the financial assets you want to invest in Italy are liquid, in your name, and obtained legally.
Understand The Process
Once you are sure that you can procure funds for investment, you can go ahead with the process. The good thing about the Italian investor visa is that you have to deposit the funds only after you get the visa. Until then, you only need to give a declaration committing to invest in the country. The three-step process is pretty straightforward, but it makes sense to collaborate with an expert to show you the way. Here are the steps you will have to follow to get your investor visa.
Step #1- Obtain a Nulla Osta
You will have to start by obtaining a nulla osta, a certificate of no impediment given by the Investors Committee for Italy. It is a quick process, and you get the certificate within just 30 days of filing the application. Additionally, it is online and free, making it even more convenient. You have to complete some forms online and attach the scanned copies of the required documents. Here is a list of the ones you have to provide:
- A valid passport for identification
- A CV
- A certificate as proof of legal funds you plan to invest in Italy
- A police clearance showing clean records
- A description of the investment route
- A declaration of intention to invest
- A declaration of the Italian municipality you want to settle in
These documents can be in Italian or English, so you need not worry about official translations or apostilles. Once you share them along with an electronic signature, the Investor Visa Committee will evaluate your application and check the documents. They will give you the nulla osta within 30 days if everything is in place.
Step #2- Get the investor visa
The next step entails application for the actual investor visa. You have to apply within six months after obtaining the nulla osta so that you do not miss out on the validity period. Like other routes, you can apply at the nearest Italian embassy or consulate. Here is a list of documents you will have to provide;
- A copy of nulla osta
- Your valid passport
- Proof of current residence
- A passport-size picture
- Proof of Italian accommodation (you can show a confirmed hotel booking)
- Proof of income from the last fiscal year
You will have to validate that you have funds to support yourself and your family, with approximately €8,500 per person per year. After verification, you will get your visa and can fly to Italy right away.
Step #3- Obtain the residence permit
When you land in Italy with an investor visa, you will have to apply for a two-year residence permit at your local police station. Ensure that you do it within business eight days and deposit the committed investment amount within three months. If you do not invest within this period, your visa will be canceled right away. You can apply for visa renewal before expiry, provided you are ready to retain the original investment. The subsequent renewal is valid for three years, after which you can get a permanent residence permit. Once you complete a decade in Italy, you can apply for citizenship by naturalization and stay here for good. But it requires a good understanding of immigration laws, and only an expert can guide you.
While an Italian investor visa is a great opportunity to live and work in Italy, you need to follow the rules and process to get it. The best way to obtain it is by hiring an expert with proven experience in investor visa and citizenship cases. They can help you assess your eligibility, pick the right investment option, and complete the process. Eventually, they will also show the way to apply through naturalization and obtain Italian citizenship. There isn’t a better way to complete the process seamlessly and on time.