Italian Investor Visa (Golden Visa)

Residence by Investment

The Golden Visa, officially known as the Investor Visa, is a residence-by-investment programme for non-EU nationals who wish to establish residence in Italy by making a qualifying investment or philanthropic donation.

The programme offers several qualifying investment options, allowing applicants to invest in innovative Italian start-ups, listed or unlisted Italian companies, Italian government securities, or to make a qualifying philanthropic donation in support of projects of public interest. In return, successful applicants receive a renewable Italian residence permit together with visa-free travel throughout the Schengen Area.

Unlike many other European residence-by-investment programmes, the Golden Visa does not include a real estate investment option. Instead, it follows an approval-first, investment-second model. Applicants receive government approval before transferring any funds, significantly reducing financial risk.

Qualifying Investments

Since 2020, the Investor Visa programme has offered reduced investment thresholds for investments in innovative start-ups and Italian companies, making it one of Europe’s most accessible residence-by-investment programmes.

Applicants may qualify through one of the following investment routes:

• €250,000 investment in the equity of an innovative Italian start-up;
• €500,000 investment in the equity of an Italian company (listed or unlisted);
• €2,000,000 investment in securities issued by the Italian Government;
• €1,000,000 philanthropic donation in support of a project of public interest in the fields of culture, education, scientific research, the preservation of cultural or natural heritage, or migration management.

The qualifying investment or donation must be completed within the prescribed time limits and maintained throughout the validity of the residence permit.

Eligible Investments

Qualifying investments include:

• Equity investments in innovative Italian start-ups;
• Equity investments in Italian companies, whether publicly listed or privately held;
• Securities issued by the Italian Government;
• Philanthropic donations supporting approved public-interest projects in the fields of culture, education, scientific research, the preservation of cultural or natural heritage, or migration management.

Family Members

The Golden Visa also extends to close family members.

Spouses and dependent children under the age of 18 may be included in the same application without any additional investment requirement. Children who obtain residence before turning 18 may continue to renew their residence permits after reaching adulthood, provided the statutory requirements continue to be met.

Application Process

The application process is designed to provide certainty before any investment is made.

1. Application for the Nulla Osta

The applicant submits an online application to the Investor Visa Committee, selecting the preferred investment option and providing evidence that the investment funds derive from legitimate and traceable sources.

2. Government Approval

The Investor Visa Committee generally issues its decision within approximately 30 days of receiving a complete application.

3. Investor Visa

Once the Nulla Osta has been issued, the applicant applies for an Investor Visa at the competent Italian Consulate. Following the issuance of the visa, the applicant may travel to Italy.

4. Residence Permit

Within eight days of entering Italy, the investor must apply for an Investor Residence Permit (Permesso di Soggiorno per Investitori).

5. Completion of the Investment

The declared investment or donation must be completed within three months of entering Italy.

In most cases, the entire process—from submitting the application to arriving in Italy—takes approximately three to four months.

Duration of the Residence Permit

The initial Investor Residence Permit is issued for two years.

Provided the qualifying investment or donation is maintained, the permit may be renewed for successive three-year periods.

One of the principal advantages of the Golden Visa is that there is no minimum physical residence requirement to maintain or renew the residence permit. Investors therefore enjoy considerable flexibility and may divide their time between Italy and other countries while preserving their residence status.

Conditions for Renewal

To renew the residence permit, investors must:

• complete the declared investment or donation within three months of entering Italy;
• maintain the qualifying investment or donation throughout the validity of the residence permit;
• demonstrate, at each renewal, that the investment or donation continues to satisfy the statutory requirements.

Flat Tax Regime

Many investors who relocate to Italy under the Golden Visa programme may also be eligible to benefit from Italy’s Flat Tax Regime for new residents.

The Flat Tax Regime is separate from the Golden Visa and is not granted automatically. Investors who become Italian tax residents may elect to apply for the regime, provided they satisfy the statutory eligibility requirements, including not having been tax resident in Italy for at least nine of the previous ten tax years.

Under the regime, qualifying individuals pay a fixed annual substitute tax on foreign-source income, rather than being subject to Italy’s ordinary progressive income tax rates. As of 2026, the substitute tax is €300,000 per year, with an additional €50,000 for each qualifying family member who elects to join the regime.

For internationally mobile entrepreneurs, investors and business owners, the combination of the Golden Visa and the Flat Tax Regime can make Italy an attractive destination for both residence and long-term wealth planning.

As eligibility depends on each investor’s personal circumstances, professional tax advice should always be obtained before making an election.

Permanent Residence and Citizenship

The Golden Visa is not a citizenship-by-investment programme.

However, investors who establish legal residence in Italy may become eligible for:

• Permanent residence after five years of continuous legal residence; and
• Italian citizenship by naturalisation after ten years of legal residence, subject to satisfying the statutory requirements in force at the time of application.

Eligibility

The Investor Visa programme was introduced in 2017 and has been available throughout the year ever since, without annual quotas.

In accordance with current EU sanctions, applications submitted by Russian and Belarusian nationals, including dual nationals holding either nationality, have been suspended since July 2023.

Why Choose the Golden Visa?

The Golden Visa is one of Europe’s most attractive residence-by-investment programmes because it offers:

• Competitive investment thresholds introduced in 2020, including investments in innovative start-ups, Italian companies and government securities;
• Government approval before any investment is made, significantly reducing financial risk;
• No minimum physical residence requirement to maintain or renew the residence permit;
• Visa-free travel throughout the Schengen Area for up to 90 days in any 180-day period;
• The opportunity to access Italy’s Flat Tax Regime, subject to satisfying the applicable statutory requirements;
• A clear pathway to permanent residence and, ultimately, Italian citizenship through ordinary naturalisation.

The Golden Visa can be applied for online through the dedicated portal investorvisa.mise.gov.it. With_Papers can help you navigate the application process. 

Contact us here to schedule a free consultation with one of our Italian residency lawyers and we will walk you through how to apply for a Golden Visa in Italy.