Residence Visa Program for non-EU/EFTA nationals
Investment immigration is the process of depositing or investing a specific amount of capital into a pre-approved project of the country the applicant seeks residency in. Generally, the purpose of the applicant’s investment is to make a beneficial impact to the economy’s growth; however each jurisdiction establishes different requirements to satisfy in order to qualify for permanent residency.
Italy is a highly sought after location for foreign investors to apply for a permanent residency permit, which is mainly due to its stable economic environment and EU member status. Although Italy does incur relatively high living costs, the country makes up for that in a variety of ways. Italy boasts a highly effective political and legal infrastructure and is regarded as a top rated financial hub for business investment. The country enjoys a high standard of living and education, and health care is excellent in comparison to other EU member states. Italy is also strategically situated to enable strong European and International business relations.
European (EFTA, EEA) citizens have the right to reside and work in Italy without the requirement of a Visa or work permit. All Non-EU citizens intending to reside in Italy for a period of longer than 90 consecutive days require a ‘stay permit’. It is important that you apply for your residence permit within 8 days of arriving in Italy. The residence visa is valid for a period of 2 years and is renewable up to 90 days prior to the visa becoming expired.
The relevant permit to stay or ‘Permesso di Soggiorno’ is necessary where the individual is not employed in Italy but simply wishes to reside there. The applicant must consequently provide official documentation to demonstrate their sufficient funds to support their living costs while residing in Italy. The Permesso di Soggiorno is also applicable to all foreign entrepreneurs seeking to conduct their business activity or professional expertise there. All foreign entrepreneurs must provide relevant details as to what they intend to do while in Italy.