Investor Visa for Italy

Introduction

With the 2017 Budget Law, is introduced into the Consolidated Immigration Act, a visa dedicated to non-European citizens who intend to invest in Italy, either through philanthropic donations or in strategic sectors for competitiveness and development. his visa is called theinvestor visa for Italy.

Investments include those, amounting to at least 250,000.00 euros, made in innovative startups as defined by Decree Law No. 179 of 2012, also known as the Startup Act.

What the Investor Visa for Italy is

The investor visa for Italy is a visa that allows non-European citizens who intend to make certain types of investments in our country to enter Italy for a period of more than three months.

With specific reference to innovative starups, the investment must be equal to 250,000.00 euros.

Once investors arrive on the Italian national territory, they are issued a two-year residence permit.

This permit is renewable for additional three-year periods.

Requirements for applying for the investor visa for italy

In addition to the amount of investment, there are also other requirements for the investor if:

natural person: must have reached eighteen years of age;

legal person: the investment must be made by the person entitled to act on behalf of the company (the legal representative), who must have reached eighteen years of age.

The steps for obtaining the investor visa for Italy

The issuance of the visa and residence permit, is divided into three macro stages:

phase 1: the investor clearance and visa application;

phase 2: the residence permit and investment;

phase 3: the renewal of the residence permit.

Phase 1: the investor clearance and visa application

The first stage, aimed at obtaining the clearance, requires the submission of the application, which can be done in the dedicated section established at the portal of the Ministry of Enterprise and Made in Italy (Ministero delle Imprese e del Made in Italy MIMIT).

After the creation of the personal account, it is necessary to upload some documents, and, to sign the final declaration by digital signature.

This is followed by a compliance check and evaluation by the Investor Visa for Italy Committee, which communicates the outcome of the evaluation within thirty days of the application submission.

With this communication, the Committee, may approve the application, reject it or request additions, which the interested party must provide within thirty days.

From the moment of receipt of the clearance, the six-month period for the submission of the investor visa application to be made to the competent Italian diplomatic office in the applicant’s country of residence begins.

The visa can be used for entry into Italy within 2 years of issuance.

Step 2: The residence permit and investment

The residence permit must be applied for by the individual once he or she enters Italy, within 8 days of entry.

The application for the residence permit must be submitted to the Italian Questura.

Then it is possible to access the dedicated portal and communicate the additional information required.

The investment must then be made within 3 months from the date of entry into Italy and must be demonstrated by uploading the relevant documentation on the website.

In this case, strategic coordination with relevant professionals (such as lawyers, accountants and notaries) aimed at meeting deadlines is of paramount importance.

Once again, the documentation is submitted for approval by the committee, which may also request additions to be made within 30 days of the request.

Step 3: The renewal of the residence permit

The residence permit can be renewed for a period of three years.

The renewal application must be submitted within 60 days before the expiration of the permit following the issuance of a new clearance.

Basic conditions for renewal include maintaining the investment for as long as the previous permit was valid.

Again, all the documentation must be uploaded to the site, as with previous phases, is subject to approval by the Committee.

Exclusions

Particular attention should be paid to the exclusions, and thus to those individuals who, even if they meet the requirements, cannot obtain an investor visa for Italy.

The reference goes mainly to Russian and Belarusian citizens, including those holding dual non-EU passports, for whom the program is currently suspended.