WHAT SHOULD YOU KNOW BEFORE RETIRING TO ITALY? AND GOLDEN VISA PROCESS - 3 part

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​After our first two articles, we have come to the last in the series about retirement in Italy. We are discussing visas, the different permits to obtain, and the Golden Visa Process.

ELECTIVE RESIDENCE VISA IN ITALY - VALIDITY PERIOD

Those who want to retire to Italy can obtain long-term residence visas, which enable them to live there for more than 90 days; however, just like an ordinary residence permit, this Visa has a validity of 5 years. The pass can be renewed if the visa holders decide to remain here. After living for ten years in Italy, these can apply for citizenship. If you want to immigrate to Italy and have questions about retirement options, our specialists are at your service for detailed answers.


THE GOLDEN VISA PROCESS ANOTHER OPTION FOR THOSE WHO TO RETIRE IN ITALY 
Another possibility for those who want to retire to Italy is the Golden Visa Program which can be accessed by those willing to make a significant contribution to the local economy. This scheme is more flexible when it comes to procedures. However, the financial requirements must meet the investment criteria of the program. There are several investment possibilities available under the Golden Visa Program, and these are:

• business investment in a start-up company where the minimum amount required is EUR 500,000;
• EUR 1 million in a business venture which meets specific requirements imposed by the Italian government;
• EUR 1 million in a unique project that has a significant contribution to the Italian economy;
• the purchase of government-approved bonds worth at least EUR 2 million.

Under these residence schemes, foreigners can also have the possibility of applying for citizenship. These options generally interest foreigners with a high net worth value who want to retire to Italy or relocate here for various purposes. 
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THE GOLDEN VIA PROGRAM IN ITALY IN 2023

 The main program under which foreign citizens can obtain a permanent residence permit in Italy while investing in the local economy is the Investor Visa Scheme. This program is also sometimes called the Golden Visa in Italy and other similar names that usually refer to immigration by investment. 
Apart from being dedicated to non-EU citizens, the Investor Visa Program targets high-net-worth individuals who can significantly contribute to the Italian economy and community. This is why those interested in immigrating to Italy through the Golden Visa for Italy need to make specific investments.
Our immigration lawyers in Italy can offer more information on the Investor Visa Scheme. We are experienced in the procedures for golden visas in Italy and can also help foreign businesspersons to apply for entrepreneur visas in Italy.
The golden Visa is one of the best routes to Italian citizenship.


The primary way of obtaining Italian residency is by investing in the local economy. 
There are various ways through which foreign citizens can obtain the Golden Visa for Italy. The Italian immigration policies provide advantageous conditions for all non-EU citizens who want to relocate here, as EU citizens have more detailed requirements to comply with. To balance these simple requirements applicable to EU citizens with the stricter ones imposed on non-EU citizens, the authorities have created these so-called residence schemes for those looking to immigrate to Italy.


The main routes for obtaining a residence permit by investment in Italy are the Investor Visa Program (golden Visa for Italy) and the StartUp Program, further divided into the Italia StartUp Visa and the Italia StartUp Hub. Apart from these, there are cheaper options for those who can immigrate to Italy based on the entrepreneur visa and the self-employment residence permit.


Each visa and program type has its advantages and provides various benefits. Our immigration lawyers in Italy also remind you about the elective residence permit available for those who want to retire to Italy.


You can obtain detailed information as well as ex-pat support if you want to move to Italy based on one of the residence schemes mentioned above from our immigration lawyers, who are specialized in the procedures for golden visas for Italy.
Conditions for obtaining Italian residence permit by investment in 2023
Those who want to immigrate to Italy by investing in the economy need to comply with the following requirements:

• they must be at least 18 years old at the time they start the application procedure;
• they must have clean criminal records and be in a good state of health which must be documented;
• they must invest at least half a million euros in a start-up company which activates in an innovative field or;
• invest at least one million euros in an Italian company which meets specific criteria imposed by the government or;
• invest at least one million euros in a project which has a positive effect on the Italian economy or;
• support at least 2 million euros by purchasing bonds approved and issued by the Italian government.

As seen above, the minimum amount of money under which the Golden Visa for Italy can be obtained is half a million euros, and the funds must be backed by evidence that they were obtained legally.


FAQ ABOUT RETIRING IN ITALY


Is there a minimum or maximum age under which an elective visa can be obtained?The minimum age for applying for an elective residence permit is 18. However, there is no maximum age limit for this type of Visa. Please feel free to request more details on this subject from our team of immigration lawyers in Italy.
Can I work in Italy if I retire here?You cannot, as the elective residence visa is not meant for those who want to work in Italy. If you want to retire to Italy and arrive here for this sole purpose, you will not be able to apply for a job in this country through which you will receive a monthly income. 
Can I buy a property if I retire in Italy?Yes, you can purchase one or more properties if you retire to Italy. Also, you can live in one of them and rent the other, thus earning a passive income. The law on owning property in Italy as a foreigner does not impose restrictions, especially for citizens who retire to Italy from other EU member states.  
How long does it take to obtain a visa if I want to retire to Italy?The processing of the elective residence visa can last a minimum of 3 months and a maximum of 6 months. 

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