The Investor Visa (“Golden Visa”)

The Italian Investor Visa (often called a Golden Visa) offers a pathway for non-EU citizens seeking long-term residency in Italy through investment.

By making a qualifying investment, applicants and their immediate family members can live and work in Italy, enjoy free movement within the Schengen Area, and build a life in Italy — all without an automatic obligation to change tax residency.

Among Italy’s many visa pathways, the Investor Visa stands out for its flexibility, stability, and long-term advantages. Unlike most Italian visas, which come with strict income requirements, work limitations, or renewal uncertainty, the Investor Visa offers a more adaptable structure for individuals and families planning a life in Italy.

➔ No annual quotas
➔ Longer initial validity
➔ Freedom to live and work in Italy
➔ No minimum physical stay requirement
➔ Clear pathway to long-term residency

To qualify for Italy’s Investor Visa, applicants must commit to one of the following investment options:

● €250,000 invested in an innovative Italian startup
● €500,000 invested in an existing Italian company
● €1,000,000 philanthropic donation supporting public-interest projects
(such as culture, education, research, or the arts)
● €2,000,000 invested in Italian government bonds

The investment does not need to be completed before applying, but it must be finalized within three months of entering Italy. Investments cannot be combined and must fall entirely within one category.

Applicants must also submit an anti-money-laundering declaration confirming the lawful origin of funds. While not mandatory, transferring funds to an Italian bank account is often recommended to simplify the process and demonstrate transparency.

One of the main advantages of the Investor Visa is the ability to live in Italy long-term, beyond the standard 90-day limit allowed for non-EU citizens.
Key benefits include:

● A two-year visa, longer than most Italian visas
● Eligibility to renew for an additional three years, provided requirements are met
● The ability to travel freely within the Schengen Area
● Access to Italy’s public healthcare system
● A pathway toward permanent residency and, eventually, citizenship

After five years of legal residency, applicants may apply for permanent residency. Long-term residency can also open the door to Italian citizenship, depending on individual circumstances.

In addition to meeting the investment requirement, applicants must submit the following documentation:

● A valid passport, with at least 2 years and 3 months of remaining validity at the time of application
● A passport-style photograph, issued within the last six months
● A curriculum vitae (CV/Resume)
● Criminal background checks
● Documentation related to the chosen investment, including:

○ An anti–money laundering letter issued by the bank where the funds are held, compliant with the specific standards required by the Italian committee responsible for issuing the nulla osta
○ Evidence of the lawful origin of funds used for the investment

All documentation is reviewed by the Investor Visa Committee. If the application is approved, the Committee issues an official authorization known as a nulla osta.

Please note that additional due-diligence checks may be conducted on both the applicant and the investment. The qualifying investment must be maintained for the entire validity of the visa and throughout any subsequent renewals.

A nulla osta is an official authorization issued by the Italian government that functions as a pre-approval for the Investor Visa.

Before a visa can be issued, the Italian Investor Visa Committee reviews the applicant’s documentation, background, and proposed investment. If the Committee is satisfied that all requirements have been met, it issues a nulla osta, confirming that there are no legal or regulatory obstacles to granting the visa.

In practical terms, the nulla osta signals that the Italian government has already approved the application in principle.

Once issued, the nulla osta is electronically transmitted to the Italian consulate that has jurisdiction over the applicant’s place of residence. The applicant then completes the final visa application step at that consulate, which issues the Investor Visa based on this prior approval.

Because the substantive review occurs at the nulla osta stage, the consular phase is generally procedural, provided the applicant’s circumstances have not changed.

The overall timeline for the Investor Visa varies from case to case, largely due to the pre-application phase, which often takes the most time.

Many of the required documents may need to be apostilled, translated, and/or certified, which can extend preparation time. Because each applicant’s financial structure and documentation are different, it is not possible to assign a fixed timeline to this stage. In practice, the pre-application phase can take as little as two to three months, or up to a year, depending on the complexity of the case and how quickly documents are gathered.

Nulla Osta Review Phase

Once all documentation is ready, the application is submitted to the Investor Visa Committee for review.

➔ The committee’s review period is officially up to 30 days
➔ In practice, the process may take slightly longer depending on the time of year
➔ Requests for clarification or additional documentation are common and may extend the timeline

A realistic expectation for approval at this stage is approximately 1.5 to 2 months.

After Approval

Once the nulla osta is issued:

➔ The nulla osta is electronically transmitted to the Italian consulate with jurisdiction over the applicant
➔ The applicant then has six months to apply for the Investor Visa at their local Italian consulate
(This flexibility is a major advantage of the Investor Visa, allowing applicants to proceed at their own pace.)
➔ After attending the consular appointment and receiving the visa, the applicant has the full two-year validity of the visa to enter Italy

Upon entering Italy with the Investor Visa, the visa is considered executed. At that point:

➔ The applicant must apply for a permesso di soggiorno (residence permit) within eight days of arrival at the local Questura
➔ The residence permit is issued for two years and may be renewed in line with the visa

➔ After five years of legal residency, Investor Visa holders may apply for permanent residency

➔ After ten years, applicants may be eligible for Italian citizenship by naturalization

In certain cases, timelines may be shorter. For example, recent legislative changes allow individuals with Italian parents or grandparents — who may not qualify for citizenship by descent — to apply for citizenship after two years of residency in Italy. For EU citizens, the standard requirement is four years.

Eligibility for citizenship depends on personal history and should always be evaluated on a case-by-case basis.