Italy is a country located in Southern Europe, known for its rich history, art, culture, and culinary traditions. he country has made significant contributions to Western civilization, particularly during the Roman Empire era. Italy is celebrated for its historic cities, breathtaking landscapes, and its influence on art, architecture, literature, and music.
Italy occupies the southern part of Europe, with the Italian Peninsula stretching into the Mediterranean Sea. It shares land borders with several neighboring countries, including France, Switzerland, Austria, and Slovenia.
Size and population:
Italy covers an area of roughly 301,340 square kilometers (116,350 square miles)
and boasts a population of approximately 60-61 million people, making it one of Europe's most densely
Italy adheres to a civil law legal system, which relies on written laws and statutes. The nation's legal code has been shaped by Roman law and the Napoleonic Code. Italy's legal framework encompasses various branches, encompassing civil law, criminal law, administrative law, and constitutional law.
Italy maintains a well-established banking system, with a mix of domestic and international banks operating within its borders. The banking sector is a vital component of the Italian economy, offering a wide array of financial services to individuals, businesses, and industries. Italian banks provide services including retail banking, investment banking, wealth management, and corporate banking.
Residency in Italy
As a globally recognized tourist destination with major cities including Milan, Rome, and Venice, Italy offers investors access to a strong, well-connected EU market. Here are some reasons why having Italian residency can be advantageous:
Schengen Area Access:
Italy is a member of the Schengen Area, which allows residents to travel freely within the 26 European countries that are part of the agreement. This means that with an Italian residency permit, you can easily explore other Schengen countries for business or leisure purposes without the need for additional visas.
Path to citizenship:
After residing in Italy for 10 years you gain the right to apply for citizenship. This can grant you the rights and benefits of being an EU citizen, including the ability to live and work in any EU country.
High Quality of Life:
Italy offers a high quality of life with its rich cultural heritage, historic cities, beautiful landscapes, and renowned cuisine. The country's diverse regions provide a wide range of lifestyle options, from cosmopolitan cities to picturesque countryside.
Italy has a universal healthcare system that provides residents with access to medical care. This can be especially appealing for individuals seeking quality healthcare services.
Business and Investment:
Italy has a diverse economy with opportunities in various sectors. Obtaining residency can potentially open doors for business ventures, investment opportunities, and access to the European market.
If you have family members, such as a spouse or children, obtaining Italian residency may provide opportunities for them to join you and enjoy the benefits as well.
1. Investor Visa Program – Under the Investor Visa Program, satisfy one of the following three requirements:
- A minimum of EUR 2 million in Italian government bonds
- A minimum of EUR 500,000 in Italian shares (EUR 250,000 for innovative start-ups)
- A minimum non-refundable donation of EUR 1 million in projects of public interest in Italy
The investment needs to be maintained during the validity of the visa. A spouse, children, and dependent parents of the main applicant may also request a visa without additional investment.
The visa is granted for two years and is renewable for a further three-year period, provided that the investment is maintained. It is expected that the process of obtaining the visa will take 90–120 days from the date of application. The investment must be made within three months of entry into the country. To obtain the visa under the Investor Visa Program, investors must purchase or rent residential real estate in Italy following approval.
2. Elective Residence Program – Individuals prove their stable annual income at a certain quantity from abroad, maintained for the validity of the visa.
Under the Elective Residence Program, applicants must demonstrate a stable income and have residential real estate following approval. Permanent residence is possible after five years, provided the investor has relocated to Italy.
There is no minimum number of days of physical presence in Italy required.