Italy
Last updated on August 19th, 2022 at 09:10 am
Italy
Wealth Visa
Italy's elective residence visa is a rentier program allowing temporary residency in the country for non-EU nationals. It's an annual resident permit that needs to be renewed every year, although it can lead to permanent residency in Italy after five years. Citizenship requires 10 years of living in the country or only three years if you have Italian ancestry. The visa application process is very fast and you only need to show that you possess enough wealth to support yourself in Italy. The elective residence visa does not permit any employment in Italy.
Capital City
Rome
Visa free countries
Schengen Area
Total area
301,340 km2
Languages
Italian
Currency
Euro
Population
60,317,116
Time Zone
UTC+1

Freedom of movement in the European Union
No investment requirements
Leads to permanent residency and Italian citizenship
Live in an EU country
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Application Process

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Receive your residency permit
Italy Wealth Visa
Application Process
Italy's elective residence visa does not require any investment like the investor visa. Instead, you will need to show your ability to support yourself and have accommodations in Italy. This can be done by renting or buying property. You will need to show documentation of stable income (e.g., a pension). This can also be done by transferring a year's worth of money into an Italian bank account to cover your expenses. For a single person, the minimum financial requirement is EUR 31,000. For a married couple, it is EUR 38,000. An additional 20% is necessary for each dependent child. Be aware that to guarantee approval, it's generally recommended to show a lot more income. It's advisable to have at least EUR 350,000 at the beginning of each year in an Italian bank account.
Requirements
- To qualify for the Italy elective residence visa, you will need to first meet the financial and accommodation requirements discussed above. In addition, you will need to provide:
- A police certificate from the last country or residence
- Proof of valid health insurance
Other requirements:
- The initial permit is valid for one year and can be renewed every year provided that the same original requirements are met. You will have to spend most of the year in Italy (183 days) to renew your permit.
- Under the Italy elective residence visa, the applicant is allowed to add his spouse and children who are under 21. Older children, parents and other relatives can also apply for elective residence by having their living costs covered by the main applicant.
- See all requirements in our factsheet
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Download Our Factsheet
Do you need more information about the Italy Wealth Visa program? Download the complete factsheet below:
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