Italy halves the investment in exchange for the residence permit!
Published at: 01/06/2020 12:00 pm
The lowest amount of investment to become a resident in Italy would be 250,000 EUR, but the legislators can further ease the conditions. Italy is following the examples of several countries with residency or citizenship by investment programmes to decrease the necessary amount of investment.
It looks like the governments need a quick extra boost to their economies to be able to manage the crises caused by the Covid-19 virus. It's worth to notice that the Caribbean countries, which offer citizenship through investment, also dropped their prices, but the Italian move to halve the necessary amount is more than exciting.
Investors may become residents in Italy since 2017 if they "engage in capital investments that benefit the Italian economy". (Source)
The original scheme contained three option:
- Purchase of Italian government bonds - two million euros
- Invest in an Italian company - one million euros OR 500,000 euros in a start-up.
- The contribution of at least one million euros for philanthropic funds.
An investor can get a resident visa for an initial two years, and then they can extend it for more three years. After living for five years in Italy, citizens of third countries may become citizens.
According to the new amendment, which can be enacted in two months, foreign investors may invest 500,000 euros in companies or 250,000 euros in start-ups. The new amounts are comparable with the same requirements in Spain, Portugal or Greece (however all investors' immigration schemes have their particular details).
The process of obtaining the Italian Investor Visa is straightforward. Perhaps, the most complex part is to collect the necessary documents and to prove the transparent source of the invested amount by the related financial institutes.
Do you want to live in Europe? The investors' immigration schemes are changing fast, so it's better to be always informed. Click here to set up a consultation now and ask about the best solutions tailor-made for you!