March 16, 2024

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A Guide to Acquiring Italy Elective Visa: Unlocking Your Residence Permit in Italy

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A Guide to Acquiring Italy Elective Visa: Unlocking Your Residence Permit in Italy

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Are you planning to stay in Italy for longer than three months? If so, you will need to apply for the Italy Elective Visa. This visa is issued by the Italian Government to allow foreign residents to remain in the country for a specific period of time. With this visa, you can unlock the benefits of living in Italy, such as long-term residence, employment, and access to the country’s social and economic benefits.

Overview of Italy Elective Visa

The Italy Elective Visa is a long-term visa that allows you to stay in Italy for a period of up to one year. It is issued by the Italian government and is valid for the duration of your stay. The visa is renewable, and you can use it to travel in and out of Italy.

The Italy Elective Visa is designed to allow foreign nationals to acquire a residence permit in Italy. It is a great way to gain access to the country’s social, economic, and cultural benefits. 

This visa is available for financially independent persons who have annual passive income in the amount of EUR 31,000 and above, sufficient amount of money in the bank account and residential address in Italy along with other requirements stated below. 

Advantages of Having Italy Elective Visa

The Italy Elective Visa offers a number of benefits, such as:

  • Visa-free entry to the EU and Schengen Area countries.
  • Fast application processing: up to 3 months.
  • Business opportunities: expansion, entry into the EU market; the formation of a company in Italy allows you to renew a residence permit for the entire family.
  • Return on investment: option to purchase commercial and residential real estate with an annual return of up to 5%, and a return on initial investment in 5 years.
  • Access to EU banking system: the right to open and service accounts in reliable class A EU banks.
  • The clear path to EU citizenship in 10 years: for individuals who live in Italy for at least 6 months per year. 
  • No restrictions on dual citizenship: no need to renounce your existing citizenship when obtaining a Italian passport.
  • Requirements for Applying for the Italy Elective Visa

In order to apply for Italy Elective Visa, you must meet the following requirements:

  • Be a non-EU citizen;
  • Have a valid passport;
  • Prove sufficient funds to support your stay in Italy;
  • Have health insurance coverage for the duration of your stay;
  • Rent or buy property in Italy: 
  • Do not have any criminal record in Italy and home country.

Necessary Documentation for the Italy Elective Visa Application

You will need to provide the following documents when applying for the Italy Elective Visa: 

  • Identity documents (national/international passport, birth certificate);
  • Marriage/divorce certificates, if necessary;
  • Name change certificates, if applicable; 
  • Confirmation of the address of residence in Italy (utility bills, lease agreement, ownership, etc.);
  • Proof of employment with the ability to work remotely;
  • Tax returns for the last 2 years;
  • Documents confirming passive income; 
  • Bank statements for the last 12 months;
  • Certificates of no criminal record from the country of origin;
  • Resume and/or business biography;
  • Pax number. 
  • Italian medical insurance for 1 year; 
  • Confirmation that you have no criminal record in Italy; 
  • Application form;
  • Motivation letter;
  • Certified translations and apostille of the entire document package.

The Process of Acquiring a Residence Permit in Italy

The expected time frame to obtain the Elective Residence visa is approximately 3 months as of the date the applicant provides us with all relevant information and documentation. Once the applicant obtains the visa, they can travel to Italy, apply for the residence permit and reside there legally. You should follow the steps as below: 

  1. We book an appointment at the Italian embassy or consulate in your country which is responsible for your jurisdiction.
  2. We complete and submit Long-Stay Visa Application Form. 
  3. You have an appointment, show up in person and bring all the required documents.
  4. You pay the Italy Visa Fee n euros by cash or credit card. 
  5. Your visa is processed.
  6. Visa is approved: 
  7. Travel to Italy and apply for an Italian Residence Permit.

Once you have been issued with the Italy Elective Visa, you will need to apply for a Residence Permit in Italy. This is done by submitting an application to the local police station in the city where you will be staying in Italy. The application must be accompanied by the necessary documents. 

Once your application is approved, you will be issued with the Residence Permit in Italy. This permit is valid for one year and is renewable with no limitations. The residence permit is renewable under the same substantive conditions for the 1st issuance, as long as the foreign national is never absent from the Italian territory for longer than 6 continuous months. After 5 years of continuous registered legal residency in Italy, the applicant is eligible to apply for a permanent residence permit. 

Conclusion

Getting an Italy Elective Visa is a great way to unlock the benefits of living in Italy. The application process is relatively straightforward and hassle-free. If you are looking for assistance with applying for the Italy Elective Visa, Golden Harbors can help. Our team

Italy

Residence Benefits

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Visa-free entry

To the EU and Schengen Area countries

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Global mobility and freedom

within 8 months

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Low investment threshold

from € 250,000

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Global mobility and freedom

The right to open and service accounts in reliable class A EU banks

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Business opportunities

expansion, international expansion, opening a company in Italy. Access to Italian real estate

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Global mobility and freedom

The status of a tax resident for foreign citizens allows you to receive tax exemptions for 15 years in the form of a fixed amount of income tax at €100,000 and a discount of €25,000 for each family member

Italy

Golden Visa

Processing Time and Terms

Enter your estimated application start date for Italy Golden Visa and receive a clear timetable for each step

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1

Sign a service agreement, fill out application forms, and pay the initial service and due diligence fees.

30

create a personal account on the web portal of the Italian Investor Visa Committee and receive a letter of approval.

90

We prepare the document package for the main applicant, and your application is submitted to the Italian Embassy

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visit Italy and apply for a residence permit.

90

Fulfill the Italian residence by investment program requirements.

30

Obtain Italian residence permit card.

There are Always Options to EXPAND YOUR BOUNDARIES! Let's Discuss Yours

Every client is unique

Every case requires an individual approach and solution. Our years of experience in the industry allow us to provide both.

We will answer all your questions and provide detailed information about the available second passport and residency programs to help you make the right choice.

Victoria

Lead Attorney at Golden Harbors

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Victoria

Lead Attorney at Golden Harbors

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