A new kind of visa for non-EU citizens who intend to invest in Italy has been introduced by article 26-bis of the Consolidated law on immigration (D.L. 19.05.2020 n. 34).
Through this new provision, the Italian government offers advantageous conditions for all wealthy non-EU citizens who want to relocate to Italy, offering first a permanent residence permit, which can later be converted into Italian passport.
The above provision is not the only one aimed at non-EU citizens but is the one that allows obtaining residence in the shortest time together with the flat-tax regime.
In fact, another way to obtain residency in Italy for wealthy non-EU citizens is the flat tax regime, which is among the most convenient in Europe from a fiscal point of view: it grants residence in Italy, allowing to pay a fixed yearly tax of Euro 100,000 on all income owned outside Italy. For more information on this regime, I refer to my previous article: Italy now attractive for wealthy foreigners.
There is a cheaper option for those who have the opportunity to immigrate to Italy based on the non-EU foreign workers and entrepreneurs visa residence permit. Also, for this new regime, I refer to my previous article: Italy attract foreign workers and entrepreneurs.
In this article, I am addressing non-EU citizens interested only in the Italian residency and citizenship by investments in Italy.
Non-EU citizens who wants obtain residency in Italy through investments, also in order to be free to travel to all other Schengen Zone countries without a visa, needs to comply with the following requirements:
From now on, the visa for foreign investors can also be requested by the legal representatives of corporations.
This new provision has been introduced by Article 40-quater of the Simplification Decree (Legislative Decree no. 76/2020), in the version converted by Law n. 120/2020, effective from 15 September 2020.
The purpose of this new regulation is to increase the attractiveness of foreign investments in Italy.
Applications for authorization to issue the investor visa must be sent online through the web site: https://investorvisa.mise.gov.it/
As first step you need the nulla osta for which it is required to attach electronically the following documents:
Once you have received the Nulla Osta, you have to submit it with the following documents to the Italian Embassy or Consulate of your country in order to request the Investor Visa:
The documents must be in Italian or English or translated with certification
The investor residence permit is issued with a two-year validity starting from the date of entry into Italy and, if the investment is maintained, it is renewable for further periods of 3 years.
The visa is, on the other hand, refused or revoked if, within 3 months from the date of entry into Italy, the recipient fails to prove that the investment or donation has been made for the entire amount envisaged.
Furthermore, the visa may be revoked at any time if, in the light of the findings made by the Secretariat of the Committee, the investment is discontinued or if the holder of the residence permit is unavailable at the declared address.
For more information or individual advice please contact: email@example.com
 The initial investment amounts in Italian companies have recently been halved by art. 38, paragraph 10 of the relaunch decree (D.L. 34/2020, converted, with amendments, by Law no. 77/2020).
 see note nr. 1