Italy, a name that has culture, history, and a pleasing way of life attached to it, presents a special chance for non-EU citizens to gain residency: the Italy Golden Visa Program. The official name for this is the Investor Visa for Italy, and it grants you a residence permit based on a qualifying investment. For Indian families and professionals considering this option, it is important to be aware of the overall Italy Golden Visa cost.
This blog will break down the investment opportunities, associated fees, and other expenses, providing an open perspective on achieving your Italy Residence by Investment.
The Italy Golden Visa Program: An Overview
Favoured with the government’s introduction in 2017, Italy Golden Visa Program aims to attract foreign investments. It issues a two-year residence permit, renewable in three-year increments, provided your investment is held. Provided that you maintain five years of continuous legal residence, you will be entitled to permanent residence. After ten years, Italian citizenship becomes an option.
Unlike some other programs, the Italy Golden Visa does not permit direct real estate purchases as a qualifying investment. The focus is on investments that directly benefit the Italian economy.
Investment Options: The Core of the Italy Golden Visa Cost
The largest portion of the Italy Golden Visa cost is your invested money. These are the four main options:
Innovative Startup Investment: €250,000. This is the minimum route in terms of entry, which involves investment in an eligible Italian innovative startup incorporated in the previous five years.
Italian Limited Company Investment: €500,000. Invest in shares or stakes of a current Italian company that is in operation.
Philanthropic Contribution: €1,000,000. A non-returnable contribution to public interest initiatives in fields such as culture, education, or scientific research.
Italian State Bonds: €2,000,000. Invest in Italian state bonds with a residual maturity of more than two years. This is typically regarded as a lower-risk investment.
These figures are the minimum prescribed. Money must be of legal origin.
Beyond Investment: Additional Fees and Expenses
Beyond the main investment, other expenses contribute to the overall cost of Italy Golden Visa:
Application Processing Fees: Approximately €116 for the initial visa application. A residence permit issuance fee of about €126.46 applies per applicant (including dependents) upon approval.
Legal and Consulting Fees: Necessary for dealing with Italy Golden Visa requirements and securing a hassle-free process. These range depending on services but are an important investment.
Due Diligence Fees: Needed for all applicants to check backgrounds and legality of funds. Variety of cost.
Document Translation & Legalization: All documents supporting must be translated into Italian and, in many instances, apostilled/legalized.
Health Insurance: Mandatory for applicants. Individual coverage may be required first, possibly before they can enter into the public health system.
Travel Expenses: At least one trip to Italy is needed for the provision of biometric data and application for residence permit.
Tax Implications: Italy offers a generous flat tax regime for foreign-sourced income for new residents (€200,000 annually, plus €25,000 for each family member). Tax consultant advice is advisable.
The Italy Golden Visa Process and Fees: A Simplified Look
Italy Golden Visa Process and Fees include the below:
Online Application & Nulla Osta: Fill out your application online on the official portal to get a “Nulla Osta” (certificate of no impediment) within 30 days.
Visa Application in India: With the Nulla Osta, apply for the Investor Visa (D-type) at the Italian Consulate/E Embassy in India.
Entry into Italy & Residence Permit: Arrive in Italy and apply for your residence permit from the local Questura within eight working days.
Investment Completion: Complete the chosen investment within three months of entry into Italy.
Permit Issuance & Renewal: The initial permit is for two years, renewable every three years.
Why Indians Choose Italy Residence by Investment
For Indian citizens and their families, Italy Residence by Investment offers the following strong incentives:
Schengen Access: Visa-free travel in the 29 countries of Schengen.
High Quality of Life: Presence of superior healthcare, good education, and affluence in culture.
Family Inclusion: Dependent parents, spouses, and dependent children can be included in a single application.
Pathway to Citizenship: After 10 years of stay, with proficiency in Italian language, citizenship can be obtained, providing a strong passport.
Interest from India is increasing, with a large number of residence permits to Indians in 2023, demonstrating the growing attraction of Italy.
How FRR Immigration Helps You Achieve Your Italian Dream
It is daunting to deal with the Italy Golden Visa fee and confusing Italy Golden Visa process and rates. FRR Immigration is here to provide individual assistance:
Personalized Consultation: We assess your eligibility and recommend the best suitable investment scheme for your family, detailing the entire Italy investor visa cost.
Transparent Cost Breakdown: We give you a clear cost breakdown of all costs, from investment to legal and government charges, so there are no surprises.
Document Management: Our experts carefully prepare, translate, and submit necessary documents in full compliance with Italy Golden Visa regulations.
Liaison with Authorities: We take care of all the contacts with Italian authorities for you, making your application simpler.
Post-Approval Support: We assist with Italian residence permit applications and help settle, including tax advice.
Long-Term Guidance: From permit renewals to the path to citizenship, we are your long-term guide.
FRR Immigration ensures your journey to Italy Residence by Investment is seamless, and your dream reality.
Contact FRR Immigration today and schedule a personal consultation. We can guide you through the Italy Golden Visa procedure and cost.
