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With a minimum investment of €250,000, Italy’s Golden Visa is becoming more and more popular among affluent people, many of whom are from India.

Benefits of the visa include European residency, visa-free entry into Schengen nations, and chances to settle down permanently in a European nation that welcomes business.

Italy’s Golden Visa: A Growing Gateway to European Residency for Wealthy Indians

It is available to non-EU citizens who invest in specific qualifying areas and is formally known as the Italy Residence by Investment Program.

Italian government bonds, creative startups, Italian businesses, and charitable endeavors are among the acceptable investment categories.

This scheme does not apply to real estate investments.

There are four specific investment options:

• €2 million in Italian government bonds
• €500,000 in an Italian company
• €250,000 in a certified startup
• €1 million in a philanthropic initiative

A two-year residency permit is granted to applicants who fulfill the investment requirement.

If the original investment is kept up, this permit may be renewed for a further three years.

Path to Permanent Residency in Italy Requires Five Years and a Nulla Osta Certificate

People who have lived in Italy for five years in a row have the option to stay longer or apply for long-term EU or permanent Italian residency.

Before submitting an application for a visa, a Nulla Osta al visto (no objection certificate) must be obtained from the IV4I committee.

Within two years of its issuance, the visa must be activated, or used to enter Italy.

For foreign investors who relocate their tax residence to Italy, the country offers alluring tax incentives.

Those who qualify can opt for a special tax regime in which they pay a fixed annual tax of €100,000 on their foreign income.

For an extra €25,000 per person per year, family members can also receive this tax benefit.

The duration of the special tax regime is 15 years.

This regime is only available to people who have not been tax residents of Italy for at least nine of the ten years prior.

In 2022, Italy’s economy was estimated to be worth $2.17 trillion, ranking third in the EU.

One of Italy’s major cities, Milan is the third-richest city in Europe, with over 115,000 millionaires and 17 billionaires living there.

India’s Ministry of External Affairs reports that there are currently more than two million Indians living in Italy.

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