Many tourists presume that Italy is expensive and think that living in Italy is pretty much unrealistic. And if you happen to be at St. Mark’s Square in Italy, the decision to live in Italy might be even more unnerving. But that’s not the case at all! If you move outside the famous tourist places, you’ll find that you don’t have to spend a fortune to lead a good life in Italy.
Now that we already know how great a country it is, foreign investors are taking a keen interest in expanding their base in Italy. Moreover, the country’s economic policies are making it an attractive option— both in terms of living standards and international investments. To put it simply, the government initiatives facilitate and simplify internal regulations to streamline bureaucratic systems for those who wish to start or expand their business.
This is how the “Golden Visa” program came to the limelight. This article will shed some light on the maxims of getting a permanent residency through investment and why you should opt for those who are still new to this concept.
Golden Visa- The Investor Visa Program
The primary program enables foreign citizens to obtain a permanent residency through investment. Experts and professionals also call it “The Italian Golden Visa” or “The Investor Visa.” This program targets individuals with high worth and those who can contribute significantly to the Italian economy.
Having said that, there are other ways that you can consider investing in Italy. To give you an example, you can go for the StartUp program (that further bifurcates into Italia Startup Hub and Italia Startup Visa). Using this scheme will allow foreign nationals to obtain citizenship by setting up a company in Italy.
Other than this, you can also look for options like an entrepreneur visa or self-employment resident permit. Irrespective of all the options available, if you want to enter Italy for business purposes, the Golden Visa program still holds the top spot.
But before we move ahead with all the legalities, you might want to know the reasons as to why you should go for dual citizenship through investment in the first place. Right?
Top Reasons to Opt for Italian’s Golden Visa
Besides the high standards of living and incredible investment opportunities, there are a plethora of reasons that make the Golden visa program such a good option for new-age entrepreneurs and investors.
First things first, you get to be a part of the EU union. So, technically you get the freedom of moving across Europe without any restrictions. Thus, it accounts for the most significant and most vital pros if you list down why you should opt for this Italian investor visa.
For more than 30 years, everyone knows this country as the second-largest manufacturer across Europe. In fact, it is home to a large manufacturing trade surplus and outranks many leaders for a plethora of products.
The country is also home to 20 different universities that rank among the top 500 institutions for quality education worldwide. So, you get access to a skilled workforce within the country itself.
The country values investors, whether new or old. The authorities make sure to form a good relationship with investors. And for that, it offers its investors a variety of information regarding investments and other services to help them at every stage.
If you don’t know where to begin, the following information might help you get started in the right direction.
Since you are eyeing investing in Italy, you must dwell on the necessary knowledge to find the best option. Having said that, experts suggest that if you wish to invest in Italy, you must go for options like telecommunications, renewable energy, life sciences, travel/ tourism, or related sectors.
And if you opt for sectors like capital goods, fashion, robotics, or biotechnology, you will benefit from their high-growth potential. In short, you have a wide array of options to choose from.
Besides this, if you think about settling in Italy, you will benefit from flat tax rates. Not only this, it gives you access to the marketplace with more than 500 million consumers. You can learn more by visiting the website of Bersani Law Firm you will find how the Golden Visa Program is beneficial in the long run.
Also, since the entire process is so streamlined and online, it is quite an easy option to expand your business. Now that you have some motivation as a catalyst for settling in Italy, the experts suggest noting down some things to get going.
Prerequisites For Obtaining an Italian Citizenship by Investment
If you are looking to immigrate to Italy via investment, the following are the minimum requirements that you must fulfill.
- The investor must be around 18 years of age to start with the application procedure.
- The state of health must be well-documented and excellent.
- There must be no criminal record.
Besides, if you go by the September amendments to this investment program, here are some nitty-gritty details about the amount you need to invest in applying for this program.
- For a novel startup idea– €250,000
- For companies that are working in Italy- €500,000
- Government Bonds – €2 million
- Philanthropic donations for culture, education, research, and so on- €1 million (minimum).
Note- Since the processing time of the application is around 30 days, the only thing you require is to declare how you will use these funds at the time of application. In other words, you don’t need to invest until you get the final status of your application.
How to Get Started With This Program?
Firstly, you need to file for Nulla Osta/ no impediment certificate. You can even register online and apply for the same. Once you are through with that, you must visit the Italian embassy in your country and apply for a 2-year visa. You can extend it for more and include your family members as well.
If you don’t have all your documents, this procedure might seem a bit complicated or lengthy. Other than Nulla Osta, you must have a valid passport, documents of investment (with the help of a bank statement), and proof of money procurement (In simple terms, the sources from where you got your money.)
Now that you are pretty familiar with the legalities and the process, you will have an idea that you can’t use all your time in filing and procuring documents with so much going around on the ideation or setting up of your business.
This is why you require assistance from lawyers who have experience in the Golden visa investment program. Keep reading, and you will find out more reasons!
Why Should You Hire an Attorney to Apply For The Golden Visa Program?
If everything goes according to the plan and you are starting your journey to obtaining Dual Italian citizenship, you need the support of the lawyers that will take you to the finish line with ease and comfort.
Is that all? Not really! Let’s dive a little deeper and find out more about this.
- For starters, if you hire experienced attorneys, they will help you understand both the physical and legal aspects of investing in Italy.
- As every situation is unique, the lawyers will provide you with tailored recommendations to smoothly get through the complicated process.
- Since you will require several documents to get started, the lawyers will help speed things up to obtain all the necessary documents on time.
To Sum it All
Italy is a country known for its fantastic culture. But that’s not the only reason its popularity is growing in the market. This country is quite open to innovation, which is why it spends around 20 billion euros on R&D. This reason makes it a pretty promising country for investors who wish to invest in diverse markets.
Also, it has more than three universities among the top 10 institutions across the world with around eight significant economies. And if you take into account the “impact factor” of research articles, Italy ranks fifth among the lot. Thus, making this country one of the best options for investments.
Besides these, the country has an excellent infrastructure and gives you access to a skilled workforce with technical knowledge. Also, the government is readily making economic repositioning changes that make it possible for investors to achieve results as anticipated.
In short, if you opt for the Golden visa program, you have everything to gain. But you must have all the documents and investment money to gain entry into this region successfully. For instance,
- You must have a Nulla Osta issued before applying for the visa. But make sure the time between Nulla Osta and application is not more than six months.
- If you wish to stay, you must inform the authorities to get the permit. You can renew the timeline if you can maintain the investment amount for those number of years.
Hoping that all the information mentioned above will help you make a decision that’s beneficial for you. So, are you ready to expand your business?