Elective Resident Permit Program

Advantages

  • A European Union (EU) member country
  • Spouse, and any dependent children up to 18 years old can be included
  • Italian residents can travel freely throughout all 26 Schengen countries in Europe
  • 1 year residency visa with simple renewal procedure or optionally a 5 year Tourist Visa with up to 90 days continuous stay
  • Can apply for permanent residence after 5 years residence
  • Can apply for citizenship after 10 years residence

Requirements

  • Must purchase a qualifying property in Italy
  • Must provide evidence of relationship of dependents to the applicant
  • Proof of having sufficient funds for the applicant and any Dependents to live in Italy
  • Many not be employed in Italy
  • Must have a confirmed flight reservation
  • No criminal record
  • Must be in good health
  • Must have acceptable Medical Insurance with minimum €30,000 coverage for 100% of all medical expenses

Investment Options

  • An investment of at least €300,000 in a single property to be used as a residential home in Italy
  • The investment must be maintained until Permanent Residence is granted but may be sold after gaining Permanent Residence status
  • The investment must be made within six months from entry into Italy

Processs

  • Submission of application and suppoting documents plus evidence of intended investment
  • Upon approval, six-month visa is issued with 90 days maximum stay
  • The applicant must report to the local Police Authorities within 8 days of arrival to obtain a Permit of Stay (Permisso di Soggiorno)
  • Investment must be made within the six month Visa Validity period before the Elective Residence Permit will be issued (or alternatively a 5 year tourist visa)

The Elective Residence Permit may be renewed each Year at the Police Headquarters of the relevant territorial Jurisdiction where the investment property is purchased