Does Italy have a golden visa program? How has it changed in 2025?
In 2017, Italy launched its residency by investment program for non-EU citizens introducing a new path to residency for applicants. Other countries like Spain, Portugal, Greece, Hungary and Malta offer a similar track, but Italy’s version stands apart in both structure and requirements. Unlike other countries, Italy does not currently allow residency to be obtained through pure real estate investment.
Instead, its Investor Visa is centered on strategic investments such as government bonds, limited liability companies (LLCs), innovative start-ups, or philanthropic donations.
In an effort to promote Italian attractiveness, Italy introduced major fiscal incentives for new residents of Italy. The major one is definitely the Italian € 200,000 flat tax program. The main applicant pays € 200,000 on any foreign income source for up to 15 years.
The only requirement is not being an Italian resident for 9 out of the previous 10 years prior acquiring tax residency to Italy.
The flat tax is paid annually on/before June 30th.
Italy also introduced the Elective Residency Visa (Retiree Program) which is designed for non-EU pensioners and retirees, this visa requires applicants to demonstrate sufficient passive income to live in Italy without working. It is effectively a residence-by-lifestyle program, subject to strict income and housing requirements.. There are certain strict requirements that must be met, but that is the subject of another article.
Check out our elective residency visa guide for 2020 for more information about this.
What is the Italian Golden Visa??
The Golden Visa—technically called the Investor Visa for Italy—is a two-year visa issued to non-EU citizens who commit to making a qualifying investment in Italy. It offers:
Residency rights in Italy, with the potential for permanent residency and eventual citizenship
Full mobility within the Schengen Area.
A streamlined and fast-track process compared to traditional immigration routes.
In 2025, the Italian government reaffirmed its commitment to the program, keeping entry thresholds competitive while emphasizing transparency, compliance, and legitimate fund sourcing. While countries like Portugal and Greece have tightened their rules, and Spain discontinued its program, Italy continues to attract investors by maintaining accessible entry points.
It is a 2-year renewable visa given to non-EU citizens who choose to make qualifying investments in Italy. Doing so will grant them the right to stay in Italy as long-term residents and eventually, if they choose, as citizens.
Compared to the traditional immigration routes to Italy, this way is simplified and fast.
Once you have residency in one Member State of the European Union, you are afforded all the rights (and duties) of other citizens, including free movement within the Schengen area. It is an opportunity to gain access to Europe by investing in its future and the reward of residency reflects as much. If your long-term goal is to become an Italian citizen, this is simply another option.
Golden visa programs, so far, throughout the EU have generated about €25,000,000,000; not a bad start for a new idea.
Check out our video of last year about Elective Residency Visa or Golden Visa as it more known for.
In 2025, the Italian government reaffirmed its commitment to attracting foreign capital through the Investor Visa program. While countries like Portugal and Greece have revised or increased their requirements, and Spain has discontinued it, Italy has kept its entry points competitive, with options starting as low as €250,000 in innovative start-ups. The program also now emphasizes compliance, transparency, and the sourcing of legitimate funds as part of the application process.
How much would I need to invest?
The amount depends on the type of investment chosen. Thanks to the “Relaunch Decree” of 2020, the minimum thresholds for some options were reduced, making the program more attractive. Current options include:
- €2,000,000 – Purchase of Italian government bonds;
- €1,000,000 – Philanthropic donation to a public-interest project;
- €500,000 (reduced from €1,000,000) – Investment in an Italian public or private limited company
- €250,000 (reduced from €500,000) – Investment in an innovative startup
Note that the main applicant can sponsor his/her family dependents without incurring in additional investments or costs. Importantly:
- No investment is made before being granted the VISA, greatly reducing any risk;
- Physical presence in Italy is not required to renew your residence permit; the “zero-presence” rule allows flexibility for the applicants;
- Startup investments trigger a 30% tax credit to be used against your Italian taxes (€ 75,000);
Before applying, you must obtain a Nulla Osta (certificate of no impediment) from the Investor Visa Committee. Applications are made via the official portal: https://investorvisa.mise.gov.it.
How to apply for the Investor VISA “Nulla Osta”?
The application is done entirely online through the online portal and you can do it yourself. In order to submit your application you must have an Italian approved digital signature complying with the EIDAS and other Italian standards; to acquire that you must first apply for the Italian TIN number (Codice Fiscale).
The documents to submit are:
- Valid passport (6 months expiry or more);
- Resume/CV;
- Three months bank statement showing the balance which must exceed the investment you intend to make;
- Bank letter confirming the amounts on your statement and FATF compliance;
- Targeted investment disclosure
- Apostilled Criminal/Police Clearance certificate;
Once you uploaded all the documents, the system generates your application and you must download it, sign in CADES .p7m format with your digital signature, and upload it on the system.
The committee has then 30 days to approve or reject your application.
How to apply for the VISA?
Once you obtained your Nulla Osta, you can finally apply at the local Italian consulate providing the same documents you used to apply for the “Nulla Osta”, on top of:
- VISA form duly filled;
- Flight reservation to Italy;
- Italian temporary address;
- VISA fee cheque.
The local Italian consulate will then issue your VISA on your passport and you can finally move to Italy!
Does the visa grant residency as well?
This visa grants a two-year renewable temporary residence permit; the renewal is for three years leading to EU permanent residency. Most visas for Italy last only one year, sometimes less. You can gain permanent residency in Italy as long as there is proof that you earn at least €10,000 per year. Italian citizenship, can be granted after ten years.
The Italian investor VISA has the shortest investment holding period in Europe, in fact, you are required to hold the investment for just two years. In other words, you must maintain your investment to obtain the three years renewal, while you can dispose of it immediately after. This doesn’t affect your eligibility for your EU permanent residence application in year five.
What Are the Benefits of the Italy Golden Visa in 2025?
- Visa-Free Travel: Enjoy unrestricted travel across 27 Schengen countries for up to 90 days within any 180-day period.
- Work & Study: Golden Visa holders and their families can work or run a business in Italy with no restrictions.
- Family Inclusion: Bring your spouse, dependent children, and even elderly parents with you under family reunification rules.
- No Physical Stay Requirement: Residency is granted even without residing full-time in Italy, unlike Portugal or Spain.
- Tax Regime for New Residents: Eligible applicants can opt for a flat €200,000 annual tax on global income, with extensions for family (€25,000 each).
- Pathway to Citizenship: After 10 years of legal residence, applicants can apply for Italian citizenship, which includes full EU rights.
Did Italy cut the investment requirements for its golden visa?
Yes. As part of the post-pandemic “Relaunch Decree,” the Italian Golden Visa program significantly reduced its thresholds in 2020, making it even more appealing in 2025. The two most affordable investment routes are:
-€250,000 in an innovative Italian start-up
-€500,000 in an Italian limited company
-€2,000,000 in Italian government bonds
-€1,000,000 donation to a public-interest project
Are you planning to live in Italy? Check out our guide on how to write a proper cover letter for your visa, our guide to Italian residency or discover how to get paid to move to Italy.
