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Italy Golden Visa 2026: Complete Guide to Investment, Requirements & Process

Updated on
February 11, 2026
written by image movingto
Written by:
Radica Maneva
Reviewed by:
Inês Cabral Almeida
Italy Golden Visa 2026: Requirements, Investment & Process
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What is the Italy Golden Visa? The Italy Golden Visa (officially called the Investor Visa for Italy) is a residency-by-investment program that grants non-EU citizens a two-year residence permit in exchange for a qualifying investment in Italy's economy. Investment options start at €250,000 for innovative startups, with higher thresholds for company equity (€500,000), philanthropic donations (€1 million), and government bonds (€2 million). Unlike Portugal or Greece, Italy does not offer a real estate investment route.

The program follows a "pre-approval" model: you receive government approval (Nulla Osta) before committing any funds, reducing financial risk. Once approved, you have 90 days after entering Italy to complete the investment. The permit is renewable for three additional years, and after five years of residence, you can apply for permanent residency. Italian citizenship typically becomes available after 10 years.

TL;DR: Italy Golden Visa at a Glance

Bottom line: Italy's Golden Visa offers the lowest entry point in Europe (€250,000) with a unique pre-approval model that eliminates upfront investment risk. Processing takes 3-4 months, and there's no minimum stay requirement for permit renewal—but citizenship takes 10 years.

Best for:

  • Lowest budget: €250,000 startup investment (vs. €500K+ elsewhere)
  • Risk-averse: Government pre-approval before you invest a single euro
  • Busy professionals: No minimum stay for permit renewal
  • Capital preservation: €2M government bonds route (safest option)

Not ideal if: You want real estate investment (not available), fast citizenship (10 years vs. 5 in Portugal), or won't learn Italian (required for PR/citizenship).

Italy vs Other European Golden Visas

Italy Golden Visa

  • Minimum: €250,000 (startup) / €500,000 (company)
  • Real estate: Not available
  • Processing: 3-4 months
  • Initial permit: 2 years
  • Path to PR: 5 years
  • Path to citizenship: 10 years
  • Key advantage: Pre-approval before investing, lowest entry point

Portugal Golden Visa

  • Minimum: €250,000 (cultural) / €500,000 (fund)
  • Real estate: Eliminated October 2023
  • Processing: 12-18 months (backlog)
  • Initial permit: 2 years
  • Path to PR: 5 years
  • Path to citizenship: 5 years
  • Key advantage: Fastest citizenship in EU, minimal stay (7 days/year)

Greece Golden Visa

  • Minimum: €250,000-€800,000 (real estate, varies by region)
  • Real estate: Available (main route)
  • Processing: 2-3 months
  • Initial permit: 5 years
  • Path to PR: 7 years
  • Path to citizenship: 7 years
  • Key advantage: Real estate investment, longest initial permit

Spain Golden Visa

  • Minimum: €500,000 (real estate)
  • Real estate: Available
  • Processing: 2-3 months
  • Initial permit: 2 years
  • Path to PR: 5 years
  • Path to citizenship: 10 years
  • Key advantage: Real estate in major cities, strong rental market

Bottom line: Italy offers the lowest entry point (€250k) and unique pre-approval model. Portugal has the fastest path to citizenship (5 years) but long processing times. Greece allows real estate investment with longest initial permit. Spain offers real estate in prime locations but higher minimum and 10-year citizenship timeline.


What's New in 2026

Italy's Investor Visa program remains stable heading into 2026, with no changes to investment thresholds or eligibility requirements. Key developments to note:

Program status: Fully operational with consistent processing times of 3-4 months.

Russia/Belarus suspension: Following EU Recommendation C(2022)2028, the program remains suspended for Russian and Belarusian nationals — including dual nationals holding either passport. This restriction, implemented in 2023, shows no signs of being lifted.

Processing trends: Based on 2025 data, Nulla Osta approvals typically take 25-35 days. The Investor Visa Committee (IV4I) continues to meet regularly, avoiding the backlogs seen in some competing programs.

No real estate route planned: Unlike speculation about following Portugal's former model, Italy has given no indication of adding real estate as a qualifying investment category. The focus remains on productive investments that benefit the Italian economy.

Flat tax update: The 2026 Italian Budget Law increased the optional flat tax for new residents to €300,000 annually on worldwide income (up from €200,000 in 2025 and €100,000 originally). Family members pay €50,000 each (up from €25,000).


Key Facts at a Glance

Requirement Details
Minimum Investment €250,000 (innovative startup)
Processing Time 3-4 months typically
Initial Permit 2 years
Renewal 3 additional years
Minimum Stay None for renewal; 183+ days/year for PR/citizenship
Family Inclusion Spouse, children, dependent parents
Path to Citizenship ~10 years of residence
Real Estate Route Not available

Is the Italy Golden Visa Right for You?

Before committing to Italy's investor visa program, honestly assess whether it matches your goals.

The Italy Golden Visa Is Ideal For:

  • Investors seeking the lowest entry point — €250,000 is among the most affordable in Europe
  • Those who want approval before investing — Italy's pre-approval model eliminates upfront financial risk
  • Busy professionals — no minimum stay requirement for permit renewal
  • Tech-focused investors — innovative startup route offers potential upside
  • Families — spouse, children, and dependent parents can be included
  • Tax optimisers — €300,000 flat tax on worldwide income available to new residents
  • Long-term planners — clear 5-year path to permanent residency, 10 years to citizenship

The Italy Golden Visa Is NOT Ideal For:

  • Real estate investors — Italy offers no property-based route (consider Greece or Spain)
  • Those seeking fast citizenship — 10 years is longer than Portugal (5 years) or some Caribbean programs (immediate)
  • Risk-averse investors — the €250,000 startup route carries genuine investment risk
  • Those who won't learn Italian — A2 level required for permanent residency, B1 for citizenship
  • Short-term planners — investment must be maintained for full 5-year permit cycle
  • Those needing immediate income from investment — startup and company routes rarely provide quick returns

Pros and Cons

Advantages

Lowest entry point in Europe — €250,000 vs. €500,000+ in Portugal, Spain, and Malta

Pre-approval model — government clearance before you invest a single euro

No minimum stay for renewal — maintain investment, keep permit (unlike Spain's 1 day/year)

Fast processing — 3-4 months vs. 6-12 months for Portuguese Golden Visa

Full work rights — live, work, or run a business in Italy immediately

Family inclusion — bring spouse, children, and dependent parents

Schengen access — visa-free travel across 27 European countries

Attractive tax regime — €300,000 flat tax option for new residents (2026 rate)

Path to EU citizenship — Italian passport ranks among the world's most powerful

Disadvantages

Long citizenship timeline — 10 years vs. 5 in Portugal

No real estate route — can't use property purchase to qualify

Investment risk — startup route can result in capital loss

Italian language required — A2 for PR, B1 for citizenship (Portuguese requirements are minimal)

Bureaucracy — Italy's administrative processes can be slow and frustrating

Investment monitoring — must maintain investment for full permit duration

No EU passporting — residence permit doesn't allow working in other EU countries (unlike citizenship)


Investment Options for Italy's Golden Visa

Italy offers four qualifying investment routes. You must choose one — mixing investments is not permitted.

Option 1: €250,000 in an Innovative Startup

The lowest entry point. Invest in a company registered as an "innovative startup" (startup innovativa) with Italy's Chamber of Commerce.

Qualifying startup criteria: - Incorporated within the last 5 years - Annual revenue under €5 million - Not publicly listed - Meets at least one innovation requirement: - 15%+ of costs or revenue in R&D - Highly qualified workforce (1/3 PhDs or 2/3 master's + R&D experience) - Patent holder or registered software owner

Risk profile: High — startups can fail, but offer growth potential.

Best for: Entrepreneurs and tech investors seeking early-stage opportunities.

Option 2: €500,000 in an Italian Company

Equity investment in an established Italian limited company (S.p.A. or S.r.l.).

Requirements: - Company must be operational and tax-resident in Italy - Must have filed at least one balance sheet (no dormant shells) - Genuine operating business

Risk profile: Medium-high — exposure to Italian industrial and commercial sectors.

Best for: Investors wanting established business exposure rather than startup risk.

Option 3: €1,000,000 Philanthropic Donation

A non-refundable contribution to projects of public interest.

Qualifying areas: - Culture and heritage preservation - Scientific research - Education and training - Immigration management - Social initiatives

Risk profile: None financially (no return expected), but significant for legacy and reputation.

Best for: High-net-worth individuals motivated by impact over returns.

Option 4: €2,000,000 in Government Bonds

Purchase Italian government securities with a minimum two-year residual maturity.

Eligible instruments: - Treasury Certificates (CCT/CCTeu) - Zero-Coupon Treasury Bonds (CTZ) - Long-term Treasury Bonds (BTP)

Risk profile: Low — state-backed, capital-preservation option.

Best for: Conservative investors prioritising stability.

Important: Real estate purchases do not qualify for Italy's Golden Visa. You can buy property after obtaining residency, but it cannot be used to secure the visa.


Eligibility Requirements

Who Can Apply?

The Italy Golden Visa is open to non-EU/EEA/Swiss nationals aged 18 and over. You must demonstrate:

  • Lawful source of funds: Your investment capital must be legally acquired and documented. Your bank will need to provide an anti-money laundering (AML) confirmation letter.
  • Clean criminal record: Recent police certificates from all countries where you've resided.
  • Health insurance: Schengen-valid medical coverage until you register with Italy's national health system.
  • Sufficient personal means: Income or savings beyond the investment amount to support yourself.
  • Commitment to invest after approval: Funds must be deployed within 90 days of entering Italy.

Family Eligibility

Italy's program is family-friendly:

Family Member Requirements
Spouse/Registered Partner Marriage or partnership certificate (legalised/translated)
Minor Children (under 18) Birth certificates; consent from other parent if applicable
Dependent Adult Children Must prove financial dependence AND disability preventing self-support
Dependent Parents Financial dependence; typically over 65 with no other supporting children

All family permits are co-terminous with the main applicant's permit.

Critical Difference: Stay Requirements for Family Members

This is frequently misunderstood: family members have DIFFERENT stay requirements than the main investor.

  • Main investor: No minimum stay required for permit renewal — just maintain the investment
  • Family members: Must spend meaningful time in Italy to maintain their permits

If family members spend extended periods outside Italy (typically more than 6 consecutive months or 10 months cumulative per year), their permits may not be renewed. This is critical for families where the spouse and children plan to remain in another country while the investor holds the permit.

If your family won't actually live in Italy, discuss this with an immigration lawyer before applying.

Exclusions

The program is currently suspended for: - Citizens of Russia and Belarus - Dual nationals holding Russian or Belarusian passports

This suspension follows EU Recommendation C(2022)2028.


Step-by-Step Application Process

Italy's Investor Visa uses a structured pre-approval system that reduces financial risk by requiring government clearance before you invest.

Step 1: Submit Application for Nulla Osta (Pre-Approval)

The Nulla Osta (Certificate of No Impediment) is your government green light.

  1. Create an account on the official Investor Visa portal
  2. Submit required documents:
  3. Valid passport
  4. Curriculum vitae
  5. Proof of lawful funds origin
  6. Bank AML confirmation letter
  7. Investment declaration (signed)
  8. Criminal record certificate
  9. The Investor Visa Committee (IV4I) reviews your application — typically within 30 days
  10. If approved, download your Nulla Osta from the portal — valid for 6 months

Step 2: Apply for Type-D Visa at Italian Consulate

With Nulla Osta in hand, book an appointment at your nearest Italian consulate or embassy.

Documents required: - Nulla Osta certificate - Proof of accommodation in Italy (temporary is acceptable) - Proof of personal income (generally >€8,500 from previous year) - Health insurance - Passport photos

The visa is stamped in your passport and valid for entry to Italy.

Step 3: Enter Italy and Apply for Residence Permit

After arriving in Italy:

  1. Apply for your Permesso di Soggiorno (residence permit) within 8 working days of entry
  2. Submit application at the local Questura (police headquarters)
  3. Complete biometric registration

Step 4: Complete Your Investment

Within 90 days of entering Italy, you must:

  1. Execute your qualifying investment
  2. Upload proof of investment completion to the online portal
  3. Retain documentation for permit renewals

Timeline Warning: These deadlines are strict. Missing the 8-day permit filing or 90-day investment window can jeopardize your application.


Costs and Fees

Government Fees

Fee Type Amount
Nulla Osta Application Free
Type-D Visa ~€116
Residence Permit (Permesso) ~€200-400
Renewal Fees Similar to initial permit

Professional Fees

Most applicants engage legal and financial professionals:

Service Typical Cost
Immigration Lawyer €5,000 - €15,000
Investment Advisory Varies by investment type
Document Translation/Apostille €500 - €2,000
Due Diligence (startup/company) €2,000 - €10,000

Total costs beyond the investment typically range from €10,000 to €25,000 depending on complexity.


Timeline: How Long Does It Take?

The Italy Golden Visa is one of Europe's faster residency-by-investment programs.

Stage Duration
Nulla Osta Application ~30 days
Visa Appointment & Issuance 2-4 weeks
Travel to Italy Within 6 months of Nulla Osta
Residence Permit Filing Within 8 working days of entry
Investment Completion Within 90 days of entry
Total Process 3-4 months typical

Benefits of Italy's Golden Visa

Residence Rights

  • Live and work in Italy: Full rights to reside, work as an employee, self-employed, or run a business
  • Schengen mobility: Visa-free travel across 27 Schengen countries (up to 90 days per 180-day period)
  • No minimum stay for renewal: Maintain the investment to renew — physical presence requirements only apply for permanent residency and citizenship

Path to Permanent Residency

After 5 years of legal residence, you can apply for: - EU Long-Term Residence Permit: Requires demonstrating continuous residence and adequate income - Requirement: Generally need to spend more than 183 days per year in Italy

Path to Italian Citizenship

After approximately 10 years of residence, you may apply for citizenship by naturalisation. Italian citizenship offers: - EU citizenship with full free movement rights - Access to one of the world's most powerful passports (190+ visa-free destinations) - Right to pass citizenship to children

Tax Benefits

Italy offers attractive tax regimes for new residents:

  • Flat Tax Regime: €300,000 per year on worldwide income (extendable to family members for €50,000 each) — applies to those opting in from 2026
  • Pensioner Regime: 7% flat tax for retirees moving to qualifying southern regions
  • Impatriate Regime: 70-90% income tax exemption for workers relocating to Italy

Tax planning is complex — consult a qualified advisor before relocating.


Italy Golden Visa vs. Other European Programs

How does Italy compare to Portugal, Greece, Spain, and Malta?

Feature Italy Portugal Greece Spain Malta
Minimum Investment €250,000 €500,000 €250,000 €500,000 €690,000+
Real Estate Route ❌ No ❌ No (ended 2024) ✅ Yes ✅ Yes ✅ Yes
Processing Time 3-4 months 6-12 months 2-6 months 6-12 months 4-6 months
Minimum Stay None for renewal 7 days/year None 1 day/year None
Path to Citizenship 10 years 5 years 7 years 10 years 12+ months (CBI)
Schengen Access ✅ Yes ✅ Yes ✅ Yes ✅ Yes ✅ Yes

Italy's advantages: - Lowest entry point (€250,000 vs. €500,000+ elsewhere) - Fast processing (3-4 months) - Pre-approval reduces investment risk - No minimum stay for renewal

Italy's disadvantages: - Longer path to citizenship (10 years vs. 5 in Portugal) - No real estate investment option - Higher complexity for startup/company investments

When to Choose Italy Over Alternatives

Choose Italy if: You want the lowest possible investment threshold, prefer pre-approval before committing funds, don't need immediate citizenship, and want access to one of Europe's most culturally rich countries.

Choose Portugal if: Citizenship within 5 years is essential, and you're comfortable with the €500,000 fund investment minimum (real estate route ended in 2024).

Choose Greece if: You want to invest in property, don't need to live in Europe full-time, and can wait 7 years for citizenship eligibility.

Choose Spain if: You want property investment, appreciate the lifestyle, and can accept a 10-year path to citizenship similar to Italy.


Living in Italy as a Golden Visa Holder

Once your residence permit is issued, you have full rights to live anywhere in Italy. Here's what to expect.

Healthcare Access

As a legal resident, you can register with Italy's National Health Service (Servizio Sanitario Nazionale or SSN). Registration provides access to: - General practitioners (free) - Hospital care (free or low-cost) - Specialist appointments (small co-pay called "ticket") - Prescription medications (subsidised)

Private health insurance is also available for faster access to specialists and English-speaking providers.

Cost of Living

Living costs vary dramatically by region:

Expense Large City (Milan/Rome) Medium City (Florence/Bologna) Small Town (South/Rural)
Rent (2-bed apartment) €1,500-2,500/month €900-1,400/month €400-700/month
Groceries €400-500/month €350-450/month €250-350/month
Utilities €150-200/month €120-160/month €80-120/month
Dining out €15-30/meal €12-25/meal €8-18/meal
Transport €40-60/month (metro) €40-50/month Car needed

A comfortable lifestyle in a major city requires €3,000-4,500/month for a couple; southern Italy or smaller towns can work with €1,500-2,500/month.

Best Cities for Golden Visa Holders

Milan: Italy's business capital. Best for investors who want to be close to their startup or company investments. Most expensive but also most international.

Rome: Historic, vibrant, and more affordable than Milan. Good for families and those who want Italian lifestyle with English-language international schools.

Florence: Smaller, beautiful, and popular with expats. Strong international community but more limited business opportunities.

Bologna: Often overlooked but excellent quality of life, lower costs than northern capitals, great food culture.

South (Puglia, Sicily): Dramatically cheaper, slower pace, but requires more Italian language and cultural adaptation. Ideal for retirees or remote workers.

Climate

Italy spans multiple climate zones: - North (Milan, Turin): Continental — cold winters, hot summers - Central (Florence, Rome): Mediterranean — mild winters, hot dry summers - South (Naples, Sicily): Mediterranean — warm year-round, limited rainfall


Renewal and Maintaining Your Status

Renewing Your Permit

The initial 2-year permit can be renewed for an additional 3 years if you:

  1. Maintain the qualifying investment throughout the permit period
  2. Apply for renewal at least 60 days before expiry
  3. Continue to meet eligibility requirements

No minimum physical presence is required for renewal — this is a key advantage over many other programs.

What Happens If You Divest?

Selling or withdrawing your investment before the permit expires can trigger: - Permit revocation - Denial of renewal application - Potential impact on permanent residency timeline

Plan your investment exit carefully with legal counsel.


Common Mistakes to Avoid

Based on our experience with 2,500+ Golden Visa applications across Europe, these are the errors that derail Italy Investor Visa applications:

1. Investing Before Approval

The most expensive mistake. Italy's pre-approval model means you apply, get the Nulla Osta, then invest. Money transferred before approval doesn't count — and you've lost negotiating power if the application fails. Never move funds until you have written approval.

2. Missing the 8-Day and 90-Day Deadlines

Two critical deadlines after arrival in Italy: - 8 working days: Submit residence permit application at the Questura - 90 days: Complete and document your qualifying investment

Missing either deadline can invalidate your entire application. Build buffer time and have documents ready before you enter Italy.

3. Document Inconsistencies

Italian bureaucracy is strict about matching details across documents. Common problems: - Name spelled differently on passport vs. bank letter - Dates formatted inconsistently (US vs. European format) - Amounts in different currencies without official conversion

Have an immigration lawyer review all documents for consistency before submission.

4. Inadequate Source of Funds Documentation

Italian authorities scrutinise the origin of investment funds. You'll need: - Clear paper trail showing how funds were acquired - Bank statements covering sufficient history - Anti-money laundering (AML) confirmation from your bank

Funds from cryptocurrency, cash businesses, or informal lending are nearly impossible to document adequately. Plan your documentation strategy early.

5. Choosing the Wrong Investment Route

The €250,000 startup route is tempting for its low threshold — but startups fail. If capital preservation matters to you, the €2,000,000 government bond route offers near-guaranteed safety. Match your investment choice to your actual risk tolerance and financial situation.

6. Underestimating Language Requirements

While the Golden Visa itself has no language requirement, permanent residency (after 5 years) requires A2 Italian proficiency, and citizenship (after 10 years) requires B1. Start learning Italian early — 10 years sounds like a long time, but it passes quickly.

7. Ignoring Tax Implications

Moving to Italy triggers tax residency questions in both Italy and your home country. Issues to address with a tax advisor before relocating: - When does Italian tax residency begin? - What worldwide income becomes taxable? - Are you eligible for the flat tax regime? - How do tax treaties affect your situation?


Frequently Asked Questions

Can I get Italian residency by buying property?

No. Unlike Portugal (before 2023), Greece, or Spain, Italy does not offer a residency-by-investment program through real estate purchase. The Italy Golden Visa requires investment in Italian businesses (€250,000-€500,000), government bonds (€2 million), or philanthropic donations (€1 million). If real estate investment is your priority, consider Greece's Golden Visa (€250,000-€800,000 depending on region) or Spain's Golden Visa (€500,000).

What is the cheapest way to get EU residency?

Italy's Golden Visa offers the lowest investment threshold for EU residency-by-investment at €250,000 (for innovative startups). Greece's Golden Visa starts at €250,000 for real estate in certain regions but has increased to €800,000 in Athens and popular islands. For non-investment routes, Italy's Digital Nomad Visa requires only €28,000/year income — the lowest income requirement among European digital nomad visas.

Can I buy property with the Italy Golden Visa?

No. Unlike Portugal (before 2024), Greece, or Spain, Italy does not offer a real estate investment route for its Golden Visa. You can purchase property after obtaining residency, but it won't count toward your qualifying investment.

Do I need to live in Italy to maintain my Golden Visa?

No — for permit renewal, you only need to maintain your qualifying investment. However, if you want permanent residency (after 5 years) or citizenship (after 10 years), you'll generally need to spend more than 183 days per year in Italy.

Can my family members work in Italy?

Yes. Family members included on your application receive the same residence rights, including the ability to work.

What happens to my investment after 5 years?

After 5 years, you may be eligible for permanent residency (EU Long-Term Residence Permit), which does not require maintaining the investment. You can then divest without affecting your residence status.

Is the Italy Golden Visa still available in 2026?

Yes. As of February 2026, Italy's Investor Visa program remains fully operational with no announced changes to investment thresholds or eligibility requirements. The only restriction is the suspension for Russian and Belarusian nationals.

What is the success rate for Italy Golden Visa applications?

Applications submitted with proper documentation and qualifying investments have very high approval rates — typically above 95%. Most rejections stem from incomplete documentation, unverifiable source of funds, or criminal record issues rather than subjective denials.

Can I invest through a company I already own?

Yes, if your existing company meets the criteria (Italian-incorporated S.r.l. or S.p.A., operational, tax-resident in Italy). However, the investment must be new capital — you can't count capital already invested before your application.

Do I need to speak Italian?

Not for the Golden Visa itself. However, A2 Italian proficiency (basic conversational) is required for permanent residency after 5 years, and B1 (intermediate) is required for citizenship after 10 years. Starting Italian lessons early is strongly recommended.

What happens if my startup investment fails?

If the startup goes bankrupt or fails, you've lost your investment — the visa doesn't guarantee returns. However, as long as you made the qualifying investment in good faith, your residence permit typically remains valid. You may need to make a new qualifying investment at renewal if the original investment no longer exists.

How does the pre-approval system work?

Italy's unique pre-approval model means you apply and receive government clearance (Nulla Osta) before committing any funds. This reduces risk — you only invest after knowing you're approved for the visa.

Can I include my parents in the application?

Yes, but with restrictions. Dependent parents can be included if they are financially reliant on you, typically over 65, and have no other children who could support them. Documentation of dependence is required.


How MovingTo Can Help

MovingTo has facilitated over 2,500 successful Golden Visa applications across Europe with a 98% approval rate. Our Italy services include:

  • Investment sourcing: Access to vetted innovative startups and Italian companies
  • Legal support: Immigration lawyers specializing in Italy's Investor Visa
  • Document preparation: Full support for translations, apostilles, and compliance
  • Tax planning: Coordination with Italian tax advisors for optimal structuring
  • Family coordination: Managing applications for spouse, children, and dependents

Get a Free Consultation →


Next Steps

Ready to explore Italy's Golden Visa? Here's how to proceed:

  1. Assess eligibility: Review the requirements above or contact us for a free eligibility check
  2. Choose your investment route: Consider your risk tolerance, capital availability, and goals
  3. Gather documents: Start collecting passports, criminal records, and financial documentation
  4. Engage professionals: Work with immigration lawyers and investment advisors
  5. Submit your Nulla Osta application: Begin the formal process through the official portal

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Updated: February 2026

Sources: Italian Ministry of Economic Development (investorvisa.mise.gov.it), Italian Ministry of Foreign Affairs