Portugal
Spain
Italy
Greece
Grenada Citizenship by Investment
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
QUICK SUMMARYBottom 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
| Feature | Italy Golden Visa | Portugal Golden Visa | Greece Golden Visa |
|---|---|---|---|
| Minimum Investment | €250,000 (startup) / €500,000 (company) | €250,000 (cultural) / €500,000 (fund) | €250,000-€800,000 (real estate) |
| Real Estate Route | Not available | Eliminated October 2023 | Available (main route) |
| Processing Time | 3-4 months | 12-18 months (backlog) | 2-3 months |
| Initial Permit | 2 years | 2 years | 5 years |
| Path to PR | 5 years | 5 years | 7 years |
| Path to Citizenship | 10 years | 5 years | 7 years |
| Key Advantage | Pre-approval before investing, lowest entry point | Fastest citizenship in EU, minimal stay (7 days/year) | Real estate investment, longest initial permit |
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.
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)
- Those seeking fast citizenship — 10 years is longer than Portugal (5 years) or some Caribbean programs (immediate)
- Seeking guaranteed returns — the €250,000 startup route carries genuine investment risk (though the pre-approval process reduces procedural 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
- Lowest entry point in Europe – €250,000 vs. €500,000+ in Portugal and Malta
- Pre-approval model – Government clearance before you invest a single euro
- No minimum stay for renewal – Maintain investment, keep permit
- 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
- 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
- Bureaucracy – Italy's administrative processes can be slow
- Investment monitoring – Must maintain investment for full permit duration
- No EU passporting – Residence permit doesn't allow working in other EU countries
Costs and Fees
Government Fees
| Fee Type | Amount |
|---|---|
| Nulla Osta Application | Free |
| Type-D Visa | ~€116 |
| Residence Permit (Permesso) | ~€126 |
| 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 and 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: 50% income tax exemption for workers relocating to Italy (60% with minor children)
Tax planning is complex — consult a qualified advisor before relocating.
Italy Golden Visa vs. Other European Programs
How does Italy compare to Portugal, Greece, and Malta?
| Feature | Italy | Portugal | Greece | Malta |
|---|---|---|---|---|
| Minimum Investment | €250,000 | €500,000 | €250,000 | €690,000+ |
| Real Estate Route | No | No (ended 2024) | Yes | Yes |
| Processing Time | 3-4 months | 12-18 months | 2-6 months | 4-6 months |
| Minimum Stay | None for renewal | 7 days/year | None | None |
| Path to Citizenship | 10 years | 5 years | 7 years | 12+ months (CBI) |
| Schengen Access | 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.
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 | Medium City | Small Town |
|---|---|---|---|
| Rent (2-bed) | €1,500-2,500/mo | €900-1,400/mo | €400-700/mo |
| Groceries | €400-500/mo | €350-450/mo | €250-350/mo |
| Utilities | €150-200/mo | €120-160/mo | €80-120/mo |
| Dining out | €15-30/meal | €12-25/meal | €8-18/meal |
| Transport | €40-60/mo | €40-50/mo | 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
- 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:
- Maintain the qualifying investment throughout the permit period
- Apply for renewal at least 60 days before expiry
- 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?
- Not legal or tax advice: This article is for informational purposes only. Immigration and tax laws change frequently—consult qualified Italian professionals before making decisions.
- Investment risk: Qualifying investments, particularly in startups, may result in partial or total loss of capital. Past performance does not guarantee future results.
- Processing times: Timelines are estimates and may vary based on application complexity and government workload.
Frequently Asked Questions
Can I get Italian residency by buying property?
No. Unlike Portugal (before 2023) or Greece, 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). Note: Spain's Golden Visa ended in April 2025.
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 October 2023) or Greece, 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. (Note: Spain's Golden Visa program ended in April 2025.)
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. Dependent parents can be included if they are financially reliant on you and have no other means of support. While this often applies to parents over 65, there is no strict age requirement — parents of any age may qualify if they can demonstrate genuine financial dependence. 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
Ready to explore Italy's Golden Visa?
Get expert guidance on investment options, eligibility, and the application process.
Get a Free ConsultationNext Steps
Ready to explore Italy's Golden Visa? Here's how to proceed:
- Assess eligibility: Review the requirements above or contact us for a free eligibility check
- Choose your investment route: Consider your risk tolerance, capital availability, and goals
- Gather documents: Start collecting passports, criminal records, and financial documentation
- Engage professionals: Work with immigration lawyers and investment advisors
- Submit your Nulla Osta application: Begin the formal process through the official portal
Updated: February 2026
Sources: Italian Ministry of Economic Development (investorvisa.mise.gov.it), Italian Ministry of Foreign Affairs