A new visa has been introduced by Italy with hopes to attract new business ventures, which offers some tax benefits for those who pursue it. There is a belief that in using this new option, it will help you establish a way to live and work in Italy. It is open to non-EU citizens who want to invest in economic activities. This following information was lifted from an article found on www.thelocal.it:
- To obtain a visa, non-EU investors must obtain a nulla osta (certificate of no impediment) issued by the Investors Committee for Italy (IV4I). The procedure is quick: it is concluded within 30 days of sending a complete application. It is free and entirely online;
- After obtaining the nulla osta, the application for an investor visa must be submitted to the diplomatic mission of your place of residence within six months;
- Once you receive the visa, you have two years to enter Italy.
With the residence permit for investment you can:
- Circulate freely for the Schengen Area for a maximum period of 90 days within 180 days;
- After five years of regular residence in Italy, you can apply for an EU residence permit for long-term residents;
- After ten years of residence, you can apply for Italian citizenship.