Below we discuss how to obtain an Italian residence permit through Residenza Elettiva, and cover the main nuances of this procedure.
Applicant Requirements
Wealthy foreign nationals with a legal income in another country can apply for Residenza Elettiva, or an "elective place of residence in Italy." In addition, candidates for official status must own property located in Italy.
Residenza Elettiva is a category D national visa. It suits foreign nationals who wish to obtain a residence permit in Italy and live permanently in the country and across the EU. This visa does not grant the right to work.
To obtain this type of residence permit, you need to confirm passive income in another country (the candidate must receive at least 2,580 EUR per month, or at least 31,000 EUR per year). In this case, income refers to:
- a pension;
- profit earned from investing in securities;
- interest on deposits;
- income earned from copyright;
- proceeds from renting out property, and so on.
Employment income does not count as proof of financial independence. So citizens receiving a high salary from employment cannot apply for a residence permit on this basis.
The main applicant's spouse and children can also take part in the Residenza Elettiva program. However, in that case, the minimum income requirement increases proportionally to the number of family members:
- if only the spouse is added to the application, 20% is added to the minimum income amount;
- for each child, a further 5% must be added.
Owning a marketable property is not a mandatory requirement. To be granted official status, you can alternatively sign a long-term residential lease agreement. However, in either case, the foreign national needs to register at the chosen place of residence and not forget to pay the taxes required under Italian law.
Which Documents an Italy Resident Needs to Prepare to Open a Visa
The application is completed in one of two languages: Italian or English. Foreign nationals applying for official status file their application at the Italian consulate located in their country of permanent residence. The following documents must be attached to this application:
- a copy of the foreign passport and a copy of the domestic passport;
- documents confirming an official source of income (a salary statement is not grounds for granting a residence permit);
- title documents for a marketable property or a long-term residential lease agreement;
- a motivation letter in which the applicant explains the reasons for their relocation (completed in English or Italian);
- a marriage certificate (if the applicant's spouse wants to obtain the residence permit too);
- a birth certificate (if the main applicant's children are included in the application).
Before filing the application, the visa candidate needs to pay the consular fee (116 EUR).
This list is not exhaustive. In some cases, the consulate may request additional certificates.
The Financially Independent Persons Visa: Stages of Obtaining It
On average, the process of obtaining the residence permit takes four months, and it can be roughly divided into the following stages:
Preparing documents and filing the application at the Italian consulate. Before filing the application, the candidate also needs to pay the consular fee. This stage takes at least 7 days.
- Review of the application. The law sets clear deadlines: the application must be reviewed within no more than 90 days. In practice, however, a decision is issued within 30 days.
- If the consul makes a positive decision, the applicant and their family members are invited to have the Residenza Elettiva visa affixed to their passports. It is important to note that the visa is valid for only one year. During this time, the foreign national needs to travel to Italy and deal with obtaining the residence permit.
- Obtaining the residence permit. From the moment of crossing the Italian border, the applicant and their family have only eight days to file the residence permit application. The documents are submitted at the local police station. At this point, the Residenza Elettiva visa holder needs to provide biometric data and pay the state fee (112 EUR).
- Issuing the residence permit. The candidate's application is reviewed within 60 days. This is an approximate timeframe, as in some situations it may be extended or shortened.
Residence Permit Validity and Renewal Conditions
A residence permit issued via the Residenza Elettiva visa is valid for two years. It can be renewed if desired.
The renewal application is also filed at the police station. Alongside the main document package, the applicant needs to attach a copy of the current residence permit and a document confirming Italian tax resident status (if they have one).
Reasons for a Residenza Elettiva Visa Refusal
- A consulate representative can decline an application for the most common reasons: incorrect completion of documents or a missing document;
- translation inaccuracies in English or Italian;
- providing false information about yourself or withholding important information;
- an inability to confirm passive income;
- lack of stable income at a level that meets the program's requirements.
Before gathering documents and filing an application, it is important to carefully read the terms for obtaining the Residenza Elettiva visa. If any questions arise, we recommend seeking help from the specialists at MIRBEZVIZ.
Alternative Ways to Obtain an Italy Residence Permit
Residenza Elettiva is not the only program that provides the option of obtaining official status. Today, many financially independent foreign nationals obtain a residence permit through the Investor Visa for Italy program (launched in 2017).
This program has four options
- investing at least 250,000 EUR in an Italian startup;
- investing at least 500,000 EUR in local companies;
- a donation of at least 1 million EUR to projects related to education, culture, scientific research and nature;
- buying bonds issued by the Italian treasury, worth at least 2 million EUR.
The main investor's spouse, children and parents can also take part in the Investor Visa for Italy program.
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