The Investor Visa for Italy programme attracted approx. € 40 million of foreign investments in strategic areas for the development and competitiveness of Italy.
The Ministry of Economic Development (MISE) launched the Investor Visa for Italy programme in November 2017. The programme consists of a simplified procedure to grant a new type of entry visa for non-EU citizens who intend to make an investment or donation in the following strategic assets for Italy:
- an investment of € 2 million in Italian government securities;
- an investment of € 500 thousand in an Italian corporation;
- an investment of € 250 thousand in an innovative startup (under Decree-Law 179/2012);
- a donation of € 1 million in philanthropic activities.
The Investor Visa allows the holder to obtain a 2-year residence permit, issued at arrival on the Italian territory, renewable for further 3-year periods (for more info read: Investor Visa for Italy: key info).
As of 31 December 2021, the MISE registered 64 applications, from 20 countries, with an approval rate of 78.1%. Most applicants opted for investments in Italian corporations (43), followed by investments in innovative startups (9), government bonds (10) and philanthropic donations (2).
There was a significant increase in applications received in 2021 (40 new applications). This is mainly due to the halving in the minimum investment thresholds into Italian corporations and startups introduced by Decree-Law no. 34 of 19 May 2020, the so-called Relaunch Decree (from € 1 million to € 500 thousand for corporations; from € 500 thousand to € 250 thousand for startups).
The total foreign capital invested in Italy amounted to € 40.1 million. In particular, considering only the 50 successful applications, total investments amounted to € 18 million. Investments expected from successful applications represented a further € 22.1 million,
Applicants for the Investor Visa for Italy come from 20 different countries. The top countries in terms of visa applicants are the United States (14) and Russia (14), accounting for 21.9%. The United Kingdom follows with 7 (10.9%) applications.
The 64 investors reported their intention to settle in 19 provinces and 10 different regions. Milan is the first city, with 21 candidates (32.8%). Rome follows with 13 applications (20.3%), and then Florence and Sassari with 4 applications, respectively.
The applications are evaluated by a committee of experts, chaired by the Ministry of Economic Development, which includes representatives from the Ministry of Foreign Affairs, the Ministry of the Interior, the Bank of Italy, the Guardia di Finanza, the Revenue Agency and the ICE Agency, the Ministry of Cultural Heritage and Activities and the MUR.
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You can download the detailed report (in Italian) at the following link: https://www.mise.gov.it/images/stories/documenti/1_Relazione_monitoraggio_Investor_Visa_Dicembre_2021pdf.pdf