Residency by Investment
The Italy Golden Visa program, officially known as the Investor Visa for Italy, offers non-EU investors a streamlined pathway to residency through strategic investments. This program grants a two-year residence permit, renewable for three-year periods. The initial application process typically takes approximately 4 months. After ten years of legal residency in Italy, the Golden Visa holder can apply for Italian citizenship.
Investment Options
The program offers four distinct investment methods:
- €2 million investment in Italian government bonds. This option is suitable for investors seeking a relatively stable and low-risk investment.
- €500,000 investment in an Italian limited company. This option supports the Italian business sector and can offer potential returns depending on the company's performance.
- €250,000 investment in an Italian innovative startup.This option is ideal for those interested in the entrepreneurial ecosystem and innovation.
- €1 million donation to a philanthropic initiative in Italy.
Eligibility Criteria
To be eligible for the Investor Visa for Italy, applicants must meet the following criteria:
- Be over 18 years old.
- Have sufficient capital to invest.
- Be able to prove the legality of the income.
- Make a written commitment to investing in the Italian economy.
- Have no criminal records or prosecutions.
- Have valid health insurance.
Application Process
The application process for the Italy Golden Visa can be summarized as follows:
- Apply for a Nulla Osta (certificate of no impediment) through the official portal of the Italian investor visa. A Nulla Osta is an official document that certifies there is no impediment to your application.
- Submit an application for a two-year investment visa at the Italian embassy or consulate in your home country.
- After arriving in Italy, submit an application for a residence permit (Permesso di Soggiorno) at a local police station (Questura) within eight days. A Permesso di Soggiorno is an official document that allows foreign nationals to legally reside in Italy.
- Complete the investment or donation within three months of arriving in Italy.
It's important to note that there is no residency requirement for the Italy Golden Visa, unlike some other Golden Visa programs. This means that you are not obligated to live in Italy to maintain your residency status. However, if you plan to apply for Italian citizenship after ten years, you will need to fulfill certain residency requirements.
Another advantage of the Italy Golden Visa is the special tax regime option for investors who become tax residents in Italy. This allows you to potentially save on taxes on income earned outside of Italy for 15 years.
Residency for Entrepreneurs
For entrepreneurs who want to relocate to Italy and establish a business, there are several visa options available. These include:
- Italy Startup Visa: This visa is issued to foreigners who want to open an innovative company in Italy.
- Italy Freelancer Visa: This visa is issued to individuals who intend to take up self-employed, freelance work.
- Italy Entrepreneur Visa: This visa is issued to foreigners who want to implement an investment plan that is beneficial to the Italian economy.
Eligibility Criteria
The eligibility criteria for these visas vary depending on the specific visa. However, in general, applicants must be able to demonstrate that they have a viable business plan, sufficient financial resources, and the necessary skills and experience to run a successful business in Italy. The primary investor can also extend the residency benefits to immediate family members, including a spouse, dependent children, and dependent parents.
Application Process
The application process for entrepreneur visas also varies depending on the specific visa. However, in general, applicants must submit a business plan, proof of financial resources, and other supporting documents to the Italian embassy or consulate in their home country.
Citizenship by Residency
After ten years of legal residency in Italy, foreign nationals can apply for Italian citizenship through naturalization. To be eligible, applicants must meet certain requirements, including:
- Having resided in Italy for at least 10 years.
- Having sufficient income to support themselves and their family.
- Having no criminal record.
- Passing an Italian language test.
- Demonstrating regular fulfillment of tax obligations.
- Demonstrating the ability to fulfill economic and social solidarity obligations.
Income Requirements
The specific income requirements for citizenship by residency are as follows:
- Single applicants: €8,263.31 per year
- Applicants with a spouse: €11,362.05 per year
- Additional amount per dependent child: €516 per year
Education in Italy
Education in Italy is compulsory for children from 6 to 16 years of age. Public education in Italy is free to all children, including foreign nationals who are residents in Italy. The Italian education system is highly regarded and offers a variety of educational options for children of all ages.
Levels of Education
The levels of school education in Italy are divided as follows:
- Pre-primary education: This level is intended for children aged 3 to 6 years. It is not compulsory and is provided by nursery schools and preschools.
- Primary education: This is the first level of compulsory education in Italy and takes place in primary schools. It covers five years, from ages 6 to 11.
- Lower secondary education: This is the second level of compulsory education and covers three years of education for students aged 11 to 14.
- Upper secondary education: This is the third level of compulsory education and includes different types of schools depending on the chosen study path, such as high school, technical school, or vocational school.
- Higher education: This is the highest level of education and includes university courses and higher technical education and training courses.
Compulsory education in Italy includes primary school, middle school, and high school.
Types of Schools
The national system of compulsory education is divided into the following types of schools:
- Public schools: These are educational institutions funded and managed by the State. They are open to all students and offer free education.
- Private schools: These schools are privately funded and may offer different curricula or teaching methods.
- Charter schools: These are publicly funded but independently operated schools.
Right to Education
In Italy, the right to education is guaranteed to all minors, regardless of their country of origin, citizenship, or the legality of their stay in Italy. This means that all children in Italy have the right to attend school, regardless of their immigration status.
School Enrollment
Parents can enroll their children in school either online or in person.
Online Enrollment:
To access the online enrollment procedure, parents must have a digital identity (SPID, CIE, or eIDAS). They can then access the dedicated portal on the MIUR website and fill out the application form provided by the chosen school.
In-person Enrollment:
The enrollment application can be submitted directly to the school's administrative office in the following cases:
- For those who have just arrived in Italy and are enrolling during the academic year.
- If the parent does not yet have a digital identity.
- In the absence of civil documentation or with irregular or incomplete documentation.
Education Options for Children
Italy offers a diverse range of educational options for children, catering to various needs and preferences. These options include:
Public Schools
Public schools in Italy are free for all residents, including foreign nationals. They follow the national curriculum and offer a high standard of education. The quality of public schools can vary, with schools in the north of the country generally considered to be better equipped and have higher standards.
Private Schools
Private schools in Italy are typically run by religious organizations or offer alternative teaching methods, such as Montessori education. While they follow the same national curriculum as public schools, they may offer smaller class sizes, better facilities, and a wider range of extracurricular activities.
International Schools
International schools are a popular choice for expat families who want their children to continue studying the curriculum of their home country or who are looking for a more internationally-focused education. These schools offer a variety of curricula, including American, British, French, German, and the International Baccalaureate (IB). However, international schools can be expensive and may create a "cultural bubble" that limits children's integration into Italian society.
Boarding Schools
For families seeking a more structured and immersive educational experience, Italy also offers a number of boarding schools. These schools provide students with accommodation and meals, as well as a range of academic and extracurricular activities.
Quality of Education
While public education in Italy is generally of high quality, there are some regional variations in standards. Schools in the north of the country tend to perform better in international assessments, such as PISA, while schools in the south have shown weaker results. The Italian education system has a strong emphasis on academics and aims to develop students' critical thinking and problem-solving skills. It also prioritizes inclusivity for children with special needs, ensuring that all students have access to quality education.
Subsidized Education Options
In addition to free public education, there are also a number of subsidized education options available to children of Italian residents and citizens. These include:
Assegno Unico e Universal per I Figli a Carico (Single and Universal Allowance for Dependent Children)
This child benefit is available to all families with dependent children in Italy. The amount of the benefit varies depending on the family's income and the number of children.
Bonus Asilo Nido (Kindergarten Bonus)
This bonus helps pay for children's education in day nurseries (asilo nido).
Fondo Unico (Single Fund)
This fund helps families of secondary school students cover the cost of school supplies.
Benefits of Italian Residency/Citizenship
Obtaining Italian residency or citizenship offers a number of advantages, including:
- Visa-free travel within the Schengen Area: This allows you to travel freely to 26 European countries without needing a visa.
- Access to the Italian healthcare system: Italy has a renowned public healthcare system that provides high-quality, affordable healthcare to all residents.
- Potential tax benefits: Italy offers a special tax regime for new tax residents, which can significantly reduce your tax liabilities.
- Right to live and work in any EU country: Italian citizens have the right to live and work in any of the 27 EU member states without restrictions.
- Access to social benefits: Italian citizens have access to various social welfare benefits, including pensions, unemployment benefits, and other social security bonuses.
Synthesis
Italy presents a compelling proposition for investors and entrepreneurs seeking a new home for their families. The Italy Golden Visa program offers a straightforward path to residency through investment, while various entrepreneur visa options cater to those wishing to establish a business in the country. Both pathways lead to the possibility of obtaining Italian citizenship after ten years of residency.
One of the most significant advantages of Italian residency and citizenship is access to the country's high-quality education system. Public education is free for all residents, and there are numerous subsidized options available to help families with the costs of childcare and school supplies. With its rich cultural heritage, beautiful landscapes, and excellent quality of life, Italy provides an ideal environment for families to thrive and for children to receive a world-class education.
Lusine Sargsyan
Attorney