Europe

Financial Independence Residency

Italy
Italy grants residence permit for financially independent individuals (Residenza Elettiva) for those who can prove a permanent, high passive income. Wealthy foreigners can obtain a special type of residence permit at their chosen place of residence. The holder of this type of residence permit will not be eligible to work or conduct business in the country, unlike the business immigration program
A residence permit gives the right to permanent residence in Italy and the ability to travel without visas to the countries of the European Union. If a foreigner is absent from the country for more than 6 consecutive months, the extension of the residence permit based on Residenza Elettiva may be refused.

You can apply for Italian citizenship after 10 years of living in the country with a residence permit

Requirements:
✅ Have a high passive income – at least 31,000 Euro per year
✅ If the applicant’s spouse also receives a residence permit, then the minimum income is increased by 20%
✅ For each child included in the application, another 5% is added
✅ The foreigner must prove to the Italian authorities that he has a high income that remains uninterrupted in the future and does not depend on his place of residence

Possible sources of income:

  • renting out real estate
  • interest on deposits
  • dividends
  • income from business activities
  • pension


Process:

✅ Submit documents to the Visa Application Center or the Italian Consulate in your home country to obtain a long-term type D visa based on your chosen place of residence. Proof of real estate and passive income is required. All documents must be translated into Italian. The visa processing time is max 90 days.
✅ Apply for a residence permit based on the chosen place of residence – Permesso di soggiorno per residenza elettiva – within 8 days after arriving in Italy on a visa D. Documents confirming the presence of housing and passive income are submitted to the police department of Questura at the place of residence. You also need to go through the procedure for submitting biometric data.
✅ Get a residence permit card 20 days after applying.

Documents:

✅ International passport
✅ Documents for real estate in Italy: an agreement of intent to purchase a property and a certificate of payment of a deposit, an agreement of sale or long-term lease
✅ Documents confirming passive income for the last year: rent, royalties, dividends, income from bank deposits, income from securities, pension
✅ Receipts for payment of state fees for the issuance of a D visa and residence permit
✅ Motivation letter in English or Italian explaining the desire to live in Italy
✅ Documents confirming relationship – certificates of marriage and birth of children
✅ Medical insurance valid in Italy
✅ Zero Crime Record (with apostle)