The Italian Elective Residence Visa
The Italian Elective Residence Visa is for foreigners – retired persons, persons with high self-sustaining incomes and financial assets – who have chosen Italy as the country of permanent residence and who are able to support themselves autonomously.
The Italian law provides for the issuance of national visas of “elective residence” or, in implementation of the Schengen rules, of tourist visas, multi-entry longterm (up to 5 years). National visa for elective residence: The visa for elective residence permits to enter Italy, for the purpose of the stay, for the foreigner intending to settle in Italy and is able to support him/herself, without working. To this end, the foreigner must provide adequate and documented proof of availability of accommodation to be fixed as a residence (Art.13, All. A Inter-ministerial Decree no. 850 of 2011), and abundant independent economic resources, stable and regular, of which we can reasonably assume the continuity in the future. These resources, however not less than 31,000 euro/year, will have to come from the ownership of considerable incomes (pensions, annuities), the possession of real estates, the ownership of stable business activity or from other sources other than the employment. Also to the spouse cohabitant, to minors/adult children cohabiting and dependents, it may be issued a similar visa, provided that the above mentioned financial capabilities are considered appropriate also for the latter. In particular, in case of requesting a visa also for the spouse, the amount of monthly income must be increased by at least 20%. The increase will be at least 5% for each child for whom the visa is requested.
The Embassy, in case of purchasing a residential property in Italy, it is necessary to proceed to apply the “minimum income requirement” established by Italian legislation (EUR 31,000.00 euro/year).
The duration of Elective Residence visa issued by the Italian diplomatic Missions will be of one (1) year, easily renewable in Italy at the competent territorial Police Headquarters (Questura), on condition, obviously, that the original requirements continue to be maintained over time. Within 8 days from the arrival in Italy, it will be necessary, similarly for all types of long term visas, to submit the application for the conversion of the entry visa into a residence permit. With this type of visa, it is not possible to work in Italy.
The residence permit cannot be renewed or extended if the foreigner interrupts the stay in Italy for a continuous period that exceeds six (6) months, unless such interruption is caused by the need to fulfill the military service or for other serious reasons (Art. 13 of Presidential Decree 394/1999).
After the fifth year, it is possible to apply for the long-term residence Card, with a validity of five (5) years.
After ten (10) years, it is possible to apply for the Italian citizenship. Long Term Tourist SCHENGEN Visa (five years): If the need to stay in Italy does not exceed 90 days per semester, or if there isn’t any intention to transfer the residence in Italy, those who intend to make a property investment in Italy, can get a long-term Schengen Visa (5 years).
The requirements to apply for this type of Visa are the same as those for a normal Tourist Visa, in addition to the proof of having completed the purchase of a property in Italy. Visa to go to Italy to carry out inspections and buy properties: The interested person must apply for a normal Tourist Visa. The application must be accompanied by a letter that explains the reasons of the visit to Italy, and must be accompanied by a letter of invitation from an Italian Real Estate agency duly registered. The visa will be issued with a validity of six months, for stays up to 90 days.
General information on Visas are available in the following link: http://vistoperitalia.esteri.it/home.aspx