What happened? The Italian Investor Visa was launched at the end of 2017 and has been in effect since 2018. It has witnessed a sharp surge in demand in 2021 compared to 2020. But earlier the authorities admitted that they were dissatisfied with the results of the program.
According to the first statistical report on the results of the relevant program from the Italian Ministry of Economic Development, the authorities received 40 applications from investors in 2021, whereas in 2020 this number was only 11, and 6 in 2019. Since the start of the program, 64 applications have been submitted, and 50 - approved.
Reasons. The report of the Italian ministry says that the noticeable increase in interest in the program is due "in part to the new rules published in May 2020." Recall that at that time the minimum threshold for participation in the program was halved for both investors in ordinary business and startups.
The interlocutors of the IMI publication, however, believe that there is another very important reason for the growth of demand for the program.
Quote. "The law, issued in December 2020, freed investors in the golden visa from the need for mandatory physical presence in the country, which until that moment was required from holders of all categories of resident visas in Italy," says Marco Bersani, founder of Bersani & Partners International Law.
Previously, investors were required to stay in Italy for most of the year, which was considered a clear disadvantage of the program in the global investment immigration market. Now, the investor visa of Italy has become the most liberal "golden visa" among all European ones on the requirement to stay in the country.
What else? Another change that increased the attractiveness of the scheme was the permission to invest in it not only for individuals but also for companies.
Ways to invest in the program:
Read more about every way to get an Italian residence permit here.
According to the report, investors prefer corporate investments to private ones. Of the 64 applications received during the entire duration of the program, 43 were related to investments in Italian companies. And this is despite the entry threshold for this option of €500,000, which is twice as high as the corresponding startup category.
Who wants it? The distribution of applicants by nationality is very different from the corresponding indicator for other European programs of this kind. As many as 41% of applications came from English-speaking applicants. While Americans and Russians have submitted 14 requests for the entire duration of the scheme, the share of Britons was 11%, and the share of Canadians was 8%. Interestingly, the Chinese, who are usually active in the European investment migration market, are associated only with every 20th application.
Regions. It turned out that most investors indicate the northern regions as a place to live in Italy (even though there is no requirement to live). Most applicants choose the Greater Milan region, including Novara, Varese, and Como.
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