Legal basis: DL 50/2017 (Decreto Crescita), Art. 26-bis D.Lgs 286/1998. The Investor Visa grants a 2-year renewable residence permit to non-EU nationals who make a qualifying investment in Italy.

The Four Investment Tiers

€250,000
Innovative Startup

MIMIT-registered startup

30% Italian tax deduction. Highest risk/reward.

€500,000
Established Italian Company

S.p.A. or S.r.l. equity

Equity investment only (not debt). Italian operations required.

€1,000,000
Government Bonds (BTP)

Italian Titoli di Stato

Lowest risk. BTP 10Y yield ~3.5–4.5% (2026).

€1,000,000
Philanthropic Donation

Culture, education, research

Non-returnable. Art Bonus 65% tax credit on cultural donations.

Step-by-Step Application Process

1
Choose your investment tier and structure
Italy's Investor Visa (DL 50/2017, Art. 26-bis TU Immigrazione) offers four investment tiers: (A) €250,000 in an innovative startup registered in the MIMIT registry; (B) €500,000 in an existing Italian S.p.A. or S.r.l. company; (C) €1,000,000 in Italian government bonds (Titoli di Stato BTP); (D) €1,000,000 in philanthropic donations to Italian culture, education, research, or immigration management. Each tier has different due diligence requirements, return profiles, and risk levels.
💡 Tip: The startup tier (€250k) offers a 30% Italian tax deduction on the investment under DL 179/2012 — effectively reducing the net cost to €175,000 for Italian taxpayers or those using the Impatriate Regime.
2
Conduct legal and financial due diligence on the investment target
For startup investments: verify the company is listed in the MIMIT Startup Innovativa registry (registro.mise.gov.it), review articles of incorporation, financials, cap table, and any existing investor agreements. For established companies: review audited accounts (bilanci), shareholding structure, pending litigation, and any encumbrances on the shares. For government bonds: bonds must be issued by the Italian Republic and purchased through an authorised Italian or EU intermediary. For philanthropic donations: the beneficiary institution must be pre-approved by the Comitato per i Visti d'Investimento.
3
Obtain a Nulla Osta from the Comitato per i Visti d'Investimento
Before applying for the visa, you must submit a pre-screening application to the Comitato per i Visti d'Investimento (the Italian government committee that oversees investor visas). Submit: personal documents (passport, criminal record), detailed investment plan, proof of funds (bank statements for last 12 months demonstrating you hold the investment amount), and due diligence materials on the investment target. The committee issues a Nulla Osta (clearance letter) within 30 days if your application is complete and satisfactory.
4
Make the investment — AFTER receiving the Nulla Osta
Do not make the investment before receiving the Nulla Osta — the committee must approve your investment plan first. Once you have the Nulla Osta, proceed with the investment: transfer funds to the Italian company/bank/institution, execute share purchase or subscription agreements, and obtain confirmation of the transaction. For government bonds: purchase through an Italian bank or licensed broker and obtain a statement confirming the purchase. Keep all transaction documentation — you will need to prove the investment was made within 3 months of your visa being issued.
5
Apply for the Investor Visa at the Italian consulate
With the Nulla Osta in hand, apply for the Investor Visa (visto per investitori) at the Italian consulate in your country of residence. Required documents: Nulla Osta from the committee, valid passport, 2 passport photos, proof of investment (or confirmation of funds earmarked), health insurance certificate (min. €30,000), clean criminal record (apostilled), proof of accommodation in Italy. The investor visa is issued as a Type D national visa, typically within 2–4 weeks of a complete application.
6
Enter Italy and apply for the Permesso di Soggiorno per Investitori
Enter Italy before the visa expiry date. Within 8 working days, apply for the Permesso di Soggiorno per Investitori at a Sportello Amico post office (same process as other long-stay visas). The investor permit is issued for 2 years and is renewable in 3-year blocks — unlike other permits which renew annually. Bring: passport, visa, Nulla Osta, investment documentation, accommodation contract, 4 passport photos, €107.50 in stamps plus €30 post office fee.

The HNWI Power Combination: Investor Visa + €300k Flat Tax

Italy's Investor Visa combined with the Art. 24-bis TUIR flat tax regime is one of the most competitive HNWI relocation packages in Europe.

Example: HNWI with €5M annual foreign income

Without flat tax: IRPEF at 43% = €2,150,000/year. With €300k flat tax: €300,000/year. Annual saving: €1,850,000. Over 15 years: ~€27,750,000 total saving.

Frequently Asked Questions

Can I combine the Investor Visa with the €300,000 flat tax?
Yes — this is the definitive HNWI combination. The Investor Visa gives you Italian residency; the €300,000 flat tax (Art. 24-bis TUIR) gives you a fixed annual tax on all foreign-source income. You apply for the flat tax regime when filing your first Italian tax return (Modello Redditi PF). Conditions: you must not have been an Italian tax resident in 9 of the previous 10 years. We recommend filing the flat tax ruling request (interpello) with the Agenzia delle Entrate before you relocate.
Can I include family members in the Investor Visa?
Yes. Your spouse, minor children, and dependent adult children can all join you in Italy via family reunification (ricongiungimento familiare) once you have your Permesso di Soggiorno per Investitori. Family members receive their own residence permits. Additionally, family members can be added to the €300,000 flat tax regime at €25,000 each per year — still extremely tax-efficient for high-income families.
What happens to the Investor Visa if my startup fails?
The investment must be maintained for the duration of the visa and permit. If a startup investment fails (the company goes insolvent), you may lose the qualifying investment. At renewal, authorities will check that you still hold the qualifying investment. If the investment is lost through no fault of your own (company insolvency), authorities take a case-by-case approach — having alternative investments or being able to demonstrate reinvestment may protect your renewal. We recommend working with a legal advisor from the start to structure downside protections.
Can the philanthropic donation route qualify for any tax benefits?
Yes. Donations to Italian cultural institutions (museums, foundations, cultural heritage bodies) may qualify for the Art Bonus tax credit — a 65% tax credit on the donated amount, up to 15% of taxable income. This effectively means a €1,000,000 donation to a qualifying cultural institution could generate a €650,000 tax credit usable against Italian taxes over 3 years. The donee institution must be on the Art Bonus approved list (artbonus.gov.it).