Maybe you want Italian residency, but don’t have a clear path to Italian citizenship and are wondering about your options. The good news is you may be eligible for a visa to make your dream a reality.
Visas to study or work in Italy are the better-known pathways, but there’s also a visa designed for people envisioning a more leisurely lifestyle without needing to earn a living. Known as the Elective Residency visa, though not a new option for foreigners seeking residency in Italy (a decree for the Elective Residency visa was passed in 2011), there’s a renewed spotlight on this visa due to rising demand: As the pool of foreigners with Italian ancestry who qualify for Italian citizenship is shrinking (due to the reinterpretation of Italian citizenship by descent rulings), people are seeking other solutions and professional services that can help.
We asked the experts at Italian Citizenship Assistance and Italian Real Estate Lawyers, who help foreigners move to Italy, to break down what it takes to get this Elective Residency visa and, in tandem, how to purchase real estate or secure a lease contract, which is one of the stipulations to getting that visa and creating a life in Italy.
What is an Elective Residency visa?
People aged 18 and over with passive incomes — meaning they will not work in Italy, and will rely on existing financial assets, such as annuities, stocks, pensions and bonds — may apply for an Elective Residency visa. Because foreigners with this visa are not permitted to work, it is often called a retirement visa, but it’s not for an extended holiday; it’s for people who want to build a permanent home in Italy and commit to making Italy their primary residence.
The visa lays the groundwork for a 365-day stay in Italy and, like other visas, involves applying for a residence permit upon arrival in Italy, which may be renewed each year; under Italian law at the time of this writing, after five years of residency, foreigners can apply for a long-term residence permit in Italy, and after 10 years, Italian citizenship.
Who can apply, and what are the requirements for Elective Residency?
One of the most strictly regulated visas (given the financial threshold required and the prohibition on working), Elective Residency must be applied for at the Italian consulate in the country where the foreigner has residency, not in Italy.
One of the major hurdles to applying for the visa is getting an appointment at an Italian consulate, with long wait times, depending on where you go. Another obstacle is the income requirement. At the time of this writing, the passive income required to qualify to apply for Elective Residency was generally around €31,000 per person per year. Minor children and dependent children over 18 living with their parents can also come along, as long as the visa applicant demonstrates adequate financial assets to support them. Among the documents required for the visa application are proof of this passive income and housing. For housing, a lease, rental contract, or deed for property in Italy is required; if a lease or rental agreement, the duration needs to be for at least 365 days.
How can you purchase property with Italian residency?
Even without a visa, a foreigner can sign a lease or buy property in Italy, though the housing question can be a major one for foreigners who don’t speak Italian or who need to plan their move from a distance. Generally, the approach is to secure a property, whether through a property purchase or a long-term rental contract, and then proceed with requesting an appointment at the consulate for the visa application.
Having a clear budget and keeping in mind that the average cost of living in the north of Italy is higher than in the south can help determine where to focus a housing search, and studying the Italian real estate market can also help. Once you have defined your desired region and budget, hiring a real estate professional can greatly simplify the process of finding a home from a distance or coordinating viewings within a specific time frame during a visit. These professionals can also help filter out properties that may have underlying issues, such as zoning complications, which could lead to unexpected legal problems. It is strongly recommended to also check all details with the assistance of a legal professional before purchasing a property, as taking this extra step can help save time and money in the long run.
Through the process of securing a visa and the requirements to apply for it, a key is to be flexible and open to delays. That’s where working with a professional can help keep you on track with your goals.
If you are planning on relocating to Italy or applying for Italian citizenship, and you need advice, feel free to contact Italian Citizenship Assistance at info@italiancitizenshipassistance.com. If instead you’re looking to purchase or rent property in Italy, contact its partner firm, Italian Real Estate Lawyers at info@italianrealestatelawyers.com.
