Ep.4 - Elective Residency Visa - Golden Visa

05/03/23 • 27 min

Episode 4. The Elective Residency Visa in Italy – Non working visa – Also know as Retirement Visa. Is it the "Italian Golden Visa"?
Peculiarities and misconceptions.
Tax Incentives.

In this episode, we discuss the Elective Residency Visa in Italy, a special type of visa that allows foreign nationals to stay in the country for longer than 90 days without working. We shed light on the details of this visa scheme and its application process.
Firstly, the guest explains that the elective residency visa is intended for people who wish to reside in Italy without pursuing any work activity. They also emphasise the importance of respecting this requirement and showing that you have a so-called passive income. Some examples of passive income are: pensions, social security benefits, rental income from owned properties, corporate dividends, royalties, etc.
Your documents must prove your ability to generate new "fresh" (passive) income and you must prove that these income can be reasonably expected to continue over time.
You cannot rely simply on investments.
The host further explains that the elective residency visa while include the word "residency" is not the same as obtaining the "residence" (residenza) in Italy. Residence in Italy refers to your permanent domicile, whereas an elective residency visa deals with immigration.
From a cronological and logical point of view, you first apply for the Elective Residency Visa (via the consulate) then you get the permit to stay (via the immigration office in Italy), then you can apply for and request the residenza (via the local municipality, or comune)
If you want to access the public healthcare system in Italy, you need to have a residence. Therefore, obtaining an elective residency visa does not automatically make you eligible for the public healthcare system. You need to request the registration as residente, first.
When it comes to the application process, the hosts advise being flexible and adapting to the timing of the consulate. Given the impredictability of the time that the consulate can take to review your cases, is important to buy a ticket that can change your departure time to fit the consulate's schedule.
In conclusion, the elective residency visa is a great option for those who wish to stay in Italy for an extended period, and normally without a time limitation, without working. It requires planning, showing a passive income, and flexibility during the application process.

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The Italian Legal Whisperer TM️©️
Hosted by Avv. Michele Capecchi LL.M.
Email: [email protected]
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Disclaimer: The information provided in this podcast is for general information purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal advice specific to your circumstances.

Previous Episode

Ep.3 -Student Visa and Converting Student Visa

Episode 3. The STUDENT VISA – Converting the Student Visa into a Working Visa.
Visa and Permit to Stay, what is the difference.
- The Decreto Flussi and the Quota System.
In this episode, the hosts discuss the high demand for accurate information about living in Italy. Many people have questions about buying property, staying longer than 90 days, setting up a business, and what to do in case of a car accident.
For those interested in staying longer than 90 days, what type of visas should be taken into consideration? What is your ultimate goal? STUDY, work, reach a member of your family? Bring an investment? Reinvest some cash in a real estate opportunity? Come for an Internship or for a sabbatical year? For each one of these goals and projects a foreigner who wants to stay in Italy for more than 90 days continuously must apply for an appropriate visa.
And only under specific circumstances it is possible to switch from one type of visa (for instance, a student visa) into a different one (for instance work).
This episode focuses on the STUDENT VISA, to be requested, at the Italian consulate in the jurisdiction where you have your permanent domicile.
The Student Visa can be extended, under specific circumstances, to extend your study abroad program. But in this case, you must remain with the same program and school.
The Student Visa can be used to work part-time up to 20 hours a week while the student is attending the course. This is an excellent way to get to be known by Italian companies and maybe obtain the possibility to convert the student permit to stay into a work permit to stay.
In fact under certain circumstances and in specific moments of the year it is possible to conver the Student permit to Stay into a work permit to stay.
The hosts also touch on the topic of Decreto Flussi “The Quota System”, a regulation that limits the number of migrants allowed into Italy each year. They advise listeners to be aware of the specific timeframes for when the Quota is issued and how many are granted each year, because that is , in many cases, the only time to try to conver the student permit to stay into a work permit to stay.
The hosts emphasise the importance of understanding the difference between a VISA (the sticker provided by the Consulate) and the Permit to stay (the actual document provided by the immigration office, once the person arrives in Italy) and explain that within eight days of arrival, visitors who enter with a visa must apply for a permit to stay.

Next Episode

Ep. 10 - Italian Residency and Taxes in Italy

Episode 10. RESIDENZA - Formal residency or legal domicile - Codice Fiscale -
Buying a property without Visa- Why having Residenza (legal domicile) is so
important and useful.
Attorney Michele Capecchi and co-host Monica Sharp continue their analysis of the
most important aspects related to real estate transactions in Italy, including
misconceptions, errors and pitfalls to avoid. The spoke extensively of