Ep.4 - Elective Residency Visa - Golden Visa

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.
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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.