- New Visa Program Forthcoming for Investors
- February 1, 2017
- Law Firm: Fragomen Del Rey Bernsen Loewy LLP - New York Office
Italy has introduced a new visa category for investors. When it is fully implemented, the visa will offer qualified foreign investors an initial validity period of two years, renewable for three-year periods upon verification that the investment is maintained as outlined in the law.
The new visa will be available for those who meet the below criteria:
- Invest a minimum of EUR 2 million EUR in government bonds, which have been untouched for at least two years;
- Invest a minimum of EUR 1 million in an Italian company, which have been untouched for at least two years; or
- Donate a minimum of EUR 1 million to a public interest project relating to culture, education, immigration management, scientific research, protection of cultural or landscape heritage.
What This Means for Employers and Foreign Nationals
Foreign investors should benefit from the additional path for a long-term stay without an in-country sponsor.