From December 2017 Italy has made available a new permit, known as permesso di soggiorno per investitori. This new permit of stay is aimed specifically at investors who want to invest in Italy in strategic sectors of the Italian economy.
This new permit has been created in a streamlined, online permit application and issuance process manner and it can be used in conjunction with other measures such the “flat tax” regime for new residents in Italy.
Through a dedicated web portal, interested parties can obtain a Nulla Osta (work permit) and the related permit of stay for investors (permesso di soggiorno per investitori).
The work permit is expected to be issued within 30 days and the chosen investment must be made within three months of entering Italy and kept for at least two years. However, investment activities can be performed while the permit of stay request is being processed.
There are threshold amounts depending on the type of investment, and there’s also a requirement to hold the investment for a two-year minimum.
The new portal that became operational in mid-December makes it possible to request the Nulla Osta (work permit) online and have it delivered to the competent Italian Consulate. Note that it is mandatory to indicate the place where the Investor is going to settle (to inform the competent territorial immigration authorities).
Once the Nulla Osta (work permit) is issued, it is sent to the competent consulate. The investor has six months to go the Consulate to apply for the visa.
Before entering Italy, the investor must communicate to the competent authorities the day that the investor will go to the competent immigration office at the police to apply for the permit of stay. The application must be done within eight working days after entering Italy.
The permit of stay can be renewed for three more years, if the same investment is held for this additional time. If another investment to replace the current is planned, it will be linked to a new Nulla Osta (work permit).
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