Move in Italy as a wealthy person: discover the fiscal advantages in 2020

The new normal dictates that everyone should work from home. Working from home could be a pleasure if you could work from the ancient villas of Rome or in the rolling fields of Tuscany while you sip on a glass of chilled red wine. Doesn’t that sound like bliss?

The first step in realizing this dream is getting an Italian visa. Read on to find out how to go about making your Italian work from home dream come true.

The Best Type of Visa to Apply for If You Want to Live in And Work from Italy

Elective residence visa Italy is one of the best visas that you can apply for if you want to live in and work remotely from Italy. This visa is known as the rich person’s visa because anyone applying for this visa is required to possess a considerable amount of assets.

The person applying for this visa must be able to prove that they have enough passive income to sustain in their life in Italy. Passive income includes rentals, pensions and other financial investments and other resources. You must earn €31,000 per year and married couples must have an additional 20% of income with 5% being added for every child that they have.

If you don’t have enough financial resources to meet these requirements then you can apply for the visa by investing in residential real estate. If you purchase a piece of property in Italy and it becomes a permanent residence then you can apply for the elective residence visa.

The Process to Get an Elective Residence Visa

You have to start by visiting the website of the Italian Consulate nearest to you. Every consulate may have different rules when it comes to applying for visas. So, it is better to check which set of rules are applicable for you. First, you have to book an in-person meeting at the consulate through their online portal. You have to declare a portfolio of all the assets they own and you may also have to submit the original financial statements of everything that you own and all your investments.

It is ideal to keep a minimum of 4 copies of every document that you will submit to the consulate because it is required for bureaucratic purposes. If copies or any documents are missing then you may have to restart the process again which will be a big hassle for you. Being well-dressed and looking sharp in your meetings with the consulate earns extra points in your favor.

The embassy might keep your passport while your visa process is in progress so you won’t be able to leave your country during that period. Once your application is submitted the consulate will take 90 days to review it and issue you your visa.

The Documents You Need to Apply for The Elective Residence Visa

  1. A passport that has a blank page and is valid for three months after the validity date of the visa requested.
  2. A visa application form that must be signed in the presence of a consulate official.
  3. One recent passport-sized photograph that has the applicant’s full face.
  4. Proof of permanent residence in the country that you are migrating from.
  5. Proof of financial support as in the original documents from investments and other assets.
  6. An internationally valid health insurance
  7. A conduct certificate that has been issued by the local police.
  8. Valid birth and marriage certificates of family members.

After your arrival in Italy, you have to inform the local police within 8 days and the authorities will carry out the necessary procedures after that.


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Thomas Brown

Thomas Brown is the go to member of the team when it comes to retail sector news and reporting. His dedication towards sifting through the stories and writing the most essential material is what makes him a valuable member of the Business Deccan family.

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