Top Strategies For Getting Residency In Italy

Top Strategies For Getting Residency In Italy

You will find many places around the world where Americans are flocking to go live and retire. The good thing about this recent trend of Americans living in the United States is that there are a lot of options to choose from. Are you ready to hear the top strategies for getting residency in Italy?  Good!

 

Research

When researching the best country to retire, don’t limit your option to one country or even one continent. There are enough countries that are more than happy to make it easy for Americans to live there and help them obtain residency.

Of course, some are easier to obtain a residency than others. Some countries have very relaxed immigration laws where just by buying a house you automatically qualify for a permanent residency.

Others countries, mostly in Europe, make it a little bit harder for Americans to obtain a residency. Americans have been coming to Europe in packs to enjoy the old continent and get a breath of fresh air.

 

Why Italy?

One of the most popular countries that have been receiving Americans left and right is Italy. Italy is a beautiful country. It has a wide and diverse landscape that has something to offer anybody. With a little time and money, you can become a permanent resident and an eventual citizen in the country.

 

What you Need to Know

The first thing you should know before looking into living in Italy is that Italy considers everybody who lives there for under 3 months a visitor. It doesn’t matter what you are doing in the country, study, retire, research, etc.

In order to begin the process, you must show the proper documentation in an Italian consulate in your home country.  They will ask you to present an application that includes the following documents:

  • Proof of Identity
  • Employment Contract
  • Proof that the Applicant can take care of himself financially
  • Valid Health Insurance

 

Application is Approval

If your application is approved you are given a Permesso di Soggiorno, which translates to a permit to stay. The Permesso di Soggiorno has a duration of five years and can be renewed if you maintain the same condition in the country.

After five years, the applicant can apply for a Permanent Residency. It is important to note that the applicant must not be convicted of any crime and must be in good standing with the authorities.

A Permanent Residency in Italy has a duration of 2 to 5 years depending on your reason for being in Italy. To maintain your permanent residency status you must live in Italy for a period of 6 months and one day, this is non-negotiable.

 

Permanent Residency in Italy

Being a permanent resident in Italy has certain advantages. You get to be a member of the European Union, it makes it easier for you to buy a house or start a business in the country, and you get various tax benefits such as a reduced payment of a 4% tax on the purchase of a house and the reduced payment of other municipal taxes.

On March 10, 2012, a decree was released stating that all American Citizens who requested a permit of stay for a period of more than 12 months are required to sign an integration agreement at the police headquarters.

As part of this decree, every American who wishes to obtain a permit of stay in Italy must partake in any of the following activities:

  • Take language classes and acquire adequate knowledge of the language
  • Learn about Italian Culture
  • Take classes about Italian History and Art
  • Successfully passing a test in the Italian language

Italy also offers a Residency by Investment program, but it is more costly than many residencies by investment programs offered. To qualify for the residency by investment program you have 3 options:

  • Make a 2 Million Euros Investment in Government Bonds and hold them for a period of 2 years
  • Make an Investment of 2 Million Euros in corporate bonds or shares
  • Make an Investment of 500,000 Euros in a Startup
  • Make an Investment of 1 Million Euros in a public interest project, such as culture or education

If you are interested in a 2nd passport, here is another article by Mikkel Thorup you will enjoy.

I hope you’ve found this article on how to get residency in Italy to be helpful. For more information, or for assistance with any second passport program, please contact