I just obtained my investor visa and settled down in Italy. I was told that after holding this visa for five years, I could choose to apply for an EU resident permit. What is the process? After getting the permit, do I still need to maintain my investment in Italy? With an EU resident permit, will I be able to live and work freely in any EU country?
Answers
Foreign citizens can apply for an EU long-term resident permit (with unlimited validity) if: they have a valid resident permit and have been a legal resident in Italy for a period of at least five years; have a minimum annual income higher than the social allowance (5,954 euros for the year 2019). The EU long-term resident permit allows the holder, under certain conditions, to move from one EU state to another (but it's necessary to check each country's regulation). Also, the investor must maintain the original investment for the entire duration of the permit; otherwise, it will be revoked. Additionally, the renewal of the investor resident permit after the first two years is subject to a preliminary approval by the investor visa committee, which must ensure that the investment/donation has been maintained for the entire validity period of the resident permit. However, it is to be noted that if the holder no longer meets the requirements fr mantaining the investor permit, he/she can apply for it to be converted into another type of permit (of course if he/she meets the legal requirements to apply for it).
Foreign citizens can apply for an EU long-term resident permit (with unlimited validity) if: they have a valid resident permit and have been a legal resident in Italy for a period of at least five years; have a minimum annual income higher than the social allowance (5,954 euros for the year 2019). The EU long-term resident permit allows the holder, under certain conditions, to move from one EU state to another (but it's necessary to check each country's regulation). Also, the investor must maintain the original investment for the entire duration of the permit; otherwise, it will be revoked. Additionally, the renewal of the investor resident permit after the first two years is subject to a preliminary approval by the investor visa committee, which must ensure that the investment/donation has been maintained for the entire validity period of the resident permit. However, it is to be noted that if the holder no longer meets the requirements fr mantaining the investor permit, he/she can apply for it to be converted into another type of permit (of course if he/she meets the legal requirements to apply for it).
Foreign citizens can apply for an EU long-term resident permit (with unlimited validity) if: they have a valid resident permit and have been a legal resident in Italy for a period of at least five years; have a minimum annual income higher than the social allowance (5,954 euros for the year 2019). The EU long-term resident permit allows the holder, under certain conditions, to move from one EU state to another (but it's necessary to check each country's regulation). Also, the investor must maintain the original investment for the entire duration of the permit; otherwise, it will be revoked. Additionally, the renewal of the investor resident permit after the first two years is subject to a preliminary approval by the investor visa committee, which must ensure that the investment/donation has been maintained for the entire validity period of the resident permit. However, it is to be noted that if the holder no longer meets the requirements fr mantaining the investor permit, he/she can apply for it to be converted into another type of permit (of course if he/she meets the legal requirements to apply for it).
