I have heard many migration agents in my home country promoting Italy’s investment immigration programs with the option of purchasing real estate properties. According to them, it is possible to obtain resident permits for the whole family by purchasing a house that is worth 300,000 euros. However, when I do research in English, I could not find an official source describing this option of investment immigration. Is it true that one can immigrate to Italy just by purchasing properties? If so, what are the requirements?
One can apply for the elective residence in Italy if the applicant buys a property worth at least 300,000 euros. But the applicant needs to give evidence of an annual income of 31,000 euro coming from a steady source of income, such as pensions, rentals and so on. The annual amount is increased if there are multiple applicants. By the way, the applicant is not allowed to work in Italy as an employee or as a freelancer.
Italy does not have a specific program which grants a visa by investing in real estate. Italy's investor visa can be obtained by: purchasing 2 million euros in Italian government bonds (to be kept for a period of at least two years); or investing 1 million euros in a company or 500,000 in a “innovative start-up”; or donating 1 million toward philanthropic projects of public interest.
The Italian investor visa does not provide the real estate market investment as one of the elegible categories of investment for the obtainment of the visa and resident permit. Usually investments in the real estate market can be pursued in order to have an apartment/house/real estate that can be designated as accommodation in Italy of a foreigner willing to move to Italy and apply for the elective residence visa, i.e., the visa and stay permit that allows foreigners to settle in Italy as long as they are willing to not carry out any work activity and have sufficient and steady economic resources to support themselves while in Italy.
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