My annual income from Social Security benefits is expected to be somewhat less than the required 32,000 euros annually. However, I have substantial personal savings that amount to more than $100,000. I also own a house valued at $250,000. I will not work due to my retirement age. What are my chances to qualify for the residenza elettiva? If none, which Italian program could be right for me?
Elective residence visa's applicant should be able to demonstrate to have sufficient economic funds to sustain themselves while in Italy and such resources should come from their existing financial assets - bonds, pensions, stocks, rents from properties etc. Consulates/embassies may require the presentation of statements from the applicant's bank reporting the financial status of the applicant's accounts and stock/bonds portfolio.
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