I'm an investor based in the US and I have school aged children. If we opt for Italy's residency by investment program, would my family get access to public education and health care? Would we have to wait for citizenship? Would they need to pass language tests?
Your family can obtain a family visa and permit, and if you take residency in Italy, you and your family are entitled to be registered with the Health National Service (paying a low fee to be calculated based upon your income), and your children can attend local schools.
You can obtain a residence permit for your family members, including minor children and spouses, and they will be able to reside in the Italian territory and have access to education and healthcare. In order to be able to apply for the Italian citizenship, you and your family members must reside in the Italian territory for at least 10 years. Applicants must meet, among other requirements, the language skills requirement by presenting a B1 level certification of knowledge of Italian language.
I assume you meant "relatives" instead of "dependents". If so, I can confirm they get access to public education and healthcare even though they have to wait 10 years to apply for citizenship (and pass the language tests before submitting their application).
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