The Elective Residence visa does not allow you to work while in Italy, even remotely. Therefore, if your goal is to move to Italy and become a resident for tax purposes, possibly enjoying also the so called "flat tax regime" of 100,000 euros per year for any income generated abroad, you may evaluate the Italian Investor visa, which through the investment, for example of 500,000 euros in equity of a company active and operating in Italy, can allow you to get a resident permit allowing you to become a tax resident and also work while in Italy.
