How can British retirees use their pension to meet the sufficient income requirement to gain residency in Italy?

Answers

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  Marco Mazzeschi

  Mazzeschi Srl

  June 02, 2021

  You should not confuse the Elective Residence Visa with the Investment Visa. The Elective Residence Visa is for those who want to live in Italy without working and requires the applicant to have a minimum passive income (i.e. not deriving from work or salary) of at least 31,000 euros per year and to have a suitable accommodation. You just need to prove that you have a pension above the minimum threshold and this can suffice to obtain the visa, but consulates keep some discretion in issuing it despite you meet the minimum requirements. An 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 by investing 500,000 euros in a company, or 250,000 euros in an “innovative start-up”; or by donating 1 million euros in philanthropic projects of public interest. For this visa, you will need to do the actual investment within 3 months of entry into Italy.

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  Alessia Ajelli

  LCA Studio Legale

  June 02, 2021

  The Italian Investor visa can be obtained via investment in equity of an Italian company, an Italian innovative start-up company, philanthropic donation or government bonds; minimum threshold varies from 250,000 euros to 2 million euros which must be paid within three months the applicant enters Italy and not withdrawn (failure to do so would result in the revocation of the visa). On the other hand, foreigners who have a stable and steady passive income, not deriving from subordinate work activities -- pensions are the perfect example -- and who are willing to move to Italy not for the purpose of work, may consider applying for an elective residence visa. The elective residence visa allows foreign nationals, who have a stable and steady passive income not lower than around 32,000 euros per year (even though every Italian Embassy/Consulate competent to issue the visa may set the threshold to a higher amount), and the availability of an accommodation in Italy, to apply and obtain this visa.