Italian Flat Tax Regime: First “Investor Visa” issued to non-EU Clients

Belluzzo International Partners successfully finalized the first procedures aimed at obtaining the Investor Visa for individuals residing in countries outside the EU. The new procedure has been introduced by the 2017 Budget Law with the addition of Article 26 bis to the Consolidated Law on Immigration. The Italian Authorities have issued to Firm’s Clients the Investor Visa allowing non-EU citizens, without EU Passport, to obtain the residence permit for a minimum of two years (renewable) against the execution by the non EU individuals concerned of financial investments in Italy as follows:

• at least € 2 million investment in government bonds; or
• at least € 1 million investment in equity instruments in the share capital of an Italian resident and operating company or at least € 500.000 investment in the share capital of innovative start-ups; or
• a donation of € 1 million to philanthropic projects (culture, education, migration management, scientific research and recovery of artistic assets).

In the cases where the Firm has acted as an advisor, Russian citizens have obtained the Investor Visa in the terms provided for by the procedure by investing 1 million euros in Italian companies.

The Immigration Law and Private & Wealth teams of the Firm followed the whole procedure, now fully digitalized, managed with high level of competence by the Italian authorities.

Following the confirmation of the release of the Investor Visa, clients have sent the tax ruling to the competent tax authorities to exercise the option referred to in Article 24-bis of the ITCA.

A copy of the official document – according the residence permit –  with due privacy blanks, is available following a specific request to one of our partners.