Tens of thousands have already obtained EU residence permits through golden visa programs. One of the best such programs, however, is only recently beginning to get the attention it deserves: Italy’s Dolce Visa.
Starting from a low base, application numbers quadrupled in 2021. This, explains Magwind Director Dario Montagnese, is a sign that La Dolce Visa is about to take off:
“We’ve seen this before,” he says, “a few years ago, in Portugal and Malta, when the number of applications began growing exponentially. Residence by investment programs often start slowly, then gain traction as awareness grows, and then – very suddenly – application numbers soar. We’re about to see the same with the Italian Dolce Visa, thanks to the recent changes to the program’s key terms.”
Recent changes to the program – which included a halving of the minimum investment requirement and the complete removal of physical presence requirements – have transformed the Dolce Visa into one of the best residence by investment options in the market.
Processing in three months, from start to finish
The Dolce Visa (formally, the Italian Investor Visa) is broadly similar to the rest of its European counterparts, with a few exceptions that we’ll detail below. In essence, anyone with a clean criminal background that make a qualifying investment can obtain a residence permit in Italy, crucially, without having to live there (unless they want to).
Because the program is still so young and free of the processing delays that plague other popular golden visa programs, the process is quick and simple: Investors can get their residence permits within three months of their application, making it one of the fastest programs of its kind in Europe.
The recent changes to the investment criteria have also made the program highly competitive relative to its EU peers, and its flexible terms make La Dolce Visa one of potentially great returns. More on this below.
Applicants can choose between four different investment options:
- a EUR 2 million investment in Italian government bonds
- a EUR 500,000 investment in an Italian limited liability company
- a EUR 250,000 investment in an innovative Italian startup
- a EUR 1 million donation to a philanthropic initiative in Italy
While La Dolce Visa does not yet have a direct real estate investment option, Magwind can structure an investment product that results in the investor eventually obtaining a tangible real estate asset. This asset can take various forms and provide different levels of ROI depending on the framework tailored to each client.
“The flexibility the government has granted in the legal structuring of eligible Italian companies and startups has given us the freedom to design tailor-made investment options for our clients,” says Madelena Monteiro, Head of Legal at Magwind. “This provides them with an opportunity to acquire an asset commensurate with their objectives, risk levels, and preferences. Italy offers one of the best investment landscapes in Europe, and now La Dolce Visa holders can take advantage of that.”
Get approval first, invest later
Flexible investment criteria are not the only competitive advantage of the program, however. The ease and speed of processing is also superior to most peers. The entire process takes three months and consists of a few simple steps:
- Make an online application to obtain a Nulla Osta (certificate of no impediment);
- Apply for a visa at the closest embassy once the Nulla Osta is in hand;
- Visit Italy to pick up the initial two-year residence permit;
- Make the investment within three months of obtaining the residence permit
Note that applicants need only make the investment after gaining approval. This means there’s no risk of making an investment in vain. Investors get a two-year residence permit before making their investment, and then have three months to upload the details of their investment into an online portal to maintain their residence status.
This is a clear advantage that La Dolce Visa has over various other programs; investors need not put in place any safeguards, freeze funds, or otherwise take any risks while waiting for approval.
La Dolce Visa’s transformation into a simple, quick, and flexible residence by investment program is perfectly complimented by the various benefits that come with it, such as:
Living in Italy (as much as little as you want)
Among the ten EU’s most visited cities, three are Italian: Rome, Milan, and Venice. Florence isn’t far behind either. Italy consistently ranks among the world’s favorite lifestyle destinations because it has practically everything: Whether you’d like to lounge on the beach, enjoy some of the world’s best skiing, or visit unique historical locations (Italy has 58 UNESCO World Heritage Sites, more than any other country in the world), you’ll find what you’re looking for in Italy.
No physical presence requirement
Unlike in some residence by investment destinations elsewhere in Europe, Dolce Visa holders are not required to live in Italy to maintain their residence permits, as it is directly dependent on them maintaining their investment (and even that is only necessary until permanent status is obtained after five years).
A clear route to citizenship
Those who do choose to reside in Italy can set their eyes on obtaining Italian citizenship. After living in Italy as a tax resident (six months per year) for ten consecutive years, a person can petition the government for naturalization.
High net worth individuals (HNWIS) who become Italian tax residents for the first time can file for a Special Tax Regime (STR) which provides an array of tax benefits such as:
- A flat tax of 100,000 EUR for all foreign income regardless of its amount
- The ability to add family members to STR’s income tax benefit by paying a 25,000 EUR flat income tax rate for each member
- An exemption from wealth tax on investments held abroad
- An exemption from inheritance and gift tax
A custom-made, profitable investment
Magwind takes the investment component of investment migration very seriously, analyzing each client’s case and working with them to produce the best investment option that fits their needs, objectives, budget, and ROI goals.
Magwind can provide a wide array of profitable investment products under La Dolce Visa’s umbrella, which makes the program even more enticing, allowing investors to get an Italian residence permit through a venture that makes financial sense.
To know more about Italy’s Dolce Visa, contact us today.