Whenever you juggle between the choices of the best travel destinations, one of the fingers always points towards “Italy.” The art, architecture, and the fact that it’s situated at the heart of the Mediterranean Sea make it quite appealing. The positive attributes don’t end here!
Being the founder member of the EU and amongst the top five economies in the EU, it is pretty popular within the investor community or business owners. Additionally, high living standards, quality education, and healthcare facilities make it even more attractive.
Is that all? Fortunately, it is a no.
Below are some of the mind-boggling facts about Italy that you must never miss out on.
- As per the data released by the World Bank, the country holds more than 20% GDP with a diversified ecosystem.
- It organizes prominent trade shows that are meant to attract buyers from across the world.
- The quality infrastructure and skilled workforce make it quite appealing for foreign investors.
Moreover, the government’s strategic repositioning has popularized the concept of innovation and digitization in the country. In short, everything about Italy is the best place if you are looking for the perfect amalgamation of rich heritage and best-in-class R&D, and a solid manufacturing base.
All of this makes it evident that Italy is certainly one of the best destinations for investment purposes. So, it’s clear that you’ve to invest in Italy. But how to get started?
Ideally, if you wish to get citizenship via investment, you have primarily two ways to go about it. You can either choose the Golden Visa Program, go for the StartUp Program (Startup Visa and StartUp Hub), or choose entrepreneurship or self-employment permit.
Out of all the options mentioned above, the Golden Visa Program has definitely intrigued various investors. Why? Hear us out and scroll through for more information.
Golden Visa- The Strategic Way To Enter The European Market
Imagine this. You finalized that you want to invest in a particular business, let’s say manufacturing. But that would require frequent trips to Italy. The entire process of renewing the visa every time you have to travel the place would be too expensive and exhausting.
Isn’t that right?
So, what’s the solution? Why not navigate through the hassle by applying for citizenship by investment introduced by Italy back in 2017. In other words, you can obtain permanent residence permits through the Golden Visa Program.
But what about it? Let’s find out shortly.
Understanding The Program
The Golden Visa Program, where you can obtain Italy’s permanent residence followed by citizenship, is by virtue of the investment falls under the Investor Visa Scheme. This particular program targets the high net-worth individuals who can make worthy contributions to the Italian economy or the community.
Prerequisites To Qualify For This Program
If you wish to immigrate to the country using various investment opportunities, you must adhere to the following:
- You must be at least 18 years old at the time you initiate the process of application.
- You must be free from any criminal activities.
- You must have a document confirming the state of your health.
Besides these, you must understand that you need to invest as per the guidelines issued by the Government to qualify for Italian citizenship by investment.
Before we move on to the amounts that you are expected to invest, let’s hear some good news first. With the COVID completely disrupting the world’s economy, the government has decided to lower the minimum amounts to attract more investors.
For instance, earlier you had to pay 1 million euros to an Italian company which has now reduced to only half a million euros. Similarly, if you wish to invest in an innovative startup idea, all you have to do is invest approx—250,000 €.
Other than that, if you wish to invest in government bonds or wish to make philanthropic donations, you will have to invest around 2 million euros and 1 million euros, respectively. For more official information on the Italian new Golden Visa, you can consult the experts or immigration specialists.
Documents Required To Obtain The “Golden Visa”
The entire process might seem very tedious if you don’t have all the documents in place. First of all, you will have to apply for a certificate of no impediment. The Italian Investors Committee usually issues it. You’ll only have to wait 30 days to get the nulla osta. But once you obtain this, you must complete the rest of the formalities within six months.
For example, you will have to provide proof of investment and how you have that amount. If you are thinking of bringing someone along under the same program, make sure to file their information.
But there’s more to it.
As per Article 26 bis, you don’t have to sign the integration agreement. Also, you no longer have to stay a minimum time, as mentioned before, to maintain the immigration status.
This was all about the legalities to enter the country using the Golden Visa Program. Now the next probable question is:
Why Would You Invest In Italy In The First Place?
Let’s start with the obvious.
If you are lucky enough to qualify for the program, you will be exempted from all the visa necessities if you relocate to Italy. This will be quite beneficial if you wish to expand your reach in the European market.
Also, if you ever wish to relocate to Italy, you’ll have to pay flat tax of upto 1 million euros on all of your foreign income.
Other than this, the following are the reasons you must consider Italy for investment purposes.
It Is A Gateway To The European Union Customers
As we mentioned above, this country is situated at the center of the sea. It becomes a hub to reach customers across the EU, Northern Africa, and the Middle East. Plus, with its robust logistic network, you’ve one of the most significant advantages to run a business here.
It Values Investors, New Or Pro
No one can gain anything unless they instill confidence in people. Right? Using the same ideology, the Italian government also makes sure that it forms a strong bond with investors. To do this, the ministry offers pro-investment info and other support services to streamline the entire investor journey.
Not only that, but it also offers various incentives in terms of tax credits, tax deductions in case you are using sustainable resources.
It Is A Hub For Quality Tools
The first thing that interests any investor is if they get quality returns. Right? Since Italy is one of the largest manufacturing places in the EU, you have the advantage of leveraging professional advice in a variety of sectors. So, whether you are thinking of investing in fashion, food, automotive, or pharma, you’ll have a robust manufacturing foundation at your disposal.
Plus, the country uses advanced technology. So, you can expect cost-effective measures to get things done.
It Is Open To Innovative Ideas
Surprisingly, the country spends more than 20 billion euros on R&D. So, if you want to start something new in terms of technology, this is the best place to start. You’ll find a variety of technology parks well connected with universities.
Did you know that Biotech is said to be the Key Enabling Tech across the EU? So, if you want something to start, this is quite the option that you can explore to enter the European market.
In The End – Take Advantage Of The Golden Visa Program
Italy is a magnificent country. One can achieve their goals quickly in this country, irrespective of the choices. Moreover, with around three universities among the top 10 in the world, eight most significant economies, and fifth if you consider the “impact factor” of the research articles published, Italy is by far the best option if you want to expand your business in the European market.
To put it simply, you have access to some of the most knowledgeable experts that are known worldwide. It doesn’t matter if you want to invest in technology, fashion, art, manufacturing, or anything else. Everyone has something to gain when it comes to investing in this country. Further, the government has opened doors for investment in energy, networking, or transport sectors.
Don’t have any idea where you can multiply your investment? Well, you can start an eCommerce business or put your money in vending stations to attract busy individuals who want everything in a single click. Another option is to invest in e-waste recycling since it’s a new business opportunity and is thought to grow profoundly in the coming years.
But for this to happen, you must apply for the Golden Visa Program now since so many restrictions are lifted to attract foreign investments amidst the growing pandemic concerns. Ensure to keep your documents ready to avoid any hassles later.
So, what are you waiting for? If you are still a bit hesitant, it would be good if you consult the right people to make an informed decision that works for you.