Do I need to live in Italy to maintain the Golden Visa?

The Italy Golden Visa does not require holders to reside in Italy to maintain their residency status, offering flexibility for investors.

The Italy Golden Visa, officially known as the Investor Visa for Italy, provides non-EU nationals with residency rights in exchange for qualifying investments. A significant advantage of this program is the absence of a mandatory residency requirement, allowing investors to maintain their visa status without residing in Italy. Below is a detailed explanation of the residency obligations and considerations for Golden Visa holders.

Residency Requirements:

1. No Mandatory Stay:

   • Holders of the Italy Golden Visa are not obligated to live in Italy for any specific duration to retain their residency permit. This flexibility enables investors to manage their personal and professional commitments without the need to establish permanent residence in Italy.

2. Investment Maintenance:

   • The primary condition for maintaining the Golden Visa is the continuation of the qualifying investment. Whether it's an investment in government bonds, Italian companies, innovative startups, or philanthropic donations, the investment must remain active and compliant with the program's requirements throughout the visa period.

Implications of Non-Residency:

1. Tax Residency:

   • Not residing in Italy means you are not automatically considered a tax resident. Tax residency in Italy is generally determined by spending more than 183 days in the country within a tax year. Non-tax residents are typically taxed only on income generated within Italy.

2. Path to Permanent Residency and Citizenship:

   • While the Golden Visa itself does not require residency, those interested in obtaining permanent residency or Italian citizenship should be aware that these statuses have their own residency requirements. Permanent residency may require demonstrating ties to Italy, and citizenship typically necessitates a period of continuous legal residence.

Benefits of Non-Residency Flexibility:

1. Global Mobility:

   • Investors can maintain their primary residence elsewhere while holding the Italy Golden Visa, facilitating international business operations and personal travel.

2. Access to the Schengen Area:

   • The Golden Visa grants visa-free access to the Schengen Area, allowing stays of up to 90 days within any 180-day period across member countries.

3. Family Inclusion:

   • Immediate family members, such as spouses and dependent children, can be included in the Golden Visa application, providing them with the same residency rights and travel benefits.

Considerations:

1. Regular Renewals:

   • The initial Golden Visa is valid for two years and can be renewed for additional three-year periods. Timely renewal applications are essential to maintain residency status.

2. Legal Compliance:

   • Adherence to all legal obligations, including maintaining the investment and complying with Italian laws, is crucial to avoid any issues with residency status.

3. Professional Advice:

   • Consulting with legal and financial advisors experienced in Italian immigration and tax laws can provide personalized guidance based on individual circumstances.

Conclusion:

The Italy Golden Visa offers significant flexibility by not imposing mandatory residency requirements on holders. This feature allows investors to enjoy the benefits of Italian residency, including access to the Schengen Area, without the necessity of living in Italy. By maintaining the qualifying investment and adhering to legal obligations, Golden Visa holders can retain their residency status while residing elsewhere.