financially independent individuals who wish to retire in Italy
Italy - Elective Residence Visa
The Italy Elective Residence Visa (ERV) is a residency program for financially independent individuals who wish to live in Italy without engaging in local employment. It is designed for retirees, investors, and individuals with stable passive income seeking long-term residence in Europe. This visa allows holders to reside in Italy based on financial self-sufficiency rather than business or work activity. The permit is renewable annually and offers a structured pathway to permanent residency and, ultimately, Italian citizenship. Depending on individual circumstances, favourable Italian tax regimes may also apply for eligible new residents.
Eligibility, Benefits, Timelines and Costs
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Eligibility
Stable, passive income from pensions, rental income, dividends, or investments (no employment allowed).
Minimum annual income of around €32,000 for singles; higher for couples/families.
Proof of long-term accommodation (ownership or registered rental).
Comprehensive private health insurance valid in Italy.
Clean criminal record certificate from country of residence.
Income must be regular, verifiable, and sustainable with supporting documentation.
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Benefits
Access one of Europe’s most attractive tax regimes, including a €300,000 flat tax on foreign income for high-net-worth individuals.
Retirees may benefit from a 7% flat tax on foreign pension income in qualifying areas.
Live in Italy without the need to work or conduct business.
Visa-free travel across the Schengen Area (26 countries).
Pathway to permanent residency after 5 years and citizenship after 10 years.
Include spouse and dependent children under the same residency framework.
Enjoy Italy’s healthcare system, lifestyle, and culture.
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Timelines & Costs
The overall processing time is approximately 12 to 18 weeks, depending on visa appointment availability and consulate processing times
No minimum investment is required, unlike residency by investment or Golden Visa programs
Costs are limited to application support, legal documentation preparation, and professional advisory fees
Extra fees may apply depending on the number of applicants and the complexity of the case