Elective Residency Visa

Perfect for retirees and passive income earners. Learn about financial requirements, benefits, and how to apply.

Checklist:

  1. No employment allowed under this visa

  2. Long-term residency facilitated (specific duration not mentioned)

  3. Provisions for spouses and children to relocate

  4. Financial requirements:

    • Minimum annual passive income of €32,000 for single applicants
      ‍
      OR

    • Annual passive income above at least €38,000 for couples (varies depending on consulate of application)
      ‍
      AND

    • The entirety of this income must be from passive sources (pensions, investments, rentals, etc.)

  5. Proof of accommodation:

    • Certified copy of property purchase contract (title deed)
      ‍
      OR

    • Property gift transfer
      ‍
      OR

    • Life interest
      ‍
      OR

    • Registered lease

  6. Private medical insurance with €30,000 coverage across the European Union for the entire stay duration

Step 1:
‍
Book your Initial Consulation

Details:

The Elective Residency Visa, also known as Italy Retirement Visa, provides a unique opportunity for individuals to live in Italy full time without engaging in employment. It is 1-year visa that can be renewed for 3 years and can lead to long-term residency and eventually, citizenship.
‍
This visa is well suited to retirees or individuals with stable passive income from investments or pensions. Applicants need to provide proof of sufficient funds to support themselves. Income requirements are stated as follows:

  • Single applicants require a minimum net annual income of €32,000 (or equivalent)

  • If the applicant is part of a couple or married, they need to show a minimum annual income of €38,000

Income cannot be generated from employment on this visa so the applicant must demonstrate that their income is derived through other means, such as:

  • a pension scheme

  • any form of passive income (i.e. passive partnership in a company)

  • interest earned on savings or term deposits

  • returns on investments

  • income from properties owned (rentals)

Your local Consulate will require clearly documented and detailed guarantees of substantial and stable private income originating from pensions, annuities, income from properties and income from stable economic and commercial activities. Documents that demonstrate a substantial and stable income include official letters from banks, financial consultants, financial institutions, social security institutes, Income Tax Returns for the previous 2 years.

Applicants must provide the consulate with proof of accomodation arrangements by producing one of the following:

  • A certified copy of a property purchase contract (title deed)

  • A registered lease

  • Property gift transfer

  • A life interest

In addition to the above, applicants must purchase a travel health insurance premium, with minimum coverage of €30,000 for emergency hospital and repatriation expenses throughout the European Union valid for the entire duration of their stay.

The Elective Residency visa can extend residency to dependent spouse, minor children and dependent children over 18 living with their parents, assuming that the visa applicant can demonstrate adequate financial assets to support them.

Available Tax Benefits:

  • 7% tax on uncapped foreign sourced passive income for up to 10 years, with zero municipal or regional taxes. You must be living in designated southern regions in Italy with populations under 20,000.

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Frequently Asked Questions

What makes Why Wait Italy different from other immigration consultancies?

We combine advanced technology with exceptional customer service, providing transparent, step-by-step guidance and real-time updates throughout the application process. Our technology includes built-in checks and validations, greatly reducing common errors compared to manual applications. Our visa application packages also include application assistance for your Italian tax code and permit to stay once you arrive in Italy as well as consultations with accountants and legal advisors; these services usually incur additional costs of up to US$1500 and $3000 - $5000 USD respectively.

How do you ensure the accuracy of the legal and taxation advice provided?

We work with a network of english speaking, esteemed legal and taxation professionals in Italy who are experienced and highly reputable, ensuring you receive precise and reliable advice.

How do you ensure the security and privacy of my personal information?

We use bank-grade encryption and adhere to strict data protection protocols mandated by GDPR EU legislation to ensure the security and confidentiality of your information.

What level of support can I expect during the application process?

You will receive ongoing support from our dedicated team, including personalized assistance, regular updates, and prompt responses to any queries you may have.

How do you handle any issues or complications that arise during the application process?

We try to anticipate issues, but when they occur, we work through them with our clients to provide tailored solutions and ensure their needs are met.

How do I start the application process with Why Wait Italy?

The process begins with a one-on-one assessment call to understand your needs and goals. Following this call, we will send you a booking link to officially engage our services.

Is visa approval guaranteed if I use your services?

While we provide expert guidance and support to maximise the likelihood of approval, the final decision rests solely with the Italian consulate.

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