Italian Immigration Law provides for several kinds of residence permits, including the elective residence permit. Such permit is issued to non-EU foreign nationals providing evidence of significant and stable incomes resulting from activities other than employment (such as rent, pension, corporate dividends, bonds, etc.) and whose existence in the future can reasonably be expected.
The holder of an elective residence permit is required to provide evidence of foreign financial means of lawful origin allowing him/her to stay in Italy without the need for employment. Although not allowed to work in Italy, the holder of an elective residence permit can be partner in companies operating on the Italian territory, or owner of properties let to third parties. Essential condition of eligibility for the programme is purchasing an apartment in Italy (no minimum amount is provided unlike, for instance, the Spanish Golden Visa program) or signing a long-term rent.
For the purpose of encouraging foreign investments in Italy, some Italian Consulates (including the Italian consulate in China) provide for the following: in the event of purchase of properties in Italy, the availability of significant financial means requirement is met if the applicant can provide a minimum annual income of € 31.000,00, increased by 5% for each accompanying family member. In the event the property is leased instead of purchased, the minimum income requirement does not apply. Therefore, each Consulate defines the minimum financial means required (on average, a variable amount between €50.000,00 – €100.000,00 per year).
The holder of the elective residence permit does not have free access to Italian healthcare and is required to provide evidence of having taken out private health insurance to cover medical expenses in Italy. Otherwise, the foreign national can access the Italian healthcare system upon payment of a fee. The elective residence permit grants the applicant the right to request family reunion with his/her spouse and children (both minor and adult). Under special circumstances, family reunion with parents and is allowed as well. Upon granting of the elective residence permit, the foreign national must attend a free 10-hour civic education course (integration agreement) in Italy organized by the Ministry of the Interior. The foreign national can choose the language of the course.
The first elective residence permit is valid for 1-2 years and can be renewed for further 1-2 years. After 5 years of residence permit, the foreign national can convert his/her elective residence permit into a long-term EU residence permit (formerly known as residence card), i.e. a permanent residence permit. Non-EU nationals can apply for the Italian citizenship and passport 10 years after the issuance of the first residence permit by means of application for naturalization by residence.
