What are the main features of the Elective Residence Visa?
The visa for elective residence in Italy is reserved for foreign citizens who want to move to Italy with the resources to live without needing a job. One of the fundamental requirement for being able to apply for a visa for elective residence is that the applicant can prove the possibility of sustaining the stay in Italy without employment.
The income must be from regular, passive sources, such as pensions, rental contracts, dividends from owning securities, royalties, interest on deposits. The applicant must also prove that the income is from legal sources.
The same type of visa may also be issued to the applicant’s spouse and family members, if the applicant’s financial capacity are adequate (more details in the following paragraph).
The Elective Residence Visa lasts for one year and may be renewable, subject to the maintenance of the requirements. Allows the holder to stay in Italy and move freely within the European Union countries.
When the holder of a permit of stay “Residenza Elettiva” is absent in Italy for more than 6 consecutive months, the renewal of the permit of stay for the Elective Residence may be denied.
The holder of the Elective Residence Visa becomes a tax resident of Italy in case if he is registered in City Hall and live in the country for more than 183 days/year. The resident has the same tax obligations as Italians, also in case his income is received abroad.
Who can apply for Elective Residence Visa?
The basic requirement for applying for the Elective Residence Visa is the possession of the economic resources to be able to support your stay in Italy without working. The applicant must be able to document financial resources for a minimum amount of 31,000€ for an applicant, although the minimum threshold may vary at the discretion of the authorities. For this reason, our experienced immigration lawyers recommend proving significantly higher amounts than the minimum threshold.
If the applicant intends to move with the family, the monthly income must increase by 20% for the spouse and by at least 5% for each child (minors or adults).
Our company provides assistance in finding and organising the documentation of financial assets, which must be translated and legalised for the submission of the visa application.
Are the economic requirements enough to obtain the Elective Resisence Visa?
In order to apply for a visa for elective residence, are required the following documents:
– Valid passport (for a minimum of 3 months after the expiry of the visa)
– Passport photo
– Application form
– Civil status documents (family status, marriage,…)
– Penal certificate
– International medical insurance
– Motivation letter
In addition to this documentation, is required the proof of accommodation in Italy for the applicant and family members, such as:
– A rental contract for a property that meets the requirements by law
– The deed of ownership of a property for residential use and its registration with the Agenzia dell’Entrate
As the process and documentation relating to the rental and purchase of a property in Italy are complex and constantly changing, the lack of proof
of the availability of suitable accommodation is a frequent cause of refusal of the Elective Residence Visa for applicants who would, instead, have all the requirements.
Our company has a Real Estate Department that works in synergy with our immigration lawyer and our experts native speakers, to assist applicants also in the rental and purchase of a property in Italy.
For those interested in these services, it is possible to view our services of Home Finding and Home Purchase.
The 3 steps for preparing and obtaining the Elective Residence Visa
If you choose to rely on an agency, it is important to verify the experience, professionalism and the support that they can provide in the housing aspects of the practice: living abroad, finding accommodation and documentation is often very complex and risky.
Moreover, people who meet the requirements to obtain a Visa for Residence in Italy usually have significant economic capacities: most of the agencies apply high fees compared with the market value.
Our agency has been supporting clients from all over the world for over ten years, identifying the best solution for moving to Italy and assisting them in the entire process from the application to living in the new country. Relying on a team of experienced native speakers, an immigration lawyer with decades of experience and various array of services, we aim to offer a service of excellence at the best value.
If you are interested in learning more about the Elective Residence Visa, contact us and book a free consultation with our experts.
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