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Elective Residency Visa in Italy: A Guide to Passive Income Residency
Permit Information
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PERMIT_POSTED_BY:
admin
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PERMIT_POSTED_ON:
Nov 20, 2024
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Views :
231
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Category :
Europe »
Southern Europe
»
Italy
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Description :
The Italian Elective Residency Visa allows foreigners with stable passive income to live in Italy without engaging in work. Learn about eligibility, financial requirements, procedural steps, and renewal guidelines for this exclusive visa with Joombaah’s professional assistance.
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Phone :
(+39) 02 36 63 86 10
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Email :
milano@lexia.it
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Website :
https://www.italianvisa.it/elective-residency-visa/
Overview
Elective Residency Visa in Italy: A Guide to Passive Income Residency
Introduction
The Elective Residency Visa is the perfect solution for non-EU nationals who wish to live in Italy and enjoy its rich culture, stunning landscapes, and high quality of life. Designed for individuals with a stable passive income, this visa provides the opportunity to settle in Italy without the need to engage in employment or business activities.
Who is Eligible?
The Elective Residency Visa is tailored for:
- Individuals with continuous and stable passive income from sources like pensions, dividends, rents, or investments (not employment).
- Applicants who can demonstrate an annual passive income of at least €32,000. Spouses and dependent children require an additional 100% and 20%, respectively.
- Applicants with suitable accommodation in Italy (e.g., a long-term rental agreement or property ownership).
- Individuals with private health insurance valid for at least one year in Italy.
Main Procedural Steps
- Visa Application: Submit the visa application to the Italian Consulate in your country of residence.
- Entry into Italy: Once the visa is granted, enter Italy and apply for the residence permit within 8 days at the Police Headquarters.
- Fingerprint Registration: Complete biometric registration at the Police Headquarters.
Key Requirements
- Passive Income: At least €32,000 gross yearly income from non-work-related sources. Additional income is required for dependents.
- Accommodation: Proof of a rental agreement or property ownership in Italy.
- Health Insurance: Comprehensive coverage for at least one year.
- Civil and Tax Residency: Applicants must establish Italy as their primary place of residence for civil and tax purposes.
Validity and Renewal
- The Elective Residence Permit is valid for 1 year, renewable every 2 years with no limitations as long as the original conditions are met.
- After 5 years of continuous residency, applicants can apply for a permanent residence permit.
Processing Time
The average processing time for the Elective Residency Visa is 2 to 3 months. Once approved, applicants can travel to Italy and legally reside.
Why Choose Joombaah?
Joombaah offers comprehensive support to ensure a smooth application process, including:
- Assistance in preparing necessary documents.
- Guidance through visa application and residence permit procedures.
- Ongoing support for renewals and compliance with Italian residency laws.
Settle into the Italian lifestyle with Joombaah’s professional expertise and begin your journey to a new life in Italy!