Elective Residency Visa: Italy Publishes Requirements for Retirement Residency Permit
- Italy's Elective Residency Visa is designed for foreigners who want to relocate permanently to the country without taking up employment
- Foreigners planning to retire must prove a specified stable passive income yearly to qualify for the visa
- The Italian Consulate lists several documents foreigners must submit, including proof of lodging registered with Italy's tax authority
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Italy has set out the requirements that foreigners must meet to obtain its Elective Residency Visa, a permit designed for those who wish to relocate permanently to the country without working (on retirement).
According to the Italian Consulate in Boston, the visa is intended exclusively for individuals who plan to settle in Italy on a long-term basis and who can sustain themselves financially without employment. The permit is not tied to any job offer and does not grant the holder the right to work upon arrival.
Source: UGC
Italy retirement residency permit requirements
A central condition for eligibility is proof of stable passive income exceeding 31,000 euros (N48,468,500) per year for each applicant. This figure applies equally to a dependent spouse or minor children included in the application, with each person requiring a separate application packet.
Beyond income, applicants must gather a specific set of supporting documents. These include a completed long-term visa application form, signed in person at the consulate, along with a passport-style photograph and a valid passport that remains valid for at least three months beyond the intended stay.
Applicants are also required to submit proof of lodging in Italy, which must be a lease or property deed formally registered with the Agenzia delle Entrate, Italy's national tax agency. An intent letter explaining the purpose of the move, a one-way flight reservation, Schengen travel insurance, and a money order are also part of the required documentation.
Applicants must additionally provide proof of residency in one of the following American states: Massachusetts, Rhode Island, New Hampshire, Vermont, or Maine, indicating this particular consulate serves those specific regions.
Italy: Who can apply for retirement visa
Apart from those planning to retire, the visa extends to applicants' spouse and minor children, provided each meets the income threshold and submits their own complete application packet.
Every people seeking the visa must appear in person at the consulate to sign the application form, meaning the process cannot be completed entirely by post or through a representative.
Italy's Elective Residency Visa is broadly considered one of the more attractive long-stay options available to non-European citizens seeking a permanent base in Europe, particularly for retirees and those with investment income who can meet the passive income threshold.
UAE announces amount for retirement residency permit
Meanwhile, Legit.ng reported that the UAE government published the full conditions foreigners must meet to obtain a retirement residence permit in the country.
Applicants must be at least 55 years old or have worked for a minimum of 15 years before retirement to be eligible for this residency permit.
Source: Legit.ng
