Italy citizenship by investment: is it possible?

The official Investor Visa for Italy grants qualifying applicants a two-year visa based on specific investment options, rather than citizenship or an Italian passport. If your long-term goal is citizenship, you will need to meet Italy’s separate residence and naturalization requirements.

This guide explains the investment options and application process, as well as key considerations around long-term residence, tax, banking, and moving money to Italy.

Key takeaways

• Italy does not sell citizenship. It offers an investor visa for non-EU citizens.
• Eligible routes currently include government bonds, an Italian company, an innovative startup, or a philanthropic donation.
• The route is residence first. After arrival, you apply for a permesso di soggiorno (residence permit), then renew if the investment is maintained.
• Buying property in Italy does not qualify for the investor visa.
• If you are planning relocation costs or moving funds into euros, a Wise account can help with holding, converting, and sending money, but it is not part of the visa or citizenship process.

Does Italy offer citizenship by investment?

No. Italy does not have a direct citizenship by investment program. Instead, the Investor Visa for Italy allows qualifying non-EU nationals who make an approved investment or donation to enter Italy and obtain a residence permit. It provides a route to legal residence, but it does not grant citizenship, an Italian passport, or a special fast-track to either.

Only the investment and donation categories specified by the official program qualify, so simply making a large purchase, including buying property, is not enough. If citizenship is your long-term goal, you must qualify separately under Italy’s citizenship rules, which can include requirements relating to legal residence, Italian-language ability, and other eligibility checks.

If you’re still comparing routes, Italy’s wider visas and immigration system shows where the investor option fits.

How the Italy investor visa works

The official Investor Visa for Italy is a two-year visa for non-EU nationals who make a qualifying investment or donation. After entering Italy, you must apply within eight working days for a permesso di soggiorno (residence permit) at the relevant Questura (police headquarters). The investor residence permit is valid for two years from entry.

One advantage of the process is that you obtain the nulla osta and investor visa before completing the investment. Once you enter Italy, however, you must make the full qualifying investment or donation within three months or risk having the residence permit refused or revoked. Holding an investor residence permit does not in itself satisfy the residence requirements for Italian citizenship.

If you are planning relocation costs or moving funds into euros, a Wise account can help with multi-currency money management, but Wise does not provide immigration or legal services.

Wise account

Are you an expat or thinking of moving to Italy? Managing your money across borders shouldn’t be complicated. With a Wise account, you can hold over 40 currencies and pay with a Wise debit card in more than 150 countries. Whether you need to spend abroad, receive or send money home, Wise can help make international money management simpler.

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Who can apply?

The Investor Visa is aimed at non-EU nationals who can demonstrate that they have the required financial resources for an eligible investment or donation. Applicants must provide supporting documentation, including evidence of the availability and lawful origin of the funds and relevant criminal-record documentation, before the Investor Visa for Italy Committee will issue a nulla osta (certificate of no impediment).

Can family members join?

Eligible family members may be able to join the investor under Italy’s general family reunification rules. These can include a spouse, minor children and, under specific conditions, certain dependent adult children and parents. The eligibility criteria and supporting documents vary by family member, so check the current family reunification requirements before applying.

Which investments qualify in Italy?

The official program currently recognizes four routes. Figures below were reviewed in September 2026.

You must meet the minimum amount for a single qualifying category rather than combining smaller amounts across different routes. The investment or donation must also be maintained in accordance with the program rules if you want to retain and renew your investor residence permit.

Minimum amounts and what each route involves

The innovative startup route means backing a company that meets Italy’s legal startup criteria, rather than simply funding any new business. 

An Italian company route involves investing in a qualifying Italian limited company, while the government bond route covers specified Italian state securities and the philanthropic route supports qualifying projects of public interest.

The minimum amount is only one part of the decision. Investment risk, due diligence, liquidity, and the conditions attached to each route also matter.

Why property does not qualify

Buying a home, rental property, or renovation project in Italy does not qualify for the Investor Visa for Italy. The official program recognizes only the four categories above, and real estate is not one of them. Buying property in Italy does not qualify you for the investor visa.

How to apply for Italy’s investor visa

The basic order is simple: nulla osta first, consular visa second, investment after arrival.

1. Open an account on the official Investor Visa for Italy portal and select a qualifying investment or donation.
2. Complete the application and upload the required documents, including your passport, CV, evidence of your financial resources and their lawful origin, criminal-record documentation, and details of the proposed investment or donation.
3. Wait for the committee decision. The official process provides for an outcome within 30 days, although the procedure can be suspended if the Committee requests additional information.
4. If approved, use the nulla osta to apply for your investor visa at the competent Italian diplomatic or consular representation within six months of its issue.
5. After arrival, apply for your permesso di soggiorno within eight working days at the local Questura.
6. Complete the investment within three months of entry and upload proof.

The 30 day committee review is only one part of the overall timeline. Gathering documents, responding to requests for additional evidence, arranging the consular application, and completing post-arrival formalities can all add time.

Main steps from nulla osta to residence permit

The nulla osta is the official certificate of no impediment that allows you to move on to the consular visa stage. It does not remove the requirements that apply after you enter Italy.

Once in Italy, you must apply for the investor residence permit and complete the investment or donation within the required timeframe. You must also provide evidence of the completed investment through the Investor Visa for Italy portal.

Key steps: 

• Apply through the visa portal
• Get your nulla osta
• Apply for your Investor Visa within 6 months
• Arrive in Italy
• Obtain your residence permit (permesso di soggiorno)
• Make your investment or donation
• Renew your residence permit after two years
• Apply for permanent residence after 5 years, and Italian citizenship after 10 years (if you meet the necessary requirements) 

Documents, checks, and common delays

Depending on your circumstances and chosen investment route, supporting evidence can include:

• Valid passport 
• CV covering your main academic and professional experience
• Criminal record certificates from relevant countries
• Evidence that you own the required funds and that they are transferable and from a lawful source
• Certified translations or apostilles where required
• Documentation identifying the proposed investment or donation and, where required, evidence relating to the recipient

The Committee can request additional evidence or clarification if it needs more information, including further proof concerning the lawful origin of funds.

How residency can lead to permanent residence and citizenship

It is important not to confuse the investor route with a guaranteed path to Italian citizenship. The Investor Visa gives qualifying applicants a route to residence in Italy, but it does not provide automatic citizenship or a special fast-track to a passport. 

If citizenship is your eventual goal, you must separately meet the applicable naturalization requirements, including the required period of legal residence and other eligibility conditions. Simply making and maintaining the qualifying investment is not enough.

After at least five years of qualifying legal residence, you may be eligible to apply for permanent residence in Italy. This is not automatic either: applicants must meet additional requirements, including those relating to income and, in most cases, Italian-language ability.

Your residenza anagrafica – your official registration as a resident with an Italian municipality – is particularly important if citizenship is your long-term goal. Official guidance treats continuous municipal registration as part of legal residence, and a break or cancellation in that registration can interrupt the residence period used to qualify for citizenship.

A simple timeline is:

• Years 0 to 2, investor visa and initial residence permit
• Around year 5, potential eligibility for long-term or permanent residence
• Around year 10, potential eligibility to apply for citizenship by residence for most non-EU nationals, subject to all applicable requirements

No investment route guarantees that final step.

Continuous residence and language rules

• Long-term residence: Applicants for an EU long-term residence permit generally need at least five years of qualifying legal residence and must demonstrate Italian at A2 level or above, unless an exemption applies.
• Citizenship: Applicants for citizenship by residence generally need B1 Italian, unless an official exemption applies. They must also satisfy the residence, income and other applicable requirements.
• In practice: If citizenship is your long-term goal, maintaining lawful residence, continuous municipal registration, and accurate documentation from the beginning is important.

Tax residence and planning before year one

Immigration status and Italy tax residency are separate issues. Holding an Investor Visa or residence permit does not by itself determine your tax position, so consider the tax-residence rules before deciding how much time you will spend in Italy or establishing your home and personal ties there.

Some investors may also want to explore Italy’s special tax regimes for qualifying new residents or workers. Eligibility and tax treatment depend on your circumstances and the rules in force at the time, so check the latest Agenzia delle Entrate guidance or seek qualified tax advice before relying on a particular regime.

Tax, banking, and moving money to Italy

The visa decision is only one part of the move. You may also need a codice fiscale (Italian tax code), access to euros, and a plan for rent, utilities, and everyday banking.

Many expats use a combination of Italian and cross-border financial services. Major Italian banks offer accounts and payment services that can be useful for everyday life in Italy.

Having Italian account details can sometimes make local administration and payments more convenient, although an Italian bank account is not necessarily required for every payment.

Before you move money to Italy, check:

• When you will actually need euros, rather than converting funds simply because you expect visa approval. 
• What documentation your bank or payment provider may require for large or unusual transfers. 
• Whether and when you may become a tax resident in Italy. 
• Whether particular payments or services are easier to manage through an Italian account. 

How to manage cross border payments

A Wise account may help if you want to hold, convert, and spend in multiple currencies while planning your move or settling in Italy, subject to the features available for your account. For example, you could keep some relocation funds in your home currency, convert money into euros for rent and setup costs, and transfer funds when needed.

This can make managing relocation costs easier because, subject to availability and account terms, you can hold EUR alongside other supported currencies, convert funds when you need them, review applicable fees and exchange-rate information before making a conversion or transfer, and track transfers through your account. 

These features can be useful for planning expenses such as deposits, rent, travel, and other setup costs while keeping an eye on how much you are converting and sending.