2 de September, 2024
Have you ever considered moving to Italy for retirement? Italy is one of the most sought-after destinations in the world for those looking to spend their retirement years with quality of life, safety, and comfort. In fact, Italy ranks 11th in the International Living rankings for 2024. With its stunning landscapes, pleasant climate, and rich culture, the country provides an ideal environment for those wanting to enjoy their golden years after decades of hard work. The Italy Retirement Visa, known as the Italy Elective Residence Visa (Visto per Residenza Elettiva), opens the door for non-European Union citizens who wish to live in Italy with income earned abroad. This visa allows retirees with stable and proven passive income to legally establish residency in Italy, similar to the non-lucrative visa in Spain or Portugal’s D7 visa. In this article, we will explore how the process works and what the requirements are to obtain this visa.
Realizing your goal of living in Europe or obtaining European citizenship can be simpler than you think. We offer personalized support to make the immigration process more accessible and uncomplicated.
If you do not have Italian citizenship, nor any other European citizenship that allows you to obtain a European certificate, you will need a visa to live in Italy. For retirees, the recommended visa is the residenza elettiva visa. To apply, you must have a source of income that allows you to live abroad without needing to work in Italy. In other words, you will need to prove that you have sufficient passive income to support yourself and your family (if applicable). Then, you simply apply for the visa at the Italian consulate in the region where you live, providing all the required documentation.
The Retirement Visa for Italy, or Visto per Residenza Elettiva, is intended for those who wish to live in Italy without engaging in paid work. In other words, it is ideal for individuals with stable passive income, such as retirement funds or investment earnings. The visa is initially valid for one year and can be renewed, allowing for an extended stay in the country.
For the Elective Residency Visa (Visa D), it is necessary to prove an annual passive income of at least €31,000 for an individual application. Although this is the official amount, some consulates may require up to €35,000. For family applications, you must add an additional 20% of this amount for a spouse and 5% for each child.
Accepted forms of passive income include:
These income sources must be stable, consistent, and, most importantly, verifiable.
There are various ways to prove income when applying for the retirement visa. For example:
Yes. The Elective Residence Visa grants the visa holder the right to move to Italy with their spouse and children (whether minors or economically dependent adults).
To extend the visa to your family, you must include your spouse’s and children’s information in the visa application form.
All dependents must also apply for the Permesso di soggiorno. Adult children may later convert their Permesso for work purposes if they secure regular employment in Italy.
In 2024, the total cost for applying for the retirement visa in Italy is U$125.
In addition to the visa fee, you should also consider expenses for certified translations and document authentications. Furthermore, it’s important to budget for the fees associated with hiring a lawyer or specialized consultancy to assist you throughout the process.
The documents must be submitted at an Italian consulate in the city or region where you live or at the Italian Embassy, by prior appointment.
To apply for the Italy Retirement Visa, you must visit the Italian Consulate in your country of residence. To find the nearest consulate, visit the website of the Italian Ministry of Foreign Affairs and International Cooperation.
The visa application process involves submitting all the required documents, properly translated and certified, as well as paying the necessary fees and completing specific forms.
After approval, the next step is to obtain the Permesso di Soggiorno, the document that allows legal residence in the country.
In addition to the excellent quality of life, retirees who become tax residents in Italy can benefit from special tax regimes. Those who choose to live in small towns in the southern part of the country can pay a reduced rate of only 7% on income earned abroad, valid for up to ten years. Compared to the standard 26% rate, this reduction provides retirees with greater financial stability. To qualify, the retiree must not have been a tax resident in Italy for the past 5 years. Learn more about the special tax regimes available to new tax residents in Italy and understand how to take advantage of them.
Embarking on the journey of retirement in Italy can be a truly transformative experience. Whether you have an adventurous spirit seeking new discoveries or you desire a more relaxed pace of life, the Italian peninsula offers the perfect setting for this new chapter of your life.
Picture yourself exploring historic cities, learning a new language, savoring the renowned local cuisine, and being enchanted by the stunning Mediterranean landscapes. To make this dream a reality, it’s essential to obtain your Italian citizenship or the appropriate visa and ensure all your documentation is properly submitted. In this process, the support of a specialized consultancy like Atlantic Bridge can make all the difference!
Contact us and let us help you plan this exciting new phase of your life, turning the idea of retirement in Italy into a truly enriching and memorable experience.
Author:
Silvia Resende
