Boss Lady

Retire to Italy without the expensive investor’s visa process

on

This guide outlines how business people can retire to Italy more economically with the elective residence visa process.

Retiring abroad is like getting a fresh start when you can actually enjoy life without work pressures and family responsibilities. Nothing gets better than enjoying these golden years at a place that offers peaceful life and quality amenities. You may even want to include your loved ones in the fresh start. But the quality of life depends on the destination you choose for retirement, so do your due diligence before picking it. Italy is one of the favorite retirement hubs because it offers a luxurious lifestyle and safety to seniors.

The culture is warm, and people are receptive to foreigners, so you can expect to blend in effortlessly. The best part when you choose to retire to Italy is the ease of immigration, as you need not go through a long process to live legally in the country. You can rely on the elective residence visa as your gateway to Italy. It lets you make a smooth transition, and bring your family along if you want. If you wish to explore this opportunity, you can get qualified assistance from Bersani Law Firm for the application process to retire to Italy.

Process to retire to Italy

Let us explain how an elective residency visa can make your retirement in Italy an easy-breezy experience.

Eligibility for the elective residence visa

You need not do much to qualify for an elective residence visa to retire to Italy, and eligibility boils down to having adequate funds to support yourself in Italy. It is a long-stay option that lets you live in the country as a retiree. But remember that you cannot work here as a resident, but you must be financially independent, You must have a regular income from passive sources such as pensions, investments, and savings to sustain yourself financially. The elective residence visa is valid for one year, though its renewal term is two years subsequently.

Unlike the investor visa, you need not bring hefty funds with this option. But you can still get residency benefits like free healthcare, free education for your children in public universities, and tax limitations. It makes a good option for retirees looking forward to a better life even if they have limited resources. You only need a regular passive income source to qualify.

Documentation and requirements

While the eligibility for the elective residency visa sounds straightforward, it has stringent documentation requirements. Like any other immigration option, you must get a head start with documentation to reach the goal easily. Essentially, you need to validate your ability to provide for yourself and your family even without working in Italy. Here are the documentation and other requirements you need to fulfill-

  • You must have a stable income of at least € 32,000 per year from passive income. The condition is stringent, so you cannot count on active income and savings to qualify. The minimum requirement increases by 20% per dependent coming with you. You require bank documents to validate the ability to sustain yourself and your dependents financially.
  • Besides a regular passive income stream as a retiree, you must have suitable lodging in Italy. A rental arrangement, a lease agreement, or purchase proof of a property is valid for eligibility. Remember that a hotel booking does not qualify you for this condition.
  • Italy covers its residents with a universal healthcare system, but elective residence visa applicants must provide proof of private health insurance as personal coverage until getting residency. You will need to buy an international health insurance policy that covers € 30,000 a year and medical expenses in EU member states.
  • Other documentary requirements include essentials such as a valid passport, marriage and birth certificates for your family members, passport-size pictures, and police clearances.

Completion of the application process

Once you have your documents in place, you can proceed with the application process at your local consulate. Experts recommend seeking expert immigration assistance to make the process a breeze. They can help you double-check your eligibility and documentation to prevent roadblocks. At this stage, you can book your consulate appointment and prepare for your visa interview. You can land in Italy for a dream life after retirement after obtaining this long-stay immigration opportunity. Your family members can join you with additional income proof. Ensure to register within eight days of landing and apply for the residence permit.

Get the residence permit

The residence permit process for retirees landing with an elective residence visa to retire to Italy is pretty simple. You can get started by obtaining a residence permit application kit from the post office of the place where you plan to live. Complete the kit and submit it at the post office. You will have to provide photocopies of all the required documents at this stage. The post office gives a Questura (police headquarters) appointment for the next phase. At this stage, you will have to visit your local Questura to provide the original documents. They will ask some questions and take your fingerprints during the appointment.

You will get your Residence Permit card after a minimal processing period. The resident permit is typically for one to two years, and you can renew it before the expiration. Living in Italy for five years qualifies you for a permanent residence permit. You can apply for citizenship by naturalization after completing a decade here. A second passport sets you up for a great life ahead because it opens up several benefits beyond residency. The best part is that you can pass it on to your children and the generations to come.

Conclusion

The Italian elective residence visa process is not daunting, but you may still face roadblocks at some point. It mainly happens due to a lack of awareness about the process and documentation. Having an expert at your side is a good idea because they can guide you in the right direction. They cut the hassles and ensure good planning to help you realize your retirement goals at the earliest. Expert assistance is even more crucial if you have a long-term vision of obtaining Italian citizenship. It involves several formalities and processes regarding the renewal of permits and other rules, and you can rely on a professional for guidance.

 

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

Recommended for you