Elective Residency Visa
A visa for non-EU citizens with passive income who want to live in Italy without employment. Popular with retirees and independently wealthy individuals.
Overview
The Elective Residency Visa is a long-stay visa designed for non-EU citizens who have sufficient passive income and wish to live in Italy without engaging in employment. It is one of the most popular visa categories for retirees, early retirees, and independently wealthy individuals who want to enjoy the Italian lifestyle on their own financial terms.
Financial Requirements
Applicants must demonstrate stable and sufficient passive income to support themselves and any dependents during their stay in Italy.
- Approximately €31,000/year for a single applicant
- +20% for a spouse
- +5% per dependent child
Accepted income sources: Pensions, rental income (registered contracts), dividends, trusts, and annuities.
Not accepted: Cryptocurrency gains and active business income.
Housing Requirements
Applicants must demonstrate they have suitable accommodation in Italy. This means either owning property (evidenced by a notarial deed), having a registered rental contract, or having a registered loan for use (commodato). Temporary accommodation such as Airbnb bookings or hotel reservations is not accepted for this visa.
Health Insurance
A private health insurance policy with a minimum coverage of €30,000 is required, covering medical care, hospitalization, and emergencies throughout Italy and the Schengen area. After entering Italy and obtaining your residence permit, you may optionally enroll in the Italian National Health Service (SSN).
Typical Documentation
- Valid passport (6+ months validity)
- Passport-sized photos
- Proof of passive income (~€31,000+/year): pension statements, rental agreements, dividend statements, trust documentation
- Bank statements (minimum 3-6 months showing sufficient funds)
- Proof of accommodation (property deed or registered rental contract)
- Private health insurance policy (€30,000+ coverage)
- Criminal record certificate (apostilled, translated)
- Proof of financial means to support dependents if applicable
Application & Timeline
The visa application is submitted at the Italian consulate in your country of residence. Once approved, the visa is valid for 365 days. Upon arrival in Italy, you must apply for a residence permit (permesso di soggiorno) within 8 working days. The initial residence permit is valid for 1 year and is renewable.
Pathway to Permanent Residency & Citizenship
- After 5 years of continuous residency, you may apply for an EU long-term residence permit
- After 10 years of legal residency (2 years if you have Italian descendants), you may apply for Italian citizenship by naturalization
Tax Benefits
New residents transferring their tax residency to Italy may qualify for the €200,000 flat tax on foreign-sourced income, regardless of the amount earned abroad. Foreign pensioners who relocate to qualifying small municipalities in Southern Italy may instead be eligible for a special 7% flat tax on their pension income.
Important Note on Employment
Employment is strictly prohibited under the Elective Residency Visa. This visa is exclusively for individuals who can sustain themselves through passive income. If you intend to work in Italy, you will need to explore a different visa category.
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