What You Need to Retire in Italy

Updated on Friday 30th October 2020

Rate this article
based on 3 reviews


What You Need to Retire in Italy Image
Not only those who want to work or start a business in Italy have the chance of immigrating here. Italy has also become quite popular among those who have retired and are looking for a warm and safe country to relocate to.

Those who plan to retire in Italy have the possibility of doing that under specific conditions imposed by the government, among which applying for an elective residence visa.  It is also useful to know that the conditions for those interested in retiring in Italy are relatively easy compared to other countries. As a matter of fact, Italy is among the top 10 best countries in the world to retire to.

If you want to retire in Italy, our immigration lawyers have prepared a guide on the conditions and documents you need for completing the procedure as soon as possible. Also, if you need assistance in immigrating to Italy, our specialists are at your disposal with detailed information and guidance.
 

Conditions for expats retiring to Italy


In order to retire to Italy, a foreign citizen must comply with a few requirements. Among these, the foreign citizen must be retired and have a minimum annual income of 31,000 euros. For married couples seeking to retire in Italy, the minimum amount necessary is 38,000 euros. Additionally, if they want to immigrate to Italy with their children, at least 20,000 euros will be necessary for each dependent child.

Foreign citizens seeking to retire in Italy must apply for an elective residence visa. Even if it resembles the Italian residence permit, this type of visa is only issued to individuals respecting the income requirements mentioned above. Speaking about the income of those who want to retire in Italy, the amount of money can also represent the equivalent of the sums mentioned above in the currency of the applicant’s home country.

Our immigration lawyers in Italy can offer more information on the conditions related to obtaining an elective residence visa when retiring to this country.
 

The elective residence visa for those who retire to Italy


There are various types of visas that can be obtained by those who want to retire to Italy, however, for senior citizens of other countries, the work permit is not an option when these have surpassed the maximum age limit of employment. This is how the elective residence visa was created. However, this type of visa is not available for people who have reached the retirement age; therefore, it is quite versatile.

Those who plan to retire to Italy and have the financial means to live here without burdening the social care system can apply for this type of visa, which is also called the Italy retirement visa.

The elective residence visa is issued as a long-term residence permit and can be requested by those who want to relocate to this country permanently. With respect to the funds that must be evidenced by the applicants, these can have various sources, among which the accepted ones by the Italian Ministry of Interior are:
 
  • pension;
  • savings;
  • investments.

It should also be noted that this type of visa addresses non-EU residents, as EU citizens can freely relocate to Italy by registering with the local police station in the city they live in. As a matter of fact, once moved here, elective residence visa holders must also complete this step.

Our immigration lawyers in Italy will provide all the necessary details about how to apply for an elective residence visa if you plan to retire to this country.

 

Steps for expats looking to retire in Italy


In order to immigrate to Italy by applying for an elective residence permit, a foreign citizen must follow a few steps. These are:
 
  •           the procedure cannot be started while in Italy, therefore the applicant must contact the Italian Embassy or Consulate in their home country;
  •           the applicant must first book an appointment with the Italian Embassy or Consulate;
  •           the applicant is required to gather the necessary documents as presented by the Italian Embassy or Consulate representative;
  •           the visa application form can be obtained online with the Italian Embassy or Consulate in the candidate’s home country.

It is useful to know that the interview for an elective residence visa for Italy must be scheduled a few months in advance, which is why our immigration lawyers recommend you not to wait too long when you have decided to apply for such a visa.
 

Documents needed when applying for an Italian elective residence visa


Once the interview is scheduled, the candidate to retire in Italy must prepare the following documents when filing the application:
 
  •           the visa application form issued by the Italian Embassy or Consulate which must be duly completed;
  •           two passport-size photos which must be recent (no copies or printed photos are accepted);
  •           the passport which must be valid at the time of filing the application (a 3-month validity is required);
  •           a recent bank statement which shows the applicant has the required amount of money to qualify for the elective residence visa;
  •           evidence of having a place to stay in Italy is also required (a lease contract will suffice);
  •           health insurance which must have at least a one-year validity period and which must cover expenses of at least 30,000 euros per year.

The candidate must also submit the marriage certificate and the birth certificate. Also, where the application involves a married couple, both candidates must file their own visa application form. For each candidate, a visa application fee must be paid. The fee is the same no matter the country of origin of the candidates and is published by the Italian Embassy or Consulate in the local currency.

It must be noted that the elective residence visa for those who want to retire in Italy has a one-year validity period and can be renewed. Once the candidate arrives in Italy, he or she must follow the same steps as when applying for an Italian residence permit, meaning they need to register with the police department in the city he or she lives within 8 days.
 

The validity of the Italian elective residence visa


Those who want to retire to Italy can obtain long-term residence visas which enable them to live there for more than 90 days, however, just like an ordinary residence permit, this visa has a validity of 5 years. If the visa holders decide to remain here, the permit can be renewed.

After living for 10 years in Italy, these can apply for citizenship.

If you want to immigrate to Italy and have any questions about retirement options, our specialists are at your service for detailed answers.
 

The Golden Visa – another option for those who want to retire to Italy


Another possibility for those who want to retire to Italy is the Golden Visa Program which can be accessed by those willing to make a significant contribution to the local economy. This scheme is more flexible when it comes to procedure, however, the financial requirements must meet the investment option of the applicant.

There are several investment possibilities available under the Golden Visa Program, and these are:
 
  • business investment in a start-up company where the minimum amount required is 500,000 euros;
  • 1 million euros in a business venture which meets specific requirements imposed by the Italian government;
  • 1 million euros in a special project that has a significant contribution to the Italian economy;
  • the purchase of the government-approved bonds worth at least 2 million euros.

It should be noted that this option is sought by high net worth individuals seeking to retire to Italy. More details on the conditions related to moving to Italy by investment can be provided by our immigration lawyer.
 

Assistance in retiring to Italy


In order to make the best choice when deciding to retire to Italy, it is good to have the support of specialists who can guide you. Our immigration lawyers through the expat support they offer can be your guide during the application and post-application procedures.

Considering the visa application procedure must begin in your country of origin, you should know that each Embassy or Consulate can request more or fewer documents, which is where our lawyers can provide information in accordance with the Italian immigration regulations applicable to your situation.

Once you submit the application file, our immigration lawyers in Italy can guide through the next steps so that you can move right after the visa is issued, followed by registration with the local police station.
 

FAQ on how to retire to Italy

 
  1. Is there a minimum or maximum age under which an elective visa can be obtained?
The minimum age for applying for an elective residence permit is 18, however, there is no maximum age limit for this type of visa.
  1. Can I work in Italy if I retire here?
No, you cannot, as the elective residence visa is not meant for those who want to work in Italy.
  1. Can I buy a property if a retire to Italy?
Yes, you can purchase one or more properties if you retire to Italy. Also, you can live in one of them and rent the other and thus earn a passive income.
  1. How long does it take to obtain a visa if I want to retire to Italy?
The elective residence visa is issued in a timeframe ranging between 3 to 6 months.


If you need more information on how to retire in Italy, do not hesitate to contact us. We can help in various matters related to immigration to Italy.