Italy has ceased granting visas for investments to citizens of Russia and Belarus, as reported by Altreconomia. The Investor Visa for Italy program's website states that this decision was made by the Ministry for Business and Made in Italy on July 14, 2023, in response to last year's recommendations from the European Union.
The Investor Visa for Italy initiative was launched in 2017. It allows individuals to stay in the country for two years, offering tax benefits, and then after living in Italy, applicants can apply for permanent residency, followed by citizenship.
To qualify for the visa, non-European citizens must meet one of the following criteria: invest €250,000 in a local innovative startup, contribute €500,000 to an Italian limited liability company, invest €1 million in a social project, or invest €2 million in government bonds.
