Italian Residence Permit for a Financially Independent Family with a Child

Friends, we are often asked where else, apart from France, Russians can obtain a residence permit in Europe in 2024. One of the most popular current destinations requested by our clients is Italy. Despite the suspension of the Italian program for investors from Russia, those wishing to become residents of this country choose a more affordable option based on financial independence. How does it work? We tell you in this article about obtaining an Italian residence permit for family - financially independent persons (FIP).

To get an Italian residence permit under the category for FNP, or otherwise Residenza Elettiva, you need to:

• show the presence of passive income of 31160€ per year/person;
• have a permanent residence address in Italy;
• take out medical insurance with full coverage.

Together with the main applicant, spouses, and unmarried children under the age of 21 can apply for the new status. At first glance, the procedure is simple. At the initial stage, the applicant receives a national visa type D, and after a year changes it to a residence permit card with unlimited prolongation. The permit allows you to travel freely in Schengen countries and live in any region of the country all year round.

In July this year, we have once again seen that obtaining an Italian residence permit on the motive of the chosen residence is a working option. In our new case study, we share the story of George and his family, who with our help became Italian residents in 6 months.

Client's story: Italian residence permit for a family

In December, Georgy approached our agency with a request to obtain an Italian Golden Visa for investments. At the first meeting with the manager, the entrepreneur told us that he owned a yacht club in St. Petersburg, had UAE residency for investments in a local company, lived permanently in Moscow, and often traveled with his family. The businessman decided to acquire a “reserve airfield” and obtain a residence permit in Europe.

This is the direction Georgi chose for family reasons. His wife Irina's eldest son is a promising IT specialist, who last year, together with a team of developers, received approval from the Italian committee for his author's project and received a residence permit. By choosing to formalize through investment in his startup, the stepfather hoped to support the young specialist and improve the quality of life for himself, his wife, and their common daughter Elena.

We performed a preliminary check of the client, made sure that he met the conditions of the program, and began to collect a case file of documents. In parallel with this task, at the client's request, our specialist looked for an apartment in Turin and after approval started the purchase procedure. Unfortunately, in March the residence permit program for investors with Russian citizenship was frozen, and we had to develop an alternative plan as a matter of urgency. We suggested that Georgiy apply for residency under the category of FNP.

Our manager advised the client in detail about all the pros and differences between this type of permit and the investor visa. Georgy agreed with our arguments, as this method turned out to be even less costly for him than a residence permit for investment. In addition, he planned to live in the country with his family for more than 183 days a year. We decided not to stop the procedure of remote purchase of housing because the option for FNP also requires a permanent address in the country, and candidates for residency, owning real estate in Italy, have priority when considering the application. Having discussed the main points, we concluded the contract with the client and started working on the case.

Preparing the dossier and buying the property

At the preparatory stage, we were first of all concerned with collecting financial documentation confirming the existence of a sufficient level of passive income for the last three years. As its source, Georgiy provided us with the following information: long-term rent of two cottages in the Leningrad region, an apartment in the central district of Moscow, 2 apartments in the Emirates, and another commercial property. Since the client planned to include his wife and daughter in the application, the minimum threshold for passive annual income for the family was 94,000€. Georgi's income in this category exceeded it by more than 2x and amounted to 240,000€ per year.

After that, we proceeded to gather other paperwork. Namely:

• Criminal record certificate for the client and his/her spouse;
• UAE residents card;
• paid medical insurance (the client has purchased it in the Emirates on his/her own);
• marriage certificate;
• child's birth certificate;
• documents for the purchased real estate;
• a motivation letter with a brief explanation of the reasons for the desire to change the place of residence.

We also needed a document confirming the enrollment of Georgi's daughter in a school in Turin, taking into account the new place of residence and the rating of educational institutions. We chose a good lyceum for Elena, as well as language courses to make it easier for her to adapt to the new place.

Then, using a power of attorney from George, we sent an application to Questura to assign the client a code fiscale (analogous to our TIN) to open an account in a local bank. Only his passport was required. In a week the matter was solved. With the received number and Emirates resident card we helped Georgiy to open an account.

When all formalities were settled, GARANT.in specialists contacted a realtor in Italy for discussion. We checked the apartment against the state registers and prepared a purchase offer document and a preliminary version of the purchase agreement with the amounts of the deposit and the full value of the property. After the remote signing of the preliminary contract, Georgiy transferred the agreed amount of down payment to the seller. A week later, our lawyer representing the client signed the sales contract and Georgiy transferred the balance of the price to the notary's account. A couple of months later, in addition to the property papers issued by the notary, we had a fresh cadastral extract obtained through the official portal of the state agency.

We translated the collected case into Italian and apostilled it. After that, we attached the application for a national visa D from Georgi and sent it to the Italian consulate in Russia with a check confirming the payment of the consular fee.

The process of obtaining an Italian residence permit

It took 1.5 months for the Consulate to consider the application. During this time we monitored the status of the application through Georgy's cabinet. A week after approval our client received passports with visas pasted in.

Within a couple of weeks, the family prepared for the move and traveled to Turin to complete the residence permit procedure. After crossing the border, he and his wife went to the local Questura with the original documents, where the applicants paid the fee and submitted biometrics. Consideration of Georgi's application took another 1.5 months, after which the couple received their residence permit cards!

Now the couple are settling in at the new place, George and Irina continue to work remotely, and their daughter is actively learning Italian thanks to the courses we selected.

Nuances and advantages of Italian residence permit for FNP

Italian residence permit for FNP is suitable if you:

• do not plan to work in the country;
• have a high level of passive foreign income;
• do not want to completely lose contact with Russia;
• have your housing in Italy (theoretically, you can apply for the status with a long-term lease agreement).

Residenza Elettiva visa is suitable for those working remotely, pensioners, and simply wealthy foreigners who want to move to this European country. Among the pros of this type of residence permit are:

• ease and efficiency of registration;
• no need for permanent residence;
• the possibility of obtaining residency for the whole family;
• the need to obtain tax residency only when staying in the country for more than 183 days a year.

If we compare the option for FNP with the investor visa, in the case of the latter, only the investor receives a residence permit, while the permit for the family is issued separately under the reunification program. In addition, Russian citizenship makes filing impossible.

Italian residence permits for financially independent persons are not converted into another type and do not give residents the right to work. You can solve this issue through the opening of your own company in another European country or registration of IE on relatives.

Considering this option for yourself? Turning to professionals in the field of immigration law from the agency GARANT.in will help to avoid many problems and reduce waiting time. We are ready to help in any situation.