Italian Startup VISA
What is an innovative startup?
It is a young unlisted and limited company whose business model is characterized by a strong technological character. It must fulfil specific requirements listed at Art.25 of Decree-Law no. 179/2012.
If you are thinking about moving to Italy as a professional, you may consider joining or starting an innovative startup business.
In this case, Italy provides a specific type of visa for foreign citizens: the Italian Startup Visa.
The Italian Startup Visa (ISV) is a new policy instrument aimed only to self-employers, hence it is still subject to the relevant requirements of self-employment visa.
This simplified and fast procedure to issue entry visas is thought for the strong presence of skilled entrepreneurs with a migrant background.
The ISV allows the holder to enter Italy as a self-employed worker through a completely digitized and simplified procedure, which structures as follows:
- The applicant must submit through email the required documentation: application form, passport, business plan, cover letter for proof of financial resources (no lower than €50.000);
- The Secretariat of the Italia Startup Visa program will carry out a preliminary check of the submitted documentation, that will be sent to the Technical Committee if positive.
- Within 30 days from submission, the Questura with jurisdiction over the area where the new company is going to be set will issue the nulla osta by email.
- Within 3 months from the nulla osta, the applicant must go to the relevant Italian consulate in his home country and, after a supplementary check, a startup self-employment entry visa will be issued, that must be used within 6 months.
- Within 8 days from arrival in Italy, the self-employed must apply for his permit. Once obtained, the ISV visa has a duration of 1 year, renewable for a maximum of 2 years.
After its expiry date, the residence permit may be renewed within 60 days for a maximum of two years. It can also be extended for a further two years.
After 5 years of continuous and legal residence, a permanent permit of stay is granted to the foreign citizen, upon proving sufficient financial resources and accommodation.
The renewal must be filed at the relevant Questura of the area where the applicant resides, showing documentation about the registration of the company and the proof of having gained legitimate sources over the course of the previous year.
Getting an Italian visa can be often confusing and, due to the amount of documentation required, complicated. Furthermore, Italian immigration law can frequently change and you should always check the relevant information before starting any procedure.
Therefore, it is always recommended to be advised by professionals and specialists. VGS Lawyers can assist you through this procedure and follow your specific needs.