The elective residence visa allows foreigners wishing to settle in Italy to enter Italy and the EU states. The applicant must demonstrate that he has sufficient resources to support himself without exercising any work activity.
He will also have to have a house to be elected as a residence and economic resources such as:
Income from real estate
Stable economic and commercial activities
Dividends from equity investments in Italy
Other sources other than subordinate work
The residence permit for elective residence can also be issued to cohabiting spouses, minor children, adult cohabiting and dependent children and dependent cohabiting parents. It is also issued to the foreign citizen as a family member of a community citizen, when it cannot fall within the definition of family member, in particular for cohabitants of EU citizens.
The duration of the residence permit has a maximum validity of one year, it can be renewed from year to year, without requiring a visa each time. It cannot be renewed or extended when it appears that the foreigner has interrupted his stay in Italy for a continuous period of more than six months. With the exception that said interruption depended on the need to fulfill military obligations or on other serious and proven reasons.
After 5 years it is possible to apply for the residence card, i.e. the EU residence permit for long-term residents. After 10 years it is possible to apply for citizenship by residence.
Holders of a residence permit for reasons of elective residence have the right to reside throughout the national and EU territory. They can return you for the period corresponding to the duration of the residence permit. The holders can also register with the National Health Service for insurance coverage of health costs and take out a health insurance policy.
Stresa Luxury Real Estate is able to assist the customer, through its consultants, throughout the process for obtaining the residence permit.