Italian immigration law provides for a specific type of visa and residence permit called the "elective residence visa", which allows non-EU nationals who have sufficient funds and economic resources to support themselves during their stay without working, to move to Italy. Applicants shall be able to demonstrate the availability (i) of steady, substantial and passive income (rents, existing financial assets, such as annuities, stocks, pensions, bonds etc) not deriving from work activities and equal to at least approximately 32,000 per year (even though Italian Consular authorities may set higher minimum thresholds) and (ii) an accommodation in Italy (rented or owned property).
How can foreign investors gain residency in Italy if they have sufficient funds to support themselves?
I've heard that Italy gives residency to foreigners who can prove they have a regular global income of 32,000 euros per year. Is that true? What other eligibility criteria such as language requirements would I have to fulfill?
You can apply for a Visto Residenza Elettiva, for which you need to have an income of at least 31,000 euros per year plus 20% for the spouse and 5% more for each child younger than 18; accommodation that can be rented; no language test is required; this visa does not allow any kind of work, accordingly you must prove that your income derives from other sources.