To apply for an elective residence visa and stay permit, the main requirement is to provide evidence of a substantial and steady passive income deriving from commercial and economic activities, pensions, rental income, annuities, investments and bonds. In the specific case of passive income deriving from bonds, a report from your bank describing your portfolio and the amount of financial resources that you hold, including bank accounts, properties, pensions, equity of companies and bonds, shall be presented. In case of a spouse applying together with the applicant, the amount of the passive income shall be increased by 20% with regards to the minimum amount set forth by the law, i.e. 31,000 euros.
How can I apply for an elective residence visa of Italy with income from bond investments?
I hold several bonds with investment periods ranging from 3 years to 10 years. The annual yields of these bonds are over 31,000 euros. Will this be considered passive income and qualify me for an elective residence visa of Italy? If my wife wants to join me in Italy, how much passive income we need to have?
In order to be granted an Italian elective residence visa you have to submit your application at the Italian consulate, no matter the means your income comes from. Indeed, Italian authorities are free to consider suitable the income from bond investments, even though you will always have to prove that you have at your disposal enough money to "survive" in Italy. Therefore, money should be "in your pocket", not expected to be paid according to your investment periods ranging from three years to 10 years. The annual yields of these bonds are over 31,000 euros. So, it's sufficient as per Italian Law. However, I doubt the Italian government would consider that amount as ready to be spent.
Income must be documented and detailed. It should be substantial and steady private income (including pensions or annuities) from property, stable economic and commercial activities, or from other sources and proof of financial means, such as letters from the applicant’s bank indicating the financial status of their accounts. This can include the amount of money in each account, a copy of last pension check received, etc. Salary or any form of compensation that applicant receives from working activities is not taken into account. Income must be increased by 20% for the spouse and 5% for each child.