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How do I find philanthropic funds as investments for my Italian resident visa?

I am interested in the investor visa through helping recover cultural assets and landscapes, but where do I start that process? How can I find one to help? Is there a list, or do I have to know the right people and organizations that are accepting funds?

  • Mazzeschi Srl
    January 17, 2019

    There is no Government list or website listing these kind of projects. My suggestion is that once you have identified the scope of your donation (cultural, landscape, environment), you should approach some entities that could be interested.

  • LCA Studio Legale
    January 18, 2019

    Considering that an official list of projects does not exist, if you are interested in investing in projects related to cultural assets and landscapes, you may decide to directly contact the Ministry of Cultural Heritage and Activities (Ministero per i Beni e le Attività Culturali - MiBAC) in order to obtain information as well as entities that are currently undertaking projects in this field.

  • January 18, 2019

    The investor visa, or so-called Golden Visa, was introduced by Italian law in 2016 in order to attract foreign investments in Italy. In particular, if you are an investor, this specific regulation, within immigration law, allows you the entrance and the accommodation in Italy for periods exceeding three months, outside the quotas system. This is possible if the you make: an investment of at least 2 million euros in securities issued by the Italian government; an investment of at least 1 million in equity instruments of a company incorporated and operating in Italy; an investment of at least 500,000 into an existing Italian innovative start-up company; or a philanthropic donation of at least 1 million to support a public interest project, in the fields of culture, education, immigration management, scientific research, recovery of cultural and landscape assets. Therefore, an investment in a non-regulated Italian limited liability company that will carry out activities like the acquisition of interests, shares, shareholdings in other companies or assets would be considered a valid investment that meets the investor visa requirement. Before submitting your application, you need to know the following. First, the issuance of the visa and the relevant resident permit are subject to verification of an actual investment or donation, provided that it is kept for at least two years. Second, the issuance and the validity of the Golden Visa are also subject to verification of the lawful source of the investment. Third, the Golden Visa is issued by an ad-hoc interministerial committee. The decisions of this committee will be approved by a majority of the members, except those concerning the release of the certificate of no impediment (Nulla Osta) to entry in Italy, which will be approved in the absence of opposing votes. In order to apply you shall submit to the committee: copy of a passport valid at least three months beyond the visa validity; documentation proving the beneficial ownership of the sums used for the investments and that these sums are available and can be readily transferred in Italy; a certification proving the lawful source of the funds, which consists in a self-declaration of the applicant and a copy of the applicant’s criminal records that shows the lack of criminal convictions and pending charges in the 10 years prior to the application; a declaration by which you commit to make, within three months from entrance in Italy, the investment and to keep it for at least two years. The declaration must also include a description of the recipient and the characteristics of the investment. The committee will render a decision within 30 days from the submission of the application. In case of a favorable decision, the interministerial committee will send the clearance to the relevant Italian diplomatic authority that will issue the investor visa.

  • Avv. Andrea Parisi
    January 28, 2019

    Italy is full of cultural assets and landscapes to be renovated, so you could start by asking the "Soprintendenza Belle Arti e Paesaggio" closest to the asset or landscape you choose to finance. It's an office that looks after Italian cultural and natural heritage and, if you still are looking for anything to work on, it could give you suggestions. There are many organizations that accept funds, but I strongly suggest you to move ahead together with the government's agencies in order to avoid bad surprises. In general, you have to demonstrate effectively holding or being a beneficiary of at least 1 million euros. The amount must be available and transferable to Italy before making a philanthropic donation of said amount to support a project of public interest in the fields of culture, education, management of immigration, scientific research, recovery of cultural goods and landscape heritage.