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How would the performance of my start-up business impact my eligibility to renew my Italy investor visa?

I want to know how the renewal of the investor visa works. What documents do I need to provide? Will the performance of the start-up business be taken into consideration?

  • LCA Studio Legale
    May 16, 2019

    The law does not provide any specific indication regarding the performance of the innovative start-up. However, considering that the main requirement to keep the investor visa and resident permit is to maintain the investment made, the company shall be still active at the time of the renewal of the resident permit. To renew the permit, applicants must demonstrate the maintenance of the investment made and shall provide: a letter signed by the legal representative of the innovative start-up confirming that the investment has been maintained; a copy of the shareholder's book; and a copy of a securities dossier in case of a listed company.

  • Mazzeschi Srl
    May 16, 2019

    Regarding the conditions for maintaining the permit, the investor visa holder must maintain the investment for the entire duration of the residence permit. Otherwise, the permit will be revoked and it will not be possible to renew it. The beneficiary must retain his/her original investment. Even when the permit has already been issued, the holder may not alter the destination of the investment under any circumstances. Otherwise, the permit will be revoked and cannot be renewed. If the foreign national intends to have an investor visa for Italy to execute a new investment or donation to replace the previous one, s/he must submit a new application for an investor visa. If the secretariat of the committee or other competent authorities find out that the investment or donation has been withdrawn, the committee, through its representative of the Ministry of the Interior, will officially request the responsible Questura to revoke the residence permit. The investor residence permit is valid for two years and can be renewed for further three-year periods. According to the law, the renewal of the residence permit is subject to a preliminary approval by the committee, which must ensure that the investment/donation has been maintained for the entire validity period of the residence permit. The evaluation of the committee, if positive, results in the issue of certificate of no impediment to the renewal of the residence permit ("nulla osta al rinnovo"). Terms and conditions of ordinary regulations on renewal of long-term residence permits apply to the investor residence permit. In particular, it should be noted that the applicant is not allowed to leave Italy for a period longer than half of the validity period of the residence permit. The application for a renewal of the residence permit must be submitted to the Questura in charge at least 60 days before its expiry date, pursuant to applicable regulations on the matter.