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What happens if I can’t prove that the required capital has been invested in time for Italy’s investor visa?

I understand that when applying for the investor visa in Italy, one doesn’t need to make the required investment until the visa is approved. However, after entering the border, an investor must show proof that he or she has made the investment as promised within three months. Is there any way to apply for an extension? What happens to investors if they cannot show such a proof in time?

  • Mazzeschi Srl
    July 30, 2019

    The foreign national demonstrates that s/he has executed the investment or donation approved by the committee by sending adequate supporting documentation through the platform within three months of entering Italy. In case the investment consists in the purchase of government bonds or shares, it is mandatory to deposit them in a financial institution domiciled in Italy. Compliance with this obligation shall be demonstrated by the investor by presenting the relevant certificate of deposit of the securities/shares. If at time of demonstrating the execution of the investment any change occurred in the circumstances that enabled the issue of the Nulla Osta and of the visa, the committee will revoke the visa or the resident permit, if it has been already issued. Changes of such preconditions will be deemed admissible only in exceptional circumstances, assessed by the committee on a case by case basis. The foreign citizen will be asked to provide adequate justification for the changed circumstances and appropriate supporting documents. This new evidence will then be analyzed by the committee, which will decide on their admissibility.

  • LCA Studio Legale
    July 30, 2019

    Failure to fully perform the investment within the three months after entering Italy with the investor visa on the passport will result in the revocation of the authorization to remain in Italy and the applicant will be compelled to leave the Italian territory.