Applicants of elective residence visas must prove the availability of legitimate income from sources other salaries for subordinate work and that they are able to maintain themselves autonomously through the use of such income without working in Italy. The income, which shall be regular and stable and likely to remain steady in the future, may derive from retirement or annuity, real estate properties, ownership of stable commercial activities outside Italy or other economic resources not deriving from employment activities. The number of such resources shall be not less than 31,159.29 euros per year, even though each embassy/consulate competent for the handling of the visa application may set a higher amount.
Applicants must be able to sustain themselves from their existing financial assets, such as annuities, stocks, pensions, bonds, and so forth. Documented and detailed guarantee of substantial and steady private income (including pensions or annuities) from properties, 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, including amount of money in each account, copy of last pension check received etc.