Italy Golden Visa for UK citizens: complete post-Brexit investment guide

The Italy Golden Visa, or the Investor Visa, offers UK nationals a pathway to residency through qualifying investments starting at €250,000. It is set out in Article 26-bis of Italy’s Immigration Act[1], so core changes generally require primary legislation, while procedures are implemented through interministerial rules.

Since its launch in 2017, the Italy Golden Visa has attracted a steadily growing number of non-EU high-net-worth investors. Applications rose from just 7 in 2018 to 209 by December 2025, an average annual increase of about 62%[2]. For UK nationals, the Italy Golden Visa has emerged as a strategic route to restore EU mobility, attractive tax planning options, and a long-term path to Italian citizenship.

Eligible applicants must be over 18, hold sufficient legal capital, maintain valid health insurance with minimum coverage of €30,000 for emergency medical expenses and repatriation across the Schengen Area, and possess a clean criminal record. 

Four investment routes are available[3]:

• €250,000 in innovative startups;
• €500,000 in an Italian limited company;
• €1 million as a philanthropic donation to eligible cultural or environmental projects;
• €2 million in Italian government bonds with a minimum 2-year maturity.

The full application process typically takes at least 4 months, and the initial residence permit is valid for 2 years, renewable in 3-year cycles. 

After 10 years of legal residence, investors and their families may apply for Italian citizenship, subject to Italian language proficiency at B1 level and passing a civic integration examination.

The Italy Golden Visa gives UK citizens the opportunity to obtain residency in one of Europe’s most attractive destinations. Investors gain access to healthcare and education, along with the legal right to work or run a business in Italy.

1. Flexible residence

The Golden Visa gives an investor the opportunity to visit Italy at any time, even when the country’s borders are closed to foreigners. Residents can stay in the country as long as they want. Simultaneously, they do not have to live in Italy if they are not planning to acquire citizenship. 

This flexibility allows investors to maintain their existing business operations, family commitments, and professional activities in other countries while holding valid Italian residence status.

2. Access to the special tax regime

Tax incentives are available for UK citizens residing in Italy, but acquiring tax residency status is not mandatory. Foreigners become Italian residents for tax purposes only if they spend at least 183 days a year there. 

To apply for a special tax regime[4], UK applicants for an Italy Golden Visa have to pay an annual fee of €300,000 instead of standard progressive taxes on their global earnings. The duration of the special tax regime is 15 years. Additional family members can also opt into this regime by paying an extra €50,000 per person annually[5].

3. Residency for family members

The investor is able to add their close family members to the application, and they will also obtain residency. Each dependent family member receives the same residence rights as the primary applicant.

Eligible family members include the following:

• investor’s spouse or registered partner;
• minor children under 18 years of age; 
• adult children over 18 who are unmarried and financially dependent on the investor;
• parents who are financially dependent on the main applicant.

4. Lower prices for children’s education

Adolescents with residence in Italy can enter Italian universities on the same conditions as citizens. Their tuition fees are lower than those for foreign students.

Additionally, residence permits grant access to Italy’s public education system at primary and secondary levels, offering high-quality instruction in state schools without additional fees.

5. Access to healthcare

Italy Golden Visa holders are entitled to access healthcare services in Italy. Once resident, investors can rely on Italy’s well-established healthcare system for medical treatment, ensuring continuity of care and a high standard of public health services.

6. Right to work and do business

The Golden Visa grants investors the legal right to work in Italy or establish and operate a business. This enables active participation in the Italian economy, whether through employment, entrepreneurship, or managing investments locally.

7. Path to Italian citizenship

The Italy Golden Visa can eventually lead to citizenship, and after 10 years of residency in Italy, an investor and their family can become fully fledged Italian citizens, provided they meet all the requirements.

Italian citizenship provides long-term security and the benefits of an EU passport, including the right to live and work anywhere in the European Union.

The conditions outlined by the Italian government are designed to attract serious investors who can substantially contribute to Italy’s economy. UK citizens must meet specific eligibility criteria covering age, financial capacity, legal compliance, and health coverage[6].

Eligibility criteria

All applicants must be over 18 years old, possess sufficient capital to invest, prove that the capital is legal, hold no criminal records, and maintain valid health insurance. 

Within 3 months after entering Italy with the Investor Visa, applicants need to make an investment of €250,000 to 2 million. Maintaining residency status implies continuing to make sizable investments in the country’s economy through chosen channels.

Source of funds and AML compliance

One of the most critical and scrutinised aspects of the Italy Golden Visa application is the demonstration that the investment capital has been acquired through legal means and complies with Italian and international anti-money laundering standards. 

Italy’s AML framework, governed by Legislative Decree 231/2007[7] and aligned with Financial Action Task Force recommendations, requires applicants to provide documents tracing the origin and movement of funds intended for investment.

UK citizens must submit the following:

1. Bank statements covering at least the preceding 12 months.
2. Certified tax returns demonstrating declared income consistent with the proposed investment amount.
3. Proof of asset sales such as property deeds or share transfer certificates if the funds were realised from liquidating holdings.
4. Letters of reference from regulated financial institutions confirming the legitimacy of account activity. 

For applicants who are politically exposed persons or who hold senior positions in government, international organisations, or state enterprises, enhanced Due Diligence procedures apply. This includes additional background checks and detailed explanations of wealth accumulation.

The Investor Visa Committee may request supplementary documents or conduct interviews if initial submissions raise questions about the consistency, timing, or jurisdiction of origin of the funds. 

UK nationals transferring funds from offshore accounts or trusts should be prepared to provide trust deeds, beneficiary statements, and proof of the trust’s legal establishment and tax compliance in its home jurisdiction.

Health insurance specifications

All applicants and their family members must hold valid health insurance that meets minimum coverage of at least €30,000 for emergency medical treatment, hospitalisation, and repatriation to the country of origin in the event of serious illness or death. Coverage must be valid throughout the entire Schengen Area, not solely within Italy.

UK citizens can satisfy this requirement through private international health insurance policies issued by insurers licensed in the EU, UK, or other jurisdictions, provided the policy terms explicitly include Schengen-wide coverage and the minimum €30,000 emergency threshold. 

Proof of insurance must be submitted at the time of the visa application and renewed for each subsequent residence permit renewal. Applicants who intend to register with the Italian National Health Service after obtaining residence may do so, but initial visa issuance still requires proof of private coverage.

The Italy Golden Visa offers four investment routes[6], each designed to channel foreign capital into strategic sectors of the Italian economy. UK citizens can choose the pathway that best aligns with their financial objectives, risk tolerance, and desired level of involvement in Italian economic activity.

The investment thresholds range from €250,000 for innovative startups to €2 million for government bonds, with each route carrying specific requirements, documentation standards, and holding period obligations.

Investment in an innovative startup — €250,000

This route both provides potential economic returns while also stimulating innovation within Italy’s economy, thus contributing positively to its growth trajectory. This option requires investing at least €250,000 in one or more Italian startups that meet the legal definition of an innovative startup as established by ministerial decree.

To qualify, a startup must be registered in the special section of the Italian Chamber of Commerce registry for innovative startups and have been incorporated or commenced operations in Italy within the preceding 5 years. It must also demonstrate one of the following:

• at least 15% of its annual expenses are dedicated to research and development activities;
• at least one-third of its workforce holds a PhD or is engaged in PhD research;
• it holds registered patents or software copyrights directly related to its business activity.

The investment may take the form of equity participation, convertible loans, or direct capital contributions, and it must remain committed for the entire duration of the residence permit.

The Ministry of Economic Development maintains a publicly accessible online registry of startups that meet these criteria, and investors are advised to consult this registry before committing funds. Immigrant Invest helps applicants to choose a suitable startup and conduct all required Due Diligence on it.

The startup investment option is particularly suitable for UK nationals with experience in venture capital, technology sectors, or entrepreneurship who seek both residency and active participation in Italy’s growing innovation ecosystem. The applicant is not required to assume operational management of the startup but may choose to serve on the board of directors or in an advisory capacity.

Limited company investment — €500,000

UK citizens may obtain an Italy Golden Visa by investing at least €500,000 in an Italian limited liability company, either by establishing a new company or by acquiring shares in an existing Italian-registered company. For investments in existing companies, the €500,000 may be deployed as a capital injection to fund expansion, acquisition of assets, or other strategic initiatives that create employment or enhance productivity.

The investment must create genuine economic activity in Italy. In practice, this usually means the company must employ at least 3 full-time equivalent staff within the first year and around 5 by the end of the second year. However, these requirements may vary depending on the sector and the business plan submitted.

The investor must hold the shares for the duration of the residence permit and demonstrate ongoing operational activity through annual financial statements, tax filings, and payroll records. The company must be registered with the Italian Companies Register and comply with all corporate governance, tax, and labour law obligations.

This route is well-suited for UK entrepreneurs, business owners, or corporate investors who wish to establish a commercial presence in Italy while securing residence rights. It offers greater control and potential for capital appreciation compared to passive bond investments, but it also entails higher operational complexity and commercial risk.

Philanthropic donation — €1 million

The philanthropic route requires UK citizens to make a donation of at least €1 million to public interest projects in the fields of culture, education, immigration management, scientific research, or environmental restoration.

Eligible projects must be of national or regional importance and must be formally endorsed or managed by recognised public bodies, such as the Ministry of Culture, the Ministry of Environment, public universities, or state-recognised foundations dedicated to heritage conservation.

Examples of qualifying projects include the following:

• restoration of historic monuments or archaeological sites;
• funding for public museums or cultural institutions, scholarships, or research grants at Italian universities;
• initiatives to support the integration of migrants and refugees;
• environmental protection programs such as reforestation, coastal preservation, or renewable energy research. 

The Investor Visa Committee evaluates philanthropic applications on a case-by-case basis and may require evidence of the project’s public endorsement, a detailed budget and impact plan, and confirmation that the recipient organisation is authorised to receive and administer such funds. 

The philanthropic donation is irreversible; unlike equity or bond investments, the donated capital is not returned to the investor. However, it may offer reputational benefits and alignment with corporate social responsibility or family legacy objectives, and it provides the same residence rights as other investment routes.

Purchase of government bonds — €2 million

The government bond route is the most conservative and the least risky investment option under the Italy Golden Visa. It requires a minimum contribution of €2 million in Italian government bonds with a maturity of at least 2 years. Eligible instruments include Buoni del Tesoro Poliennali, Certificati di Credito del Tesoro, and other sovereign debt securities issued by the Italian Treasury and traded on regulated markets. 

The bonds must be held in a custodian account at a financial institution authorised to operate in Italy, and the investor must maintain the full investment for the entire duration of the initial residence permit and any renewals.

This option provides capital preservation and liquidity advantages compared to equity or philanthropic routes, as government bonds are backed by the sovereign credit of the Italian state and may be sold on secondary markets, subject to the holding period requirement. However, the higher capital requirement makes this route suitable primarily for ultra-high-net-worth UK individuals seeking a low-risk residency solution with minimal operational involvement. 

Interest income from the bonds is subject to Italian withholding tax, but UK residents may be able to claim relief under the UK-Italy Double Taxation Convention depending on their overall tax residence status.

The investor must provide proof of bond purchase and custodian agreements at the time of the Nulla Osta application and must submit updated statements during residence permit renewals to confirm that the bonds remain held and have not been liquidated prematurely.

The Italian taxation system can be attractive for UK citizens due to the flat-tax regime for new residents. In addition, UK citizens can benefit from the Double Taxation Treaty between two countries.

Flat tax-regime

One of the most attractive features of the Italy Golden Visa for UK high-net-worth individuals is access to the Italian flat tax regime for new residents, formally known as the substitute tax on foreign income[4]. It was established under Article 24-bis of the Italian Income Tax Code. 

This regime allows qualifying individuals to pay a fixed annual tax of €300,000 on all foreign-source income, regardless of the amount, in lieu of Italy’s standard progressive income tax rates.

The flat tax regime covers all categories of foreign-source income, including:

• employment income;
• business profits;
• dividends;
• interest;
• rental income;
• capital gains arising outside Italy. 

Italian-source income remains subject to ordinary Italian tax rates of up to 43%[8] and cannot be included in the flat tax election. 

UK nationals with high global income may achieve significant tax savings, especially given that the UK additional income tax rate is 45% on taxable income above £125,140 in England, Wales and Northern Ireland.

The regime is available for a maximum period of 15 years from the date of election, and the taxpayer may revoke the election at any time, reverting to ordinary Italian taxation. Importantly, electing the flat tax does not exempt the taxpayer from obligations to report foreign assets or comply with international automatic exchange of information agreements; it merely substitutes the method of taxation.

Why is an Italian flat-tax regime attractive for UK nationals?

The Italy flat tax regime has attracted increased attention from UK high-net-worth individuals following two major policy changes in the United Kingdom: 

1. End of freedom of movement between the UK and EU on January 1st, 2021 as a result of Brexit.
2. Abolition of the UK non-domiciled tax status effective April 6th, 2025[10]. 

The former UK non-dom regime allowed UK tax residents to be taxed mainly on UK income and foreign income remitted to the UK. It has been replaced by a residence-based system taxing worldwide income, with a limited four-year exemption for new arrivals who were not UK tax resident in the previous 10 years.

For UK nationals and long-term residents with substantial foreign income, Italy’s flat tax regime may offer a lower overall tax burden, especially for individuals earning well above €200,000 who can shift tax residence to Italy. Tax residence is based on the standard 183-day rule, allowing some flexibility in living arrangements.

The UK reforms effective from April 6th, 2025 also include transitional and repatriation measures. Professional advice is essential to assess the impact of both regimes and manage UK exit tax risks, particularly for trusts and unrealised gains.

UK-Italy double tax treaty

UK citizens who acquire Italian residence under the Golden Visa must carefully consider the interaction between Italian tax residence, UK tax residence, and the provisions of the UK-Italy Double Taxation Convention[9]. 

Under UK domestic law, an individual is tax resident if they meet the Statutory Residence Test, which considers factors such as:

• number of days spent in the UK;
• family and accommodation ties;
• work location. 

Under Italian law, an individual becomes a tax resident if they are registered in the Italian population registry, have their habitual abode in Italy, or spend more than 183 days in Italy during a calendar year.

Article 4 of the UK-Italy Double Taxation Convention provides a hierarchy of tie-breaker tests to resolve dual residence. The rules are as follows:

• individual is deemed resident in the country where they have a permanent home available; 
• if permanent homes exist in both countries, residence is determined by the centre of vital interests, meaning personal and economic ties; 
• if the centre of vital interests cannot be determined, residence is assigned to the country of habitual abode; 
• if habitual abode is in both or neither, residence is assigned by the competent authorities through mutual agreement.

For UK nationals who maintain property, family, or business interests in the United Kingdom while holding an Italian Golden Visa and electing the flat tax regime, careful planning is required to ensure that tax residence is clearly established in Italy for treaty purposes, particularly if they do not intend to sever all UK ties. 

This typically involves the following:

• registering with the Italian population registry;
• relocating family members to Italy;
• ensuring that the principal place of residence and economic activity is demonstrably in Italy. 

UK nationals who remain UK tax residents for treaty purposes but elect the Italian flat tax regime may face challenges, as HMRC may assert taxing rights over worldwide income under UK domestic law, and the flat tax election in Italy does not automatically confer relief from UK taxation.

Additionally, UK nationals must comply with HMRC reporting obligations for foreign income and gains, including declaring Italian residence on UK self-assessment tax returns and reporting any Italian-source income or disposals of assets. Failure to manage these obligations can result in double taxation, penalties, or disputes with tax authorities in both jurisdictions.

In addition to the minimum investment threshold, applicants should account for legal fees, translation and notarisation fees, consular visa fees, and government application fees.

The following table summarises usual cost components for a single applicant and a family of 4 applying for the Italy Golden Visa under the €250,000 startup investment route. These costs are approximate and may vary depending on the complexity of the case, the choice of service providers, and the specific investment route selected.

UK applicants should also budget for housing in Italy, travel costs for initial visa appointments, Questura visits, and any required in-person meetings with investment counterparties or legal advisors.

The three most common reasons for Italy Golden Visa application rejections are as follows:

• insufficient or unclear documentation of source of funds;
• unclear or non-compliant investment structure;
• criminal record or security concerns.

UK applicants must be aware of risks, common rejection reasons, and ongoing compliance obligations to make informed decisions and avoid costly mistakes. Understanding these challenges helps investors prepare thoroughly and minimise the likelihood of delays or refusal.

Insufficient or unclear documentation of source of funds

Applicants fail to provide complete bank statements, tax returns, or asset sale documentation, or the documentation contains inconsistencies, unexplained large deposits, or evidence of transactions in high-risk jurisdictions without adequate explanation. 

Unclear or non-compliant investment structure

The proposed investment does not meet the legal criteria for one of the four qualifying routes, such as investing in a startup that is not registered in the special CCIAA section, purchasing bonds with maturity shorter than two years, or making donations to entities that lack government endorsement. 

Criminal record or security concerns

Applicants have undisclosed criminal convictions, pending criminal investigations, or associations with sanctioned individuals or entities. Even minor offences or administrative penalties in certain jurisdictions may trigger enhanced scrutiny or rejection.

UK applicants can reduce the risk of rejection by engaging experienced immigration lawyers to conduct pre-application Due Diligence, ensure that all documentation is complete and accurate, and verify that the proposed investment structure fully complies with current regulations.

The Italy Golden Visa residence permit is initially granted for 2 years and is renewable for successive 3-year periods, provided the investor continues to maintain the qualifying investment and meets all compliance obligations. 

Renewal applications must be submitted to the Questura at least 60 days before the expiration of the current permit, and applicants must provide updated documentation including the following:

• proof that the investment remains active;
• current financial statements for corporate or startup investments;
• custodian statements for bond investments;
• updated criminal record certificates and health insurance.

Failure to maintain the investment or submit renewal applications on time may result in the loss of residence rights, and the investor and family members may be required to leave Italy. UK nationals should establish calendar reminders and work with legal advisors to monitor renewal deadlines and ensure that all investment vehicles remain compliant with evolving regulations.

Spain’s closure of its Golden Visa in April 2025, Portugal’s elimination of the real estate option, and Greece’s increase of minimum investment thresholds have raised concerns among UK applicants about the long-term stability of the Italy Golden Visa.

However, Italy’s Golden Visa is distinguished by several factors that suggest greater stability, as it:

• is established by primary legislation requiring parliamentary action to amend or terminate;
• has operated without major disruption since 2017;
• has not been subject to the same level of political controversy or housing market pressure as Golden Visas in Spain and Portugal.

Nevertheless, regulatory risk cannot be entirely eliminated, and UK applicants should be prepared for potential future changes such as increased investment thresholds, stricter Due Diligence requirements, or modifications to the flat tax regime. 

The 2026 increase of the flat tax from €200,000 to 300,000[5] demonstrates that fiscal policy adjustments can occur with limited notice, although the underlying investor visa framework has remained stable.

Investors become eligible for Italian citizenship[11] after 10 years of legal residence. To qualify, the investor and family members must meet five principal requirements:

• 10 years of continuous legal residence in Italy;
• Italian language proficiency at B1 level;
• passing a civic integration examination;
• no serious criminal record;
• proof of sufficient income or financial resources.

The legal residence must be documented through valid residence permits, and the applicant must not have been absent from Italy for more than 6 consecutive months or for periods totalling more than 10 months within the 10-year period, unless such absences were for documented work, study, or health reasons. 

Language proficiency is proven by passing an Italian language examination administered by approved testing centres, demonstrating the ability to understand and communicate in Italian in everyday situations, read simple texts, and write basic correspondence. 

Applicants must pass a test to demonstrate knowledge of Italian history, culture, constitutional principles, and civic institutions by passing a civic integration test or by completing an approved integration course.

The criminal record must be clean. Applicants must not have been convicted of serious criminal offences under Italian or foreign law, and they must demonstrate good moral character and respect for Italian legal and social norms. 

Applicants must show financial means to support themselves and their family members without relying on public assistance.

The citizenship application process can take an additional 2 to 4 years from the date of submission, and approval is discretionary. Successful applicants are granted Italian citizenship and may apply for an Italian passport. Italy permits dual citizenship, so UK nationals do not need to renounce their British nationality upon acquiring an Italian one.

Italian citizenship confers the right to live, work, and study anywhere in the European Union and the ability to pass citizenship to future generations.

1. The Italy Golden Visa, launched in 2017, is a gateway to the Mediterranean lifestyle for UK citizens. It lets the investors enjoy constantly open borders to Italy.
2. The investment options for obtaining Italian residency start at €250,000.
3. Investors can contribute to innovative startups, buy shares of a company that is incorporated or operates in Italy, donate to a philanthropic organisation, or purchase government bonds.
4. Golden Visa holders can benefit from a special tax regime that allows a UK citizen to pay a €200,000 fee annually instead of paying a progressive tax on their global income. The investor’s family members can also choose this tax regime for €25,000 per capita.
5. The process of obtaining the Italy Golden Visa usually takes at least 4 months.
6. Investors become eligible for Italian citizenship after 10 years of legal residence in the country.

1. Source: Ministry of Enterprise and Made in Italy — Interministerial Decree 21 July 2017
2. Source: As cited by CEOWORLD Magazine
3. Source: Ministry of Enterprise and Made in Italy — Investor Visa in Italy
4. Source: Ministry of Enterprise and Made in Italy — Special tax regime in Italy
5. Source: Excerpt from the 2026 budget law stating an increase in the fixed tax under the special tax regime
6. Source: Investor Visa in Italy Policy Guidance
7. Source: Normattiva — Full text of the Decree
8. Source: Worldwide Tax Summaries — Personal income tax in Italy
9. Source: UK government portal — Tax treaties between the UK and Italy
10. Source: UK government portal — Documents related to changes to the taxation of non-UK domiciled individuals
11. Source: Agenzia delle Entrate — Decree-Law of 9 August 2024 No. 113
12. Source: Ministry of the Interior — Rules on obtaining Italian citizenship