# Italy Permanent Residency



## Nick J (Apr 5, 2021)

Good Afternoon folks, very new to the forum so apolgies if going over basic stuff but I do have a question that is fundamental to our future plans please.
It will be a few years away yet but my wife and I are potentially looking at retiring to Italy. We are aware of the Elective Residency Visa for the first 5 years. We are also aware that we should be able to sustain an income of 38000 Euros per year. Can this be in savings or must it be in the form of a regular income such as a pension paid over the year (3167 euros a month for example), or a combination of the 2?
Also at the 5 year point when applying for Permanent Residency what are the financial requirements then, as well as the 10 year renewal point? I have not been able to find any specific numbers on this.
Many thanks for taking the time to read this-any pointers will be very greatfully received, as well as anything else you may think we need to know!
Kind Regards
Nick


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## NickZ (Jun 26, 2009)

Some of this is at the discretion of the consulate.

I think if you search the forum you'll find that people with pension income have an easier time. It's just less risky. Trying to do it with savings is likely going to require a higher amount. But it's all up to the consulate officer .

The other stuff I think the only real issue is if they have reason to believe you're a security risk. That means unless you have ended up on the potential terrorist list you'd be okay. I'm not kidding. It's virtually impossible to kick somebody out.


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## Nick J (Apr 5, 2021)

Thanks for the reply Nick-what I was getting at is will the person looking at the permanent residency be concerned at our finances moving forward. The 38000 Euros requirement on the Elective Residence is black and white but the requirement after that inital 5 years seems more vague.
If looking to retire to Spain you spend 5 years on a non-lucrative visa during which time you must show €25,560 annually, plus €6,390 per each additional family member (whether if this is as an income or as savings seems to be up for debate). After the 5 years, when you can apply for residency I am hearing they are not really concerned about your finances in any real detail. 
I was wondering how this compared to Italy?
Many thanks again
Cheers
Nick


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## PauloPievese (Nov 2, 2012)

Nick J said:


> The 38000 Euros requirement on the Elective Residence is black and white


Would be interested in seeing where this is in black and white


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## NickZ (Jun 26, 2009)

Nick J said:


> Thanks for the reply Nick-what I was getting at is will the person looking at the permanent residency be concerned at our finances moving forward. The 38000 Euros requirement on the Elective Residence is black and white but the requirement after that inital 5 years seems more vague.
> If looking to retire to Spain you spend 5 years on a non-lucrative visa during which time you must show €25,560 annually, plus €6,390 per each additional family member (whether if this is as an income or as savings seems to be up for debate). After the 5 years, when you can apply for residency I am hearing they are not really concerned about your finances in any real detail.
> I was wondering how this compared to Italy?
> Many thanks again
> ...


Okay the first number is to get your visa.

The residence number is a fraction of that. It used to be not much more than €6000 for a single. Not a huge jump for a couple. Maybe it's a few thousand more now.

Under EU law the requirement for residency is set to be no more than the cut off for getting state aid. 

Visa gets you into the country. Then you're subject to the residence rules. A place to live (rent or own). The income or savings number. Health care.


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## Nick J (Apr 5, 2021)

Would be interested in seeing where this is in black and white
Hi Paulo-seen this quoted in various places-this is taken from Obtain Elective Residency Visa in Italy.
"An important aspect to be considered when *applying for an Italian elective residency visa* is the amount of money necessary for proving sufficient funds. For a single person, at least 31, 000 euros are necessary. For a married couple, the minimum amount is 38,000 euros".
Have seen nothing from the government but this seems to be pretty universal-would love to be proved wrong though!
Cheers
Nick


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## Nick J (Apr 5, 2021)

"Okay the first number is to get your visa.

The residence number is a fraction of that. It used to be not much more than €6000 for a single. Not a huge jump for a couple. Maybe it's a few thousand more now.

Under EU law the requirement for residency is set to be no more than the cut off for getting state aid.

Visa gets you into the country. Then you're subject to the residence rules. A place to live (rent or own). The income or savings number. Health care"

Thanks again Nick, I was hoping that would be the case-that is really helpful.
Kind regards
Nick


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