Current as at September 2026. Thresholds, fees, and tax rates are subject to change.

• The Italy Golden Visa startup investment is the lowest of the four Investor Visa for Italy thresholds: €250,000 of equity in an innovative Italian startup, halved from €500,000 in May 2020.
• An innovative startup is a defined legal status rather than a description. The company must be registered in the special section of Italy’s Business Register and meet statutory tests on age, turnover, profit distribution and innovation.
• The investment is completed only after approval and arrival in Italy, within three months of entry, and must be maintained for as long as the residence permit is held.
• The permit lasts two years and renews for three, with the Investor Visa Committee checking at each renewal that the investment is still in place.
• Startup equity carries real commercial risk. The lower threshold does not make the route safer, and the holding obligation makes liquidity the first question to ask.

The Italy Golden Visa startup investment is the entry point to the Investor Visa for Italy, and for that reason it attracts more first enquiries than any other route. It is also the route where the gap between the headline figure and the practical decision is widest. The €250,000 is equity in a young company that must hold a specific legal status for the investment to count. The money must stay in place for as long as you hold the residence permit. This page sets out what the law requires of the company, how the sequence and deadlines work, and the questions a careful investor asks before choosing this route over the €500,000 company route.

Italy created the innovative startup category in 2012 under Decree-Law 179/2012. A company qualifies by meeting a set of objective conditions and registering in the dedicated special section of the Business Register held by the Chamber of Commerce. Registration is the test the Investor Visa Committee applies: if the company is not in the special section when the investment is made, the investment does not qualify.

The objective conditions include that the company is a limited company with its main operations in Italy, was incorporated recently, has annual turnover below €5 million, has not distributed profits, is not listed, and has as its business purpose the development, production and sale of innovative products or services with high technological value. In addition it must meet at least one of three innovation tests: research and development spending of at least 15% of the greater of its costs or turnover; a workforce made up at least one-third of PhD holders or researchers, or at least two-thirds of master’s graduates; or ownership or licence of a patent or registered software connected to its business.

The framework was reformed by Law 193/2024, the 2023 annual competition law. Innovative startup status now lasts three years from registration in the first instance, extendable to five for companies that meet growth conditions such as higher research spending, public contracts or a registered patent, and businesses whose main activity is agency or consultancy no longer qualify. For an investor that raises a question the pre-2024 rules did not: what happens to the residence permit if the company loses its innovative status during a five-year holding period. The programme rules require the investment to be maintained. Italian counsel should confirm how a change in the company’s status is treated before the route is chosen.

The route follows the same sequence as the other three. The file is submitted online to the Investor Visa Committee with evidence of the funds, their lawful origin, and a declaration identifying the target company. The Committee publishes a 30-day assessment target for a complete file and, if satisfied, issues a Nulla Osta. The applicant then has six months to request the investor visa at an Italian consulate and two years from the visa’s issue to enter Italy.

On arrival, the residence permit application is filed within eight days and the €250,000 must be invested within three months. The investment is a subscription for or purchase of shares in the company. The Committee is sent proof that it has been completed before the two-year permit is issued. The permit renews for three years at a time. Each renewal requires a new Nulla Osta from the Committee confirming the investment is still held. Selling the stake while the permit is in force leads to revocation. The application process guide sets out each stage and its documents.

An investor can choose a startup directly, negotiate terms with the founders and hold the shares personally. That gives full control over the company chosen and full exposure to its fortunes. It requires the investor to carry out their own due diligence on the company’s registration, accounts, cap table and shareholders’ agreement.

The alternative is to invest through a regulated vehicle that has already selected and structured a qualifying startup holding for investor visa applicants. Those vehicles charge a setup fee of roughly two per cent of the investment, for example €5,000 plus VAT on the €250,000 route, and ongoing management charges for as long as the holding is maintained. The setup fee is a charge on the investment structure and sits alongside immigration counsel rather than replacing it. What the investor gains is a company whose innovative status, documentation and reporting have been built around the programme’s requirements; what they give up is the choice of company. Neither approach is right for everyone, and the investment amount page compares the routes.

Three questions decide whether the startup route is suitable.

The first is liquidity. Startup equity is illiquid by nature, and the programme adds a holding obligation on top. An investor should assume the €250,000 is committed for at least five years and possibly longer, and should not choose this route if that capital may be needed sooner.

The second is risk. A young company can fail, and the lower threshold does not change that. The programme does not guarantee the investment, and nobody can promise a return. An investor who wants a more conservative qualifying asset should look at the €500,000 route, where established businesses, regulated fund structures and, since 2024. Italian venture capital funds are available, or at government bonds at €2 million.

The third is documentation. The Committee needs to see the company’s registration in the special section, its constitutional documents and the terms of the investment. The investor needs to see the same things plus the accounts, the business plan and the shareholders’ agreement, and to understand what rights a minority stake carries. A qualified immigration lawyer handles the immigration file; a corporate lawyer or the vehicle’s own documentation handles the investment side.

What is the minimum investment for the Italy Golden Visa startup route?

€250,000 in the equity of an innovative Italian startup registered in the special section of the Business Register. The threshold was halved from €500,000 in May 2020 and has not changed since.

How do I know a company qualifies as an innovative startup?

Check that it is registered in the special section of the Business Register, which is publicly searchable. Registration requires the company to meet statutory conditions on age, turnover, profit distribution and innovation under Decree-Law 179/2012 as amended by Law 193/2024.

When do I have to make the investment?

Within three months of entering Italy on the investor visa, after the Committee has approved your file and issued the Nulla Osta. No capital is invested before approval.

How long must I keep the investment?

For as long as you hold the investor residence permit. The Committee checks at each renewal that the shares are still held, and selling them while the permit is in force leads to revocation.

Is the startup route safer because the amount is lower?

No. The threshold is lower, but the asset is equity in a young company and carries the risks that come with it. The €500,000 company route and the €2 million bond route are the more conservative options.

The startup route rewards investors who treat the company as an investment first and a visa vehicle second. Regulated vehicles exist that have built qualifying startup holdings around the programme’s requirements, and for some investors that is the more sensible way in; for others a direct stake in a business they understand is the better fit. Either way, the sequence gives time to decide, because the file is approved before any money moves. If you would like to talk through which approach fits your circumstances, the contact page is the place to start.

References to investment routes are descriptive. They are not an offer or invitation to acquire any interest in a fund, company, or security. They are not a recommendation of any particular structure. Investment involves risk, including the risk of losing some or all of the capital invested. A qualifying investment must be maintained for the life of the residence permit, and its value is not guaranteed.

The information on this page is general and educational. It is not legal, tax, immigration, or investment advice, and it does not take account of your circumstances. Italian immigration and tax rules change, and figures stated here reflect our understanding as at the date shown. Before acting, take advice from a qualified Italian immigration lawyer and a tax adviser in both Italy and your current country of residence.