Italy Suspends ‘Golden Visas’ For Belarusian Investors

The program has been running since 2017.

The Ministry for Business and Made in Italy announced the suspension of the “Investor Visa for Italy” program for Russians and Belarusians, designed for investors to obtain a residence permit in the country. Zerkalo reported with a reference to the program's website.

“We communicate the suspension of the program for Russian and Belarusian citizens as per the provision of the President of the Committee of 14 July 2023 in compliance with the Recommendation of the European Union,” the announcement reads.

Introduced in Italy in 2017, the Golden Visa grants non-EU citizens a two-year residence permit for their investments.

The minimum investment here is 500,000 euros, which must be made through Italian limited liability companies. The holders of such visas can also include their families in the application and take advantage of the special tax regime.

After 10 years, they can apply for citizenship.