Imagine retiring on the Amalfi Coast, a glass of Chianti in one hand, and a plate of spaghetti alle vongole in the other. Or maybe your golden years are best spent indulging in gelato by the Duomo before shopping and museum-hopping through Florence. If your dream post-career move is living la dolce vita, then consider Italy’s Elective Residence Visa—one of the best pathways for Americans looking to retire in Europe.
The long-term visa is a popular pick among travelers looking to permanently relocate to Italy. The program requires a minimum annual income stream of about 31,000 euros (or around $35,250), according to the Italian Consulate in New York (check your local consulate for the exact amount—the Johannesburg location, for example, says the bar is “in excess of €30,000”). But there’s a catch: It must come from “private income,” such as a pension, annuity, or property rental earnings—not from a traditional nine-to-five salary or corporate job. Visa recipients are allowed to bring dependents, such as a spouse or children, so long as they can also meet the approximate €31,000-per-person requirement, according to the New York-based consulate.
To apply, you’ll need to head to your local Italian consulate, which has locations in major US cities such as Boston, Chicago, and San Francisco. Budget for the €116 (about $133) application fee, and be sure to bring documents such as a completed application and proof of income, health insurance, a place to reside (like a lease or deed of ownership), and one-way travel to Italy (such as a plane ticket). According to the Italian Consulate in Chicago, rental leases must also include verification that the landlord is registered with the Italian Tax Authority.
If approved for the visa, you’ll have eight days once in Italy to request a Residence Permit from the local police department, which is required for travelers who plan to stay in the country for more than 90 days. After the first year, you can renew the permit annually provided you continue to meet all the requirements. Following five years of residency in Italy, visa holders can then apply for a permanent residence card.
If you want to relocate to Italy but are still reliant on a traditional salary, consider the digital nomad visa instead. The one-year visa welcomes travelers who meet requirements such as having worked remotely for at least 6 months and having an annual income of at least €28,000 (about $32,208). Like the Elective Residence Visa, you’ll have to apply at your local Italian consulate, and then request a residence permit within eight days of landing in Italy.
Italy is one of several countries that offer an immigration pathway aimed at retirees, along with neighboring Spain and Portugal. Spain’s Non-Lucrative Visa targets retirees with an annual passive income of €28,800 (about $32,860). Portugal’s D7 Visa has a lower barrier to entry—a monthly passive income of €920 (about $1,055)—but requires €11,040 (about $12,659) in savings at a local bank.