Written by Sue Guillory
With an Italian representative office visa, you can consider expanding your business in Europe.
For years we have been hearing about the magical “golden visa” that many European countries are offering as a way to attract foreign investors and their capital, but the flood of applications and the low Inflation caused by the robbery of houses has no choice but to bring an end to the peaceful days.
With a country like Ireland, Portugal, UK end golden visa program and i like other people too Greece doubles admission feesAmericans desperate to obtain residency in Europe may have no choice but to give up.
But wait…there's another possibility.
Entering Italy Representative Office Visa
Although it is not a golden visa, the Italian Representative Office Visa is suitable for individuals who wish to engage in commercial activities, networking and market research without investing large amounts of money or maintaining a physical presence in the country. We offer that opportunity, says Nicolò Borra.founder of Accounting mullet.
Bora said the visa “offers a flexible path to Italian residency for those who wish to strengthen their business ties in Italy.”
Unlike the investment visa, this visa allows foreign companies to establish a non-profit office in Italy and is used for representative purposes only. What does that mean? He said representative offices do not promote their own business activities but promote and represent the interests of the parent company and cannot directly undertake revenue-generating activities.
Eligibility requirements are relaxed
Unlike the Golden Visa, which requires verifiable assets of more than €250,000 in some cases, the Italian Representative Office Visa requires an annual turnover of just €12,000.
A company opening a representative office must also be a limited liability company (LLC) established in a jurisdiction that is part of the World Trade Organization (WTO). There is no need to buy real estate, create jobs or stay in Italy for a specified period of time.
Bora said that this lower barrier to entry has led to the Italian representative office visa attracting media attention, especially considering the reduced number of golden visas and the further distance between them.
Who should consider an Italian representative office visa?
According to Bora, ideal candidates for an Italian representative office visa are usually entrepreneurs, business owners, or professionals who hold directorships in domestic limited companies.
If you are unable to stay in Italy for a certain number of days per year, this visa will not prevent you. This visa allows you to consider expanding your business in Europe and allows you to travel back and forth without restrictions.
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Italian representative office visa benefits
Although there are few drawbacks, this visa option has some benefits, including free access to Italy's healthcare system, a benefit that most Americans who have experienced high medical costs in the United States will appreciate. .
To renew your visa each year, you will need to provide an annual income of just 7,500 euros. After five years, they will be able to apply for permanent residence in the European Union. After 5 more attempts, you will be able to claim Italian citizenship.
If you're bringing your family to Italy, this visa makes it easy to cover everyone.
And since your representative office is not making any profits, it is tax-free (and believe me, taxes in Italy are high!). As an expat, you will be subject to US taxes, so consult your accountant to find out what those will be.
You can also convert this visa to other types of visas if required.
Other visa options for European countries
When considering moving to another country, it's wise to consider all your visa options. Other options in European countries include:
Selected residence
Most commonly used for retirees, this visa requires you to have a proven source of passive income that meets certain criteria. This income can come from financial income, dividends, capital gains, pensions, bonds, rent, etc. In Greece, this is called “ Financially Independent Person (FIP) Visaand must be able to prove an income of at least 2,000 euros per month.
study abroad visa
You must be enrolled in an approved language course or at a local university or higher education institution. in franceThis visa is valid for 4 months to 1 year, after which you can change to other types of visas.
work visa
This requires you to be employed by a company in the country you plan to move to that will sponsor you as a foreigner. Hungary has work visas for seasonal employment, pursuit of profitable activities, regular employment, and specialized workers.
freelance visa
Designated for freelancers who want to continue the work they do in the United States in Europe. It has one of the highest refusal rates in Italy.
investment visa
A minimum investment in business or real estate in the destination country is required. In Germany, this is called an entrepreneur visa and there is no minimum investment amount. However, starting a business in Germany requires a comprehensive business plan, and the business must meet the economic interests of Germany and employ at least five of his people in Germany.
startup visa
To obtain this visa, you must pitch your startup idea to a committee, which does not require a minimum income or profit. in the netherlandsThis visa provides you with the one-year temporary stay you need to launch your innovative business.
family reunion visa
If you have family members currently residing in Europe, you may be able to receive this visa. In Portugal, it takes approximately 60 days to process your application.
EU blue card visa
This is available to highly skilled workers and requires you to have a sponsor willing to hire you under employment conditions that provide a minimum wage.
Whether you're aiming for the Italian Representative Office visa or another of the visas I mentioned, establishing a foothold in Europe offers great potential to expand your business into new countries and markets.
About the author
Sue Guillory Spiritual coach and business content creator. She helps women discover what it means to truly live after experiencing trauma such as divorce, an empty nest, and the loss of a loved one. Su has been published in AllBusiness, Forbes, SoFi, Lantern, Nav, and more, and writes about entrepreneurship, finance, and marketing.
Related: 7 practical tips for entrepreneurs considering moving their business overseas
