Italy Investor Visa Statistics 2026: Applications, Approvals and Routes (2018 to October 2026)

Last updated: 11 November 2026

Italy’s Investor Visa received 279 applications between 1 January and 13 October 2026, more than in any previous full year. Since the programme opened in 2018, investors have filed 899 applications and the ministry has issued 782 nulla osta, equal to 87% of applications.

Source: Ministry of Enterprises and Made in Italy (MIMIT), reply to the Italian Investment Alliance’s freedom of information request ref. no. 177511 of 9 October 2026; data as of 13 October 2026, covering February 2018 to 13 October 2026. 2026 is partial. First reported by IMI Daily, 3 November 2026.

By Dario Montagnese, President of the Italian Investment Alliance and Founder and CEO of Ariete Capital.

How many people apply for the Italy Investor Visa each year?

Year Applications
2018 7
2019 3
2020 8
2021 39
2022 92
2023 117
2024 125
2025 229
2026 (1 Jan to 13 Oct) 279
Total 899
  • 12 months to September 2026: 340 applications, 2.7 times the 125 filed in 2024.
  • January to September 2026: 272 applications, 69% more than the same months of 2025.
  • Monthly average: 30 in January to September 2026, against 19 in 2025 and 10 in 2024.
  • Record month: May 2026, with 41 applications.
  • Annual volumes were in single digits until 2021, the first full year after the May 2020 Relaunch Decree (Decreto Rilancio) halved the minimum investment for two of the four routes.

Applications by month

Month 2018 2019 2020 2021 2022 2023 2024 2025 2026 Total
January – – – 2 9 11 6 12 18 58
February 1 – – 2 6 12 6 28 35 90
March 2 – – 6 5 13 10 14 37 87
April – – – 6 3 5 9 16 25 64
May – 2 1 2 6 10 11 18 41 91
June 1 – 1 1 7 14 5 16 36 81
July – 1 1 3 7 8 12 22 27 81
August 1 – 3 5 8 10 8 14 16 65
September 1 – 1 2 10 10 15 21 37 97
October – – 1 7 12 10 10 25 7 72
November – – – – 5 8 17 21 – 51
December 1 – – 3 14 6 16 22 – 62
Total 7 3 8 39 92 117 125 229 279 899

Dash = no applications that month. 2026 covers 1 January to 13 October.

How many applications are approved?

The programme committee has issued 782 certificates of no impediment (nulla osta) since 2018, equal to 87% of the 899 applications filed. MIMIT does not break down the remaining 117, which include refusals, withdrawals and files still pending.

Which investment route do investors choose?

Route Minimum Applications since 2018 Share in 2026
Italian company €500,000 703 68%
Innovative startup €250,000 161 (79 in 2026 to 13 Oct) 28%
Government bonds €2,000,000 32 n/a
Philanthropic donation €1,000,000 3 n/a

The €250,000 startup route doubled its share, from 14% in 2025 to 28% in 2026. The company route fell from 85% to 68%.

Where do applicants come from?

  • United States: 160 of 279 applications in 2026 (57%), up from 44% in 2025 and 34% in 2024.
  • United Kingdom: 172 applications since 2018; 39 in 2026 to date.
  • Turkey: third in 2026, with 17 applications, up from 1 in 2024.
  • US, UK, Canada and Australia together: 76% of 2026 applications.
  • Applicants from 48 countries and territories since 2018.

Top 10 nationalities:

Nationality 2024 2025 2026 Total 2018-2026
United States 42 101 160 353
United Kingdom 36 49 39 172
Russia – – 1 71
Canada 7 11 7 39
Turkey 1 9 17 30
Australia 5 12 7 30
China 5 5 3 21
Brazil 6 – 3 19
Israel 2 4 2 19
Egypt 2 8 2 12

Full list by year in the nationality file below.

Which Italian provinces do investors choose?

  • Milan: 143 applications in 2026, 51% of the total, up from 36% in 2025.
  • Rome: 3% of applications in 2026, down from 26% in 2021.
  • Tuscany (Florence, Lucca, Siena, Arezzo, Pisa): 175 applications since 2018, 19%. Florence alone: 95.
  • Lombardy and Tuscany together: at least 63% of all applications.

Top 15 provinces chosen as domicile (MIMIT lists only the top 15):

Province 2025 2026 Total 2018-2026 Share
Milan 83 143 372 41.4%
Florence 29 32 95 10.6%
Rome 14 9 71 7.9%
Lucca 11 7 26 2.9%
Verona 4 7 26 2.9%
Siena 9 6 25 2.8%
Como 7 1 22 2.5%
Perugia 7 5 21 2.3%
Bologna 6 6 17 1.9%
Arezzo 7 5 16 1.8%
Sassari 2 4 15 1.7%
Pisa 8 3 13 1.5%
Turin 4 3 11 1.2%
Teramo – 2 8 0.9%
Venice 2 – 8 0.9%
Other provinces 36 46 153 17.0%
Total 229 279 899 100.0%

The province matters: biometric data for the residence permit are taken at the police headquarters (questura) of the chosen province, and a slow questura can delay the process.

How much has been invested?

The IIA estimates that investors have put about €395 million into Italy through the programme since 2018, including about €216 million in listed shares. This is an IIA estimate: MIMIT does not record amounts invested.

IIA position: drop the listed-shares option

Most investors on the €500,000 route buy shares of large Italian listed companies. The IIA estimates that about €216 million of the roughly €395 million invested since 2018 went into listed shares, which is a stock market transaction rather than new capital for Italian businesses. In a proposal to amend the law, the IIA has asked the government to remove the listed-share option and to allow permanent residence without physical presence in Italy. This is the association’s position, not a ministry figure.

What happens after the nulla osta?

A nulla osta lets the applicant request an investor visa at an Italian consulate. The investor then receives a two-year residence permit, renewable for three-year periods while the investment is maintained. The programme sets no minimum time in Italy. Official rules: Investor Visa for Italy, MIMIT.

Download the data

Free to reuse with attribution: “Source: MIMIT data obtained by the Italian Investment Alliance (FOI ref. 177511, 9 Oct 2026), via Ariete Capital”.

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About the author

Dario Montagnese is President of the Italian Investment Alliance (IIA), the association representing operators of Italy’s investor visa sector, and Founder and CEO of Ariete Capital Group, an Italian financial group operating since 2018. He has 15+ years in alternative assets, private equity and venture, and is Visiting Professor of Financial Mathematics at the University of Turin. LinkedIn


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