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Italy suspends Golden Visa program for Russians, Belarusians

The Investor Visa for Italy program was launched in December 2017 to attract strategic investments from abroad

ROME, August 8. /TASS/. Italy has suspended the so-called Golden Visa program of issuing residence visas to Russian and Belarusian nationals in exchange for making large investments in the country.

Italy’s Ministry of Enterprises and Made in Italy brand posted a relevant notification on Tuesday.

The Investor Visa for Italy program was launched in December 2017 to attract strategic investments from abroad. The program gives non-EU nationals the chance to obtain a two-year residence visa in exchange for making large investments in Italy’s strategic assets, including investments in government securities to the tune of at least two million euro or in an Italian joint-stock company in the sum of at least 500,000 euro. Apart from that, the visa could be obtained by making a donation worth more than one million euro to a number of Italian organizations.

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