Sicily Prime: a new path to Italian residency by investment of €500,000

A new route to obtaining Italian residency has opened for qualified investors – the Sicily Prime program. It is a €500,000 investment in an operating business in the hospitality and real estate sector on the Noto-Syracuse coast of Sicily.

Unlike fund structures, investors receive a direct equity stake in a company that combines land partnerships, villa construction, and five-star hospitality operations – an active portfolio worth €20 million across eight projects. Your capital remains in your accounts until preliminary approval is received from the Italian authorities.

What Does Sicily Prime Offer?

Path to Residency:

• Two-year Italian residency permit with the right of renewal;
• Permanent residency after five years;
• Citizenship after ten years.

Key Advantages:

• No minimum physical presence requirement in Italy;
• Family included in a single application;
• Free movement within the Schengen Area;
• Investment is made only after government approval.

How Does It Work?

The program is based on the Investor Visa for Italy, in force since 2017. The process consists of several stages:

1. Obtaining the Nulla Osta – preliminary approval from the Committee for Investment Visas (IV4I) under the Ministry of Enterprises and Made in Italy.
2. Filing a visa application at the Italian consulate.
3. Entering Italy and completing the investment within three months of arrival.

Important: Capital is not transferred until approval. First you receive the Nulla Osta, then the visa, and only after that do you make the investment.

Why Is This Beneficial?

Direct Ownership of Assets.

Unlike fund programs, where you own shares, here you receive a stake in a real business – land, villas, and a hospitality operator.

Project Portfolio.

The program covers eight projects with a total volume of €20 million – this is not a single deal, but a diversified portfolio.

No Residency Requirement.

You are not obligated to live in Italy permanently to maintain your status. However, obtaining permanent residency and citizenship will require actual residency.

Family Together.

A spouse, minor children, and dependent parents can be included in a single application.

Comparison with Other Italian Routes

Who Is This For?

Sicily Prime is suitable for investors who:

• Want to obtain EU residency through direct business investment;
• Are looking for a diversified portfolio in hospitality and real estate;
• Value the absence of a residency requirement;
• Plan to include family in a single application.

Important Note

The program is unavailable to citizens of Russia and Belarus. According to the order of the Committee Chairman dated July 14, 2023, applications from these categories have been suspended, but it is possible to obtain residency by acquiring a second citizenship and meeting a number of conditions.

Want to Learn More?

If you are interested in obtaining Italian residency through Sicily Prime or other investment routes, contact us for a consultation.

This article is for informational purposes only and does not constitute legal advice. Italian investment legislation may change. For up-to-date information and individual consultation, please contact IST Hungary specialists.