98
UGLOBAL IMMIGRATION MAGAZINE
Mandatory requirements when submitting an application
include a declaration of commitment on the use of the
funds signed by the applicants and their curriculum vitae,
containing details of their academic and professional
background. The legality and clear origin of the investment
funds are one of the main concerns of the Italian government
and, for this reason, controls over this specific aspect are
of particular focus. The authorities in charge of processing
the applications reserve the right to request that applicants
transfer their financial resources to a bank with a registered
office in Italy.
This option is often used when the applicants’ finances
are in a country considered by anti-money laundering
regulations to be a "high-risk" non-EU country, or one that
is otherwise blacklisted.
THE ITALIAN AUTHORITIES
IN CHARGE OF THE PROCESS
The Italian government has created a specific group
c a l l e d t h e I nve s to r V i s a fo r I t a l y C o m m i t te e fo r
evaluating and making decisions regarding investor
visa applications. Members of the commit tee are
representatives of the following Italian public institutions:
the Ministry of Economic Development, the Ministry of the
Interior, the Ministry of Foreign Affairs and International
Cooperation, the Italian Special Currency Police Unit
(Guardia di Finanza), the Italian Tax Agency (Agenzia delle
Entrate), the Italian Trade Agency (Agenzia ICE), and the
Financial Intelligence Unit for Italy.
Should the application be related to a philanthropic donation,
in addition to the ones listed above, a representative from
the Ministry of Cultural Heritage and Activities and Tourism
and the Ministry of Education, Universities, and Research is
included in the panel. Participation in the Investor Visa for
Italy Committee from all these institutions shows that the