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Italy Golden Visa Applications Double in Two Years · IMI Podcasts

• 0:00
  SPEAKER_00: Italy's investor visa program received 209 applications through December 1st, 2025, marking the most complete application data authorities have released since launch.
• 0:11
  SPEAKER_00: The figure represents a compound annual growth rate of 62.6% from just seven applications in 2018.
• 0:18
  SPEAKER_00: Applications contracted just once across the seven-year period, declining 14.3% between 2018 and 2019.
• 0:26
  SPEAKER_00: Every subsequent year delivered expansion with post-2022 growth averaging 33% annually.
• 0:33
  SPEAKER_00: Dario Montagnese, founder and CEO of Ariete Capital, anticipates demand could reach 1,000 requests next year.
• 0:41
  SPEAKER_00: He attributes the growth to processing times in Portugal and Greece, and also the uncertainty caused by all this political drama in Portugal.
• 0:50
  SPEAKER_00: Mean application volume increased nearly 15-fold between periods.
• 0:54
  SPEAKER_00: Early years from 2018 through 2020 averaged eight applications annually, while 2021 through 2025 produced 118 per year.
• 1:05
  SPEAKER_00: Montagnes notes that demand has grown constantly from the beginning of the year, you know, with many requests flowing through online channels.
• 1:13
  SPEAKER_00: His firm sees requests coming primarily from the US, Canada, UK, and Turkey with the 500,000 euro share investment, and 250,000 euro startup options attracting the most interest.
• 1:26
  SPEAKER_00: The program offers four investment pathways: 2 million euros in government bonds, 500,000 euros in Italian shares, 250,000 euros in innovative startups, 1 million euros in philanthropic contributions.
• 1:39
  SPEAKER_00: Authorities typically complete processing within one to two months, requiring no physical presence during the initial visa period.
• 1:47
  SPEAKER_00: Growth moderated in 2024, climbing just 6.7% to 128 applications.
• 1:53
  SPEAKER_00: The slowdown proved temporary, however, as 2025 rebounded with 63.3% expansion, exceeding 2023's 29% growth rate.
• 2:04
  SPEAKER_00: Montagnes reports the committee continues delivering decisions within 30 days of application submission, noting, quote, We didn't see any delays, even if the volumes are growing, end quote.
• 2:16
  SPEAKER_00: He says processing remains smooth as of today, though he acknowledges uncertainty about whether future volume increases could strain timelines.
• 2:24
  SPEAKER_00: He observes that industry demand is driven by agents and providers of investment solutions.
• 2:30
  SPEAKER_00: Before recent market activity, the Italian program wasn't really pushed by anyone and attracted no real interest from agents or structured product offerings.
• 2:40
  SPEAKER_00: He notes that since Area to Capital and other operators are actively pushing offerings, the demand is growing.
• 2:47
  SPEAKER_00: Montagnesi acknowledges that current volumes of 200 is not a lot, yet projects that the program is going to be the main residency program in Europe for next year.
• 2:58
  SPEAKER_00: This episode first appeared as an article by Amada Bas on imidaily.com.
• 3:04
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• 3:11
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