Italy stops issuing ‘golden visas’ to Russian, Belarusian nationals

The authorities in Italy have stopped the Investor Visa for Italy program for Russian and Belarusian nationals. The program provides residence permits in Italy in exchange for investments in the country, writes Italian publication Alreconomia.

The visa program’s website currently features a short announcement stating that the program has stopped working for citizens of Russia and Belarus, in accordance with E.U. recommendations.

In March 2022, shortly after Russia’s full-scale invasion of Ukraine, the European Commission called on E.U. countries to halt “golden passport” programs, which provide citizenship in exchange for investment, and similar programs that issue residence permits in exchange for investment, for Russian and Belarusian nationals.

Altreconomia cites data from the Italian authorities suggesting that in 2022, Italy gave two-year “golden visas” to at least 32 Russian nationals (at least 36 Russian nationals applied for the documents). In 2022, citizens of the Russian Federation were the most likely to receive Investor Visas, ahead of Americans, who received 12, Britons (also 12), and 23 citizens of other non-E.U. countries.

It’s unclear how many Russian nationals may have gotten visas through the program in 2023.