Approximately 25,800 Americans who receive Social Security benefits in foreign countries outside the US choose Italy to live in. The Italy Golden Visa for Americans is considered a strategic investment to unlock a new lifestyle based on a different culture, nature, and a better balance between work, community, and well-being.
Data provided by the Social Security Administration demonstrates that the number of Americans moving to Italy is increasing steadily, especially among remote workers, retirees, and families looking for a vibrant environment and the desire for a more human pace of life.
What are the reasons driving US citizens to leave their home country and start a new life in Italy? The reasons are many and may include cultural, financial, and personal aspects.
Italy Golden Visa for Americans : Key Insights
According to the Annual Statistical Supplement to the Social Security Bulletin 2025[1], the number of Americans in Italy receiving Social Security benefits reached 25,877. The number of beneficiaries and average monthly benefit under U.S. totalization agreements, by type of benefit, from December 1983 to 2024, reached 9,394.
As of 2025, it is estimated that there are 17,650 Americans officially residing in Italy, according to the Istituto Nazionale di Statistica – Italia (ISTAT), a 6.7% increase from the number reported in 2024, with the largest populations residing in Lazio, Lombardy, and Tuscany.
What Is Italy Golden Visa?
Italy launched its Golden Visa program[2], which is also known as the “Investor Visa for Italy,” in 2017 to boost foreign direct investment. The program enables affluent non-EU citizens to establish their presence in Italy through economic investments or philanthropic donations. The program is designed for business leaders who want to establish operations in Italy, as well as investors looking to diversify their investment portfolio. It is also appropriate for people who want to experience the Italian lifestyle and culture and enjoy a high quality of life.
The program enables applicants to obtain a two-year residence permit in an accelerated timeframe. The permit becomes available for renewal through three-year periods when the first two-year period ends. The Italy Golden Visa processing period takes no longer than 90 days after the application submission date. The Golden Visa enables its holders to reside in Italy while offering business advantages, including the Schengen Zone entry privileges, and leads to permanent residency possibilities.
Process of Obtaining Italy Golden Visa for Americans
American investors seeking Italy Golden Visa can choose from four investment options. This includes investing €250,000 in an innovative start-up, or €500,000 in an Italian limited company, or €2 million in government bonds, or €1 million in philanthropic donations. However, US investors cannot purchase property to qualify for the Italian Golden Visa program.
The application process for Italy Golden Visa for Americans is fast and straightforward compared to other EU Golden Visas, as it can be completed within three months starting from the application date.
Why is Italy Golden Visa Attracting Americans?
Italy’s Golden Visa for Americans serves as an ideal and strategic investment for investors looking to leverage its myriad benefits. Americans are choosing Italy for several reasons:
- Robust ROI Potential
US Investors looking to move to Italy can acquire a Golden Visa by investing €250,000 in an innovative startup operating within the Italian market. The average annual return on investment at an Italian company ranges from 3% to 4%.
The Italian startup ecosystem is thriving in Italy. The tech sector[3] achieved strong results in 2024, with companies raising more than €1.3 billion. The Italian innovation-driven industries demonstrate growth through three key sectors, which include fintech, software, and space sectors that show advancement in financial technology, digital transformation, and space exploration.
From an ROI[4] perspective, Italian startups offer venture-style returns, where value is created through scalability and successful exits rather than fixed income. The sustainable public-private support, along with the growth in venture capital funds, accelerators, and international investment interest, signals improving ecosystem maturity and stronger future ROI potential. Lower entry valuations provide investors with the potential for significant upside, making Italy an appealing option for investors seeking long-term capital growth with a diversified European investment strategy.
- Currency and Geographic Diversification
US investors investing in Italy are adding Euro exposure alongside their US dollar base, which is a different monetary system governed by the European Central Bank (ECB) rather than the Federal Reserve. Therefore, if the dollar weakens against the euro, the euro-denominated assets increase in USD terms. When the USD is strong, US investors can buy more assets in Europe at a relative discount. This creates favorable entry timing opportunities and protects against currency volatility.
Usually, the US economy and the Eurozone economy don’t move in perfect sync. Italy particularly has a different industrial composition. While the US economy focuses on technology, sectors such as tourism, manufacturing, and SMEs thrive in Italy, giving US investors a reduced systemic risk if the US economy witnesses a recession or crisis. Italian assets may not decline in parallel or may react differently, reducing economic cycle dependency. Italy is one of the most visited destinations globally, which supports short-term rental demand and hospitality investments. This provides US investors with high income potential and consistent cash flows.
- Regulatory and Political Diversification
Italy has different tax regimes and regulatory risks. Therefore, holding assets across the US and Italy reduces exposure to a single country’s policy shocks, as well as regulatory tightening in one market. Italy isn’t just an attractive market; it’s a strategic counterweight to overexposure.
- High Quality of Life
Italy’s livable environment, clean cities, pleasant climate, low crime rate, and convenient, anxiety- and stress-free way of life make it an attractive destination for US investors to live and work. Italy outperforms in well-being indicators, work-life balance, and civic engagement. The average household net-adjusted disposable income[5] per capita is $29,431 a year, slightly lower than the OECD average of $30,490. The quality of life in Italy provides individuals with equilibrium and peacefulness throughout their entire experience.
Read also: 9 Reasons Why Americans Are Pursuing Second Citizenship or European Residency
- Affordable Luxury Compared to the US
Cost of living in the US is 11.3% higher than in Italy, excluding rent, according to Numbeo[6]. The cost becomes 28% higher when including rent. Rental prices in the US are 91% higher than in Italy, restaurant prices 11%, and groceries 16% higher. The monthly fee per child for a private full-day preschool or kindergarten in Italy is around $600, while it surges to $1,500 in the US. The average monthly net salary in Italy is around $2,000, while it reaches $4,300 in the US. These reasons combined are encouraging Americans to move to Italy.
- Access to World-Class Healthcare
Italy’s national healthcare system becomes accessible to Golden Visa holders after gaining their residency. In Italy, all citizens have access to the Servizio Sanitario Nazionale (SSN), which automatically covers citizens and legal foreign residents. This allows residents to receive free primary care from hospitals, specialty care, home care, and preventative medicine throughout Italy. The Italian healthcare system[7] is consistently ranked among the best in the world. Italians have the 7th highest life expectancy, proving the impact of this system.
While all residents can have access to healthcare services in Italy, the mixed nature of the healthcare system in America, where publicly financed government Medicare and Medicaid coverages coexist with privately financed market coverage, does not bring detrimental problems to those who can’t afford to pay for premium private insurance. Since the US healthcare system can put a large financial burden on families and individuals, many people are relocating to Italy to participate in the Italian healthcare system and avoid these extreme costs.
- Greater Global Mobility
During these uncertain times, global mobility is gaining momentum more than ever, providing investors and their families with safety, security, and freedom to access global opportunities. Holding an Italian passport, which is ranked 3rd globally, provides visa-free access or visas upon arrival to 189 destinations, including the entire Schengen area, Japan, China, and Singapore. Moreover, Italian passport holders require an Electronic Travel Authority (ETA) to enter the UK.
- Fast Path to Obtain European Residency
The Italy Golden Visa for Americans is considered one of the quickest and simplest programs available to applicants, as it requires approximately 3 to 4 months to be completed. The program enables eligible applicants to obtain EU residency after they gather all necessary documents within a few months.
However, this processing time applies to residency permits and does not extend to citizenship applications. US nationals can become eligible for Italian citizenship after living in Italy for at least 10 years (270 days per year).
- Family Inclusion
Americans looking to invest in the Italian Golden Visa can include their spouse, children, and dependent parents, provided they meet the program requirements. Applicants who obtain European residency through Italy’s Golden Visa program can live, work, and study in any European nation.
- Cultural Motivations
The desire to experience a more human pace of life is another compelling reason why the Italy Golden Visa for Americans has become an increasingly attractive option. Living well isn’t always measured by financial success, but by experiences such as shared meals, coffee breaks, evening strolls, and the chance to live in historic centers rich in art and architecture.
US investors coming from large American cities, which are often fast and impersonal, choose Italy to rediscover the quality of relationships and the significance of community, and to find welcoming and authentic environments in small towns where they can rebuild meaningful connections. Moving to Italy is not just changing the address; it’s stepping into a deep cultural landscape that many Americans feel is part of a personal aspiration they want to fulfill.
Relocating to Italy can enhance Americans’ quality of life, but it requires careful planning, as the immigration process and tax laws may be complex and require a professional agent to guide you through this journey.
Italy Golden Visa for Americans : Top Destinations
Italy golden Visa for Americans
Choosing the most suitable place to live is considered crucial when planning to reside in Italy. The most appropriate city depends on the individual’s needs and lifestyle.
Milan is ranked among the first cities for expats and is suitable for investors due to the strong presence of multinational companies. Entrepreneurs, professionals, and high-net-worth individuals choose Milan for its international environment, business, and investment opportunities. The city is considered the main innovation hub in Italy as it offers the market, capital, and international connections needed for startups and scaleups to grow.
Rome also hosts a large international community and is among the top 3 cities for expats in Italy. Americans choose Rome for its strong expat network, advanced infrastructure, and balanced lifestyle. Although it is the capital, Rome is cheaper to live in than other hubs such as Milan. It hosts the highest concentration of public researchers in the country.
Trento, located in northern Italy, is known as the Silicon Valley of the Alps, due to its impact on science, technology, and politics. The city provides a lot of career opportunities and can be an ideal choice for families as well. Residents enjoy a high quality of life, and still, the rent is half of what is paid in Rome.
Florence is one of the easiest places for Americans to adapt and live in. It’s rich with art and history, but at the same time, practical, walkable, and livable for day-to-day life. The rent in Florence is less than in Milan. Everything is within reach, and there are good schools.
Bologna is ranked among the top cities for quality of life in Italy. It is known for its educational and healthcare services, as well as its developed infrastructure. It is widely chosen by Americans due to its good English proficiency compared to smaller cities. It is lower cost than Milan and Rome.
For more information about the Italian Investor Visa and the requirements, please register your interest.
[1] https://www.ssa.gov/deposit/GIS/data/Reports/ALLCTRYWEB.htm?
[2]https://investorvisa.mise.gov.it/images/documenti/Investor_Visa_for_Italy_Policy_guidance_ENG_19_07_2021.pdf
[3] https://tech.eu/2025/06/19/italys-tech-ecosystem-innovation-growth-and-emerging-opportunities/#:~:text=The%20Italian%20tech%20ecosystem%20in,in%20the%20Q1%202025%20alone.
[4] https://www.aifi.it/visualizzaallegatodocumenti.aspx?chiave=6P375468n5H05yf41mf3T5N3S61N0D
[5] https://www.oecdbetterlifeindex.org/countries/italy/
[6] https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Italy&country2=United+States
[7] https://italicsmag.com/2025/03/28/italy-vs-united-states-healthcare-systems-a-guide/