A new visa policy
to attract innovative talents from all over the world

Italia Startup Visa
Guidelines

Ministry of Economic Development
Ministry of Foreign Affairs and International Cooperation
Ministry of Interior
20/03/2018

Guidelines to the Italia Startup Visa programme

20/03/2018

Table of contents
What is Italia Startup Visa (ISV)?

3

The policy framework: the Italian Startup Act

6

How does Italia Startup Visa work?

11

Step 1: application submission

13

Step 2: evaluation

23

A variant: applications to join an innovative startup
already in existence

26

Step 3: visa issuing

32

After the visa

34

Flow Chart

38

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What is Italia Startup Visa (ISV)?
A policy instrument to attract entrepreneurial talent from all over the world
A few countries, from Europe in particular, have recently piloted a new type of public policy:
the introduction of simplified, fast-track procedures to issue entry visas in favour toinnovative entrepreneurs from abroad. This new policy is generally called "startup visa".
The basic assumption underpinning it is that the world's most dynamic innovation
ecosystems are characterised by a strong presence of highly skilled entrepreneurs with amigrant background. From this point of view, as recognised by the European Commission –notably, with the so-called “Juncker Plan” in 2014 –, Europe is still unable to fully exploit its
enormous attractiveness potential, lagging behind in terms of competitiveness andinnovativeness.
In particular, the experience of the most prominent global innovation hubs shows that the
inflow of a highly qualified workforce represents an added value to local ecosystems, inparticular thanks to a process of cultural cross-fertilisation resulting from it through theexchange of ideas, practices and contacts. Facing increasingly interconnected markets andfierce international competition, an innovation ecosystem must therefore be "global" in all
respects to be competitive; the same applies to the people that are part of it.
As the granting of entry visas represents an essential step to make the circulation of talentand skills possible, slow and cumbersome administrative procedures constitute a significant
obstacle to the mobility of innovative entrepreneurs. The Italia Startup Visa programme
addresses this issue by introducing a brand new procedure: one that is bilingual, centralised,digital, and fast-track.

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Italia Startup Visa: legal grounds and main features
Italy’s startup visa scheme was inspired by one of the proposals of the “Destinazione Italia”
plan, a national strategy launched by the Italian Government in late 2013 to attract foreign
investment and enhance the competitiveness of Italian companies. One of the measures(no. 44) reads as follows: Entry visas are a strategic tool to attract and retain talent andinnovation. They should be used as an incentive, especially for investors, students, researchersand, more in general, for high-skilled workers. Streamlining the administrative procedures ofvisa issuing, in compliance with Schengen regulations, represents a priority policy area to make
Italy a welcoming country for high-skilled workers". The plan then puts forward a proposal fora specific “startup” entry visa, aimed at non-EU citizens who choose to set up a new
innovative company in Italy.
These directives were transposed into the Italian legal system with the Decree of the
President of the Council of Ministers of 25 November 2013 (the so-called “Decreto Flussi
2013” - “Decree on Migration Flows for 2013”). The decree introduces a new type of visa
that allows the holder to enter Italy as a self-employed worker: "to incorporate an innovative
startup company in Italy”, with a specific reference to the definition of “innovative startup”
given in Law no. 221 of 17 December 2012. This means that the company must be compliant
with the criteria laid down in the aforementioned law, and that the worker must have a selfemployment relationship with the company. This provision has since been renewed, withthe same wording, in all the subsequent annual Decrees on Migration Flows.
The programme, by then known as "Italia Startup Visa", became fully operational after the
publication, in June 2014, of the official website italiastartupvisa.mise.gov.it and of the firstversion of its guidelines. The guidelines to the programme that you are currently reading
are the result of a collaboration between the Italian Ministry of Economic Development, theMinistry of Foreign Affairs and International Cooperation, and the Ministry of Interior.
These guidelines have the purpose to introduce an entirely new, highly innovative
procedure to issue self-employment entry visas, whose most original aspects can besummarised as follows:4

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The procedure can be entirely completed online: the applicant can submit their
documentation only by email, to the following address: italiastartupvisa@mise.gov.it;-

It can take place entirely in English: application forms, information materials and a“customer care" service, as well as the website of the programme itself, are all offeredin this language, so as to facilitate the applicants who are not proficient in Italian;-

It is fully centralised: a single administration (the Ministry of Economic Development,
specifically the Directorate General for Industrial Policy, Competitiveness and SMEs,
where the Secretariat of the programme is based), handles all communications withthe other administrations involved (central police offices, consular representation
abroad), and acts as a single contact point for the applicants;-

It can be completed expeditiously: the Certificate of No Impediment to the grantingof the visa is normally released within 30 days from application submission.

Despite these important characteristics, Italia Startup Visa is still a self-employment visa,
and is therefore subject to the general provisions that regulates them: in particular, article
26 of the consolidated Text on Immigration Laws (“Testo Unico sull’Immigrazione”,
hereinafter “TUI”), art. 39 of DPR 394/99, and the Inter-Ministerial Decree No. 850/2011.

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The policy framework: the Italian Startup Act
The Italian Government has chosen to closely connect Italia Startup Visa (ISV) to anotherpublic policy of high strategic importance: the national strategy for “innovative startup"
companies. Indeed, entrepreneurs from non-EU countries who want to obtain a visa underthe ISV procedure, undertake to set up a new company according to the requirements of
Decree-Law no. 179/2012 (converted by Law no. 221/2012), also known as the “ItalianStartup Act”.
This connection is also reflected in the governance of the programme. Its main operational
responsibilities for it are conferred to the Ministry of Economic Development, and inparticular to its Directorate-General for Industrial Policy, Competitiveness and SMEs, whose
main responsibilities for the implementation and monitoring the national policy forinnovative startups.
Italia Startup Visa is a component of a broader policy framework: to better understand theprogramme it is therefore necessary to give presentation of the legal framework in which it
is set. Firstly, a legal definition of innovative startup is given; secondly, the notion of the“certified startup incubator” is established, since the applicants that are supported by thistype of company can access the ISV by following an even more simplified procedure.
What is the Italian Startup Act?
Issued on 18 October 2012, the Decree-Law no. 179/2012 contains (articles 25 to 32) several
measures to encourage the creation and development of a peculiar kind of new companies,
for the first time recognised as such by the Italian legal system: innovative startups. Afterthe customary parliamentary process, the "Italian Startup Act” was finally approved on 17
December 2012, by Law no. 221/2012.
The Decree-Law 179/2012 creates a comprehensive legislative framework, which
dramatically changes the entire normative context that regulates the activities of new
innovative companies in Italy.
The benefits affect all of the life cycle of the firm:6Guidelines to the Italia Startup Visa programme

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the startup stage, with significant cost reductions thanks to a new online and freeof-charge procedure for incorporation;the growth stage, with easier access to bank loans thanks to a Central Guarantee
Fund for SMEs, and significant tax incentives (30%) for equity investors;the maturity stage, with simplified bankruptcy procedures for unsuccessful
enterprises, and the opportunity to retain much of the benefits – converting to thestatus of innovative SMEs – if the "startup" stage has been successful.

The Italian Startup Act, which can only be recalled here briefly, represents one of the mostadvanced public policies in Europe to bolster innovative entrepreneurship. In March 2016,
the Startup Nation Scoreboard1, which measures the compliance of national policies forinnovation to the recommendations contained in the "Startup Manifesto" endorsed by theEuropean Commission, ranked Italy as second among the EU-28 countries in terms of thecomprehensiveness of its "Startup Act".
What is an innovative startup?
An "innovative startup" is a young company whose business model is characterised by astrong technological character. According to the law (Decree-Law no. 179/2012, art. 25, par.
2), an innovative startup is a limited company, unlisted, which fulfils the following
requirements:a) it is newly incorporated, or it has been operational for less than 5 years;b) it has its headquarters in Italy or in another EU/EEA country, provided it has at least
a production unit or a branch in Italy;c) it has an annual turnover lower than €5 million;d) it does not distribute profits, nor it did so in the past;e) it has as exclusive or prevalent corporate purpose – as stated in the deeds of1

Lisbon Council, 2016

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incorporation – the production, development and marketing of innovative goods
or services of high technological value;f) it is not the result of a merger, split-up or selling-off of a company or branch;g) lastly, its innovative character is identified by at least one of the following criteria:
1. at least 15% of the greater value between annual costs and turnover can be
attributed to R&D activities;
2. at least 1/3 of the total workforce are PhD students, holders of a PhD or
researchers; or, alternatively, 2/3 of the total workforce must hold a Master’s
degree;3. the enterprise is the holder, depositary or licensee of a registered patent(industrial property), or the owner and author of an original registeredsoftware.
It is worth noticing that this definition is sector-neutral: a company that meets therequirements set out above may operate in any economic sector. and still be registered as
an innovative startup.
A full presentation of how to access the status of innovative startup and the advantages
granted to this type of business is available on the website of the Ministry of Economic
Development (www.mise.gov.it, page “startup innovative”). This page contains a summaryof the main aspects of the legislation, regularly updated in English and in Italian, andnumerous other communication materials. It is also possible to download the texts of theentire legislation that underpins the policy and legal opinions on its most complex aspects,
as well as information materials on further Government initiatives to support the nationalinnovation ecosystem.
What is a certified startup incubator?
Decree-Law no. 179/2012 identifies a second category of innovative enterprises subject tospecial provisions: certified startup incubators. In so doing, Italian legislation has recognised
the contribution made by these companies to the development of a strong innovation
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ecosystem.
The law (art. 25, par. 5) defines certified startup incubators as limited companies that
support the creation and the development of innovative startups, by providing physicalincubation services. The certification should be seen as an award of excellence in the field.
For this reason, its attainment depends on several qualifying requirements, defined by the
Decree of the Minister of Economic Development of 22 December 2016. These include theavailability of adequate infrastructure and equipment, experienced technical andmanagerial staff, and the existence of formal collaborations with universities, research
centres, public institutions and financial partners. Most importantly, startup incubators
must have a solid track record in supporting the creation and growth of innovative startups.
Certified incubators are granted some of the benefits enjoyed by innovative startups:
amongst them, a preferential channel to access the Italia Startup Visa programme. Further
information can be found in the executive summary of the policy for innovative startups.
Monitoring
In compliance with Decree-Law no. 179/2012 (art. 25, par. 8), to enjoy the relevant benefits
innovative startups and certified incubators must register in a dedicated section of the
Italian Business Register, which is managed by the Italian Chambers of Commerce. The
registration is free-of-charge. Applicants must electronically send a self-certification
statement attesting the requirements outlined in the previous paragraph to the local
Chamber of Commerce.
The sections of the Business Register dedicated to innovative startups and certified startup
incubators are public, and updated every week. They can be accessed for free on thefollowing web portal: http://startup.registroimprese.it/. The same data is also available on#ItalyFrontiers, a platform where every innovative startup can create its own public profile,
integrating the data of the public Register with more detailed, personalised information(e.g. on its stage of development, the skills of its team, the goods or services provided, thecapital raised and its target markets). To make the company more visible to customers andinvestors, in Italy and abroad, the profile can be built both in Italian and English. These tools
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allow anyone interested in the programme to get in touch with any of these companies.
By emphasising openness and transparency, the new legislative framework intends tofacilitate widespread monitoring both by academics and the general public, as well as aqualified and objective debate on the impact that the legislation on startups has on
economic growth, employment, and innovation. For the same purpose, the Ministry of
Economic Development manages a system of quarterly reports on the evidence producedby the policy, both as a whole and by some of its most significant measures, such as Italia
Startup Visa itself. Furthermore, every year the Minister of Economic Development
presents to the Italian Parliament an Annual Report on the latest developments and theimpact of the legislation in support of innovative startups. The Report, also available in
English, can be found on the website of the Ministry.
As mentioned above, every three months the Ministry of Economic Development publishes
on its website a detailed report on the metrics of the Italia Startup Visa programme: thenumber of applications received and their outcome, their countries of origin, the main
characteristics of the applicants (such as age, education, previous employment) and thereferences of the new startups created thanks to the ISV. The report, like all the forms andother information materials dedicated to ISV, is published both in English and in Italian.

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How does Italia Startup Visa work?
A startup self-employment entry visa can be requested by non-EU nationals who wish toestablish an innovative startup in Italy as defined in art. 25, par. 2, of Decree-Law no.
179/2012. The application can be supported, also financially, by certified startup incubators
as per art. 25, par. 5 of the same Decree.
As already mentioned, the procedure to obtain a startup visa is a simplified, digitised andfast-track variant of the normal procedure followed for self-employment visas. It is possible
to sum up the main steps as follows:-

Step 1: application submission. Non-EU citizens must send the following
documents to: italiastartupvisa@mise.gov.it: an application form, a copy of his or
her passport, and a formal statement whereby they declare a financial availability forno lower than 50,000 euros, which are to be invested in the creation and the day-byday running of the new innovative startup. The application documents can be filled
out in Italian and in English.
The Secretariat of the Italia Startup Visa programme, established at the Ministryof Economic Development, carries out a preliminary check of the documentation
submitted.

-

Step 2: evaluation. As soon as the preliminary check has been successfullycompleted, the documentation is sent to the body responsible for the assessment,theItaliaStartup

Visa

Technical

Committee,

comprisingprominent

representatives of the main organisations of the national innovation ecosystem.
Within 30 days from submission, and after the acquisition of a provisional
Certificate of No Impediment to entry, issued by the Questura (central police office)that has jurisdiction over the area where the applicant wants to set up their newcompany, the Committee must inform the applicant of the outcome of theassessment. If successful, the applicant will receive, by email, the scan of a
Certificate of No Impediment to a startup self-employment visa (“ISV Certificate of
No Impediment” or “Nulla Osta ISV”).
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Step 3: visa issuing. Within three months from the date of issue of the Nulla Osta,
the applicant must go to the relevant Italian consulate abroad. At that stage, after a
supplementary check, they will be able to collect a startup self-employment visa,
with a duration of one year.

Each of these steps is fully described in the relevant section of these guidelines. The firstsection contains a detailed description of the documentation that the applicant must
include in their application. The second section outlines the criteria that the ISV Committee
follows in its assessment. Then, a specific section is devoted to a particular variant,regarding applications by "aggregation" (that is, coming from entrepreneurs who wish tojoin an innovative startup already in existence). This variant has certain characteristicfeatures, with regards both to the application procedure and the evaluation criteria. Lastly,
the third section sets out the procedure and documents required to obtain the visa.
A visual version of the application process is available in the appendix to these guidelines(see “Flow chart”, p. 38).

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Step 1: application submission
Applications for the Italia Startup Visa programme are sent only by email2, by the applicant
or their representative, to the following address: italiastartupvisa@mise.gov.it. If the email
is not sent directly by the applicant, their email address must be kept among the recipientsor copied (Cc:) in every communication.
The mailbox is managed by the Secretariat of the Italia Startup Visa programme (ISV
Secretariat), established at the Unit responsible for the national strategy to support
innovative startups at the Directorate General for Industrial policy, Competitiveness and
SMEs of the Ministry of Economic Development. The Secretariat acts as a link between thecandidate and the Evaluation Committee, the body entrusted with substantive assessmentof the documentation (see Step 2).
The Secretariat is the only contact point for the applicant: it is in charge of maintaining thecorrespondence with them, and performs a formal control on the conformity of the
documentation with the standards set forth in these guidelines.
If the Secretariat deems, on the grounds of its preliminary check, that the documentation
submitted is not sufficiently complete to be considered for evaluation, it sends the applicant
a request for additional documents. Integration requests entail a suspension of theprocedure. This results in the procedure being suspended: the 30-day countdown starts
again once a complete application is submitted. Failure to provide additional documents
within 60 days is considered, for statistical purposes, as an implicit withdrawal of theapplication.
All applications are made up of three mandatory documents:
a. an application form;

2

The documentation may be attached to the email or uploaded on a file-sharing service. To avoid issues withfile size, the latter option is preferred.

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b. a formal statement whereby the applicant declares financial availability of atleast 50,000 euros, supported by documentary elements of such availability;c. a copy of a valid passport.
The applicant can submit the full documentation in two languages, Italian or English. It is
not necessary to submit certified translations, unless requested for the purposes ofinvestigative enquiries.
a. Application form
The form, available both in Italian and English, can be downloaded in a .doc format, both inan Italian and English, from the website italiastartupvisa.mise.gov.it, section "FilingCabinet". The form requires the applicant to provide:

personal details and contact information: date and place of birth, place ofresidence, a personal and operational email address, phone number, and otheruseful contact details;

a brief description of the main academic and professional attainments of theapplicant (curriculum vitae);detailed information about the innovative startup project: idea and businessmodel, type of product or service to be developed, innovative aspects, previous
relations with the Italian innovation ecosystem, target markets, and a forecast of
costs and revenues in the short and medium term (business plan) ;the province and the region where the candidate intends to settle, so as to allow a
preliminary security check, required by law, from the local Questura (see par. c.,"Passport").

The applicant is allowed to submit additional documentation. However, providing further
materials deck does not exempt the applicant from having to fill out the standard
application form.
In particular, applicants are strongly advised to further specify the description of theinnovative startup project by submitting the following kind of documentation:
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a “presentation deck”, the short presentation typically used by startups to describe
the main features of their proposed business model, their innovativeness, and toconvince investors of their growth potentiala “business plan” including detailed estimates of costs and revenues foreseen for theentrepreneurial project, with a focus on research and development activities.

..
The application form should be kept by the candidate in its original, signed hard copy. This
document must be necessarily submitted to the diplomatic and consular mission whenrequesting the visa (cfr. Step 3).
b. Proof of financial resources
At the time of application, the non-EU citizen is required to provide documentation
demonstrating a financial availability, to be invested in the new innovative startup,
amounting to at least 50,000 euros.
These resources, to be attached to the request submitted to the Committee, may originatefrom:

the investor's own funds. Such resources should be liquid (e.g. a bank deposit) or
readily convertible into cash (Box 1);

financing arising from venture capital funds, corporations, and other third-party
investments, including funds issued by Italian or foreign government agencies or
non-governmental actors (Box 2);

a combination of the above.

Box 1. Own funds of the investor
In case the personal resources of the visa applicant make up (fully or in part) the financial
endowment to be allocated to the innovative startup project, the documentation proving

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the availability of a sum higher than the minimum threshold should be composed of:a. A copy of a bank statement of account, indicating the transactions performed in
the three months prior to submitting the candidacy, if the sum is held in theform of a bank deposit.
The bank statement must include:i.

the name of the holder;ii.

the account number;iii.

the date of the statement of account, which must not be over 30 days priorapplication date;iv.

the name of the bank;v.

the amount of funds in the original currency. In case the sum is not in euros,
see letter b.

If the available resources are in the form of financial instruments, including, forexample, shares in joint-stock companies, investments in Government bonds orpension funds, etc, the applicant must attach documentation that describes thefinancial instruments held or acquired in the three months prior application date,also in the form of a portfolio issued by a credit institution, an investment fund, orsimilar.
b. An official letter from the institution where the funds are held, signed by anauthorised representative. The letter must confirm:i.

that the account or investments are in the applicant’s name;ii.

that the institution has performed sufficient checks on the customer inaccordance with international standards;iii.

the precise amount in the applicant’s possession, in both the original
currency and in euros, at the exchange rate applied at the time of signing;iv.

in case of securities or shares, purchase date and, if applicable, their validity
period;v.

that the sum is entirely transferable to Italy according to applicable16

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regulations on capital controls;vi.

availability of the institution’s representative to respond to requests formore information from the Secretariat of the Committee.

Box 2. Third-party investor
In case the financial resources that the applicant intends to use come, fully or in part, froma third-party investor, the application must be backed by a formal contract of investment,
signed by both parties.
The investor must declare:
1. his/her personal data: name, surname, date and place of birth, address of residency,
nationality;
2. if the investor is a legal person, in addition to personal data of the legal
representative (as described in point 1), it must indicate its corporate name, ID (e.g.
Italian Codice Fiscale or equivalent), registered office address. It is also appropriate
to add a short description (max 5 lines) of the domain of activity (e.g.
manufacturing, services, investment…) of the legal person.
3. to be the rightful owner of the financial resources to be employed;
4. the date by which it undertakes to make the investment;
5. personal data of the investment recipient, and confirmation of having acquired
his/her consent;
6. whether the financial resources are made available as gift or as an investment. In
the latter case, the investor must specify the kind of collaboration that will beestablished with the company to be established, adding further documentation if
necessary;
7. his/her contact details: mandatorily, a phone number and a personal email address.
The contract must be supported with adequate documentation issued by banks or17

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other financial institution, according to the method described in Box 1 (bank statement
or equivalent valid for the prior three months; confirmation letter from a representative of
the financial institution).

The financial availability declared by the applicant can be in euros or in other currencies,
provided the corresponding amount in euros of each source of financing is specified,including the official exchange rate used at the time of application (see in particular Box 1,
point 2).
Demonstration of possession of non-liquid assets, such as real estate or stakes in companies
not limited by shares, will not be accepted as proof of financial resources, even if a promiseof sale is attached, since there is no guarantee that the estimated value is equivalent towhat will be effectively obtained.
In the case of an application through a certified incubator, the total amount may include thevalue of the in-kind services provided in the incubation contract.
Finally, the applicant must submit a declaration ("Cover letter stating the minimum financial
resources

dedicatedtoinnovative

startups",

downloadablefromitaliastartupvisa.mise.gov.it, section "Filing Cabinet"). By signing this declaration, theapplicant undertakes to use the funds declared therein for the establishment and theoperation of the new innovative startup. The letter is also downloadable in a .doc format,
both in Italian and English. It allows the applicant to summarise in a table the origin and theamount of the various financial resources that will support the business project.
It is mandatory to fill in the cover letter. As well as the application form, originals of theproof of financial availability and its cover letter must be submitted to the diplomatic
mission at the time of requesting the visa.

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c. Passport
Finally, the applicant must attach a copy of their valid passport to the application (a highresolution image file of the main passport page containing their personal details, thepassport number, and the dates of issue and expiry).
The passport is necessary for identification purposes, in particular to allow the issue of aprovisional entry clearance (the so called “Nulla Osta provvisorio ai fini dell’ingresso”) by
the Questura with jurisdiction over the area where the candidate intends to settle.
This is a general requirement for self-employment visas (DPR no. 394/1999, art. 39, par. 5
and 6): it constitutes a preliminary check on any possible legal impediments for the non-EU
citizen to enter and reside in the country for self-employment reasons.
The provisional entry clearance is requested directly by the ISV Committee, on behalf of theapplicant. The Chairman of the Committee signs a formal request, which is then sent by the
Secretariat of the programme to the competent Immigration Office (part of the local
Questura).
The provisional entry clearance is a pre-requisite for the issue of the final ISV Certificate of
No Impediment.
Applications through certified incubators
In the event that the non-EU citizen is hosted by a certified startup incubator – i.e., theincubator will assist them in setting up a new innovative startup in Italy – the application
procedure presents some significant differences.
When backed by a certified incubator, the applicant must not submit a standard
application form. Instead, they must provide a certificate, signed by the legal
representative of the incubator, which confirms that the latter intends to assist the non-EU
citizen in incorporating and launching a new innovative startup in Italy.
The form ("Undertaking by incubator to host startup") is available for download at
italiastartupvisa.mise.gov.it, "Filing Cabinet" section, both in Italian and English. The
applicant will be asked to submit, as is normally the case, relevant certification on the19

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availability of sufficient financial resources. For statistical profiling purposes, the applicant
is also required to attach a CV.
In this case, the ISV Certificate of No Impediment should primarily be intended as validationof the financial resources involved in the project, and compliance of the business model withthe legal definition of innovative startup. The assessment of the actual soundness of thebusiness model is largely deferred to the incubator.
When collecting the self-employment visa, the original declaration substitutes theapplication form, and must be shown to the consular authorities.
Applications from entrepreneurial teams
The Italia Startup Visa programme also applies to multiple entrepreneurs who wish to set
up, as a team, a single new innovative startup in Italy.
To be eligible for ISV, an entrepreneurial team can include up to five non-EU citizens, of any
nationality. In exceptional circumstances, the ISV Committee may agree to grant more
Certificates of No Impediment, up to a maximum of 10 per project.
All applicants must meet the conditions required for the issue of self-employment visas.
This means that they cannot merely be employees: they must be co-founders of the new
innovative startup, have a self-employment relationship with it, and own part of its capitalshares. There is no statutory minimum limit for the percentage of the share capital held by
each team member.
The minimum financial availability required to be considered for assessment amounts to
50,000 euros for the entire team. However, as the assessment of these financial resources
is closely related to that of the soundness of the business idea, for team application thisthreshold must be considered as purely indicative: the judgement on the adequacy of thefinancial resources is at the discretion of the Committee. Therefore, depending on thecircumstances, the threshold considered adequate by the Committee may be evenconsiderably above the statutory minimum.

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The financial resources can have the same source: the applicants can send a single cover
letter as proof of financial resources for the whole team. Without prejudice to the minimum
income for the previous year required by self-employment visa regulations (see Step 3), thateach candidate must comply with, the resources to be invested in the startup and thus
relevant for ISV purposes may also come from just one of the applicants, or some of them,or even from third-party investors. Combinations of the founders’ own finances and third
party investments are also accepted.
The documents to be submitted for a team application are the same as those required forindividual ones. Conversely, a few specific rules are to be followed in the submission phase.
Namely:

Applications pertaining to a single entrepreneurial team must be sent to theCommittee for assessment all at the same time.
This requirement is needed to ensure an accurate assessment of the overallsustainability of the proposed business plan; in particular, the adequacy of thefinancial resources involved.
Applications relating to an innovative startup project for which other applicants havealready received a Certificate of No Impediment will be considered only if theapplicant can demonstrate a financial availability of at least 50,000 euros. Such
resources must be in addition to those declared by the members of the original
entrepreneurial team.
Furthermore, if the company has already been incorporated, the applicant must
undertake to assume the position of president, managing director, member of theboard of directors or auditor of the company. To this end, both the applicant and theinnovative startup must sign an agreement and submit it to the Committee,
according to the rules outlined in the paragraph “A variant: applications to join an
innovative startup already in existence”.
 Each applicant must submit their own application form. The form includes
individual parts (contact information, CV), that need to be filled out individually by21

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each team member. Conversely, the sections that refer to the startup project shallbe identical for every applicant.

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Step 2: evaluation
The Italia Startup Visa Committee
The "Italia Startup Visa Evaluation Committee" was established on 24 March 2014 by a
Decree of the Director-General for Industrial Policy of the Ministry of Economic
Development.
The Committee is in charge of:-verifying the fulfilment of the legal requirements for the establishment of an
innovative startup, as defined by Italian law;-

objectively assessing the business potential of the projects submitted by theapplicants;-

through its Secretariat, liaising with the Questura with territorial jurisdiction over thearea where applicants intend to start up their innovative business, with a view toobtaining the provisional entry clearance required;

The Committee, chaired by the Director General for Industrial Policy, Competitiveness and
SMEs of the Italian Ministry of Economic Development (or a delegate), consists ofrepresentatives of prominent national associations of the Italian innovation ecosystem.
As determined by decree of the Director General for Industrial Policy, issued on 27 February
2018, the Committee includes the following members:


The Chairman of the Venture Capital committee of AIFI, the Italian association for
private equity and venture capital;

the Chairman of APSTI, the national association of science and technology parks;

the Chairman of IBAN, the Italian Business Angel Network;

the Chairman of Netval, the Italian network for the promotion of university researchand spin-offs;

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the Chairman of PNICube, the association of Italian university incubators and local
startup competitions;the Director General for Industrial Policy, Competitiveness and SMEs of the Ministryof Economic Development.

The ISV Committee shall vote by simple majority rule. If a majority is in favour of thebusiness project submitted, and the security check performed by the competent Questura
has been successful, the Italia Startup Visa Certificate of No Impediment can be issued.
The ISV Certificate of No Impediment
The ISV Certificate of No Impediment (“Nulla Osta ISV”) is granted or denied within 30 days
after the submission of the complete documentation required for the application, as
described in these guidelines. The ISV Certificate, signed by the Chairman of theCommittee, is digitally transmitted to the applicant, only by e-mail.
The Certificate can be used for obtaining a self-employment visa within three months of its
issue date.
A facsimile of an ISV Certificate of No Impediment is available on the website
italiastartupvisa.mise.gov.it, in two versions: one for direct applications and one forapplications backed by a certified startup incubator.
Immediately after transmitting the ISV Certificate of No Impediment to the applicant, theSecretariat notifies the three other Ministries involved in the procedure of its issue, bycertified email (PEC). In particular, the reference offices identified by each Ministry are:-for the Ministry of Foreign Affairs, the Visa Office at the Directorate General for
Italians abroad and migration policies;-

for the Ministry of the Interior, the Central Directorate for immigration and borderpolice at the Department of Public Safety.

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Refusal of application: reasons and safeguards
In the event that a majority of the members of the Committee give a negative opinion on
the entrepreneurial initiative proposed by the applicant, the Chairman of the Committee
shall sign a communication of application refusal, digitally transmitted to the non-EU citizen
via email, according to the same procedure described for the Certificate of No Impediment.
The reasons for which members of the Committee may decide to reject the application canbe reconnected to the following cases:

Lack of innovativeness of the entrepreneurial initiative: the business idea does notmeet the requirements that characterise the innovative startup according to Italianlaw. Specifically, the business model is deemed as lacking a strong character oftechnological innovation, and/or there are no evidence of fulfilling at least one of thethree "innovation indicators" defined by the Legislative Decree. 179/2012, art. 25,
paragraph 2, letter h) (see par. "What is an innovative startup?" of these Guidelines);

Weak business plan: The Committee, on the grounds of its technical assessment,
concludes that there is insufficient evidence to prove that the proposed businessidea can actually give rise to an innovative startup active and trading in Italy. The
Committee may find in the documentation various profiles of weakness, calling into
question the feasibility and/or authenticity of the project. Among these: the absenceof previous linkages with Italy and in particular with the Italian innovation
ecosystem; the lack of relevance of the curriculum of studies or professional
experience of the applicant for the sphere of activity concerned by the business idea;
the inadequacy of the financial resources provided for in the business plan comparedwith the scale of activities. Lack of financial resources or irregularities in the
documentation proving their availability.

Reports from other administrations (e. g. Police Headquarters and consular offices) can beused in the investigation, and support the negative assessment of the Committee.
All negative opinions issued by Committee members are duly justified.

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The reason for refusal of application are summarised in the communication of refusal sent
to the applicant.
According to general regulations on administrative procedure (Law 7 August 1990, no. 241,and subsequent amendments), the applicant has the right to submit his or her claims within
10 days of the notification of refusal, by sending a message to the ordinary e-mail address
italiastartupvisa@mise.gov.it,

or

to

the

certifiedemail

address(PEC)

italiastartupvisa@pec.sviluppoeconomico.gov.it.
The Committee has 30 days to decide whether to grant or to refuse definitively theapplication. In the latter case, the Committee issues a new, final communication of refusal.
If the applicant does not submit own observations within the period referred to above, therejection notice shall become final. Should the applicant wish to restart the evaluation
procedure, he or she will be required to submit a new full application. The new application
will be deemed as worthy of consideration by the Committee only if there are significant
new elements in comparison with the previous one.
Other forms of safeguards (ordinary or extraordinary administrative appeal) are permitted
according to the regulations in force.

A variant: applications to join an innovative startup already inexistence
In accordance with the general rules on self-employment visas, set out in d.lgs no. 286/1998(“TUI”) and its implementing measures, an ISV Certificate of No Impediment may also be
granted to non-EU citizens intending to play an executive role in a registered innovative
startup that has already been in existence for at least three years, investing a sum of no lessthan 100,000 euros in it.

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Eligibility requirements
Applications to join innovative startups already in existence must meet two types ofconditions. First, they are subject to the standard requirements of general self-employment
visas legislation, in particular of Inter-Ministerial no.850/2011 (see list below, points 1-4),
along with further parameters, which are meant to ensure the consistency of applications
with the overall rationale of the Italia Startup Visa programme (points 5 to 7): that is, theattraction of innovative entrepreneurial talent from all over the world.
In order to be considered, all applications to join innovative startups already in existence
must meet the following conditions:
1. the company that the non-EU citizen wishes to join must be a limited company; inparticular, it must be incorporated as an s.r.l. (limited responsibility company) or
s.p.a. (company limited by shares);2. the company must have been operational for three years at least3;
3. the company must be an innovative startup registered in the special section of theBusiness Register, and must meet the requirements laid down by Decree-Law no.
179/2012, art. 25, par. 2;
4. In the target company, the non-EU citizen must assume one of the following
positions:a. chairman;
b. CEO;c. member of the board of directors;
d. auditor.

3

The companies that are not three years old yet, but that will fulfill this requirement at time of collecting thevisa, will be considered eligible for this purpose.

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The entrepreneur and the innovative startup undertake, before submitting theapplication, to carry out all the necessary tasks to meet this condition.
5. The non-EU citizen proves they have financial availability of at least 100,000 euros(or equivalent in other currencies) arising from their own resources, which shall be
invested in the innovative startup. Higher financial commitments are encouraged,
and regarded as a bonus for evaluation.
6. The non-EU citizen undertakes to have a self-employment relationship with theinnovative startup. The entrepreneurial contribution that the applicant intends toprovide to the company must be well detailed in the application. This is achieved bypresenting a specific document (Job Agreement) signed by both the entrepreneur
and the legal representative of the enterprise.
7. The academic and professional curriculum of the candidate must be relevant to thecore business of the innovative startup, and consistent with the tasks described in
the Job Agreement.
The ISV Committee discourages applications from multiple non-EU citizens that are
directed to the same innovative startup. In this case, it reserves the right to assess theirsuitability on a case by case basis. This condition is valid even when applications arepresented at different times.
As for the standard procedure, applications to join startups already in existence may besubmitted by the applicant either directly or with the support of a certified startup
incubator. In the latter case, the certified incubator must issue a document, signed by its
legal representative or a delegate, in which it clearly declares the extent of its involvementin the process.
Documents required
As referred to in the previous paragraph, for applications to join existing innovative
startups, applicants must submit further documentation, in addition to the same application
form and cover letter for the financial resources used for standard applications. In particular,

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the application is deemed complete and suitable for evaluation by the ISV Committee when
the following conditions are met:a. The name and the Tax ID (“Codice Fiscale”) of the target company is correctly stated.
This is necessary in order to check compliance with the requirements listed on p. 2728, points 2 and 3.
A brief presentation ("presentation deck") of the company should also be attached.
This check includes not only the registration of target enterprise in the special
section of the Business Register dedicated to innovative startups, but also the actual
compliance with the innovative startup requirements, as resulting from the Chamberof Commerce company registration details (the so-called “visura camerale”).
b. The commitment to play an entrepreneurial role in the innovative startup must be
declared by the non-EU citizen who must attach a signed statement, in the form of aletter (the Job Agreement). The letter must be signed by the innovative startup. No
standard template is available, so as to allow the non-EU citizen to freely describe
their own business commitment towards the innovative startup.
c. A copy of the minutes (“verbale”) of a meeting of the shareholders’ meeting of thecompany (“assemblea dei soci”), deposited with the local Chamber of Commerce inaccordance with current legislation, in which the company undertakes:i.

to increase capital for an amount corresponding to the sum that will be
invested by the non EU citizen applying for a startup visa;ii.

to appoint the applicant, as soon as arrived in Italy, as either president, orCEO, or board member, or auditor of the company.

d. The applicant and the company must finally sign a Memorandum of Understanding(MoU), which defines:
a. the “pre-money” evaluation of the company given by the investor;b. the total amount to be invested by the applicant in the innovative startup;c. the share of capital acquired by the investor in the company
d. the methods and the timeframe for the appointment referred to in point 4 ofthe list on pages 27-28.

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Evaluation criteria
The evaluation is carried out as follows:a. Formal assessment: the Secretariat of the Italia Startup Visa programme checks
that the documentation submitted is complete, and that the target company is a
registered innovative startup, incorporated as an s.r.l. or an s.p.a., and has been
operational for at least three years. If this check, which does not take longer than
five business days after submission, is successful, the Ministry triggers the security
check from the relevant Questura, in the same ways as for standard applications. At
the same time, the full documentation is submitted to the ISV Committee for anassessment.
b. Substantive assessment: the Committee assesses the credibility of the non-EU
citizen’s financial and entrepreneurial commitment of, and the consistency of theirbackground with the field of operation of the innovative startup involved. With the
exception of those circumstances in which the assessment demands a longer
investigation phase, due to the complexity of the documentation submitted, anddepending on the availability of the members of the Committee, the outcome of theevaluation is notified within 30 days from submission of a complete set of
documents. If successful, the non-EU citizen receives an ISV Certificate of No
Impediment, which is to be shown to the consular offices at time of collecting thevisa, together with the documentation described in the previous points.
In each of the two assessment phases, the Secretariat of the programme and the Evaluation
Committee may request clarification or additional documentation. In this case, the 30-day
countdown starts from the day the additional information requested is transmitted.
Other duties following visa issuing
Recipients of a self-employment visa to join an innovative start-up already in existencecommit themselves to communicate as soon as possible, and in any case no later than 90days from the date of application for the residence permit, the following information:

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the execution of the investment declared at the visa application stage, also byattaching financial supporting documents;the assignment of one of the corporate positions provided for by the visa regulations
for self-employment and mentioned above, including documentation already filedwith the Chamber of Commerce;

the status of the procedure to obtain a residence permit for self-employment:materials proving that the application has actually been made, or, if the permit has
already been issued, a copy thereof;

updated contact details (email address, telephone number) and address.

The non-EU citizens also commit themselves to updating on a regular basis the Secretariatof the Committee on the development of their entrepreneurial venture, as well as tocommunicate any changes in their contacts.

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Step 3: visa issuing
To collect their startup self-employment visa, applicants must personally go to the
diplomatic and consular offices with jurisdiction over their place of residence. They must do
so within three months from the date on which the ISV Certificate of No Impediment has
been issued.
This three-month limit can be waived upon written request to the ISV Secretariat and the
Visa Office of the Ministry of Foreign Affairs, only in case serious and justified reasons have
prevented the applicant from showing up on time at the consular appointment.
As a general rule, the candidate may collect the visa in a consular office located in the
country of which they are a resident (not necessarily a national). In case the applicant hasleft his or her country of residence for a temporary stay, and cannot return within the threemonths’ deadline, it is possible to ask the Ministry of Foreign Affairs for an exception, whichis granted only in cases of force majeure or other objective causes,.
According to art. 2 of the Decree of the Minister of Foreign Affairs and International
Cooperation, in agreement with the Minister of Interior, signed on 30 June 2017, whichmakes effective the dispositions found in Law 232/2016, art. 1, paragraphs 155 and 156, ISV
beneficiaries are received the diplomatic and consular office responsible for the issuing of
the visa with no need of booking an appointment, or, upon request of the applicants, within
three working days. Startup visa application shall in any case be given priority, and shall be
dealt with as a matter of urgency, even when received through external service providers.
The consular office reserves the right to contact the ISV Committee if, during theappointment, significant new elements or inconsistencies arise with reference to the
documentation submitted at the time of application. In this case, after an assessment of the
new evidence collected, the Committee has the power to issue an order of revocation of its
Certificate of No Impediment, to be transmitted to the non-EU citizen, to the Visa Office at
the Ministry of Foreign Affairs, and to all diplomatic and consular offices with territorial
jurisdiction for the area where the applicant resides.

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The consular appointment: documentation required
The documentation that the visa applicant must submit at the consular appointment is thefollowing:
1. the Certificate of No Impediment (Nulla Osta) granted by the ISV Committee,
together with the complete original documentation submitted for evaluation4;
2. proof of suitable accommodation in Italy, e.g. through hotel reservations or adeclaration of hospitality;
3. demonstration of an income, obtained in the previous financial year in the country ofresidence, amounting to a higher sum than the legal minimum for exemption fromcontributions to the National Health Service (about 8,500 euros). The applicant
may also provide an equivalent guarantee by governmental agencies (Italian or nonItalian), from Italian citizens or from foreigners legally residing in Italy;
4. Four passport-size photographs;
5. valid passport;
6. proof of residence in the local consular district.
After receiving visa application, which includes the documentation listed above, theconsular authority carries out its routine checks. If successful, it issues self-employment
entry visa with a duration of one year. The visa is subject to the annual migration quotas
provided for in the Decree on Migration Flows for the reference year (for 2018: DPCM
15/12/2017, art. 3, par.1, letter e.)

4With specific reference to the Nulla Osta, the applicant may submit as an “original version” a printed-out
version of the Certificate, scanned and signed by the President of the ISV Committee and then sent by email. If
deemed necessary, the consular office may request to the Secretariat (contact address:
info.italiastartupvisa@mise.gov.it) to forward the digital version of the Certificate.

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After the visa
The self-employment residence permit
After collecting their entry visa for startup self-employment, the non-EU citizen beneficiaryof the Italia Startup Visa programme has 180 days to move to Italy and apply for a 1-year
self-employment residence permit.
The startup visa holder must formally apply for their permit within eight days of their arrival
in Italy. According to art. 3 of the aforementioned Decree of the Minister of Foreign Affairs
and International Cooperation, in agreement with the Minister of Interior, signed on 30 June
2017, applications for residence permit and related requests for clearance to family reunion
and, in general, to entry in Italy of accompanying family members, shall be given priority
and shall be dealt with as a matter of urgency by the competent offices.
Priority residence permit applications take place at the Questura responsible over the area
the applicants intends to be a resident To speed up the procedure to issue the residence
permit, the non-EU citizen is invited to inform the Secretariat of the Committee in advanceon the date on which he or she will visit the local Questura, which will be then informed by
the Secretariat itself.
At that venue, the Questura collects the fingerprints of the applicant, and authorises, after
the customary background checks, the issuing of a residence permit in card format, which
will be handed to the applicant at a later time.
It is also possible to apply according to the standard digitised procedure provided for selfemployment residence permits: that is, by filing a special set of forms available at most local
post offices (a “postal kit”). However, unlike those made at Questura, applications
submitted by postal kit will not be dealt with as a matter of urgency.
For other purposes related to the migration process, startup visa holders are subject to thesame rules provided for self-employment visa (and residence permit) holders:the legislation applicable to family reunion is that ordinarily provided by the TUI(d.lgs no. 286/1998, art. 29).
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like all holders of a residence permit valid for more than one year, the beneficiary of
the startup visa is required to sign an "integration agreement" with the concerned
authorities (d.lgs no. 286/1998, art. 4-bis, implemented by DPR no. 179/2011).



for startup visa holders current regulations apply for healthcare matters as well (d.lgs
no. 286/1998, art. 35-36; DPR no. 394/1999, Capo VI “Disposizioni in materia
sanitaria”).

The appointment at the Questura: documentation to submit
The documentation that the residence permit applicant must show during the appointment
with the Immigration Office (“Ufficio Immigrazione”) of the Questura is the following:

receipt of payment of a € 30.46 postal bulletin, for the printing of the electronic
document. The payment is made at a Post Office;receipt of payment of a € 50.00 postal bulletin, as a contribution for the issuance ofthe residence permit. The payment is made at a Post Office;a photocopy of the entire passport (all internal pages included);

2 passport-size photographs;a € 16.00 revenue stamp;

supporting evidence about the accommodation status of the applicant in Italy.

How to renew a residence permit
Up to 60 days prior to its expiry date (and one year since the day of application at the post
office), the residence permit for self-employment may be renewed for a maximum of two
years. It is then renewable at expiration and can be extended for a further two years. After
five years, the non-EU citizen can apply for a residence permit for long-term residents,
which has no expiry date.
The renewal process is triggered by filing a request at the Questura with jurisdiction over
the area where the applicant resides. The request must be accompanied by the following
documents:

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Chamber of Commerce company registration details (“visura camerale”) of theinnovative startup, including its articles of incorporation and by-laws, and proof of its
registration in the special section of the Business Register. The documentation must
provide evidence that the non-EU citizen is a self-employed person within thecompany;

proof of having gained, over the course of the previous year, an annual income fromlegitimate sources higher than the legal minimum for exemption fromcontributions to the National Health Service.

It follows therefore that, in order to obtain the renewal of the residence permit, non-EU
citizens must have already established a company, which must also meet the innovative
startup requirements and be registered in the special section of the Business Register.
As for any other residence permit, a necessary condition for renewal is that the non-EU
citizen does not leave Italy for more than 6 months (half of its duration) continuously. Thisrequirement can be waived only in proven cases.
If, after renewal, the company no longer meets the requirements to be considered an
innovative startup (as per Legislative Decree no. 179/2012, art. 25 par. 2), the residence
permit is not revoked.
Availability of the startup visa holders
At the time of application, the non-EU citizen that intends to participate in the Italia
Startup Visa programme agrees to make themselves available for any communications
or regular surveys managed by the ISV Secretariat. The ISV holder has therefore an
obligation to keep the authorities updated on their current migration status and on the
progress of their business activity. The Secretariat will inform the immigration authorities if
an ISV recipient is unavailable for contact.
Within 90 days from the date of application for a residence permit, the recipient of a startup
self-employment visa undertakes to communicate:36

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the status of the procedure to obtain a residence permit for self-employment:materials proving that the application has actually been made, or, if the permit has
already been issued, a copy thereof;the incorporation of the innovative startup and its references (name, tax code, dateof registration in the special section of the Business Register referred to in article 25,
paragraph 8 of Decree-law 179/2012). If the company has not been incorporated yet,the non-EU citizen undertakes to give notice of this as soon as possible;

updated contact details (email address, telephone number) and address.

The non-EU citizens also commit themselves to updating on a regular basis the Secretariatof the Committee on the development of their entrepreneurial venture, as well as tocommunicate any changes in their contacts.
The applicant also undertakes to inform the Secretariat of the decision to leave theprogramme. In other words, they should notify the Committee of their intention not tocollect the visa within three months from the issue of the Certificate of No Impediment, or
not to move to Italy within the 180 days allowed for converting the visa into a permit and, inany case, of their renunciation to incorporate an innovative startup in Italy.

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Flow Chart
Figure 1: Flow chart of the standard application procedure

The non-EU
citizensends, to theemail address
italiastartupvisa@mise.gov.it•(undertaking by incubator, if
applicable)••

ItaliaStartup Visa
Committee

if complete,submitted forevaluation tothe…

if the Committee
approves, it issues
within 30 days a…

•••«NullaOsta ISV»and receives…

Within 6 months,
the visa holder comesto Italy… and within 8 days
visits the local
Questura, applying
for a…

Passport
Optional supporting
documentation«Nulla Osta ISV»
Application documents
in original version

•

•

•

«Startup» selfemployment visa
(1 year)Cover letter for financial
resources
Demonstration offinancial availability(e.g. presentation deck,business plan, CV)•
Within 3 months, theapplicant goes to the
Italian consulate
responsible for theirarea of residency,
taking with them…

Application form

Demonstration ofsuitableaccommodation
Demonstration ofincome of no less than
8.500 €
Demonstration ofresidency in theconcerned consular area••

Passport
4 passport-style photos

Self-employment
residence permit(1 year)38

Guidelines to the Italia Startup Visa programme

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Figure 2: Applications to join startups already in existence

Requirement

Documentation

The company must be:- a limited company (s.r.l. or
s.p.a)- operational for no less than
three years- an innovative startup

Personal financial
resources above €100k

Company profile (visura)
Presentation deck
Cover letterand supporting
documentation(e.g. bank statement)

Commitment to take aleading role, defined as:-president
board member
CEOauditorSpecification of theentrepreneurial activity
pursuedInformation on theagreement:- amount invested- time of investment- time of appointment

CV of the applicant
Target location

Minutes fromshareholders’ meeting
deposited with the Chamber ofCommerce

Job agreement,
signed by the parties«Memorandum ofUnderstanding»signed by the parties
Standard application
form
39