Entry to italy/schengen area- no visa needed but what other paperwork? please, very confused!?

My boyfriend is chilean and I am living in Italy, with Italian citizenship. As a chilean he is not supposed to need a visa to come to Italy. However, different websites say he will need to show proof that he has enough money to survive for the 3 month visa period. He will be staying with me and not living as a tourist, so wont be spending 40 euro a day, which is more or less the daily required amount. iv already sent him the hospitality card, but this appears to just exempt him from needing hotel reservations, and not the monetary requirement. iv called embies, consulates, police, immigration, foreign affairs, city councils... nobody has helped in any way. im worried he will arrive in italy and be sent back for not having the correct paperwork- even though no one will tell us what that is. any ideas would be really appreciated.