We sketch the proposal for a PVLAS-Phase II experiment. The main physics goal is to achieve the first direct observation of non-linear effects in electromagnetism predicted by QED and the measurement of the photon-photon scattering cross section at low energies (1-2 eV). Physical processes such as ALP and MCP production in a magnetic field could also be accessible if sensitive enough operation is reached. The short term experimental strategy is to compact as much as possible the dimensions of the apparatus in order to bring noise sources under control and to attain a sufficient sensitivity. We will also briefly mention future perspectives, such as a scheme to implement the resonant regeneration principle for the detection of ALPs.