BANK ACCOUNT OPENING PROCEDURE

Steps to open an account

If you are doing business in Italy, if you own a property or if you have decided to settle down in Italy, you will need to have an Italian bank account.

It is important to highlight that before you start the procedure for opening a bank account, you need to obtain an Italian tax code aka codice fiscale. This is done by applying to the local Agenzia delle Entrate (Tax Office) or by hiring an agent or a law firm and instructing them to apply and obtain the tax code from them for you. The bank will also require a valid ID card, such as a passport. For non EU citizens, most banks require a written statement from the client’s home country bank attesting the client’s bank relationship in that country. This document is also used to verify the client’s residence address.

Most application forms to open a bank account are available online and by downloading the forms prior to choosing the bank account, you have the chance to read and compare the various economic conditions and opt for the most convenient solution for your specific needs.

In the event one is applying to open a bank account on behalf of a corporate entity, the bank will require a copy of the Articles of Association as well as the Memorandum, both documents, will have to be notarised and bear an apostille certificate if the company is not Italian. The bank will also require  a company report from the local Chamber of Commerce with the list of the board member and the list of shareholders, the taxpayer identification number and the Italian company tax code.

If you are seeking for more information on Civil Law or you are seeking assistance to open a bank account via Power Of Attorney contact one of our lawyers, by filling out the form below