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Open a Corporate Bank Account in Italy

Updated on Wednesday 12th April 2017

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Open-a-corporate-bank-account-in-ItalyForeign investors are allowed to open companies in Italy just like local ones. The steps related to the company formation process is also the same for both local and foreign enterprisers. These steps include:

  • -          drafting the company’s statutory documents;
  • -          reserving a company name;
  • -          setting up a bank account;
  • -          registering the company with the Companies Register;
  • -          purchasing accounting books;
  • -          obtaining a tax number and a VAT number;
  • -          registering for social insurance purposes;
  • -          obtaining special licenses, if necessary.

One of the most important steps is the corporate bank account opening, as all Italian companies must open such an account. Our Italian company formation agents can assist foreign investors with the whole company incorporation process.

How to set up a company bank account in Italy

All Italian banks offer tailored services to companies, which is why finding a bank is not a hard task. Also, many large foreign banks have branches in Italy and foreign investors can choose to set up Italian corporate bank accounts with a branch of a bank from their home country.

An important aspect to consider is that if until a few year back Italian banks allowed the opening of both personal and corporate bank accounts remotely, now they require the person, respectively a representative of the company to go to the bank in order to set up the account. However, our local agents can prepare the documents related to the company bank account opening before the company representative comes to Italy.

Documents needed to open a corporate bank account in Italy

As mentioned above, our company incorporation consultants in Italy can assist by preparing some of the documents related to the opening of a corporate bank account. The documents to be filed upon the opening of a company bank account in Italy are:

  • -          the passport of the company director;
  • -          the proof of address of the director;
  • -          the tax identification number;
  • -          the company’s certificate of registration;
  • -          the certificate of good standing of the company;
  • -          the statements related to the good financial status of company shareholders owning more that 20% of the shares in the company.

If you want to set up a corporate bank account and need assistance do not hesitate to contact our company registration consultants in Italy.

 

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