corporate bank account
Italian Bank Account for Non-Residents and Foreign Directors
We prepare the company's bank file with its structure: vehicle, signatory and owners settled before a bank is approached. The bank decides.
- S.r.l.: no account needed before the deed (Art. 2464(4) c.c.)
- S.p.A.: bank deposit before the deed (Art. 2342(2) c.c.)
- Identification without travel: the routes of Art. 19 D.Lgs. 231/2007
The account follows the structure: the vehicle and the signatories decide when the first account is needed and what the bank asks.
A bank file prepared with the structure
We work from Milan for foreign groups, non-resident founders and directors abroad, on companies anywhere in Italy. The vehicle decides: an S.p.A. pays a bank deposit before the deed, an S.r.l. needs no account first (Arts. 2342(2), 2464(4) c.c.). A branch is checked through its parent, so its account sits with our branch or subsidiary set-up service.
No company has a right to an account. The Banca d'Italia's consumer page of 29 May 2025 says banks and other payment service providers are in general not obliged to accept a request to open one. We prepare and coordinate the file; the bank decides.
What's included
What we prepare and coordinate, and what stays with others.
A decision map before the deed
Whose account, when, which provider, who signs and the ownership shape, settled with you before the notary is instructed.
The order the law sets
The S.p.A. deposit before the deed, no account first for an S.r.l. signed in person, and the notary's dedicated account on the online deed (Art. 2(1) D.Lgs. 183/2021).
An identification route for the director abroad
One of the routes Art. 19(1)(a) D.Lgs. 231/2007 counts as identification without physical presence, prepared in advance. The bank decides which it accepts.
The ownership file
The chain mapped against the beneficial-owner test of Art. 20 D.Lgs. 231/2007, and the information the company supplies in writing under Art. 22.
Foreign papers and tax codes
Apostille or legalisation and certified translation of the parent's documents, and the codice fiscale (tax code) route for each signer.
What stays with others
The bank's decision and its identification, the notary's deed, the consul's declaration and the attribution of a tax code. We promise no acceptance and no time.
Decisions to settle before the deed
Six decisions with the rule behind each. The table states conditions; the choice for your group is made in a conversation.
| Decision | Options | What the law fixes | Where the bank's own decision starts |
|---|---|---|---|
| Whose account | The Italian company; the branch of the foreign company; the director as a consumer; none yet | No right to an account for a company or a branch; the basic account (conto di base) is for consumers legally staying in the EU (Banca d'Italia, 29 May 2025); a branch is checked through its parent | Whether to open at all |
| When the first account is needed | S.p.A.: before the deed; S.r.l. in person: after registration; S.r.l. online: the notary's account; a VAT-registered company: before the first F24 | Arts. 2342(2), 2331(4), 2464(4) c.c.; Art. 2(1) D.Lgs. 183/2021; the F24 is online only for VAT-number holders (Agenzia delle Entrate) | Onboarding time: no statutory term |
| Which kind of provider | Bank; Poste Italiane; payment institution; e-money institution; a provider seated in another member state with no Italian branch | All are obliged entities under Art. 3(2) D.Lgs. 231/2007, with one due-diligence chain; the S.p.A. deposit is placed in a bank (Art. 2342(2) c.c.) | Whether an e-money account can take the capital: no official source says so |
| Who signs and how they are identified | Director abroad; director resident in Italy; attorney; a visit | Presence as the default and the routes of Art. 19(1)(a) D.Lgs. 231/2007; a first transfer from another account is not a route for a current account | Which route it accepts |
| Ownership shape | One holder above 25%; several at or below 25%; a chain of companies; a fiduciary holder | More than 25% through chains and fiduciaries, then control, then the legal representatives (Art. 20 D.Lgs. 231/2007); from 10 July 2027, 25% or more, and nominees named with their status (Regulation (EU) 2024/1624) | Enhanced checks where a risk factor applies (Art. 24 D.Lgs. 231/2007) |
| The owners' nationality | A US person; an EU person; another third country | The FATCA agreement ratified by L. 95/2015; no statute cited here bars a US person | Acceptance |
Sources: the articles listed; Banca d'Italia; Agenzia delle Entrate.
How the process works
Who acts at each step, and whether the law sets a term.
Settle the structure
The vehicle, a signatory in Italy or abroad, the cap table, any chain or fiduciary holder, any US person among the owners.
You, with us. No statutory term
A tax code for each signer
From the Italian consulate in the country of residence, or an Agenzia delle Entrate office (form AA4/8).
No term found
The parent's papers
Incorporation certificate, register extract and the signatory's powers, apostilled or legalised, then translated and certified.
No statutory term
The identification route
A public deed or qualified signature certificate, a digital identity, or a declaration at a first-category Italian mission.
The bank decides what it accepts
S.p.A. only, the deposit
At least 25% of the cash contributions, 100% for a single founder, paid into a bank before the deed (Art. 2342(2) c.c.). Law: if the company is not registered within 90 days of the deed, the sums return (Art. 2331(4) c.c.).
Deed and filing
For the single-member S.r.l. in Italy, the capital goes to the management body named in the deed, or online to the notary's account.
Law: filed within 10 days
Provider and the F24
Bank, Poste Italiane, payment or e-money institution. The Agenzia's own F24 channel needs an agreed bank or Poste Italiane.
Before the first F24
The application
For a new company or a ready-made S.r.l. Italy taken over, the bank identifies the company, the person acting, each beneficial owner and the purpose (Art. 18 D.Lgs. 231/2007).
No statutory term
law set by statuteRegister guide GuidaComUnicano term no statutory term
When each vehicle meets a bank
S.p.A.
a bank deposit before the deed
- Bank depositlawat least 25% of the cash contributions, 100% for a single founder, paid into a bank before the deed (Art. 2342(2) c.c.)
- Deedbefore the notary
- Registrationlawwithin 90 days of the deed, or the sums return to the payers (Art. 2331(4) c.c.)
S.r.l. signed in person
no account first
- Deedbefore the notary, in person
- Capitallawpaid to the management body named in the deed (Art. 2464(4) c.c.)
- Accountno termopened after registration
S.r.l. by videoconference
the notary's account
- Online deedsigned by videoconference
- Capitallawtransferred to the notary's dedicated account (Art. 2(1) D.Lgs. 183/2021)
All three lanes join here the same filing, entry and confirmations
- 1
Filing
The notary
- law within 10 days (Art. 2330(1) c.c.)
- 2
Entry in the Register
The Register
- law within 10 days of protocol, 5 if electronic (Art. 11(8) D.P.R. 581/1995)
- 3
Confirmations
The chamber and the agencies
- Register guide to the company's PEC within 5 days, from the agencies within 7 (GuidaComUnica)
- 4
The company's application
The company, then the bank
- no term no statutory term
The bank's decision has no statutory term
Not sure when your vehicle needs its first account?
The vehicle decides whether a bank comes before or after the deed. A short call maps it for your group.
Identification and documents for a director abroad
Legal categories, not a bank's checklist, with the route that avoids travel.
How the person acting is identified
Art. 19(1)(a) D.Lgs. 231/2007
- Presencedefaultthe default
- Public deed, authenticated writing or qualified signature certificateroutea route without presence
- Digital identity of at least significant assurance, or a qualified e-signatureroutea route without presence
- Declaration of the Italian consular authorityroutefirst-category missions only (Art. 6(1) D.Lgs. 153/1997)
- A client already identified by the same entityroutea route without presence
- Forms set by the supervisory authoritiesroutea route without presence
- SPIDgateneeds an Italian identity document (AgID); at the Milan chamber an Italian identity card, which a foreign citizen can apply for only with a valid residence permit
- A first transfer from another accountnot a routenot a route for a current account
Whom the bank treats as the owner
Art. 20 D.Lgs. 231/2007
- A natural person above 25%firstdirectly or through companies, fiduciaries or an intermediary (Art. 20(2))
- Else whoever controls the companythenArt. 20(3)
- Else the legal representativesthenArt. 20(5)
- From 10 July 2027dated25% or more; nominees named with their status (Regulation (EU) 2024/1624)
The bank decides which identification route it accepts.
| What the bank establishes | What a non-resident provides | Route without travel, or its limit | Rule |
|---|---|---|---|
| Identity of the person acting | A valid identity document | The routes of Art. 19(1)(a); SPID needs an Italian identity document; the consular declaration only at first-category missions | Art. 19 D.Lgs. 231/2007; Art. 6(1) D.Lgs. 153/1997 |
| Power of representation | The Register's data for a director; a procura (power of attorney) for an attorney | A deed made abroad: apostille or legalisation, then certified translation | Art. 18(1) D.Lgs. 231/2007; Ministry of Foreign Affairs |
| Tax code of the person | A codice fiscale from the consulate or an Agenzia office (form AA4/8) | Statutory fallback: the Art. 4 identification data with the foreign domicile; whether a bank accepts it is open | Art. 6 D.P.R. 605/1973, text in force to 31 December 2026 |
| The company's existence | The chamber certificate (certificato camerale, legal value, valid six months) or the extract for information; ask the receiver which | Issued in Italy: no apostille, no translation | Register of Companies |
| Each beneficial owner (titolare effettivo) | Identity data and the ownership chain above 25%; failing that, the control position or the legal representatives | The company supplies it in writing and keeps it at least five years | Arts. 20 and 22 D.Lgs. 231/2007 |
| Purpose of the relationship | A statement of its purpose and nature; the origin of funds where the risk requires | None | Art. 18(1) D.Lgs. 231/2007 |
| US-person status | The bank's own tax-status form | No statute cited here bars a US person | L. 95/2015 |
Sources: the articles listed; AgID; the Milan chamber; the Register of Companies; the Ministry of Foreign Affairs.
Italian terms and state charges
The statutory terms around the account and the formation, and what the state charges, as in force in 2026.
| Item | What the law fixes | Figure or term | Source |
|---|---|---|---|
| Checks before the account | Identification and verification before the relationship starts | Before the relationship | Art. 18(2) D.Lgs. 231/2007 |
| Low-risk postponement | Only the verification may follow; the identifying data are collected anyway | Within 30 days, or the bank abstains | Art. 18(3) D.Lgs. 231/2007 |
| Opening the account | No statute sets a term; no official source read publishes a turnaround | None | - |
| S.p.A. deposit | Sums released to the directors only on proof of registration | Registration within 90 days of the deed, or the sums return | Art. 2331(4) c.c. |
| Notary's filing | The deed filed with the Register | Within 10 days | Art. 2330(1) c.c., as amended by Law 12/2019 |
| Register entry | Entry without delay | Within 10 days of protocol, 5 if electronic | Art. 11(8) D.P.R. 581/1995 |
| First annual chamber fee, Milan, 2026 | Capital company; secondary seat of a foreign enterprise | EUR 120; EUR 66; at filing by automatic debit, or by F24 within 30 days | Milan chamber, MIMIT note 9347 of 16 January 2026 |
| Stamp duty on account statements | Client not a natural person; natural person | EUR 100.00 a year; EUR 34.20, not due at an average balance of EUR 5,000 or less | Art. 13(2-bis) Tariff D.P.R. 642/1972, as substituted by Art. 19 D.L. 201/2011, text in force to 31 December 2026 |
| Tax payments | VAT-number holders file the F24 online only; the Agenzia's own channel needs an account at an agreed bank or Poste Italiane when the balance is above zero | None fixed | Agenzia delle Entrate, F24 page |
| Transfer to a US account | The shared-charges rule does not apply where only one provider is in the Union | No statutory tariff; the bank's price | Directive (EU) 2015/2366, Arts. 2(4), 62(2) |
Sources: the articles listed; the Milan chamber.
Problems we solve
Where a bank file stalls, and how we handle it.
No bank has to say yes
A bank that cannot complete due diligence must refrain (Art. 42 D.Lgs. 231/2007), sometimes without reasons, since Art. 39 bars tipping off. We build the file on Art. 18's list.
The director cannot travel
Art. 19 lists routes without presence. SPID needs an Italian identity document (AgID). The Milan chamber, as an SPID provider, asks for an Italian identity card, which a foreign citizen can apply for only with a valid residence permit. We prepare one route in advance.
No codice fiscale yet
A consulate or an Agenzia office attributes it. The statute has a non-resident fallback, and whether a bank accepts it is open. We choose the route for each signer.
The owner sits behind a holding or a fiduciary
Holdings through controlled or fiduciary companies count towards the more-than-25% test (Art. 20 D.Lgs. 231/2007). We map the chain before the deed; the route itself is on the fiduciary mandate page.
A fintech account first
The same due-diligence chain applies, the S.p.A. deposit goes into a bank, and no official source says an e-money account can take the capital. We check the category against the vehicle.
Is your ownership chain ready for the bank's questions?
The bank asks about each owner above the threshold and the person acting. A plan settles both before the deed.
Why work with us
Elena Riva
Formation and Register Lead, Milan. Italian, English, French.
From our practice
we map the signatory, the ownership chain and the vehicle before the notary is instructed, and every rule on this page carries its source.
Frequently asked questions
Can a company or its foreign owner require a bank to open an account?
No. Banks and other payment service providers are in general not obliged to accept a request (Banca d'Italia, 29 May 2025). The one legal right, the basic account, belongs to consumers legally staying in the EU, so a company is outside it. A bill for a wider right, Senate S. 1595, was pending at the last check, September 2026.
Why may a bank refuse without giving a reason?
A bank that cannot complete due diligence must refrain from opening the relationship (Art. 42 D.Lgs. 231/2007). It also may not tell the customer, or anyone but the authorities, that a suspicious-transaction report has been or will be made (Art. 39), with a criminal penalty in Art. 55(4). A refusal can therefore come without reasons.
Can the director open the company's account without travelling to Italy?
Art. 19(1)(a) D.Lgs. 231/2007 counts identification as done without physical presence on listed routes: a public deed or qualified signature certificate, a digital identity of at least significant assurance, or a declaration of the Italian consular authority. A first transfer from another account is not a route for a current account. The bank decides which route it accepts.
How long does opening the account take?
No statute sets a term for opening a company account, and no official source read publishes a turnaround. The only statutory clock is the 30 days within which a postponed verification must be completed in low-risk cases (Art. 18(3) D.Lgs. 231/2007). The formation steps around the account have their own terms, set out in the table above.
Does a holding company or a fiduciary shield the owner from the bank?
No. A stake above 25% held through controlled companies, fiduciary companies or an intermediary counts towards the beneficial-owner test (Art. 20(2) D.Lgs. 231/2007). From 10 July 2027, under Regulation (EU) 2024/1624, the bank also collects the names of nominee shareholders and directors with their status. The fiduciary route itself is described on its own page.
Is an Italian tax code needed to open the account?
The bank's account-opening act must carry the code (Art. 6 D.P.R. 605/1973). For a non-resident without one, the duty is met by the Art. 4 identification data and the foreign domicile or seat. A citizen resident abroad requests the code at the consulate. Whether a bank accepts the fallback is open; the text is in force to 31 December 2026.
Can a US citizen or a US-owned company open an Italian account?
No statute cited on this page bars a US person. Italian financial institutions work under the FATCA agreement with the United States ratified by L. 95/2015, and the tax-status form a bank uses is its own. Acceptance remains the bank's decision (Banca d'Italia), and this page gives no verdict for any country.
Can a non-resident open a bank account in Italy?
For a company, the same due-diligence chain applies to every obliged provider (Art. 3(2) D.Lgs. 231/2007), residence enters only as a risk factor, and a director abroad has the routes of Art. 19. For a person, the basic-account right needs a legal stay in the EU (Banca d'Italia). In both cases the provider decides.
Is it difficult to open a bank account in Italy?
The law gives no company a right to an account. It asks the bank to identify the company, the person acting and each beneficial owner before the relationship starts (Art. 18 D.Lgs. 231/2007), and to refrain when that cannot be completed (Art. 42). The file is prepared against those duties; the decision stays the bank's.
Does it matter whether the account is at a bank, Poste Italiane or a payment or e-money institution?
All are obliged entities with the same due-diligence chain (Art. 3(2) D.Lgs. 231/2007), and an e-money institution is a separate authorised category, not a bank. The S.p.A. deposit is placed in a bank (Art. 2342(2) c.c.), and the Agenzia delle Entrate's own F24 channel needs an account at an agreed bank or Poste Italiane.
Does an Italian company need a bank account before it can be formed?
Not an S.r.l. signed in person: the cash capital goes to the management body named in the deed (Art. 2464(4) c.c.); on the online deed it is wired to the notary's dedicated account. An S.p.A. does: at least 25% of the cash, 100% for a single founder, is paid into a bank first (Art. 2342(2) c.c.).
What does the state charge for holding a company account?
Stamp duty of EUR 100.00 a year on the account statements of a client that is not a natural person (Art. 19 D.L. 201/2011, text in force to 31 December 2026). In Milan, a first chamber fee of EUR 120 applies to a capital company registered in 2026. Bank fees are each bank's tariff; our fee is on request.
What does it cost to wire money from an Italian account to a US account?
No statutory price or cap applies. Where only one payment service provider is in the Union, Directive (EU) 2015/2366 disapplies its shared-charges rule (Art. 2(4)), so the price is the bank's tariff and the charge option agreed with it. Bank tariffs are not state charges, and this page names no bank.
What changes on 10 July 2027?
Regulation (EU) 2024/1624 applies directly from that date. The ownership test reads 25% or more instead of more than 25%, the bank collects more data on the legal entity, nominees included, and it checks beneficial owners against the central registers. Italian texts on this page are cited as in force in 2026.
Ready to plan the company's account with the structure?
Send us the vehicle, the signatories and the ownership chain; we reply with a bank file plan. Pricing on request.