Business accounts: Italy
An honest assessment before work starts, the quote is fixed in writing.
Italy is the euro area's third-largest economy with major industry, tourism, fashion, food and design. Italian banks open accounts mainly for companies registered in Italy with an Italian tax code and address. A foreign company with no activity in Italy is rarely accepted, so usually an Italian company or branch is registered first.
An Italian company for the account
- The main form is the limited liability company (SRL). Capital can be from €1, but with capital of €10,000 or more a quarter is paid at formation. It is set up before a notary and entered in the chamber of commerce's Register of Companies.
- The company receives a tax code and VAT number, plus certified email (PEC), which is mandatory for the company and since 2025 for directors.
- Corporate income tax (IRES) is 24%, regional production tax (IRAP) usually 3.9%, VAT 22%.
Who Italian banks open company accounts for
| Company | Chances | What the bank cares about |
|---|---|---|
| An Italian company with an office and director in Italy | high | the director's tax code, address, activity |
| An Italian company with foreign owners | medium | an in-person meeting, signatories' Italian tax codes, source of capital |
| A foreign company's branch in the Register of Companies | medium | parent company documents, a representative in Italy |
| A foreign company not registered in Italy | low | banks usually refuse |
What documents the bank asks for
- A Register of Companies extract, articles and deed of incorporation.
- The Italian tax code and passport of every signatory and beneficial owner.
- The company's certified email address.
- A description of the business, clients, suppliers and expected turnover.
- Evidence of the source of capital, especially for foreign shareholders.
- For a branch, parent company documents with apostille and Italian translation.
Timeline
| Stage | Time |
|---|---|
| Tax codes for foreign shareholders and the director | 1-2 weeks |
| Deed before a notary and registration | 1-3 weeks |
| Preparing the bank file | 1 week |
| Bank meeting and decision | 2-6 weeks |
To pay in capital, many notaries and banks use a temporary account or a cheque before registration, so we agree the order of steps in advance.
Costs and deposit protection
Company current accounts in Italy carry an annual stamp duty of €118, about $140, regardless of balance (€100 before 28 March 2026), plus bank fees. Deposits at Italian banks, including companies' deposits, are protected by the interbank deposit guarantee fund up to €100,000, about $112,100, per depositor per bank.
We will calculate online the cost of opening an account for your company and maintaining it for a year.
Why the company needs an Italian account specifically
An Italian company pays taxes and contributions with a single payment form (F24), which is easiest to submit from an Italian bank's online banking: from a foreign account these payments are harder and slower. All invoices between businesses and to clients go through the state electronic invoicing exchange, and the bank sees turnover and compares it with the declared activity. So an Italian account is not a formality but a working tool: without it, paying salaries, taxes and suppliers on time is difficult.
Why Italian banks refuse
- Signatories cannot attend a meeting and the bank does not verify remotely.
- Foreign shareholders have no Italian tax code.
- It is unclear what the company does in Italy: no office, clients or contracts.
- The source of capital is not evidenced.
- Owners or counterparties are from sanctioned or higher-risk countries.
How we help
We obtain Italian tax codes, register the company with a notary and the register or review an existing one, set up certified email, prepare the bank file with the business description and source of capital, choose a bank and handle the meeting and review until a decision.
What we do
- Corporate account - opening assistance
See also
Company formation · Personal account · Investment property · Country taxes · All country programs
FAQ
Can a foreigner open a business account in Italy?
What documents are needed for an Italian company account?
How much does a company account cost to run?
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Choosing a bank for your company in Italy?
We pick an Italian bank for your company, prepare the compliance documents including the tax code and guide the opening. The catalogue covers business accounts worldwide.
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