Italian Business Bank Account: Opening Guide

Published on October 1, 2025 and written by Cyril Jarnias

Italy, with its dynamic economy and rich cultural heritage, attracts numerous foreign entrepreneurs eager to establish their business there. However, opening a corporate bank account in this Mediterranean country can seem complex for the uninitiated. This article will guide you through the essential steps, required documents, and introduce you to the main Italian banks to help you make the best choice for your business.

Keys to Opening a Corporate Bank Account in Italy

Opening a corporate bank account in Italy is a crucial step for any entrepreneur looking to establish themselves in the country. Here are the essential points to know:

1. Choose the Right Type of Account

In Italy, there are several types of bank accounts for businesses. The most common are:

• Current account (conto corrente): ideal for daily transactions
• Savings account (conto di risparmio): to optimize your cash flow
• Deposit account (conto deposito): for term investments

2. Select a Bank That Fits Your Needs

Look for a bank offering services tailored to foreign businesses, with English support if possible. Compare fees, online services, and geographic presence.

3. Prepare for an In-Person Visit

Unlike some European countries, opening a corporate bank account in Italy typically requires an in-person visit to a bank branch.

4. Master Italian Specifics

Familiarize yourself with the Italian banking system, particularly the codice fiscale (tax identification number) that will be required when opening the account.

The Perfect File: Essential Documents to Convince Italian Banks

To open a corporate bank account in Italy, you’ll need to provide a set of documents. Here’s a list of the pieces generally required:

• Passport or ID card of the company director(s)
• Recent proof of address (less than 3 months old)
• Company statutes translated into Italian by a sworn translator
• Kbis extract or equivalent document less than 3 months old
• VAT intra-community number
• Codice fiscale (Italian tax identification number)
• Detailed business plan in Italian
• Bank statements from the last 6 months of your current business account
• Proof of residence in Italy for at least one of the directors (if applicable)

Watch Out for Italian Specifics

In Italy, additional documents may be required depending on the type of business or industry sector. For example, for a branch of a foreign company, you’ll need to provide a certified copy of the parent company’s statutes, translated into Italian.

From Theory to Practice: Step-by-Step Procedure to Create Your Corporate Bank Account in Italy

Here are the steps to follow to open your corporate bank account in Italy:

1. Research and Bank Selection

Compare offers from different Italian banks based on your specific needs. Don’t hesitate to contact several institutions for detailed information.

2. Scheduling an Appointment

Once you’ve made your choice, contact the bank to schedule an appointment. Some banks offer online appointments, but most prefer an in-person meeting.

3. Preparing the File

Gather all the necessary documents mentioned previously. Ensure all translations are certified.

4. Meeting with the Bank Advisor

During the appointment, present your business project and answer the advisor’s questions. Be prepared to explain your activity and your plans in Italy in detail.

5. Document Verification

The bank will carefully examine all your documents. This process can take several days, or even several weeks.

6. Signing the Contract

Once your file is approved, you’ll be invited to sign the account opening contract. Read all terms and conditions carefully before signing.

7. Account Activation

After signing, your account will be activated. You’ll receive your online access credentials and your business bank card.

Giants of Italian Finance: Spotlight on Main Banks and Their Strengths

Here’s an overview of the main Italian banks offering business services, with their respective advantages:

1. UniCredit

• Vast international network
• Advanced online banking services
• Dedicated support for foreign businesses

2. Intesa Sanpaolo

• Strong local presence in Italy
• Complete range of financial services for businesses
• Expertise in SME financing

3. Banca Monte dei Paschi di Siena (MPS)

• Oldest operating bank in the world
• Strong presence in central Italian regions
• Specialized services for agricultural and food industry businesses

4. BNL – BNP Paribas

• Part of the French BNP Paribas group
• Facilitated international banking services
• French support available

5. Banca Popolare di Milano (BPM)

• Strong presence in northern Italy, particularly Milan
• Services adapted for start-ups and innovative businesses
• Personalized approach for each business client

Opening a corporate bank account in Italy requires patience and good preparation. However, with the right information and a methodical approach, this process becomes much more accessible. Remember that each bank has its own requirements and procedures, so it’s essential to do your research with the chosen institution.

The key to success lies in meticulous preparation of your file and a clear understanding of your banking needs. Once your account is open, you’ll be ready to develop your business in the Italian market, rich with opportunities for dynamic and well-prepared entrepreneurs.