Guide to opening a business account for start-ups in Italy

2 years ago   •   .4 min read

.By İlayda Birol
.Table of contents

Opening a business account in Italy is not as difficult as you may think. This guide will help you understand everything from the first step in opening a business account to manage and maintain it afterwards.

Opening a business account in Italy

It can be daunting when you first start looking for a business account for your business. There are a lot of choices and a lot of differences between traditional institutions and alternative service providers. In this guide, we’ll focus on the steps and requirements that are most common. We’ll walk you through the steps of opening a business account, as well as indicate which documents are usually required.

Before we begin: please note that this guide only refers to private institutions and not public ones like Poste Italiane or Banco di Napoli. You can find more information about these below!

Approve your business idea

The first step in opening a business account is getting approval from the local authorities. Your municipality will approve your business plan and tell you if you need to make any changes before they approve it.

The commercial register will also check that everything is in order with your business plan. The person who registers a company in Italy is called the “commissioner”, and sometimes this role can be taken by more than one person; however, it's best if there's only one commissioner for each company.

After getting approval from both of these bodies, your next step is to get approval from the tax office (Ufficio Territoriale del Governo di Corte d'Appello). You'll have to give them copies of all relevant documents including:

  • A copy of your passport/ID card/EU identity card;
  • A copy of every member's ID card;
  • An extract from the commercial register proving that no other entity has been registered under this name;
Mistakes to avoid when applying for a business account
Want to open a business account as a foreigner in Italy? Before you start, find out details about opening a business account in Italy on the wamo blog

Find the right financial business provider

There are choices to make here! The first choice is whether you want to go with a traditional institution or with one of the many alternative financial service providers that are now readily available. If you do decide to go with a traditional option:

  • Look for an institution that has branches in your area. This will help you make regular deposits, take out cash and pay bills on time.
  • Check that they have the right products for your business. For example, if you want to issue credit cards or accept Mastercard or Visa payments online, look for another one that offers these services.
  • Make sure the branch has staff who can help you with your financial needs and with understanding any relevant tax laws.
  • If you want to open a business account without any hassle and paperwork, open your account with wamo in just 10 minutes.

Organise your documents

If you want to open a business account in Italy, prepare the following documents:

  • Italian company registration certificate (certificato di iscrizione al Registro delle Imprese) which should contain all information about the company and its shareholders.
  • Italian tax code (codice fiscale).
  • Italian VAT number (codice IVA).
  • Business account opening form (CAF), filled out with your personal details and those of the company. You also need to attach copies of your passport or identity card, proof of residence in Italy and proof of address in Italy (utility bill, financial statement etc.).
Documents for opening a business account in Italy
If you want to open a business bank account or wamo business account in Italy as a non-resident, here is the list of documents you need!

Make an appointment at the branch

  • Make an appointment at the branch
  • Bring all the required documents
  • Bring your business plan (and/or business idea)

Alternatives to traditional institutions

Alternative financial service providers are usually more flexible and accessible when it comes to opening a business account in general. And for an account in Italy, this is also true. It’s possible to register for a wamo business account in 10 minutes and to have an account up and running in 24 hours. If you compare this to the days, weeks and sometimes months it can take to open a business account with a traditional financial service provider, you can see what a great alternative wamo is!

With a wamo business account, you can enjoy features like multiple accounts with EUR and GBP IBANs, physical & virtual team cards with free shipping anywhere in Europe and the UK and personalised customer service from a team that genuinely cares about your business.

We hope you found this guide useful. We’re here to help you through every step of opening a business account in Italy. If you have any questions or feedback, please don’t hesitate to reach out by emailing or by using the Chat button on the website.


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