An Italian bank account is essential for those who decide to live and work in Italy.
Opening a bank account in Italy, whether you are an Italian resident or a foreign national, involves a series of steps and requirements. Having to choose from the many available banks (Italian branches of international banks and also regional or local providers) and being proposed all the paperwork related to each bank’s terms and conditions can be confusing and challenging, especially when the foreigner is not in Italy and there is also a language barrier.
Each bank has their own terms and conditions, some may ask for a minimum amount of money to be deposited to open the account.
It is possible to open a bank account as non- resident – “conto corrente estero”- for those who are not registered at an Italian address with an Italian Comune and are not spending 183 days/year or more in Italy. However, not all banks allow this, some banks only allow limited services and operations for non-resident bank accounts. The documents requirements to open a non-resident account are the same as the resident account, nevertheless the bank may request additional financial documents to perform their due diligence.
When choosing a bank, it is also important to consider:
It is advisable to ask an expert to check which bank suits best your needs, also depending on your purposes of stay in Italy, e.g. if you are retired, working or if you are an investor.
This article was written by Louise D. Machetti
This article is posted by Mazzeschi Web Content Manager. Should you need any further information, please do not hesitate to contact us at info@mazzeschi.it. Follow us on social media @StudioMazzeschi to receive the latest updates.
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