Can foreigners own business in Italy?
Communication Team
Communication Team

November 17, 2022

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Can foreigners own business in Italy?

Are you an expat who is considering the idea of starting a business in Italy? Then, you may have some questions about the process. The good news is that it isn't too difficult to register your company with the Italian government. However, you will need to set up more than just a legal structure for your business if you want to be successful. In this article, we'll go over all of the steps involved with starting up a business as an expat living in Italy.

Registering a Company

To register a company in Italy, you need to submit the following documents to the Chamber of Commerce:

  • Your company name and address. This is so that they can properly record it and keep it updated.
  • The type of activity (commercial, industrial or craft) and its legal form (company or limited partnership). Also, you need to provide information about shareholders and partners if applicable, as well as their nationality. In addition, all documents must be translated into Italian by an accredited translator in order for them to be accepted at the chamber.
  • A list of addresses where your business will be carried out (if any). If there are no such addresses listed then only those who intend on running the business from home should register their address as “home” rather than providing any additional details regarding commercial spaces where this may take place outside of one's residence."

Charge VAT

If you want to open a business in Italy, it is important that you follow the rules and regulations set by the government. In this article, we will discuss how foreign individuals can register for VAT in Italy and how they can pay VAT in Italy.

The first step to take when registering for VAT as a foreigner is to apply for an NRE number (National Revenue Establishment Code). Once this has been done, you must then obtain a tax number from your local tax office. After obtaining these two things, it's time to register with the Italian Tax Authority! You can do this online by filling out a tax form. Once you’ve finished the application process and paid any fees due, your registration should be complete within three weeks or less!

Read: Revolut vs wamo - which wins out

Bank Account

Now that you know how to set up a business in Italy, you may be wondering what bank account is best for you. If you are an EU citizen, then your best bet is to open an EU bank account with your current home country's bank. This will enable easy cross border transactions and allow you to take advantage of euro rates when converting currencies into Euros. If you are not an EU citizen, then it is recommended that the first step towards opening a business in Italy would be opening up an Italian bank account with one of the many banks listed below:

Banca D'Italia (or Bank Of Italy) - The Central Bank Of Italy For All Things Financial And Economic In The Country. They Offer Varying Interest Rates On Deposits And Loans As Well As Services Such As Currency Exchange And Insurance Policies To Customers Who Are Already Registered With Them Or Are In Process Of Registering With Them Today!

For foreigners it can sometimes be complicated and time-consuming to secure a bank account with one of the traditional Italian banks. Which is where we come in! With wamo, it’s possible to open a business account with minimal hassle, much less paperwork than regular banks require and with no trips to the bank. You can complete a wamo business account application in 10 minutes and can have your full-service wamo business account up and running in 1 day.

Foreigners can own businesses in Italy, but they have to follow the country’s laws and regulations. The good news is that it is not complicated to start a business in Italy as a foreigner, as long as you follow some basic steps. It’s important that you register your company with the right government agencies, obtain necessary permits and licenses, and open an Italian bank account before commencing operations. If you have any questions about opening an Italian company or applying for an Italian visa, don’t hesitate to contact us!

Read: How can you reach wamo customer support services?

Your wamo business account is more than a bank account, for us, your business is our business, we are here to get your started and to help you grow. Starting a business in Italy as a foreigner can feel daunting, but it’s an exciting step and there’s no need for business banking side to be challenging. Download wamo business from the App Store or Google Play, or sign up on the website.

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