Required documents for opening a business bank account, or a wamo account, as a non-resident in Italy
Communication Team
Communication Team

November 04, 2022

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Required documents for opening a business bank account, or a wamo account, as a non-resident in Italy

Opening a bank account is an important step for any business and it’s also necessary to ensure that you have all the information required to open one. Below, we’ve outlined what documents you will need to submit in order to open a business bank account as a non-resident of Italy.

The legal framework

The legal framework for the opening of a bank account in Italy is characterised by strict standards, particularly in the phase of identification and investigation of the client, part of the so-called KYC policy (Know Your Customer).

  • The customer must provide documentation on his identity and residence.
  • All documents must be originals: no copies allowed!

The list below shows some examples of acceptable documents you can use to open an account at an Italian bank:

Italian banking institutes require several documents

To open a bank account in Italy as a non-resident, Italian banking institutes require several documents for identification purposes; for example, you will have to provide a valid passport and tax code.

Your passport must be valid for at least three months after the date of your arrival in Italy. This means that if you intend on staying in Italy for less than three months then your passport must still be valid when it expires at least 30 days after your arrival date. While applying for an Italian bank account as a non-resident, you may also need a foreign identity card or residence permit (permesso di soggiorno).

You need the following documents to open a business bank account in Italy as a non-resident.

Here is the list of documents you’ll need in order to qualify for a business (or, corporate) bank account in Italy:

  • A valid passport. You can get your passport from the nearest embassy or consulate of Italy. In the case, if you do not have a passport you can apply for one before leaving for Italy.
  • A tax code (codice fiscale). This is issued by the local tax office (ufficio delle entrate) and is necessary for opening any kind of bank accounts in Italy. If you are an Italian citizen, then you will receive this code automatically on your 18th birthday and if you are not an Italian citizen then apply through your local council’s website or submit all required documents to obtain it before leaving for Italy.
  • Residence permit in Italy
  • Proof of address
  • Birth certificate (some banks may ask for this)
  • Proof of income (some banks may ask for this)
  • Reference from your bank in your country of residence

Best way to open a business account in 10 minutes without hassle!

There are good alternatives to the traditional banks when it comes to opening a business account that can meet all your needs and the requirements for doing business in Italy as a non-resident. Alternative service providers, like wamo, that aren’t as constrained by the sometimes antiquated processes still used by many traditional banks, can give entrepreneurial business owners access to a smarter level of account faster and more affordably. With wamo it’s possible to register for a business account in just 10 minutes and to have the account validated and up and running within 24 hours. No bank visit, no unnecessary paperwork and no long wait periods!

To start the process, download wamo business from Google Play or the App Store. We hope that this article was helpful. If you’d like to know more about opening a business account as a non-resident in Italy or if you have any questions, talk to us! A friendly wamo team member is always available via the Chat box on the website, or email support@wamo.io.

Wamo.Io LTD incorporated and registered in the United Kingdom under the company registration number 12352849 and the operational office of which is at WeWork, 199 Bishopgate, London EC2M 3TY. Wamo.Io LTD (Firm Reference Number 922901) is an EMD agent of PayrNet Ltd which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR’s) with Firm Reference Number 900594.

Wamo Solutions Ltd is registered under the Laws of Malta with company registration number C97355 and registered office at Dragonara Business Centre, 5th Floor, Dragonara Road, St. Julians STJ 3141, Malta. Wamo Solutions Ltd is an EMD agent of UAB “PAYRNET” which is authorised by the Bank of Lithuania under the Law on Electronic Money and Electronic Money Institutions (authorization code LB001994, license reference 72).

The wamo card is issued pursuant to licence from Visa. UK issuance is conducted by PayrNet Ltd and EU issuance is conducted by UAB PayrNet. wamo operates the wamo.io website and the app. wamo is not a bank, the current account is an e-money account. Issuance of Electronic Money and payment services is provided by PayrNet Limited. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. Your funds will be safeguarded in one or more segregated bank accounts with a regulated third party credit institution and not lent out, which gives you protection against insolvency, in accordance with the provisions of the Electronic Money Regulations 2011.

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