Opening a Business Account in Italy for Non-Residents

Turin, Bologna, Naples, Milan and Rome are not only known for their beauty and cultural heritage, but also for their growing startup ecosystem. Since 2020, Italy has experienced an increase of 37% in tech startups alone, thanks to its supportive ecosystem. While it is possible to set up a business and open a bank account in Italy for non-residents, some additional procedures need to be taken. Learn everything about the preliminary requirements and the steps needed to open a business account in Italy.

Why should you open a bank account in Italy for non-residents?

Italy is the third-largest economy in the Eurozone and a key gateway to the European single market. Strategically located in Southern Europe, it offers access to more than 450 million EU consumers and serves as a crucial logistics hub connecting Europe, North Africa, and the Middle East.

Italy’s diversified economy ranges from advanced manufacturing to tourism and agriculture, which means ample business opportunities for foreign entrepreneurs. Opening an Italian business account is not only required by law, but also an important first step in establishing your business account in Italy.

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Preliminary requirements for a business account in Italy

Non-residents can open a business account in Italy, provided they meet certain legal and administrative conditions:

Common business structures in Italy

Choosing the right business structure is essential when starting a company in Italy, as it affects your legal liability, tax obligations, and operational flexibility. Italy offers a wide range of legal forms suitable for different business sizes and goals. Below is an overview of the most common types used by local and foreign entrepreneurs alike.

Limited Liability Company (SRL)

The Società a Responsabilità Limitata (SRL) is the most common form of business entity in Italy, especially among small and medium-sized enterprises. It offers limited liability protection, meaning shareholders are only responsible for the amount they invest. 

It requires a relatively low minimum capital contribution, often starting from €1 for simplified versions (SRLS). This structure offers flexibility in governance and profit distribution, and it is well-suited for both individual entrepreneurs and groups of investors. Foreign nationals can fully own an SRL, which makes it an attractive option for non-residents entering the Italian market.

Public Limited Company by Shares (SPA)

The Società per Azioni (SPA) is typically used by larger companies, especially those planning to raise capital through public investors or list on the stock exchange. It requires a minimum share capital of €50,000 and must follow more stringent governance rules, including a board of directors and a statutory auditor.

Shareholders’ liability is limited to their capital contributions. The SPA is suitable for businesses that expect significant growth, external investment, or international operations. It is also the preferred structure for banks, insurance firms, and other regulated entities under Italian law.

Partnerships

Italian partnerships include the Società in Nome Collettivo (SNC, general partnership) and Società in Accomandita Semplice (SAS, limited partnership). These structures are often used by small businesses and family-run enterprises. 

Partnerships are relatively simple to set up and manage but lack the limited liability protection offered by companies. They may be less attractive to foreign investors due to their legal exposure.

Sole Proprietorships

A ditta individuale or sole proprietorship is the simplest business structure in Italy and is typically chosen by freelancers and small business owners. It is easy to register and has low start-up costs, but the owner is personally liable for all business debts and obligations. 

This means that personal assets can be used to cover business liabilities. Sole proprietorships are subject to personal income tax on business profits. While ideal for small-scale activities, this structure may not be suitable for businesses seeking external investment or planning substantial growth.

Popular banks in Italy

Italy has a well-established banking sector with a mix of traditional banks and modern financial service providers. The following are among the most prominent institutions in the country:

4 easy steps to open a bank account in Italy for non-residents

Opening a business bank account in Italy as a non-resident may seem complex, but with the right preparation, the process can be completed smoothly. Below are four key steps to help you get started.

 1. Choose the right bank

Start by researching banks that suit your business needs. Consider factors such as language support, online banking services, international transfer fees, and experience with foreign clients. Some banks are more experienced in handling non-resident accounts and offer dedicated business services, while others may focus on domestic clients. You may also work with a local consultant or legal advisor to help you compare options and open an account that fits your legal and operational structure.

2. Prepare your company documents

Before you apply, gather all the necessary documentation. This usually includes the company’s certificate of incorporation, VAT number, chamber of commerce registration (Visura Camerale) and identification documents for all shareholders and directors. All documents must be translated into Italian and may require notarisation or an apostille, depending on their country of origin. Proper preparation will speed up the process and reduce the likelihood of your application being delayed or rejected.

3. Complete the application

Once you’ve selected your bank and gathered your documents, you can proceed with the application. Some banks allow online pre-registration, but most require an in-person meeting or a representative in Italy. During the application, you’ll provide personal details, company information, tax codes, and details about your business activity.

4. Wait for account activation

After submitting your application, the bank will review all documents and carry out internal checks. This process typically takes between a few days to a couple of weeks, depending on the bank and the completeness of your documentation. Once approved, you’ll receive your account details, online banking access, and payment instruments such as a debit card. Some banks may require an initial deposit to activate the account.

Business account Italy: Common disadvantages

While opening a business bank account in Italy offers many benefits, there are also some common drawbacks to consider:

Upgrade your Italian bank account with amnis

While opening a business bank account is a legal requirement in Italy, many companies quickly experience the limits of traditional banking when it comes to international payments, multi-currency workflows, and modern spend control. amnis is designed as an extension to your existing bank account, giving you a central platform to manage payments, currencies, and corporate spending more efficiently.

With amnis, you can manage multiple currencies within one account, issue physical and virtual multi-currency debit cards for your team, and benefit from transparent FX rates and centralised expense management. Local payment routes in the EU, UK, Switzerland, and the US make it easier to send and receive payments like a local business, while integrated accounting functions and API connectivity help automate workflows and reduce manual work.

Set up your free amnis demo account to simplify your financial setup and manage cross-border operations in Italy with more clarity, control, and flexibility.

Melina Fullin · Marketing Project Coordinator

Melina, Marketing Project Coordinator at amnis, has a strong background in content creation and communications, with a keen eye for trends and updates in global business. She researches and shares actionable insights on the FX market, international payments, and cross-border business topics through our blog and FAQ pages.

Her mission is to help companies stay informed, understand the complexities of international finance, and turn knowledge into practical decisions for their business operations.