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Opening a bank account in Italy

Opening a bank account in Italy If you’re looking to buy a property in Italy, one of the first things you need to do before starting the purchase process is open a bank account.

Read below to find out what you need to do to set one up.

What do I need to open an Italian bank account?

You will need a codice fiscally (Italian tax code) to open a bank account in Italy, but getting one is a simple process.

You can visit either the local tax office in Italy or the Italian Consulate in London. To complete any transactions on a business footing in Italy, you must have a codice fiscally - this code stays with you for your whole life.

Your local agent will be able to help you set up a bank account with a local bank.

FAQs: Opening a bank account in Italy

Why do I need a bank account in Italy to buy property?

To purchase property for sale in Italy, you will usually need an Italian bank account. It allows you to pay taxes, notary fees, and transfer funds securely during the property purchase process.

How do I open a bank account in Italy as a foreigner?

Foreigners can open a bank account in Italy with a valid passport or ID, proof of residence, and a codice fiscale (tax identification number). This is essential for managing payments when buying property for sale in Italy.

Can I open an Italian bank account online?

Yes, some Italian banks allow non-residents to open an account online. However, for buying property for sale in Italy, you may still need to visit a branch to verify documents and complete the transfer process.

What types of bank accounts are recommended for property buyers in Italy?

For purchasing property for sale in Italy, a standard current account (conto corrente) is recommended. It supports international transfers, bill payments, and escrow accounts often used in property transactions.

Are there fees for opening a bank account in Italy?

Bank fees vary by bank and account type. Typical fees for managing funds related to property for sale in Italy include monthly account charges, international transfer fees, and transaction costs when paying notaries or agencies.

Opening a bank account in Italy Download our guide