No bank account needed to incorporate an ordinary S.r.l.
What we do
We support non-resident founders opening a business banking relationship in Italy. A provider starts from the public register entry: how to look up an Italian company in the register. Pricing is on request.
Ownership profile review
We read the structure against the enhanced due diligence triggers a provider must apply, before an application goes near one.
Provider coordination
A bank, a payment institution or an e-money institution: we take the file to the one that fits. A crypto-asset business also faces its own CONSOB authorisation.
Beneficial-ownership file
The company must supply its beneficial-ownership information in writing. We prepare it before a provider asks.
When you need the account, and when you do not
Not to incorporate an S.r.l.
Paid to the management body named in the deed, with the means of payment stated there. Mechanics: setting up an S.r.l..
One exception: video conference
Incorporation by video conference needs the capital in cash, transferred to the notary's own dedicated account rather than to the founders or the company.
After the company exists
The banking step follows incorporation. It does not gate it.
Who can hold the account
An Italian business account need not sit at a bank.
A bank
The default, and what a supplier, a landlord or a tax authority expects on an invoice.
A payment institution
Istituto di pagamento. Capital floor EUR 125,000 for payment services 1 to 5, EUR 20,000 for money remittance only, EUR 50,000 for payment initiation only.
An e-money institution
Istituto di moneta elettronica, not less than EUR 350,000. The route is on payment institution and e-money institution licensing.
One law, whichever you pick
All three are soggetti obbligati under Article 3 of the anti-money-laundering decree. The provider changes, the checks do not.
Banca d'Italia on the alternative
The two non-bank routes "could in principle meet some of the same needs, though through different arrangements" (Banca d'Italia: hearing, 27 February 2025).
A decision path. Start: opening a business account in Italy. Three branches: bank, payment institution (IP), e-money institution (IMEL). All three converge on: same D.Lgs. 231/2007 customer due diligence, Article 3. The IP and IMEL branch differs only in capital tier and licensing profile. All three converge again on: Italian IBAN, SEPA transfers EU-wide. All three routes apply the same anti-money-laundering law, and reach the same IBAN and SEPA rails once the account is open. Only the capital and licensing profile differs.
How the process works
- Tell us the structure. Who owns the company, where those owners are resident, and what the business will actually do.
- Profile review. We read the ownership against the enhanced-diligence triggers: distance onboarding without secure electronic identification, links to higher-risk areas, interposed structures.
- Assemble the file. The visura camerale, the Italian VAT number and the beneficial-ownership data, gathered before an application rather than in answer to one.
- Choose the provider. A trading company usually sits with a bank. Cross-border volume, or friction already met at a bank, points to a payment institution or e-money institution.
- The provider runs its checks. Identify and verify the customer and the beneficial owner, assess the purpose of the relationship, then monitor it. Postponement: 30 days, low-risk only
- The account issues an Italian IBAN. Reachable for euro credit transfers and direct debits anywhere in the EU from day one.
Next step
Not sure how your ownership structure will read?
Send us the structure and we will tell you what a provider will ask.
Tell us about your caseWhat the law requires
No authority publishes a document checklist for an Italian business account, and none publishes a processing time. The law publishes what a provider must establish (Normattiva: D.Lgs. 231/2007, Article 18).
- The visura camerale: identity, registered office, directors
- An Italian VAT number for the tax-identifier side
- The natural person in whose ultimate interest the relationship is established
- Who must be filed as beneficial owner, in writing
- What the business will do, and why the account is wanted
Every obligation below traces to D.Lgs. 21 November 2007, no. 231, the decreto antiriciclaggio, in force since 29 December 2007 and applied whenever a continuing relationship opens, proportional to risk (Normattiva: Article 17).
| Obligation | Falls on | Article |
|---|---|---|
| Due diligence before a continuing relationship opens, proportional to risk | Provider | Art. 17 |
| Identify and verify the customer | Provider | Art. 18 |
| Identify and verify the beneficial owner | Provider | Art. 18 |
| Assess the purpose and nature of the relationship | Provider | Art. 18 |
| Monitor the relationship on an ongoing basis | Provider | Art. 18 |
| Supply and keep beneficial-ownership information, updated, for at least five years | The company | Art. 22 |
| Simplified checks for defined low-risk cases | Provider | Art. 23 |
| Enhanced checks for higher-risk cases, including relationships opened at a distance | Provider | Art. 24 |
| Refuse or discontinue where due diligence cannot be completed | Provider | Art. 42 |
The Italian IBAN
Whichever provider holds it, the account carries an Italian IBAN of 27 characters (Banca d'Italia: IBAN).
| Segment | Length | What it identifies |
|---|---|---|
| Country code | 2 letters | Italy ("IT") |
| CIN (control code) | 2 digits + 1 letter | a check code validating the rest |
| ABI (bank code) | 5 digits | the bank, payment institution or e-money institution |
| CAB (branch code) | 5 digits | the branch or operating unit |
| Account number | 12 digits | the individual account itself |
A provider reachable for a national credit transfer or direct debit must be reachable for the same operation from any other EU member state (EUR-Lex: Regulation (EU) No 260/2012, Articles 2, 3). Banca d'Italia is also rolling out an IBAN-to-beneficiary-name check, reaching non-euro EU countries from July 2027.
Problems we solve
No provider owes you an account
No provider is obliged in general to accept a request to open a payment account, and the conto di base, Italy's one statutory right to an account, is consumer-only (Banca d'Italia: the right to a current account).
The abstention duty is real
A provider that cannot complete the checks must refrain from opening or continuing the relationship (Normattiva: Article 42).
Remote onboarding raises the bar
Enhanced checks are triggered by relationships opened at a distance without secure electronic identification, and by links to high-risk areas (Normattiva: Article 24).
Silence after a refusal
The decree bars a provider from saying that a suspicious-transaction report has been or will be made (Art. 39, penalised at Art. 55(4)).
What we do about it
We build the file around these triggers before an application goes in. Nobody can promise an account, preparation is what we change.
Next step
Has a provider already turned you down?
Tell us what was asked for and we will read the profile behind the answer.
Tell us about your caseThe bill before Parliament
Where it stands
The Chamber of Deputies approved a unified text on 23 July 2025, sending it to the Senate as bill S. 1595. Not yet law.
What it would do
Insert Article 1857-bis into the Civil Code, obliging banks in Italy, Italian and foreign alike, to open an account on request, the AML exception preserved.
What it would not do
It would not reach payment institutions or e-money institutions. The duty to contract would bind banks only.
A horizontal timeline with three markers. 27 February 2025: Banca d'Italia's hearing to the Chamber's VI Commissione Finanze. 23 July 2025: the Chamber of Deputies approves the unified text, Article 1857-bis of the Civil Code. Senate bill S. 1595: status not confirmed, not yet law, marked pending. The hearing and the Chamber's approval are dated and confirmed. The bill's later progress through the Senate was not confirmed in this research and should be checked before relying on it.
Why work with us
From our practice. What surprises a foreign founder most often is timing. Identification generally happens before the relationship starts, not after, and paperwork gathered in answer to a request costs the time it takes to assemble. Preparing early beats chasing a provider.
Prepared by Marta De Luca, Regulatory and Licensing Lead, Milan office, after four years in the compliance function of an Italian payment institution.
Reviewed by Giulia Mancini, Head of Corporate Formation. Updated 13 September 2026.
Accuracy note: this page states the position under the instruments cited, as published at the update date, and is not legal advice. The pending Art. 1857-bis c.c. bill is described only as a bill before Parliament; its status should be re-checked before publication and at the next quarterly audit. Sources verified 11 September 2026.
Tell us about your case
Tell us the ownership profile and where the money comes from, and we will say which providers will take it.
Frequently Asked Questions
Do I need an Italian bank account to register a company in Italy?
No. For an ordinary S.r.l., the cash contribution on incorporation is paid to the management body named in the deed of incorporation, not into a pre-existing company bank account. The means of payment are stated in the deed itself.
What Italian law governs a bank's checks on a new business customer?
D.Lgs. 231/2007, the "decreto antiriciclaggio", implementing EU anti-money-laundering law and in force since 29 December 2007. It sets the customer due diligence chain every bank, payment institution and e-money institution in Italy must apply.
Does the same due-diligence law apply to a payment institution or an e-money institution?
Yes. Banks, payment institutions and e-money institutions are all listed as "soggetti obbligati" (obliged entities) under Article 3 of the same decree. Choosing a payment institution or e-money institution instead of a bank does not opt out of this law.
What does customer due diligence actually require a bank to do?
Identify the customer and the beneficial owner, verify both from reliable documents, obtain and assess information on the purpose and nature of the relationship, and monitor it on an ongoing basis. Identification may be postponed up to 30 days only in low-risk cases.
Why might a foreign-owned company face more scrutiny than an Italian-resident one?
Enhanced due diligence under Article 24 is specifically triggered by continuing relationships established at a distance without secure electronic identification, and by links to high-risk geographic areas, both closer to the profile of a remotely onboarded, foreign-owned company.
Can an Italian bank simply refuse to open a business account?
Yes. Banca d'Italia's own guidance confirms banks and payment service providers are not obliged in general to accept a request to open a payment account; the decision falls within their own contractual autonomy, subject to fairness and AML rules.
Does the Italian "basic account" (conto di base) help a company that has been refused?
No. The conto di base, the one statutory right to an account in Italy, is reserved to consumers and expressly excludes business, commercial, artisanal or professional use. It gives a company no fallback if a bank declines to open a business account.
Is this about to change?
A bill approved by the Chamber of Deputies on 23 July 2025 (now Senate bill S. 1595) would insert Art. 1857-bis into the Civil Code, obliging banks to open an account on request while preserving the AML exception. Its later status has not been confirmed; it is not yet law.
If a bank declines my application for AML reasons, will it tell me why?
Not necessarily. The tipping-off prohibition at Article 39 of D.Lgs. 231/2007 bars an obliged entity from disclosing to the customer that a suspicious-transaction report has been or will be made, or related information; breach is criminally sanctioned under Article 55(4).
Is a payment institution or e-money institution account a way to avoid these checks?
No. Payment institutions and e-money institutions are themselves "soggetti obbligati" under the identical D.Lgs. 231/2007 regime. Banca d'Italia's own hearing on the pending bill confirms they can meet some of the same needs, but "through different arrangements", not through lighter checks.
What is the minimum capital for the payment institution or e-money institution alternative?
EUR 125,000 for payment services 1 to 5, EUR 20,000 for money remittance only, or EUR 50,000 for payment initiation services only for a payment institution; not less than EUR 350,000 for an e-money institution. Full detail sits elsewhere on this site.
How many characters does an Italian IBAN have, and what do they mean?
27: the country code "IT", a 3-character control code (CIN), a 5-digit bank code (ABI), a 5-digit branch code (CAB) and a 12-digit account number. Together they identify a single Italian current account uniquely.
Can my Italian IBAN receive payments from anywhere in the EU?
Yes. Under the SEPA Regulation (EU) No 260/2012, a payee's payment service provider reachable for a national credit transfer or direct debit must also be reachable for the same operation from any other EU member state.