Italy is undoubtedly a beautiful place to reside and settle in. It has a number of eye-catching tourist attractions, abundant resources and a large market for foreign investments. With years passing, more and more people are opting to change their country of residence to Italy for all the right reasons. If you are someone who is keen on shifting to Italy, this article is just for you as it lays out all the important things you need to keep in mind before making the move.
Your Guide to Settle in Italy in 2021
Italy is one of the most sorted places to settle and reside because of its warm welcoming nature. If you are planning on moving to Italy in 2021, there are some basic and important things you need to keep in mind before you make the shift. The most basic step before moving to another country is setting up a bank account in the respective country since a proper transaction system is the key to any further developments. The important things to keep in mind while setting up a bank account in Italy are:
1. Different Ways to Open A Bank Account in Italy
The different ways to open Italian Bank accounts for foreigners are- opening a traditional account at regional Banks, opening an account with Italian Post Office or opting for an online bank account. However, one important thing to keep in mind is, choosing the right and convenient way depends largely on the purpose and residency status. Check out the list of Italian Bank accounts for foreigners here. For those, it is necessary to be resident of Italy or else it might become difficult as the Italian Banks are not really keen on opening accounts for foreigners since the transaction might not be really profitable for them.
2. Documents to Keep Handy Before Moving to Italy in 2021
Before settling in Italy permanently you need to keep some documents handy which are also a compulsory requirement while opening a bank account. The documents which are very essential are your passport, tax number, proof of address and proof of employment. With all these documents it becomes quite easy to open Italian Bank accounts for foreigners.
3. Charges for Opening A Bank Account
The best thing is that there are no fees while opening Italian Bank accounts for foreigners. However, they might take some additional fees for maintenance of banks, money transfers or for the purpose of cash withdrawal.
4. Availability of International Banks
It is not only traditional or domestic banks which you need to choose while opting for opening a bank account before moving to Italy in 2021, Italy offers a wide variety of choices in terms of international banks to choose from according to your need and convenience.
5. Ways to Close A Bank Account
If you wish to close your Italian Bank accounts for foreigners for whatsoever reason, you need to review the contract carefully to find any additional fees that you would have to bear since these fees differ bank to bank. After that, in addition to present yourself in person, you also need to send a registered letter from the post office to the main branch where your account is supposed to be closed.
6. Process to Open A Bank Account Before Moving to Italy in 2021
If you don’t want to waste time and want to open a bank account in Italy before your arrival, you can start the process of opening the account through the Italian Consulate present in your jurisdiction. However, you need to remember this can only happen before applying for the entry visa.
In a Nutshell
Even though it is not easy to move to another country but with keeping certain steps in check, it becomes relatively easier and following the above steps would allow opening of a bank account in Italy a hassle-free process for you since it is the pivotal step before planning to reside in Italy permanently.