Do you need when buying a property in Italy to open an account in an Italian bank ?

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31.05.2018

The first two payments ( security deposit and down payment of the price ) on the signing of the contract can be paid from your foreign account . Payment upon signing the final contract should occur or before signing the contract , or simultaneously with the signing of the contract. Payment in advance is not safe for the buyer. Payment simultaneously with registration of the transaction can be carried out only with the help of the Italian bank checks , it is desirable that they were guaranteed by the bank , to the name of seller , irrevocable , they are called in Italian “assegni circolari”.

If payment of the price you can  do all the same without opening an account in an Italian bank , for example by placing money in a deposit account of a notary , in the future to pay for current utility bills and taxes for your  real estate it would be better to have an account in an Italian bank . Therefore, to all our clients buying property here , we recommend to open a account in an Italian bank.

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