AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Italian banks will open accounts for a new SRL with Nigerian directors, but expect enhanced checks: the visura camerale, deed and statute, codice fiscale and partita IVA, identity documents for every director and beneficial owner, and evidence of where the capital came from. Documents issued in Nigeria need MFA authentication and Italian consular legalisation, and non-resident signatories may have to attend in person.
Why the account comes before, and after, incorporation
A new Italian SRL needs a bank account early. For an ordinary SRL, the capital to be paid in at incorporation (at least 25% when capital is €10,000 or more, according to iubenda's guide) is handled as the notary directs, and banks are often involved in that step. For an SRL semplificata, the capital is paid in cash in full to the company's administrative body rather than deposited as a condition of the deed. Either way, once the company is registered it needs a current account in its own name for invoices, tax payments through F24, salaries and suppliers.
Banks treat every new company as higher risk until they know it. When one or more directors or owners are Nigerian, and especially when money is expected to flow to or from Nigeria, expect the bank to ask more questions and take longer. That is not a judgement about you; it is how Italian and EU anti-money-laundering rules make banks assess customers and countries.
What banks usually ask for
About the company
- Visura camerale: the extract from the Registro delle imprese showing the company, its directors and its status.
- Atto costitutivo and statuto: the deed of incorporation and the statute.
- Codice fiscale and partita IVA of the company, and its PEC address (see why a PEC is required).
- Business description: what the company does, who its customers and suppliers are, and in which countries.
- Expected flows: rough monthly amounts in and out, and whether there will be payments to or from Nigeria.
About the people
- Directors and signatories: passport, codice fiscale and, for residents, the permesso di soggiorno or renewal receipt.
- Beneficial owners: the individuals who ultimately own or control the company, with the same identity documents.
- Proof of address for each, in Italy or abroad.
- Source of funds: where the capital and early working money came from, with evidence.
Where Nigerian founders get stuck
| Problem | What helps |
|---|---|
| Director lives in Nigeria and cannot attend | Ask whether the bank accepts remote identification or a notarial power of attorney; many traditional banks want each signatory in person at least once |
| Capital came from Nigeria | Show the chain: Nigerian bank statement, the outgoing transfer, the incoming credit in Italy, and the reason (savings, sale of property, a loan) |
| Old documents | NotaiOnline notes that certificates about facts that can change are valid for six months under DPR 445/2000; bring recent ones |
| Permit renewal pending | Bring the renewal receipt with the expired card and ask the bank to note it |
| Name spelt differently across documents | Fix the mismatch first; a one-letter difference can stop the file |
For the specific questions banks ask about money arriving from Nigeria, see when an Italian bank asks about source of funds.
Choosing a bank
Founders usually compare three kinds of provider: traditional banks with branches, which may take longer to onboard but offer credit lines and are familiar to suppliers and public bodies; online business accounts, which are quicker to open but may limit payments to certain countries or ask for more evidence for international transfers; and a mix of both. Before you apply, ask each one directly:
- Do you open accounts for companies whose directors or owners are non-EU citizens, and non-residents?
- Can the capital be paid in before incorporation, if we need that?
- What documents do you want, and must they be translated and legalised?
- Can we send and receive payments to and from Nigeria, and what checks apply?
- What are the monthly fees, card fees and charges for foreign transfers?
What to check first
- Every director and beneficial owner has a codice fiscale and a valid ID.
- Your Nigerian documents are legalised and translated.
- You can show where the capital came from, with statements.
- The company's description of its business is the same on the visura, the bank form and your website.
- You know whether you are forming an SRL semplificata or an ordinary SRL, since the capital step differs.
Where Pryme fits
An Italian bank account is still needed for the SRL's Italian obligations. Alongside it, a Pryme Business Account can hold the naira side of a business that trades with Nigeria, with the rate and fee shown before any conversion. Customers can also generate a verifiable statement through Pryme's partner VerifyDoc.ai, which anyone can check is genuine and unaltered, useful when an Italian bank asks for evidence of funds held in Nigeria. Naira deposits are held by a licensed Nigerian microfinance bank; outside Nigeria, Pryme works through regulated partners.
Questions people ask
Can a new SRL with a Nigerian director open a bank account in Italy?
Yes, but expect enhanced checks. Banks ask for the visura, deed and statute, IDs of directors and beneficial owners, and evidence of where the capital came from.
Do I need a bank account before forming an SRL?
It depends on the type and the notary's instructions. In an SRL semplificata the capital is paid in cash to the directors, while an ordinary SRL pays in at least 25% when capital is €10,000 or more.
Can a director in Nigeria open the account remotely?
Some providers accept remote identification or a notarial power of attorney; many traditional banks want each signatory in person at least once. Ask the bank first.
Why is the bank asking about money from Nigeria?
EU anti-money-laundering rules require banks to understand where funds come from. Bank statements showing the chain of transfers usually answer the question.
Sources
- iubenda: Costituzione SRL semplificata, come funziona e quanto costa (updated 25 Jul 2022) · accessed Oct 2026
- NotaiOnline: apostille and legalisation of documents (updated 24 Sep 2026) · accessed Oct 2026
- Embassy of Italy in Abuja: legalisation of documents · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.