Transfer of money from UK to Italy for non-resident
 

Hi All. PLEASE help me.
I am looking to buy a property here in Italy with my Italian partner.
I DONT have an Italian bank account.
I need to transfer approx 100,000 Euros over here as my share of the property.
How do I do that without an Italian bank account,and whilst still a non-resident?
My fellas bank adviser told him it cannot go directly into his bank account.Any ideas would be great. :thumbsup:

Re: Transfer of money from UK to Italy for non-resident
 

Do you not have an estate agent or a notaio? They will both normally have a client account you can use. Otherwise I would suggest something like a draft.

Btw, I understand why it would be a bad idea to put it straight into his account - he would probably have it held up while it was investigated for money laundering and fraud etc. They have recently strengthened the laws on relatively small amounts being put into accounts. Bills amounting to more than €2k at the post office now have to be accompanied by your Codice fiscale before they can accept the payment, it is also to do with the anti-terrorism laws in all of Europe.

Re: Transfer of money from UK to Italy for non-resident
 

I have an Italian bank account and am willing to take on 100.000 euro and even more until you need it :rofl:

What about a Post Office account?
Any reason why you can't open an Italian bank account?

Re: Transfer of money from UK to Italy for non-resident
 

Could you not come over, get yourself a codice fiscale and open an account and then transfer the money?

I will do it for 10% you can put it into my account: I will go to my bank tell them what is happening and see if they will allow it.

PS. you may not see me again on this forum after the transaction..But hay oh 100,000 euros better off :rofl:
you my see me on the spanish forum as Sig. Poshio :thumbsup:

Re: Transfer of money from UK to Italy for non-resident
 

Hi Durobird,
things going okay on the house hunting mission??? You should be able to get a codice fiscale and open an account as a non-resident. Banco di Napoli certainly do it. As for moving money, up to 50K you are fairly safe with regards to the bank charging for the transfer, over 50K it will be investigated by the Italian govt and maybe the UK govt also (all to do with money laundering etc) and there will certainly be a charge. I did mine through a money exchanger in UK (contact number available if you PM me), he converted it to euro and deposited into my Italian account, and it didn't cost me a cent in bank charges
Hope this helps
Kenny