Who can sign up for N26 Business in Italy?

This article is for N26 Business accounts opened in Italy.

N26 Business (new tab) accounts are reserved exclusively for:

• Freelancers enrolled in a professional register or order (such as architects, lawyers, pharmacists, and nurses)
• Other freelancers, i.e. the self-employed and individual entrepreneurs with a VAT number (such as designers, photographers, electricians, or owners of B&Bs and holiday homes with VAT numbers).
• Sole proprietorships registered in the Business Register of the Chamber of Commerce

However, it isn't possible to sign up for an N26 Business in the name of a partnership (e.g., GPs and LPs), capital company (e.g., LLCs and INCs), or another entity, including subjects with legal status and liability. 

The VAT number is an 11-digit numeric code, which is used to uniquely identify the owner of a given professional activity, such as the personal tax code. Under Italian law, anyone who carries out a continuous activity for more than 30 days, in fact, has the obligation to register for VAT.

This can be of two types: ordinary or flat-rate tax regime, depending on the revenues and expenses incurred for the activity. The opening of the VAT number takes place by submitting a specific form to the Revenue Agency:

• Model AA9/12 (new tab) for individuals;
• Model AA7/10 (new tab) for companies.

The form must be submitted or sent online via the Tax Agency portal (new tab) within 30 days of starting the professional activity. As soon as the opening application is approved and completed, you'll receive the Certificate of attribution of the VAT number containing the relevant code assigned to you by post and in the reserved area of ​​the Tax Agency portal. (new tab)

The ATECO code is a short, simple code used to classify a business and to give a risk level to that company. This is according to the ATECO 2007 classification (new tab) that's currently in effect. The code must be entered at the time of the request to open the VAT number, to communicate to the Tax Agency the type of activity that'll be carried out. It'll also be possible to add different ATECO codes with the opening of additional VAT numbers. You can find the ATECO code on the Certificate of attribution of the VAT number or on the Chamber of Commerce registration in the case of sole proprietorships.