Arranging Your Italian VIES Bank Guarantee Yourself (Self-Arrangement)

If you've chosen to arrange the €50,000 Italian VIES bank guarantee yourself, here are your options, what to do, and what information your bank or insurer will need.

Your self-arrangement options

There are several ways to arrange the guarantee yourself. Choose the one that works best for your situation.

Option 1 — Through your local bank via our Italian banking partner (BPSO)

The most common bank route is to instruct your local bank to contact our Italian banking partner, Banca Popolare di Sondrio (BPSO). BPSO will provide your bank with the official templates for both the guarantee and the counter-guarantee.

• Not all banks qualify — yours needs to meet a minimum credit rating. Contact us and we'll check for you.
• The two banks agree on the fee and timeline directly.
• All communication should happen bank-to-bank — please do not contact BPSO directly.

Option 2 — Switch to an approved bank

If your current bank is not eligible, you can approach one of the pre-approved banks in your country. These banks already have established relationships with BPSO and can process the guarantee faster. Contact us for the approved bank list for your country.

Option 3 — Through a partner bank (correspondent banking) 

Ask your bank if they already work with an Italian partner bank. If so, your bank can route the counter-guarantee through that Italian bank. Taxually can help facilitate communication between your bank and the relevant Italian partner if needed.

Option 4 — Via an Italian insurance company

A surety bond from an Italian insurer is often the fastest and simplest route, as it doesn't rely on banks communicating with each other. The insurer issues the bond directly and you pay a one-time premium.

If you’d prefer not to deal with this yourself, this is exactly what Taxually can coordinate on your behalf through our insurance partner. That route removes the administrative burden entirely — see the related article below for details.

If you wish to arrange this yourself, you can approach an Italian insurer directly, such as Allianz Italy.

Please note that all required parties must sign the guarantee document. This includes you (the client), the issuing insurer, and your fiscal representative. See the section below on what happens after we receive the document.

Option 5 — Directly with the Italian bank (last resort)

If none of the above options work for you, you can arrange the guarantee directly with BPSO. However, this route requires:

• Opening an Italian bank account.
• Depositing the full €50,000 upfront as collateral.

This ties up €50,000 of your money for 36 months, so we generally don't recommend it unless no other option works.

Information your bank or insurer will need

Your bank or insurer will need specific details about the fiscal representative and the Italian Tax Authority to prepare the guarantee correctly.

Once your guarantee is ready

When you choose self-arrangement, we'll send you an email with clear instructions on which documents to send us once your guarantee is ready, and how. Please keep this email handy and follow the instructions carefully when the time comes, so we can move quickly.

Here's what happens next:

• We review your guarantee document to make sure it meets the Tax Authority's requirements.
• We submit the guarantee package to the Tax Authority by certified email (PEC), along with your Italian VAT registration or transfer application. 
• Once the Tax Authority accepts the package:

• For new registrations: your Italian VAT number is issued and activated as VIES-valid in one step.

• For transfers (if your VAT number is not VIES-valid): we submit your VIES application, which is typically validated immediately.

• For transfers (if your VAT number is VIES-valid): no further action is needed — your transfer is complete.
  

• We notify you as soon as your Italian VAT number is fully active.
  

Summary / Next steps

• Choose the self-arrangement route that best fits your situation (bank via BPSO, approved bank, correspondent bank, Italian insurer, or — as a last resort — direct with BPSO).
• Share the fiscal representative and Tax Authority details with your bank or insurer.
• Watch for our email with instructions on which documents to send us once your guarantee is ready — we will then submit it to the Tax Authority on your behalf.

Related articles

• Italian VAT Bank Guarantee — What You Need to Know
• How Taxually Supports You with the Italian VIES Bank Guarantee