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AMERICANS IN ITALY

Americans in Italy: The best Italian banks and why fewer Americans are renouncing citizenship

Why are Americans holding off on renouncing their citizenship, and what are the best banking options for foreigners in Italy? Find out in our latest Americans in Italy newsletter.

Published: 27 February 2024 12:31 CET
Americans in Italy: The best Italian banks and why fewer Americans are renouncing citizenship
Why are fewer Americans renouncing citizenship? Photo by Joshua Hoehne on Unsplash

Welcome to our regular look at everything you need to know about life in Italy for The Local’s readers from the US. This newsletter is published monthly and you can receive it directly to your inbox before we publish by going to newsletter preferences in ‘My Account’ or following the instructions in the newsletter box below.

Some 3,260 Americans formally gave up their citizenships last year, according to the US government’s Federal Register website – a choice many of those living abroad make for tax reasons.

That’s actually a slight drop on 2022 figures, thought to be caused by increasing numbers of US citizens waiting until the government reduces its renunciation fee.

Following a 2020 legal challenge, the State Department announced last January it would bring down the charge for renouncing US citizenship from $2,350 to $450 – but hasn’t provided any updates since October.

“I find the length of time it’s taking them to enact the reduction in the fee, given that they announced it more than a year ago, deplorable,” said Liz Zitzow, a US national living in London.

Why are fewer American nationals renouncing their US citizenship?

If you move to Italy as an American, opening a bank account will be one of the very first things you’ll have to do, as you’ll struggle to pay bills and taxes or take out insurance with an overseas account (especially one outside the eurozone).

But a lack of online information in English and a confusing array of account options (with differing fees) means the choice can be a little overwhelming.

To give you a head start, we asked readers to share their advice on which bank to choose.

Intesa Sanpaolo was the top recommendation for traditional Italian banks: Laura, a US-Italian citizen living in Ascoli Piceno, Marche, praised Intesa Sanpaolo for their customer service, saying staff were “patient and understanding” following a bad experience with another bank.

Meanwhile Wise (formerly TransferWise) was by far the most highly recommended online-only bank, with one reader in Tuscany praising its “speedy transfers, good exchange rates, and prompt problem resolution”.

The verdict: What are the best banks for foreigners in Italy?

Unicredit, Italy

Customers leave a branch of Italy’s UniCredit bank in downtown Rome in February 2017. Photo by FILIPPO MONTEFORTE / AFP

Another popular digital banking option is the N26, though you may have heard rumours that the Berlin-based bank is having problems in Italy, or perhaps withdrawing from the country altogether.

Several readers have recently reported issues with N26 accounts registered in Italy. One told us his account was “closed for no reason. And the bank is not giving me my money.”

Though N26 is still active in Italy, readers were concerned after reading that the bank was placed under a “special order” by Italy’s central bank in March 2022.

N26 later said via a LinkedIn statement that a number of accounts were “wrongly closed” as the company was “developing, testing and calibrating” new measures to prevent financial crime.

So what exactly is going on and is it still an option for Italian residents? We looked at the issues in the below article:

Has digital bank N26 closed down in Italy?

Have your say: If you’d like to share your opinion or tell us about an experience you’ve had while living in Italy, please leave a comment below this article or get in touch by email.

And if you have any advice for other American readers who are considering moving to Italy, or questions of your own, you can add them to our ongoing survey here.

Thanks for reading and please get in touch with us by email if you have any feedback on this newsletter.

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AMERICANS IN ITALY

How to quickly get a US passport for a child born in Italy

What are the steps to apply for a baby's US passport from Italy? How long does it take? Here’s all the experience-based information and tips American parents in Italy should know before beginning the process.

Published: 13 May 2024 15:35 CEST
Updated: 18 May 2024 09:23 CEST
How to quickly get a US passport for a child born in Italy

You’ve left the United States and moved to Italy. Now, you’ve added a baby to this exciting new life. You’ll want to secure their US citizenship and passport straight away.

This article lays out the qualifications for a US passport and the steps to get one. Fortunately, the process is fairly simple, according to people who have done it.

Does your baby qualify for a US passport?

Your newborn qualifies for US citizenship and a US passport under the following conditions:

  •  They were born within wedlock to two US citizen parents.
  • They were born within wedlock and one of the parents is a US citizen who lived for at least five years in the United States, two of which were after age 14.
  • They were born out of wedlock to a US citizen mother who lived for at least five years in the United States, two of which were after age 14, and a non-citizen father.
  • They were born out of wedlock to a US citizen father who lived for at least five years in the United States, two of which were after age 14, and non-citizen mother, provided certain additional requirements are met.

READ ALSO: How to renew your American passport in Italy

When the parent who is a US citizen is the father and the baby is born out of wedlock, there are a few extra steps required.

You’ll attain a sworn statement from the father agreeing to give financial support until they are 18 years old and supply a written statement acknowledging paternity.

If your child does qualify for American citizenship, the next steps are pretty straightforward, although completing the required forms can be time-consuming.

What are the first steps when applying for a child’s US passport from Italy?

The first step is applying for a Consular Report of Birth abroad (CRBA), which documents that your child is a US citizen at birth. Any of the US Consular Agencies in Rome, Milan, Florence or Naples can accept applications for Consular Reports of Birth Abroad (CRBA) and US passports.

To begin, you’ll apply online. But remember, you’ll need original copies of any documents you upload; you’ll bring these to your in-person appointment at the consulate.

Documents you’ll need include:

  • Your child’s original Italy birth certificate with both parents’ names, along with two photocopies.
  • Your original marriage certificate, if married, plus one photocopy.
  • Your original divorce certificate, if divorced, plus one photocopy.
  • Valid original passport/identification document for each parent, along with two photocopies.
  • Proof of US citizenship, such as a passport, birth certificate, or Certificate of Naturalization, for the US parent(s), plus copies.
  • Proof of physical presence in the United States for the US parent(s), in the form of documents such as school records, university transcripts or employment records.

All foreign-language documents must be accompanied by a simple English translation that does not need to be certified.

In Italy, you can submit your CRBA application and pay the $100 processing fee online, following the specific instructions for the consulate where you want to schedule your in-person appointment.

READ ALSO: What to do if you lose your passport while travelling in Italy

You’ll then be contacted within five business days with a date and time for your interview. You’ll need to bring the originals and photocopies of all the documents listed above, as well as a completed DS-2029 form.

To apply for a US passport for your child at the same time as the CRBA appointment, you’ll need to bring a completed DS-11 (passport application) form and, if in Rome or Naples, a completed SS-5 (social security card application) form.

 You’ll need to bring original copies and photocopies of the following documents:

  •  One 2”x2” (5x5cm) passport picture for your child.
  • Identification for both parents.
  • A physical copy of the completed passport application form (DS-11).
  • Anything else your consulate tells you to bring (such as completed SS-5 form in Rome or Naples).

You’ll need to pay the $135 under-16s passport application fee via cash or card at the appointment.

Important considerations:

For the CRBA, the US parent(s) must report their physical presence in the United States, detailing each trip abroad. In other words, it’s crucial you don’t include time abroad in your list of days staying within the United States. If the dates are incorrect, the processing could be suspended until you correct the dates.

It’s very important for both listed parents to attend the appointment. If only one parent can attend, you’ll need to submit a notarised DS-3053 Statement of Consent from the absent parent. If you have sole legal custody of your child, you’ll need to bring proof, such as a court order.

Bring your child’s passport photo in a separate envelope (to not lose it) but don’t staple it to the passport application.

How long does it take?

Once your application and interview are complete, it takes around 15 working days for Italy’s US consulates to process a CRBA and first passport.

If you have questions, don’t be shy about contacting your consulate for clarification.

Congratulations on your multinational family!

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