Why is my bank asking for a Certificate of Incumbency for my company and how do I get one in Italy?
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A certificate of incumbency (incumbency certificate) is a legal document issued by a corporation or a limited liability company (LLC), specifying who owns what positions. Thus, it has a list of the officers, present directors, and key stakeholders. Moreover, the certificate of incumbency includes signatures samples of the parties involved. A bank will require the document when you open an account or initiate a major transaction or contract. This is to verify the identity of individuals entering legally binding contracts on behalf of the company. Thus, a certificate of incumbency authorizes the signatories. You can get one from the Italian trade registry if you are in Italy.