The action film, which marks the third collaboration between Banderas and AMBI Media Group, will be directed by Aleksandr Boguslavskiy, according to The Hollywood Reporter.
They previously collaborated on the Andrea Bocelli biopic "The Music of Silence" and thriller "Black Butterfly". Both films are currently in postproduction.
Being shot in Italy, Russia and Georgia, "Beyond the Edge" sees Banderas' character forced to come to the aid of his son, a master thief with plans to rob a casino.
Andrea Iervolino and Monika Bacardi are producing the film with Russian producer Evgeniy Melentyev, while Italian director Francesco Cinquemani is co-directing the movie.
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