The 52-year-old actor has completed the screenplay and will produce Akil via his Green Moon shingle, based in Malaga, Spain, Variety reported.
Akil takes its title from the name of an African boy who reaches Spain in a small boat. Fleeing from the police, he takes shelter in the house of an American woman.
"This is a love story between two completely different people -- in age, attitude, religion, wealth -- who end up being essential to each other," Antonio Banderas said. The boy still has to be cast, he added.
Antonio Banderas will fully-finance Akil. "My country, Spain, is in tremendous financial crisis. It's very difficult to obtain funds to make a movie. I have conceived Akil so as not to depend on third-party funding," Antonio Banderas said.
The film's shoot dates will depend on Antonio Banderas' other commitments in 2013. He has earlier directed Crazy in Alabama and Summer Rain.
Banderas will produce and star in the sci-fier Automata, helmed by Spain's Gabe Ibanez. Green Moon produces with Avi Lerner's Millennium Films. Automata rolls April 29 at Nu Image's Nu Boyana Film Studios in Bulgaria.
Banderas may also take a role in Mike Medavoy-produced The 33. Helmed by Mexico's Patricia Riggen, it is inspired by the true story of the 33 trapped Chilean miners.