Opening a Bank Account for Your Luxembourg Company
A Luxembourg company needs a bank account to operate. It pays tax and payroll, receives customer payments and shows the tax authorities and your counterparties that the company is a real business. For a company with foreign owners or directors, this is often the slowest step of the whole set-up.
Luxembourg banks screen new business clients carefully. A foreign shareholder, a foreign director or a multi-layer ownership chain triggers more questions, not fewer. This page explains what Luxembourg banks look for, which options exist and how to prepare an application that holds up.
No adviser can guarantee that a bank will accept a client. What we can do is help you present a complete, consistent and credible file.
Why a Luxembourg account matters
Tax and payroll. Luxembourg tax payments, payroll providers and many Luxembourg payers work most smoothly with a Luxembourg IBAN. A non-Luxembourg IBAN can be used within SEPA, but some counterparties and platforms create friction with it.
Substance. For holding, financing and IP structures, a Luxembourg bank account in the name of the company supports the case that the company is genuinely run from Luxembourg.
Credibility. Luxembourg customers, suppliers and public bodies expect to pay a Luxembourg company at a Luxembourg bank.
Your options
| Option | Typical profile | Points to consider |
|---|---|---|
| Established Luxembourg banks (for example BGL BNP Paribas, BIL, Spuerkeess, ING Luxembourg) | Operating companies, holdings and groups that need a full banking relationship | Most thorough onboarding. A foreign element in the ownership makes acceptance harder, and a Luxembourg-resident director or clear Luxembourg activity helps |
| Private and specialist Luxembourg banks | Holding, financing and wealth structures with larger balances | Often higher minimum balances and fees, and detailed source-of-funds questions. Confirm the bank’s appetite for your structure before applying |
| Non-Luxembourg bank or payment institution | Companies that mainly trade internationally | Can serve as a second account. Check whether the provider is a licensed bank or an e-money institution, because deposit protection and safeguarding rules differ |
Many international owners combine a main Luxembourg account with a second account elsewhere for redundancy.
What Luxembourg banks ask for
Banks apply the Luxembourg anti-money-laundering rules and their own risk policies. For a company with foreign ownership, expect to provide:
About the company
- Recent Luxembourg Trade and Companies Register (RCS) extract and the deed of incorporation with articles of association
- Shareholder register, and the registers of every company in the chain up to the ultimate parent
- Ultimate beneficial owner (UBO) declaration and a structure chart down to the natural persons, matching the Luxembourg register of beneficial owners (RBE)
- Proof of the registered address and, if you have one, the office lease
About the people
- Passports and proof of address for managers or directors and UBOs
- Powers of attorney for anyone else who will sign
- Certified or apostilled copies of foreign corporate documents where requested
About the business
- A short description of what the company does and why it is in Luxembourg
- Expected incoming and outgoing payments, with countries and volumes
- Early contracts or invoices, and a website that matches the description
- Where a bank asks for one, a reference letter from your current bank
What makes an application stronger
A clear commercial rationale. The bank wants to understand why a company owned abroad is in Luxembourg and what money will flow through it.
Consistent documents. Address, activity description and UBO details should be identical across every document. Most follow-up questions arise from inconsistencies.
Substance. Luxembourg-resident management, a real office and real activity make a file easier to approve, and they also support your tax position.
A simple chain of ownership. Many layers or entities in high-risk jurisdictions lead to extra checks.
Preparation of the people. Managers or directors and UBOs should be reachable and able to explain the business.
How we help
- Pre-screening. We review your structure, countries and activity and tell you which banks are realistic.
- Document preparation. We help you collect, certify and align the documents.
- Introduction and follow-up. We prepare the application, answer the bank’s questions with you and, where a meeting in person is required, arrange a local representative.
- After opening. We help with access, signing authorities and the link with your accounting and tax filings.
We work with the bank’s rules, not around them. Acceptance is always the bank’s decision, and timelines depend on the bank and on how complete the file is.
Frequently asked questions
Can a non-resident open an account for a Luxembourg company?
Yes, it is possible, but acceptance is not automatic. Luxembourg banks look at the whole picture: owners, directors, activity, countries and expected flows.
Do I need a Luxembourg-resident director?
Not by law for the company itself in every case. In practice a Luxembourg-resident director can make banking easier and also supports the tax position of the company.
Do I have to visit the bank in person?
Policies differ per bank and per client profile. Some steps may require a meeting, and documents from abroad may need to be certified.
Can I use a foreign IBAN for my Luxembourg company?
Technically yes, within SEPA. Some counterparties, payroll providers and platforms prefer a Luxembourg IBAN.
How long does it take?
It depends on the bank and on the completeness of your file. Complex ownership structures take longer.
Is my money protected?
Deposits at licensed banks in Luxembourg are covered by the Luxembourg deposit guarantee scheme, up to €100,000 per depositor per bank. E-money institutions are regulated differently.
Speak to us
Tell us about your company, your owners and where your customers are. We will tell you which banking route is realistic and what to prepare.
This page is general information, not financial, legal or tax advice. Bank policies change, and each bank decides on its own criteria. Eligibility rules, fees and deposit protection should be confirmed directly with the bank.