Opening a Business Bank Account in Luxembourg

Luxembourg is one of Europe’s most respected financial centres, known for its political stability, AAA credit rating, and business‑friendly regulatory environment. As a core EU member state, it offers direct access to the European market, SEPA payments, and a highly developed financial ecosystem supporting funds, fintech, holding companies, and cross‑border trade. These strengths make Luxembourg business banking particularly attractive for international companies seeking credibility and long‑term stability.

Opening a business bank account in Luxembourg, however, is not always straightforward, especially for non‑resident founders and foreign‑registered companies. Luxembourg banks operate under strict AML and KYC regulations, often applying enhanced due diligence for overseas directors, non‑EU shareholders, and businesses operating in higher‑risk sectors such as crypto, fintech, or cross‑border services.

Choosing the wrong bank or applying without a clear strategy can lead to long delays, repeated document requests, or outright rejection. Each Luxembourg bank and EMI has a different risk appetite, onboarding process, and acceptance criteria. Matching your business model, ownership structure, and risk profile to the right Luxembourg business account provider is critical to saving time and avoiding unnecessary compliance friction.

This guide breaks down everything you need to know about how to open a business bank account in Luxembourg. It covers eligibility for residents and non‑residents, required documents, typical costs, onboarding timelines, traditional banks versus EMIs, and how Binderr Marketplace simplifies Luxembourg business banking by helping founders find and compare the right providers faster.

Can a Non‑Resident Open a Business Bank Account in Luxembourg?

Yes, non‑residents can open a business bank account in Luxembourg, but eligibility depends heavily on the founder’s residency, nationality, company structure, and risk profile. Luxembourg business banking is highly regulated, and banks apply a strict, risk‑based approach when onboarding non‑resident founders and foreign‑owned companies.

For EU founders, opening a business bank account in Luxembourg is generally more achievable, particularly if the company is incorporated in Luxembourg or has clear EU economic substance. EU passport holders benefit from regulatory alignment and often face fewer barriers during AML and KYC checks. However, this does not guarantee approval, as banks still assess the business model, transaction flows, and source of funds in detail.

For non‑EU founders, opening a Luxembourg business bank account is possible but significantly more challenging. Non‑EU directors and shareholders are subject to enhanced due diligence, additional source‑of‑wealth checks, and longer onboarding timelines. In many cases, traditional Luxembourg banks require stronger local substance, existing EU operations, or higher minimum balances before approving non‑EU applicants.

The distinction between resident and non‑resident directors is also critical. Companies with Luxembourg‑resident directors or signatories typically experience smoother onboarding, as banks perceive lower compliance risk. Fully non‑resident boards, especially those based outside the EU, often face stricter scrutiny and higher rejection rates when applying for a business bank account in Luxembourg.

Company jurisdiction plays an equally important role. Luxembourg‑incorporated companies—such as SARL, SA, or SOPARFI structures—are generally prioritised by local banks, particularly when they demonstrate real economic activity, employees, or operational substance in Luxembourg. In contrast, foreign companies opening a business bank account in Luxembourg often struggle with traditional banks and may be required to justify why Luxembourg banking is necessary for their operations.

In practice, EMIs are often a more realistic option than banks for non‑resident founders, foreign companies, and cross‑border business models. EU‑regulated EMIs typically offer faster onboarding (often 5–15 business days), remote account opening, and a higher tolerance for international ownership structures. While EMIs are not banks, they provide fully functional EUR IBANs, SEPA access, and multi‑currency business accounts suitable for most international operations.

At a high level, eligibility to open a business bank account in Luxembourg depends on several core factors: a transparent business model, clear ownership and UBO structure, well‑documented source of funds and wealth, realistic transaction volumes, and choosing the right bank or EMI that aligns with your risk profile. Working with the correct provider from the outset dramatically improves approval chances and reduces delays.

Incorporation & Business Bank Account Setup in Luxembourg

When setting up a business bank account in Luxembourg, incorporation and banking go hand-in-hand. You can’t open an operational account until your company legally exists and you can’t finalise incorporation until your share capital has been deposited in a Luxembourg bank. 

It’s a precise two-stage flow that defines how business banking works in the country.

Before your notary can sign the company’s articles, you’ll first need to open a blocked capital account. This is a temporary account held in your future company’s name, where the minimum share capital is deposited and frozen until registration is complete.

The bank then issues a blocking certificate (certificat de dépôt), which confirms that the funds are secured. Your notary will require this certificate to proceed with incorporation, it’s the cornerstone of forming a compliant entity in Luxembourg.

Typical minimum capital requirements:

• Sàrl: €12,000 (fully paid in before incorporation)
• Sàrl-S: €1–€12,000 (progressive contribution permitted)
• S.A.: €30,000 (at least 25 % paid up front)

Once your notary receives the certificate, the company can be incorporated and entered into the Registre de Commerce et des Sociétés (RCS). At that point, the notary issues a de-blocking certificate, which authorises the bank to release the frozen capital and convert the temporary account into a fully operational Luxembourg business account. 

You’ll then register beneficial ownership details in the RBE, activate your online banking, and obtain your official LU-IBAN. The smoother your file, the faster this process goes. Banks and notaries move quickly when documentation is clean, but even one missing KYC form or unverified UBO can delay your incorporation by weeks.

From that moment, you can start trading, issue invoices, and move funds under a Luxembourg business bank account that’s recognised across the EU. You’ll have access to SEPA and SWIFT transfers, multi-currency facilities, and the stability of one of Europe’s most reputable financial systems.

Read More: Company Formation in Luxembourg

Documents Required to Open a Business Bank Account in Luxembourg

Opening a business bank account in Luxembourg requires thorough documentation due to the country’s strict AML, KYC, and international compliance standards. Luxembourg banks and EMIs place strong emphasis on transparency, ownership clarity, and source‑of‑funds verification. Well‑prepared documentation not only improves approval chances but can significantly reduce onboarding timelines and avoid repeated information requests.

For non‑resident founders and foreign companies, document quality is especially important. Clear, consistent paperwork helps banks and EMIs assess risk faster, understand transaction flows, and confirm the commercial rationale for opening a Luxembourg business bank account.

Personal Documents

• Valid passport or national ID of directors and shareholders
• Proof of residential address (utility bill or bank statement)
• CV or professional background of directors and UBOs
• Source of funds declaration explaining how capital was acquired

Company Documents (Luxembourg‑specific)

• Certificate of incorporation
• Articles of association
• Extrait RCS (Luxembourg Trade Register extract)
• Shareholder register and UBO documentation
• Business plan outlining activities and expected transaction flows
• Source of funds and source of wealth explanation for the company

Business Banking Options in Luxembourg

Luxembourg offers two main routes for opening a business bank account: traditional banks and international Electronic Money Institutions (EMIs). While Luxembourg banks provide strong prestige and long‑term stability, they are often slow, highly selective, and difficult for non‑resident founders or foreign companies. In contrast, EMIs have become the preferred option for modern Luxembourg business banking, particularly for cross‑border, digital‑first, and high‑growth companies.

International EMIs – Easiest & Fastest Option

For most non‑resident founders, foreign‑registered companies, and international business models, EMIs are the most realistic way to open a business account linked to Luxembourg or the wider EU. EU‑regulated EMIs typically offer remote onboarding, faster approval timelines of around 5–15 business days, and greater flexibility towards ownership structures and higher‑risk activities. While EMIs are not banks, they provide EUR IBANs, SEPA access, and multi‑currency business accounts suitable for day‑to‑day operations.

Equals Money

Equals Money is a well-established EMI offering multi-currency business accounts, international payments, and FX risk management for companies operating across borders. It supports EUR IBANs, SEPA payments, and competitive exchange rates, making it a popular choice for businesses seeking a flexible alternative to traditional Luxembourg banks. Onboarding is typically faster than banks and can often be completed remotely.

Best for: SMEs, trading companies, and international businesses looking for a reliable multi-currency business account in Luxembourg with strong FX capabilities and straightforward onboarding.

3S Money

3S Money is a specialist EMI focused on international companies, marketplaces, and businesses with complex ownership or transaction flows. It is particularly well known for working with non-resident founders who struggle to open a business bank account in Luxembourg through traditional banks. 3S Money provides dedicated EUR IBANs, personalised compliance support, and a higher tolerance for complex structures.

Best for: Non-resident founders, foreign companies, marketplaces, and businesses with complex UBO structures or higher transaction volumes.

Fyorin

Fyorin is built for cross-border trade and international commerce, offering transparent pricing and predictable fees. It is well suited for companies that regularly pay overseas suppliers or receive international payments, with a strong focus on clarity around transaction costs and account management.

Best for: Import/export businesses, logistics companies, and international traders needing clear pricing and efficient cross-border payments linked to Luxembourg business banking.

Moneybase

Moneybase is a regulated European EMI providing digital-first business accounts, SEPA payments, and modern banking features. It appeals to startups and internationally mobile founders who want a clean, app-based experience while maintaining access to EU banking infrastructure compatible with Luxembourg operations.

Best for: Startups, tech companies, and founders seeking a modern, digital Luxembourg business account with remote onboarding.

Bankera

Bankera offers multi-currency business accounts with strong SEPA and international payment functionality. It is frequently used by fintech, e-commerce, and platform businesses that require scalable accounts, API-friendly services, and broader financial tools beyond basic payments.

Best for: Fintech, e-commerce, SaaS, and platform businesses needing scalable EU business banking and higher transaction flexibility.

iBanFirst

iBanFirst specialises in international payments and FX services for European businesses with frequent cross-border activity. It combines dedicated account management with advanced currency tools, making it attractive for companies where FX exposure and payment efficiency are critical.

Best for: Companies with regular international payments, exporters, and EU-based businesses prioritising FX management and professional account support.

Traditional Banks in Luxembourg – Slow & Selective

Traditional Luxembourg banks are generally best suited for established companies with real local substance, Luxembourg‑resident directors or authorised signatories, and clear, low‑risk business models. These institutions prioritise long‑term relationships, balance‑sheet strength, and regulatory certainty, which makes onboarding significantly more selective compared to EMIs. As a result, opening a traditional business bank account in Luxembourg typically involves extensive compliance reviews, detailed business plans, and enhanced source‑of‑funds and source‑of‑wealth checks.

Onboarding timelines with Luxembourg banks usually range from 3 to 8+ weeks, and in some cases longer for non‑resident founders or foreign‑owned companies. Many banks require in‑person meetings, higher minimum balances, and a demonstrated economic rationale for banking in Luxembourg. Businesses operating in higher‑risk sectors—such as crypto, fintech, iGaming, marketplaces, or online platforms, are often declined or asked to demonstrate significant local substance before being considered.

Below are some of the most commonly approached traditional banks in Luxembourg for business banking:

BGL BNP Paribas

BGL BNP Paribas is one of the largest and most established banks in Luxembourg, offering comprehensive corporate and commercial banking services. As part of the BNP Paribas Group, it provides strong international connectivity while maintaining deep expertise in Luxembourg business banking. The bank applies strict AML and KYC standards and typically prioritises companies with a genuine operational presence in Luxembourg.

Key features:

• EUR business accounts with full SEPA access
• Corporate lending and treasury services
• Cash management and liquidity solutions
• Support for holding companies and group structures
• Strong reputation with regulators and counterparties

Best for: Established Luxembourg companies, SOPARFI and holding structures, and low-risk operating businesses with Luxembourg-resident management and local substance.

Banque Internationale à Luxembourg (BIL)

Banque Internationale à Luxembourg is one of the country’s oldest and most recognised domestic banks, offering business and corporate banking solutions tailored to long-term clients. BIL focuses heavily on relationship banking and expects clear economic ties to Luxembourg, along with transparent ownership and stable transaction activity.

Key features:

• EUR business accounts and SEPA payments
• Dedicated relationship managers
• Corporate financing and credit facilities
• Support for family offices and private business structures
• Strong local market expertise

Best for: Medium to large Luxembourg businesses, family offices, and companies with an existing operational or employment presence in Luxembourg.

ING Luxembourg

ING Luxembourg provides corporate banking services to well-structured companies with clear operational activity and transparent financial flows. The bank applies conservative risk policies and is selective when onboarding non-resident founders or foreign-owned companies, particularly in regulated or higher-risk sectors.

Key features:

• Business current accounts with SEPA access
• Digital banking tools for payments and reporting
• Corporate cash management services
• Integration with broader ING EU banking network
• Strong compliance and risk controls

Best for: Low-risk operating companies with transparent cash flows, established EU operations, and straightforward ownership structures.

Société Générale Luxembourg

Société Générale Luxembourg primarily serves corporate, institutional, and fund-related clients, offering advanced banking solutions for complex and regulated structures. Onboarding is highly selective and involves in-depth compliance reviews, making it unsuitable for early-stage startups or higher-risk business models.

Key features:

• Corporate and institutional banking services
• Advanced treasury and cash management
• Support for funds and regulated entities
• Cross-border group banking solutions
• High compliance and governance standards

Best for: Larger corporates, regulated entities, funds, and complex group structures with strong compliance frameworks and established revenues.

While a traditional Luxembourg business bank account offers prestige, long‑term stability, and access to advanced corporate banking services, it is rarely the fastest route for international founders. In practice, many non‑resident entrepreneurs and foreign companies begin with an EMI to operate quickly and later transition to a traditional Luxembourg bank once they have built transaction history, revenues, and demonstrable local economic substance.

How Much Does It Cost to Open a Business Bank Account in Luxembourg?

The cost of opening a business bank account in Luxembourg varies depending on whether you choose a traditional bank or an EMI. Traditional Luxembourg banks tend to be more expensive due to higher onboarding fees, minimum balance requirements, and ongoing account charges. In contrast, EMIs usually offer lower setup costs, clearer pricing, and more transparent fee structures, making them a cost‑effective option for many international and non‑resident founders.

Cost Breakdown Table

How Long Does It Take to Open a Business Bank Account in Luxembourg?

The time required to open a business bank account in Luxembourg depends on several factors, including the company’s risk profile, ownership structure, residency of directors and UBOs, and whether you apply to a traditional bank or an EMI. Luxembourg business banking is compliance‑driven, so timelines can vary significantly based on preparation quality and provider choice.

Low‑risk Luxembourg company - For low‑risk companies incorporated in Luxembourg with local substance, resident directors, and straightforward activities, traditional banks typically take 3–6 weeks to complete onboarding. These cases benefit from simpler compliance reviews and clearer economic rationale for Luxembourg banking.

Non‑resident founders and UBOs - When directors or ultimate beneficial owners are non‑resident, onboarding timelines usually extend to 6–10+ weeks with traditional Luxembourg banks. Additional AML, KYC, and source‑of‑wealth checks are required, and banks may request supplementary documentation or interviews before approval.

High‑risk business models - Businesses operating in higher‑risk sectors, such as crypto‑related services, fintech, marketplaces, iGaming, or cross‑border platforms, often face significantly longer timelines with banks, ranging from 8–12+ weeks, or outright rejection. In these cases, EMIs are usually the more realistic and faster option.

Complex ownership structures - Companies with multiple shareholders, layered holding structures, trusts, or non‑EU UBOs typically experience extended onboarding timelines due to enhanced due diligence. Approval with traditional banks can take 10–12+ weeks, depending on transparency and documentation quality.

EMI alternatives - EU‑regulated EMIs offer the fastest route to opening a Luxembourg‑compatible business account. Most EMIs complete onboarding within 5–15 business days, often with fully remote KYC processes. This makes EMIs particularly attractive for non‑resident founders, foreign companies, and businesses that need to operate quickly while maintaining access to EUR IBANs and SEPA payments.

Choosing the right provider from the outset and submitting complete, well‑structured documentation can dramatically reduce delays and improve approval outcomes when opening a business bank account in Luxembourg.

How to Open a Business Bank Account in Spain

Opening a business bank account in Spain is a structured process that requires preparation, clarity, and choosing the right banking partner from the outset. Whether you are a resident or non‑resident founder, following these steps carefully will significantly improve approval chances and reduce delays when opening a Spanish business account.

Step 1: Assess Your Business Risk Profile

Before applying to any bank or EMI, it is essential to clearly assess your business risk profile. When opening a business bank account in Spain, providers evaluate several core factors that determine approval likelihood and onboarding speed:

Key factors Spanish banks and EMIs assess include:

• Industry and business activity (low-risk vs high-risk sectors)
• Expected transaction volumes and payment flows
• Customer and supplier geography (Spain, EU, or global)
• Ownership structure and UBO transparency
• Residency status of directors and shareholders

Low-risk businesses, such as local service companies, consultancies, or EU-focused trading companies with Spanish substance, generally find it easier to open a Spanish business account. In contrast, non-resident founders, cross-border operations, online platforms, and industries such as crypto, fintech, marketplaces, or gaming are categorised as higher risk and face deeper scrutiny.

At this stage, founders should realistically assess whether a traditional Spanish bank or an international EMI is the better fit. Understanding your true risk profile early helps avoid unnecessary rejections and wasted applications when opening a business bank account in Spain.

Step 2: Choose the Right Bank or EMI in Spain

Choosing the right provider is one of the most critical decisions when opening a business bank account in Spain. Not all Spanish banks or EMIs serve the same business profiles, and applying to the wrong provider often results in delays or outright rejection.

Traditional Spanish banks are best suited for:

• Companies with a registered office and real operations in Spain
• Spanish or EU-resident directors and shareholders
• Low-risk industries with predictable cash flows
• Long-term operating businesses requiring local credibility

International EMIs are often a better option for:

• Non-resident founders and overseas shareholders
• Companies registered outside Spain
• Digital, SaaS, e-commerce, and cross-border businesses
• Founders seeking faster onboarding and remote setup

Matching your business profile to the right provider significantly increases success rates when opening a Spanish business account.

Step 3: Prepare Compliant Documentation

Preparing compliant documentation is one of the most important and time-sensitive stages of opening a business bank account in Spain. Banks and EMIs conduct detailed reviews to ensure full AML and regulatory compliance.

Documentation is typically reviewed across three areas:

• Corporate documents (incorporation, articles, registry extracts)
• Ownership and UBO structure (shareholding charts, control)
• Source of funds and business activity explanations

Founders should ensure all documents are accurate, up to date, and internally consistent. For non-resident founders, Spanish banks may also require notarised, apostilled, and translated documents. Missing, unclear, or contradictory information is one of the most common reasons applications to open a Spanish business account are delayed or rejected.

Step 4: Complete KYC and Onboarding

Once documentation is submitted, the provider will initiate formal KYC and onboarding checks. This stage is especially critical when opening a business bank account in Spain as a non-resident or for higher-risk business models.

KYC and onboarding may include:

• Compliance questionnaires about business activity
• Interviews or calls with the bank or EMI compliance team
• Follow-up questions on transaction flows and counterparties
• Enhanced due diligence for non-EU or high-risk cases

Prompt, clear, and consistent responses during this phase significantly improve approval chances and help keep Spanish business account timelines on track.

Step 5: Receive Your IBAN and Activate the Account

After successful approval, you will receive your EUR IBAN and gain access to your Spanish business account or EU business account through an EMI.

Once the account is live, founders can:

• Activate online and mobile banking access
• Set user roles, permissions, and transaction limits
• Connect accounting software and payment gateways
• Start invoicing clients and paying suppliers in EUR

This final step allows the business to operate fully within Spain or across the EU, marking the successful completion of opening a business bank account in Spain.

How to Improve Approval Chances When Opening a Business Bank Account in Luxembourg

Opening a business bank account in Luxembourg is highly selective, especially for non-resident founders and foreign-owned companies. Luxembourg banks and EMIs apply a risk-based approach, meaning preparation quality often matters as much as the business itself. Following best practices can significantly increase approval rates and reduce onboarding delays in Luxembourg business banking.

Present a clear and well-defined business model - Clearly explain what your company does, how it generates revenue, and why Luxembourg business banking is required. Vague descriptions, overly broad activities, or unrealistic projections are among the most common reasons for rejection when opening a business bank account in Luxembourg.

Maintain a clean and transparent ownership structure - Luxembourg banks strongly prefer simple, traceable shareholding structures. Clearly identify all shareholders and ultimate beneficial owners (UBOs), avoid unnecessary layers, and ensure ownership documentation is consistent across all filings.

Provide a strong source of funds and source of wealth explanation - One of the most critical approval factors is demonstrating where capital comes from. Banks expect documented, legitimate sources of funds and wealth, especially for non-EU founders and high-risk sectors. Clear explanations reduce enhanced due diligence and speed up approvals.

Choose a jurisdiction-appropriate bank or EMI - Not all Luxembourg banks onboard non-resident founders, foreign companies, or higher-risk business models. Applying to the wrong provider almost guarantees delays or rejection. Selecting a bank or EMI aligned with your risk profile is essential for successful Luxembourg business banking.

Submit a professional and compliance-ready application - Consistent documentation, structured business plans, and prompt responses to compliance queries signal lower risk to banks and EMIs. A professionally prepared application significantly improves approval outcomes when opening a business bank account in Luxembourg.

What Is Binderr Marketplace

Binderr Marketplace is a bank‑matching and corporate concierge platform designed to simplify complex business banking decisions across Europe and beyond. Instead of applying blindly to multiple banks or EMIs, Binderr analyses your business model, ownership structure, jurisdiction, and risk profile to match you with the most suitable Luxembourg banks and EMIs.

Unlike traditional comparison sites, Binderr works with vetted and pre‑screened banking partners, ensuring that every provider listed has a proven onboarding track record for specific company types, including non‑resident founders, foreign companies, and higher‑risk business models. This significantly improves approval success rates when opening a business bank account in Luxembourg.

A key advantage of Binderr Marketplace is its one‑KYC approach. Founders complete a single, secure KYC and compliance profile, which can then be reused to apply to multiple Luxembourg banks and EMIs. This eliminates repetitive paperwork, reduces onboarding friction, and shortens the overall time required to open a compliant Luxembourg business bank account.

Binderr also emphasises transparency and clarity. Users can compare Luxembourg business banking options side by side based on onboarding cost, timelines, monthly fees, minimum balance requirements, and risk appetite. Combined with human‑led guidance and application tracking in one dashboard, Binderr acts as a practical execution partner, not just a directory throughout the entire banking journey.

Bottom Line

Luxembourg remains one of Europe’s most prestigious and reliable jurisdictions for business banking, offering strong international credibility, EU market access, and a highly regulated financial environment. However, opening a business bank account in Luxembourg is selective, compliance‑driven, and often challenging for non‑resident founders, foreign companies, and higher‑risk business models.

The fastest and smartest way to open a compliant business bank account in Luxembourg is to choose the right bank or EMI from the outset. By using Binderr Marketplace, founders can avoid unnecessary rejections, reduce onboarding timelines, and compare trusted Luxembourg banks and EMIs based on real‑world eligibility, cost, and approval criteria.

Find and compare top banks and EMIs in Luxembourg and open a business account today.

FAQs: Business Banking in Luxembourg