Opening a Business Bank Account in Luxembourg

If you’ve ever tried opening a business bank account in Luxembourg, you’ll know it’s not a simple tick-box exercise. Luxembourg is one of Europe’s most respected financial centres — home to thousands of funds, multinational holdings, and global fintech firms — yet getting a Luxembourg business bank account approved can test even the most seasoned entrepreneurs.

For non-resident founders, the challenge grows. Without a local footprint — such as a physical office, tax registration, or active contracts in the country — banks are hesitant to open accounts. They’ll demand detailed explanations of your business activity, ownership structure, and transaction flows.

And if your business falls into a high-risk category — think crypto, iGaming, forex, or cross-border financial services — prepare for even more due diligence. Banks will likely ask for AML policies, proof of licensing, and audited accounts to validate your compliance setup. It’s not personal; it’s policy. Luxembourg’s reputation as a clean, credible banking hub depends on it.

In this guide, we’ll walk you through everything you need to know to open a business bank account in Luxembourg — from choosing the right bank and preparing your KYC documents, to navigating notary procedures, capital deposits, timelines, and costs. 

Whether you’re setting up a new company or expanding an existing one, this step-by-step breakdown will help you avoid the pitfalls and get your account approved faster.

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

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

 Yes — non-residents can open a business bank account in Luxembourg, but it’s far from an automatic process. Luxembourg’s banks welcome international entrepreneurs and foreign-owned companies, yet they operate under one of the strictest risk-based onboarding frameworks in Europe.

For non-resident founders, the journey starts with incorporating a local entity — usually a Sàrl, Sàrl-S, or S.A. — and establishing a Luxembourg business address or using a professional registered-office service. Banks rarely open accounts for foreign entities that lack a local registration number in the Registre de Commerce et des Sociétés (RCS). 

Because Luxembourg’s banking sector prioritises transparency, non-resident clients must provide notarised and apostilled corporate documents from their home jurisdiction — including the certificate of incorporation, shareholder registry, and identification for directors and UBOs. 

Banks also expect tangible proof of economic activity such as contracts, invoices, suppliers, or EU clients, along with local tax registration (VAT or corporate number). Demonstrating economic substance — through a management agreement, local staff, or authorised representatives, greatly improves your chances of approval.

While some institutions permit remote onboarding, most still require a short video or in-person meeting to verify identity and assess business intent. If your company exists only on paper, with no actual activity or local footprint, the bank will likely delay or reject the application until additional proof of purpose is provided.

Step-by-Step: How to Open a Business Bank Account in Luxembourg

Opening a business bank account in Luxembourg is a structured, multi-stage process that ties directly to company formation and compliance. 

Whether you’re setting up a Luxembourg Sàrl, Sàrl-S, or S.A., each step must be completed in sequence — from pre-screening your file to activating your operational account. Here’s the full breakdown

Step 1: Choose Your Legal Form & Determine Share Capital

Your first decision shapes everything. Pick between a Sàrl (standard limited liability company), Sàrl-S (simplified small business form), or S.A. (public limited company).

Minimum capital requirements:

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

Banks will open a blocked capital account based on your draft statutes. Once the notary confirms the capital deposit, your company can be incorporated. Official guidance – guichet.lu

Binderr Advantage:

• We help you select the right structure based on your goals (trading, holding, or fintech).
• Connect you directly with vetted company-formation agents and notaries in Luxembourg to handle incorporation, RCS registration, and documentation end-to-end.

Step 2: Check If You Need a Business Permit

Many commercial, craft, or industrial activities in Luxembourg require an autorisation d’établissement before you can trade. You can apply through the House of Entrepreneurship or Guichet.lu, and banks often request a copy during KYC.

If your business involves financial, crypto, or regulated services, the bank will expect proof of regulatory registration or CSSF authorisation.

Binderr Advantage:

• We identify whether your activity requires a business permit or CSSF registration.
• Prepare your permit application with supporting documents, saving weeks of back-and-forth.
• Ensure your banking file already includes this proof to smooth compliance checks.

Step 3: Shortlist Banks

Don’t shotgun applications. Instead, target 1–2 banks that actually work with your profile:

• Spuerkeess (BCEE): State-owned, great for SMEs and startups
• BIL (Banque Internationale à Luxembourg): Dedicated corporate onboarding
• BGL BNP Paribas: Strong international network
• ING Luxembourg: Clear tariffs and SME packages
• Banque Raiffeisen: Cooperative model, solid for local businesses
• Banque de Luxembourg: Excellent for holding and investment structures

Confirm whether they support SEPA Instant, multi-currency options, and remote onboarding. Many will require a meeting (in-person or video).

Binderr Advantage:

• We match you with banks that work with your business type, risk profile, jurisdiction, and sector.
• Pre-introduce your file directly to relationship managers, not generic forms.
• Save 30–50% of the normal onboarding time by skipping misaligned banks.

Step 4: Prepare the Pre-Onboarding Pack

Once you’ve shortlisted a bank, prepare your documentation for pre-screening. Banks typically request:

• KYC/KYB documents: company statutes, registry extracts, and ownership chart
• UBO identification: IDs and proof of residence for each owner
• Business plan: clearly outlining activities, markets, and transaction flows
• Source of funds / source of wealth: e.g. previous income, contracts, investment documents
• FATCA & CRS forms: tax self-certification for each UBO
• Any licences or permits: if you’re in a regulated sector

Be ready for sanctions screening and PEP checks during compliance screening. 

Binderr Advantage:

• We assemble a bank-standard compliance file, formatted to each bank’s internal KYC template.
• Run PEP/sanctions screenings in advance to catch red flags early.
• Provide translation, notarisation, and apostille support where required.
• Submit your pack directly via the correct onboarding channel — no missing pieces.

Step 5: Open the Blocked Capital Account

Once your file passes initial screening, the bank creates a temporary capital deposit account. 

You’ll transfer the required share capital, and the bank will issue a blocking certificate (certificat de dépôt) for your notary. The funds stay frozen until incorporation is complete.

Binderr Advantage:

• Coordinate directly with both the bank and the notary to ensure the certificate is issued on time.
• Avoid re-submission delays caused by incomplete capital evidence.

Step 6: Incorporate with the Notary

With the blocking certificate in hand, your notary finalises company incorporation and registers it with the Registre de Commerce et des Sociétés (RCS). After incorporation, the notary issues a de-blocking certificate, allowing the bank to convert your account into a live operational account.

Binderr Advantage:

• We manage notary scheduling, submission, and communication and ensure your notary receives all bank-compliant documents in advance.
• Deliver both the RCS certificate and de-blocking letter to the bank immediately after registration.

Step 7: Register with RCS & File RBE

All Luxembourg entities must:

• Register with the RCS (Registre de Commerce et des Sociétés)
• Declare beneficial ownership in the RBE (Registre des Bénéficiaires Effectifs)

The RBE ensures transparency and compliance with EU AML rules. Access rules were updated in 2025 after ECJ rulings, but filing remains mandatory. Official RCS/RBE procedures – guichet.lu

Binderr Advantage:

• Handle your RCS filing and RBE submission in parallel with banking.
• Update beneficial-ownership data whenever structures change.
• Provide compliant RBE extracts for your bank file and auditors.

Step 8: Activate E-Banking and Cash Management

Once your Luxembourg business account is active:

• Request IBAN and online banking credentials
• Activate MultiLine if you use multiple banks
• Set up SEPA transfers, direct debits, and FX modules
• Apply for corporate cards and configure user permissions

You’re now fully operational — ready to send and receive payments across the EU SEPA network.

Cost of Opening a Business Bank Account in Luxembourg

Opening a business bank account in Luxembourg isn’t free — but it’s a worthwhile investment in credibility, compliance, and global access. Costs vary depending on whether you’re forming a new Luxembourg company or opening an account for an existing foreign entity.

Below is a realistic cost overview, covering everything from company setup to bank account activation and compliance maintenance.

Typical First-Year Costs (Estimated Range)

Average total first-year setup: €3,000 – €5,000 (excluding share capital).

Documents Required to Open a Business Bank Account in Luxembourg

When opening a business bank account in Luxembourg, the quality of your documentation determines how smoothly and quickly your application is approved. Every bank must clearly understand who owns your company, how it operates, and where its funds originate before activating your Luxembourg business bank account.

To pass compliance without delays, you’ll need to prepare two sets of documents — one for the company and one for the individuals behind it.

Company Documents

Banks need complete visibility into your corporate structure and activity. Typical requirements include:

• Articles of Association or Incorporation Certificate
• RCS extract (Registre de Commerce et des Sociétés) once the company is registered
• Business plan or projected turnover, especially for newly incorporated companies
• NACE code, industry classification, and expected transaction volumes
• List of countries of operation and key suppliers or clients
• Shareholding chart showing all shareholders and UBOs (Ultimate Beneficial Owners)
• RBE extract (Registre des Bénéficiaires Effectifs) after incorporation
• Evidence of economic substance, such as a local office, representative, or tax registration

Individual Documents

Every director, shareholder, and authorised signatory must be identified and verified. Expect to provide:

• Valid ID or passport for each director and UBO
• Proof of residence (utility bill or tenancy agreement less than 3 months old)
• Personal details — full name, date of birth, address, and specimen signature
• Source of funds and source of wealth documentation
• FATCA and CRS self-certification forms (for tax compliance)

High-Risk Banking in Luxembourg

Luxembourg has one of Europe’s most sophisticated financial ecosystems — but that also means it’s one of the toughest places for high-risk businesses to open a bank account. Whether you operate in crypto, iGaming, forex, fintech, payment processing, or offshore consulting, your application will face enhanced due diligence (EDD) under Luxembourg’s strict AML and CSSF frameworks.

Banks in Luxembourg are risk-averse by design. They must verify not only who owns and controls the business, but also how money flows in and out of it. High-risk companies are not automatically excluded — they’re just expected to provide greater transparency, regulated status, and a robust compliance framework that proves the business is legitimate and well-governed.

To successfully open a business bank account in Luxembourg as a high-risk company, you’ll typically need to demonstrate:

• Regulatory registration or licensing, such as CSSF or foreign-equivalent authorisation (for crypto exchanges, EMIs, or payment institutions).
• Detailed AML/CFT policy documentation, showing customer verification, transaction monitoring, and risk assessment procedures.
• Proof of capital and source of funds, supported by bank statements, investment records, or shareholder declarations.
• Audited accounts or financial projections that evidence sustainable operations and liquidity.
• Transaction-flow mapping, explaining counterparties, jurisdictions, and payment corridors.
• Professional compliance personnel, or at minimum, a designated AML officer or compliance provider in Luxembourg.

Most high-risk applications undergo enhanced due diligence — meaning longer review times, additional requests for information, and possible in-person meetings with bank compliance officers.

Timelines can range from four to twelve weeks, depending on the complexity of your structure and the strength of your documentation.

Top Banks in Luxembourg for Business Accounts

When it comes to opening a business bank account in Luxembourg, choosing the right institution makes all the difference. Luxembourg’s banking ecosystem includes a mix of state-backed retail banks, international financial institutions, and private banks that cater to both local SMEs and global corporations.

Here are some of the best-performing and most reliable options.

1. Banque et Caisse d’Épargne de l’État (Spuerkeess / BCEE)

Spuerkeess is Luxembourg’s largest domestic bank, state-owned and highly trusted among both residents and foreign investors. It’s particularly well-suited for small to medium-sized enterprises (SMEs), local subsidiaries, and new incorporations requiring a blocked capital account.

Why choose Spuerkeess:

• Offers comprehensive business current accounts, corporate cards, and treasury services.
• Known for strong KYC discipline and fast issuance of blocking certificates for incorporation.
• Ideal for resident or locally managed companies that meet substance requirements.
• Highly rated for stability and integration with SEPA and SWIFT networks.

Considerations: Spuerkeess is cautious with non-resident or high-risk companies (crypto, forex, gaming). These applicants may face additional scrutiny or rejection if documentation isn’t airtight.

2. Banque Internationale à Luxembourg (BIL)

Founded in 1856, BIL is one of the oldest and most reputable financial institutions in Luxembourg. It’s known for combining traditional corporate banking with modern digital services, offering a pragmatic balance for growing international firms.

Why choose BIL:

• Strong corporate and SME focus with dedicated relationship managers.
• Suitable for non-resident founders with clear business models and proper documentation.
• Efficient blocked capital deposit services for incorporations.
• Offers multi-currency accounts, cash management tools, and investment advisory.

Considerations: BIL applies strict onboarding criteria and may request in-person meetings for certain international structures. However, it remains one of the most approachable major banks for legitimate cross-border companies.

3. BGL BNP Paribas

Part of the global BNP Paribas Group, BGL BNP Paribas is ideal for international companies, holding structures, and cross-border businesses seeking scale. It combines deep international experience with Luxembourg’s regulatory precision, making it a strong choice for multinational operations.

Why choose BGL BNP Paribas:

• Excellent for multi-jurisdictional or EU-based trading companies.
• Offers multi-currency business accounts, FX desks, and wealth management.
• Preferred by companies with foreign ownership that need a reputable EU banking presence.
• Has corporate relationship managers fluent in multiple languages (FR/EN/DE/IT).

Considerations: The bank can be slower in onboarding non-EU entities or complex structures, especially without local substance or audited statements.

4. ING Luxembourg

ING Luxembourg offers modern, transparent, and cost-effective business banking. It’s part of the ING Group, known for digital efficiency, making it a great option for startups, SMEs, and mid-sized firms that value online-first services.

Why choose ING Luxembourg:

• Clear and transparent fee structure with accessible business packages.
• Smooth online banking interface for SEPA, SWIFT, and payroll management.
• Trusted for remote-friendly onboarding for low- to medium-risk companies.
• Offers solid SME loans, overdrafts, and FX services once the company has trading history.

Considerations: Less suitable for complex holding or high-risk entities. ING tends to focus on active trading companies with simple ownership and clear turnover patterns.

5. Banque Raiffeisen

Banque Raiffeisen is Luxembourg’s leading cooperative bank, known for its community focus and support for smaller businesses and local entrepreneurs. While not an international giant, it offers solid corporate banking and personal service.

Why choose Banque Raiffeisen:

• Approachable, relationship-driven onboarding for SMEs and micro-entreprises.
• Competitive pricing for business current accounts and credit lines.
• Efficient for resident directors or locally managed firms.
• Trusted by local service providers, construction, and trade businesses.

Considerations: Limited appetite for non-resident or high-risk structures. Best suited for domestic operations or entities with a Luxembourg physical presence.

Bottom Line

Opening a business bank account in Luxembourg is one of the smartest strategic moves you can make — but also one of the most complex if you’re not prepared. Luxembourg’s financial system is world-class, but with that prestige comes rigorous compliance, multi-layered due diligence, and slow-moving bureaucracy for anyone unfamiliar with the process.

Foreign founders, especially those running non-resident or high-risk businesses (crypto, fintech, iGaming, forex), face extra layers of verification — proof of funds, beneficial ownership checks, substance requirements, and enhanced AML documentation.

Even legitimate, low-risk entrepreneurs often find their applications delayed or declined simply because their KYC packs aren’t formatted correctly or they’ve chosen the wrong bank for their profile.

That’s why preparation is everything. The difference between approval and rejection often comes down to documentation precision, choice of bank, and local coordination — not the size of your business.

The Challenges Most Founders Face

• Choosing the wrong bank that doesn’t accept non-resident or high-risk clients.
• Submitting incomplete or misformatted KYC/KYB documents that trigger compliance reviews.
• Lack of a Luxembourg RCS registration or local address, which banks require for operational accounts.
• Confusion over blocked capital deposit procedures and obtaining the certificat de dépôt for the notary.
• Delays due to missing FATCA/CRS declarations or unclear source-of-funds evidence
• No dedicated contact or relationship manager to escalate the file

How Binderr Solves It

• Bank Match Guarantee: We connect you only with Luxembourg banks and EMIs that fit your profile and jurisdiction — no blind submissions.
• Document Perfection: Every KYC, KYB, FATCA, CRS, and UBO form is prepared and pre-screened by compliance experts before submission.
• End-to-End Coordination: From company formation and blocked capital deposit to bank activation and RCS filing, Binderr manages every step.
• Local Presence: Work with our vetted formation agents and notaries for fast incorporation and substance compliance.
• High-Risk Expertise: Crypto, fintech, forex, and iGaming companies are onboarded through partner banks and EMIs familiar with enhanced due diligence.
• Faster Approvals: Direct introductions to relationship managers mean your file lands where it matters — cutting timelines by up to 50%.

Binderr isn’t just another business-setup platform — it’s your corporate concierge for Luxembourg. We handle the banking maze, the compliance paperwork, and the cross-border complexity — so you can focus on building your business, not battling bureaucracy.