Open an Account in Luxembourg
of the service
1 500 EUR*
a bank account
Although Luxembourg is a small country, it has over 130 banks. The body responsible for issuing licenses and regulating financial institutions is the Financial Security Supervisory Authority (CSSF).
Any individual who has reached the age of 18 can open a bank account in Luxembourg. This jurisdiction provides an opportunity to register bank accounts for foreign businesses – non-resident companies. It is also possible to open an offshore bank account in Luxembourg.
Financial organizations of the Duchy offer a huge number of services to non-residents. It is possible to get bank cards of Visa and MasterCard payment systems, open a credit account, issue checks, and use investment products. Banks may have requirements for minimum account balance, service fees, deposit fees, and commissions for money transfers.
Therefore, it is extremely important to familiarize yourself with the terms and conditions and choose the right bank. The main banks in Luxembourg that currently provide services are as follows:
- Deutsche Bank Luxembourg;
- CACEIS Bank;
- ING Luxembourg;
- BNP Paribas Fortis;
- Banque Internationale a
- Luxembourg SA (BIL);
- Novo Banco Luxembourg;
- Banque de Luxembourg.
Advantages of opening an account in Luxembourg
Low commissions for services
Remote account opening
Attractive tax legislation
List of documents for opening a bank account
For individuals, it includes the following papers:
- Identification document;
- Confirmation of residential address;
- Taxpayer identification number;
- Confirmation of the origin of funds;
- Resume (CV).
If a foreign company needs a Luxembourg bank account, the package of documents will be as follows:
- Company registration documents;
- Identity card of the director and shareholders;
- If a manager opens the account, you need to provide the manager’s identity card and a power of attorney issued by the director;
- Confirmation of the residential address of the director, shareholders, and manager (if any);
- Agreements with partners;
- Confirmation of the origin of funds