Open an Account in Luxembourg

Luxembourg is one of the leading financial centers in the world. For this reason, the service of opening a bank account in the Duchy is very popular. Individuals can register an account for convenient settlements in euros, to make purchases, pay current liabilities, receive salaries in the jurisdiction, etc. Legal entities also often wish to open an account in Luxembourg. This jurisdiction is very attractive to organizations that conduct business abroad. Whatever your reason for opening an account in Luxembourg, Lawtter Solutions offers you its services. 2

The cost of the service

1 500 EUR*

Term for opening a bank account

1-3 months

Support

Multilingual

Account opening type

No personal visit

Opening an account

General information

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

 

A bank account in Luxembourg is a sought-after service. It provides several important benefits, including:

1

Safety

Luxembourg has one of the most developed financial systems in the world. Here, they carefully monitor the safety of customer funds and ensure reliable protection.
2

Low commissions for services

The size and conditions of fees vary from bank to bank, but in general, they can be considered quite attractive.
3

Bonus programs

To attract customers, financial organizations offer various bonuses, loyalty programs, cashback, etc. Therefore, customers can receive additional benefits.
4

Remote account opening

You can apply while you are abroad.
5

Convenience

Many financial institutions in Luxembourg offer convenient online banking and mobile applications for customers.
6

Attractive tax legislation

Luxembourg has no income tax, and capital tax is 1%.