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
Services
The cost of the service
Term for opening a bank account
Support
Account opening type
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:
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.Low commissions for services
The size and conditions of fees vary from bank to bank, but in general, they can be considered quite attractive.Bonus programs
To attract customers, financial organizations offer various bonuses, loyalty programs, cashback, etc. Therefore, customers can receive additional benefits.Remote account opening
You can apply while you are abroad.Convenience
Many financial institutions in Luxembourg offer convenient online banking and mobile applications for customers.Attractive tax legislation
Luxembourg has no income tax, and capital tax is 1%.Documents
List of documents for opening a bank account
To open a bank account in Luxembourg, you need to prepare a package of documents.
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
Stages of opening an account
Services provided by Lawtter Solutions
Lawtter Solutions offers the services of opening a bank account in Luxembourg for foreign companies and individuals. The company’s specialists have extensive experience in this area. We provide account openings within a short time span. The algorithm is as follows:
- Consultation and assistance in choosing a bank
- Preparation of documents for registration
- Submitting the application
- Passing verification
- Obtaining the necessary access to the account and banking details
Lawtter Solutions offers complete legal accompaniment procedures for opening an account in Luxembourg. During your initial consultation, we will be happy to answer all your questions. Contact us today!
+38 093 177 52 70 
+1 484 457 89 11 
+44 745 819 79 87 Important: Lawtter Solutions does not provide services to citizens and residents of the Russian Federation.