Business Bank Account in Luxembourg: Opening Guide

Published on October 4, 2025 and written by Cyril Jarnias

Luxembourg, a world-renowned financial center, offers a favorable environment for business creation and development. Opening a professional bank account is a crucial step for any company looking to establish itself in the Grand Duchy. This article will guide you through the various steps of the process, required documents, and the best banking options available.

Key Steps to Opening a Corporate Bank Account in Luxembourg

Opening a professional bank account in Luxembourg is an essential step for any business, whether newly created or already established. This step is not only mandatory for companies formed as LLCs or corporations but also offers numerous advantages for sole proprietors.

A professional bank account allows for clear separation of personal and business finances, thereby facilitating the company’s accounting and financial management. Additionally, it provides enhanced credibility with business partners and tax authorities.

In Luxembourg, banks offer a wide range of services tailored to the specific needs of businesses, such as international payment solutions, advanced cash management tools, and investment advisory services. These services can be particularly useful for companies with cross-border activities or those looking to expand internationally.

The Winning File: Documents Required for Account Opening

To open a corporate bank account in Luxembourg, you will need to provide a set of documents that vary slightly depending on your company’s legal form and the chosen bank. Here is a list of generally required documents:

• A copy of the company’s articles of association, as accepted during formation
• The company’s organizational chart indicating management members and shareholders
• A copy of the list of persons with signing authority and engagement rules
• For each natural person member of the board of directors, management, and shareholders: – A copy of the ID card or passport – Proof of address less than 3 months old (e.g., utility bill) – A curriculum vitae – Information on marital status and profession
• For corporate shareholders of the company: – The company’s articles of association – The list of beneficial owners – Annual accounts and consolidated accounts – A group organizational chart with shareholding links (for groups)

It is important to note that some banks may request additional documents depending on your company’s type of activity. For example, for companies operating in sectors considered high-risk, detailed information on fund origins and the nature of planned transactions may be required.

Additionally, if you are a foreign entrepreneur wishing to open an account in Luxembourg, you will likely need to provide additional documents such as a birth certificate extract or a non-resident certificate. It is advisable to prepare these documents in advance to avoid any delays in the account opening process.

Step by Step: The Procedure for Creating Your Professional Bank Account

Opening a corporate bank account in Luxembourg generally follows a multi-step process. Here is a detailed guide to help you navigate this procedure:

1. Choose the Bank That Fits Your Needs

Start by researching and comparing different banking offers available in Luxembourg. Consider fees, services offered, and the bank’s reputation in your industry sector.

2. Schedule an Appointment with a Banking Advisor

Once you’ve made your choice, contact the bank to schedule an appointment with an advisor specialized in professional accounts. Some banks allow starting the application online, while others require an in-person visit.

3. Prepare and Submit Your File

Gather all required documents mentioned previously. During your appointment, present your complete file to the banking advisor. Be prepared to answer detailed questions about your activity, financial projections, and your company’s structure.

4. Verification and Approval

The bank will conduct a thorough verification of your file and risk profile. This process can take from a few days to several weeks, depending on the complexity of your situation and the bank’s policies.

5. Deposit of Initial Capital

Once your application is approved, you will need to deposit the minimum share capital required for your type of company. For an LLC, for example, the minimum amount is €12,000. The bank will then issue a funds blocking certificate.

6. Account Activation

After receiving the funds release certificate issued by the notary during your company’s registration, the bank will activate your account. You will receive account details, including the IBAN number, as well as access cards and other necessary documentation.

It is important to note that the process may vary slightly from bank to bank. Some institutions offer simplified procedures for sole proprietors or small businesses, while others may have stricter requirements for companies operating in specific sectors.

The Best Luxembourgish Banks for Your Business

Luxembourg is home to many reputable banking institutions, each offering specific advantages for businesses. Here is an overview of the main banks and their strengths:

BGL BNP Paribas

BGL BNP Paribas is one of Luxembourg’s largest banks, offering a comprehensive range of banking services to businesses.

• Extensive international network, ideal for companies with cross-border activities
• Advanced digital solutions for online account management
• Expertise in financing startups and innovative SMEs

Banque Internationale à Luxembourg (BIL)

BIL is a historic Luxembourgish bank, known for its personalized approach.

• Customized offers for different business sectors
• Banking concierge service for large accounts
• Strong expertise in fintech and financial innovation

ING Luxembourg

ING Luxembourg is part of the Dutch ING group and stands out for its modern banking services.

• Simplified and fast account opening process
• Intuitive and efficient online banking platform
• Attractive offers for startups and scale-ups

Banque de Luxembourg

Banque de Luxembourg is renowned for its wealth management expertise and services to family businesses.

• Personalized support for entrepreneurs and their families
• Financing solutions adapted to different stages of business development
• Expertise in succession planning for family businesses

Banque Raiffeisen

A Luxembourgish cooperative bank, Raiffeisen is particularly appreciated by local SMEs.

• Strong local presence and deep knowledge of the Luxembourg market
• Fast decision-making process for credit applications
• Relationship approach favoring direct contact with advisors

It is crucial to choose a bank that best matches your company’s specific needs. Consider factors such as your company’s size, your industry sector, your international development plans, and your needs in terms of digital banking services.

Don’t hesitate to schedule appointments with several banks to compare their offers and the reception you receive. The quality of your relationship with your banking advisor can make a big difference in the daily management of your business finances.

Expert Tips for a Successful Account Opening

Drawing from my experience in assisting entrepreneurs with company creation abroad, I can offer you some valuable tips to optimize your chances of success when opening a professional bank account in Luxembourg:

1. Prepare a Solid Business Plan

Luxembourgish banks place great importance on the viability and credibility of your business project. Prepare a detailed business plan that highlights your business model, financial projections, and development strategy. This document will be a major asset in convincing the bank of your project’s relevance.

2. Anticipate Compliance Questions

As Luxembourg is an international financial center, banks are particularly vigilant regarding compliance and anti-money laundering. Be prepared to provide detailed explanations about the origin of your funds, your shareholder structure, and the nature of your activities, especially if your company operates in sectors considered sensitive.

3. Prioritize Transparency

Transparency is key to building a trusting relationship with your future bank. Don’t hesitate to communicate openly about all aspects of your activity, including any potential risks or challenges you anticipate. This proactive approach will be appreciated by banking advisors.

4. Consider Local Professional Assistance

Engaging a local expert, such as a business lawyer or a business creation advisor, can greatly facilitate your procedures. These professionals know the subtleties of the Luxembourg banking system and can help you prepare an impeccable file, thereby increasing your chances of success.

5. Be Patient and Persistent

Opening a professional bank account in Luxembourg can take time, especially for foreign companies or complex structures. Don’t be discouraged if your first application doesn’t succeed immediately. Request constructive feedback and be ready to adjust your file if necessary.

6. Leverage Potential Synergies

If your company operates in a sector where Luxembourg excels (such as fintech, investment funds, or business services), highlight potential synergies with the local ecosystem. Banks are generally more inclined to support projects that align with the country’s economic development strategy.

Conclusion: A Springboard for Your Success in Luxembourg

Opening a professional bank account in Luxembourg is a crucial step in the process of creating or expanding your business in this leading financial center. Although the process may seem complex at first, careful preparation and a clear understanding of requirements will allow you to navigate this procedure successfully.

Luxembourg offers a sophisticated banking environment, with world-renowned financial institutions providing a wide range of services tailored to the needs of modern businesses. Whether you’re an innovative startup, a growing SME, or a multinational seeking to establish a European presence, you will find banking partners in Luxembourg capable of supporting your ambitions.

Remember that opening a bank account is just one step in your entrepreneurial journey in Luxembourg. It is part of a broader strategy of establishment and development that requires careful planning and a deep understanding of the local economic and regulatory environment.