How to open a business bank account in Luxembourg?

As the most important private banking centre within the Eurozone and the second largest investment fund centre in the world, Luxembourg is the ideal place to start your business. For this, it is essential to open a commercial bank account in Luxembourg. If you need it, this article will give you some tips!

Why open a business bank account?

Before creating a company, the entrepreneur must open a bank account with a Luxembourg bank. The entrepreneur must make sure that he has the necessary funds for the incorporation of the company. The funds will be blocked until the incorporation of the company unless the entrepreneur wishes to create a Limited Liability Company (SARLS).

What do I get if I open a banking account in Luxembourg?

An International Bank Account Number (IBAN) is assigned to a Luxembourgian bank account, allowing easy money transfers between nations in the Single Euro Payment Area. Some accounts are free, however depending on the services you require, you may need to pay maintenance account fees each month.

Luxembourg’s central location means that most banks provide services and assistance in a number of languages. German, French, Luxembourgish, and English are all common languages, as well Italian and Portuguese.

To create a business bank account in Luxembourg, what do I need?

All business banks require the following documents from contractors as part of opening their business accounts:

  • A copy of the Articles of Incorporation as they will be accepted upon incorporation;
  •  The organizational chart of the company showing the members of the management body and shareholders;
  • A copy of the list of persons with signing authority and the rules of engagement provided;


For all-natural persons member of the board of directors, the management board and shareholders, the banks also request:

  • A copy of the identity card or passport
  • A proof of residence of less than 3 months such as an electricity bill
  • a CV
  • additional information on the marital status and profession of the person


For each legal entity, shareholder of the company, the banks ask for the following documents:

  • The articles of association of the company
  • The list of beneficial owners
  • Other documents often requested: annual accounts, consolidated accounts…


For groups, the banks ask for an organization chart including the holding links in number of shares and in percentage.

What is the standard procedure? Is it possible to create a business bank account online?

Most banks in Luxembourg enable you to create a bank account online, and some even allow you to do so from another country providing you have the required documentation. On the other hand, some banks may ask you to mail or produce documents in person when picking up your card. This is how the procedure works:

  1. Identify and print the papers that your bank requires.

  2. Send your papers by mail or schedule an appointment to drop them off at a nearby bank office.

  3. Wait for your confirmation, card, PIN, and other required paperwork to arrive in the mail.

  4. Register for internet banking and activate your account.

If all of that looks like too much work, you may also create an account with an online bank. Simply register online, submit your ID, complete the online verification, and here is it! However, keep in mind that not all online banks are made equal, and it’s a good idea to double-check that your bank is properly licensed before creating an account.

How to open an online Luxembourg banking account with Everest?

Everest is powered by SnapSwap International S.A., a fully licensed and regulated Electronic Money Institution in Luxembourg. SnapSwap holds a Principal Mastercard Membership that allows the issuing of credit and debit cards and processing the transactions. SnapSwap is fully licensed and regulated by the financial regulator in Luxembourg (CSSF), also a member of the ABBL and is SEPA homologated.

The online registration takes only a few minutes and the whole process is 100% digital. You will get a current account for your business expenses, a local IBAN, Mastercard debit or credit cards. For detailed steps please check the tutorial: /index.php/how-to-open-an-everest-account/index.html

If you have any questions, you can contact us via and our team will be pleased to assist you in the opening of your account.

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