Opening a bank account in Luxembourg, a strong file, a targeted introduction.
Opening a bank account in Luxembourg requires a complete KYC file and a justified activity. We prepare the file, explain the structure and substance, and introduce your company to partner banks. FSL prepares the file and introduces you to partner banks; account opening and banking services are the bank's decision and responsibility.
Bank account opening support consists of preparing the onboarding file of a company or director (KYC, source of funds, description of activity and substance) and introducing it to suitable institutions. The decision to open the account belongs to the bank.
Key takeaway
- No Luxembourg rule reserves account opening to residents: a refusal reflects each bank's own risk policy.
- A complete KYC file and justified activity are decisive.
- Substance and source of funds are scrutinised by banks.
- FSL prepares and introduces; the opening decision is the bank's.
Can a non-resident open a bank account in Luxembourg?
Yes. No Luxembourg rule reserves account opening to residents. The constraint is commercial: the bank assesses risk, the coherence of the activity and the traceability of funds before accepting the relationship. A complete, documented non-resident file succeeds; an incomplete one is refused, whatever the applicant's nationality.
Two profiles differ in practice. A non-resident opening an account for a Luxembourg company presents a corporate file: RCS extract, consolidated articles, register of beneficial owners, description of the activity. A non-resident opening a personal account presents a private file: identity, proof of address, source of wealth and the reason for the link to Luxembourg.
The reason weighs as much as the documents. A Luxembourg company whose directors, clients and suppliers are all abroad will have to explain what genuinely connects the activity to the Grand Duchy. This is where most non-resident files fail. It is handled upstream, by documenting substance in Luxembourg before approaching the bank. After a first refusal, the file carries an unfavourable history that the next institution will question.
Business bank accounts in Luxembourg: what the bank asks for
A Luxembourg bank applies the identification and due-diligence obligations of the amended law of 12 November 2004 on the fight against money laundering and terrorist financing. It must identify the company and its beneficial owners, understand the activity and verify the source of funds. These checks are not negotiable and explain the length of onboarding.
A business file is built around four questions the bank must be able to answer on its own after reading it: who really controls the company, what does it sell and to whom, where does the money entering the account come from, and what flows are expected in volume, currency and counterparty country. A file that leaves one of these open comes back to the applicant.
The bar varies by sector. International trading, crypto-assets, multi-jurisdictional shareholding and companies without local staff trigger enhanced due diligence. An operating company with a resident director, a lease and employees affiliated to the CCSS presents a profile banks process quickly.
How long does it take to open a bank account in Luxembourg?
Allow three to eight weeks between filing a complete application and the account going live, depending on the bank and the risk profile. An incomplete file frequently exceeds three months, because every missing document restarts a cycle of exchanges that goes back to the end of the compliance queue.
Lead time is decided at submission, by the quality of the file handed over. We assemble the file in the format the targeted institution expects, with source-of-funds evidence already gathered and an activity note that answers the compliance team's questions before they are asked.
One case deserves separating: the capital deposit account, opened before incorporation to receive the share capital and issue the notary with the blocking certificate. It follows a shorter procedure than an operating account and is handled during company formation, without waiting for RCS registration.
Can you open a Luxembourg bank account online?
Partly. Document collection and signature are digital at most institutions, but remote identification is regulated and the majority of Luxembourg banks still require at least one video identification session or a physical meeting for corporate files and for non-residents.
Neobanks and payment institutions offer fully online journeys with short lead times. The trade-off is scope: limited payment instruments, no lending, and acceptance by third parties that is sometimes weaker than a deposit-bank IBAN for receiving share capital or dealing with an administration.
The choice follows actual use. A consulting company collecting SEPA payments works well with a payment institution. A holding that receives dividends, enters an intragroup loan or evidences substance to the tax authorities is better served by a Luxembourg deposit bank, including for the strength of the file in the event of an audit.
Who this is for
- Newly incorporated Luxembourg companies
- Holdings, SOPARFIs and investment vehicles
- Foreign companies opening a Luxembourg account
- International directors and investors
What we do
- Preparation of the KYC file and source of funds
- Description of activity, structure and substance
- Bank targeting by profile and activity
- Introduction and onboarding support
- Articulation with accounting and compliance
Estimated timelines
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Preparation checklist
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Frequently asked questions
Can a non-resident open a bank account in Luxembourg?
How long does it take to open a business account?
Can a Luxembourg account be opened entirely online?
Does FSL open the account for me?
Why can opening take time?
Is substance in Luxembourg needed?
Do you support foreign companies?
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