Opening A Business Bank Account

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In order to open a business/professional bank account for an individual, through the process of KYC (Know Your Customer), banks request for several information about the individual and the registered enterprise or cooperative. The evaluation of information and documents offered to the bank impacts on the eventual positive or negative response by the bank. To increase your chances of receiving a positive response, we have highlighted some points below.

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• Create a comprehensive professional portfolio/curriculum vitae.

• Create a comprehensive business plan showing the origins of your initial business/project capital as well as the projected annual income sources for the intended business/project.

• DO NOT Submit an incomplete file.

• Complete all forms offered by the banks with true and verifiable information about yourself and your business/project

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Required Documents

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In general, the non-exhaustive list of documents below are required by most banks in Luxembourg in view of opening a professional or business bank account for individuals, collectives or enterprises.

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• Personal identification and residential documents for all legal beneficiaries of the project such as board of directors (e.g., ID card/passport, certificate of resident, Social Security number, etc)

• Professional documents (e.g., CV/resume, portfolio, etc)

• Comprehensive business plan

• Business licence(s)

• Extract of the registered entity from the Luxembourg Business Registry, LBR.

• Extract from the Registre des Bénéficiaires Effectifs (for companies only).

• CCSS registration number

• VAT number

• Completed application forms from the bank

• Letter of motivation explaining why you want to open the account with this bank

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This page is continuously being update.