Bank account assistance in Luxembourg

A Luxembourg company usually needs a bank early, because the share capital is paid into an account that remains blocked for all transactions until the company is formed, and the bank’s blocking certificate goes to the notary. Guichet.lu recommends a bank established in Luxembourg and notes that opening the account is subject to know your customer (KYC) procedures. For owners who live abroad this is often the slowest step of the whole setup. In practice banks ask who the beneficial owners are, where the money comes from, what the company will do and which countries it will trade with. A structure with several layers of holding companies, or shareholders from many countries, takes longer to review.

Firms offering bank account assistance in Luxembourg

OLISTONE

Accounting firm · Boutique firm

Steinsel

  • Company formation
  • Accounting and bookkeeping
  • Tax compliance
  • +6 more

Languages: English · French

View profile of OLISTONE

32 more firms offering bank account assistance in Luxembourg

What to ask a firm that helps with the bank

Ask which banks the firm has introduced clients to recently and what those banks expected to see. Ask whether it prepares the file for you, such as the business plan, the group chart, proof of address and source of funds, and whether it checks the documents before they go to the bank. Find out whether a director has to meet the bank in person or can be identified remotely, and how long reviews have taken for clients like you. Ask what the fee covers if the bank declines and you apply elsewhere.

Firms on Accountanty

Fifty-six firms listed in Luxembourg help companies open a bank account, a group made up of 32 accounting firms and 24 corporate service providers. Forty-one are small. Forty-two of them work in English, 37 in French and 12 in German. Forty-five are in Luxembourg City, and Strassen and Senningerberg have two each. The rest of the setup is explained on company formation in Luxembourg.

Frequently asked questions

Why can opening a bank account in Luxembourg take time?

Banks review each new client's owners, source of funds and planned business before they accept the account. A clear file prepared in advance, with a group chart and supporting documents, usually shortens that review.

Can a firm open a Luxembourg bank account for me?

A firm can prepare the file, introduce you to banks and follow up, but the bank makes its own decision and has to identify the owners and directors itself. Ask whether a visit to Luxembourg is expected.

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General information, not legal or tax advice. Rules, rates and fees change: check them with the official sources linked on this page or with a qualified adviser before you act.