Opening bank account in Luxembourg

Law&Trust Company offers prompt opening of accounts in banks all over the world for clients. Luxembourg is a state with developing financial system, and the level of data protection there is often compared with Swiss banks, so a lot of our clients are tending to cooperate with the financial institutions of this country.

Which bank in Luxembourg to select for opening bank account for non-residents?

Banque Internationale a Luxembourg SA (BIL)

It was known in the 19th century, and its personnel includes Russian-speaking employees, which simplifies the interaction. The possibility of double taxation was eliminated, and visiting the country is not required for account opening in bank of Luxembourg, but it is desirable in case the client wants to accelerate the process.

1. The opening takes 10 days, and detailed description of the activity is required.
2. The Bank provides a wide range of services, such as: cards, crediting, checks, letters of credit, investment products (full set of banking services).
3. Standard package of documents is necessary to open bank account in Luxembourg.

Novo Banco Luxembourg

It is the bank, which shareholder is the state fund. It accepts the documents translated into English with detailed description of the work activity for consideration. The term for opening the account is 21 working days. Initial contribution is not required, and minimum balance on the account shall be 250 euros. The service will cost 50 euros per month.

Banque de Luxembourg

The bank mainly opens savings accounts, thus, the amount of annual turnover is not monitored. Standard package of documents is required for all types of accounts. The period for opening bank account for non-resident in Luxembourg ranges from 7 to 14 days, and upon the expiry of consideration period of the application you become the owner of new account and receive the bank details for management. Our lawyers comply with the privacy policy, which guarantees security for your finances and data.

Required documents for opening account in Luxembourg for non-resident

Law&Trust is your authorized person throughout the operation, and we start cooperative work regarding opening bank account in Luxembourg with consultation and selection of the bank, then we collect all the necessary documents and prepare them for sending to the bank. Specific list of documentation depends on the selected bank and should be clarified by phone.

Luxembourg: list of banks
Name of the bank Account opening cost Founded
Banque Internationale a Luxembourg SA (BIL) 890 EUR 1856
Banque de Luxembourg 890 EUR 1856
Novo Banco Luxembourg 890 EUR 1984