How to Open a Bank Account in Luxembourg as a Foreigner

Luxembourg, known for its robust financial sector, offers a wide range of banking services catering to both residents and non-residents. Whether you’re moving to Luxembourg for work or need a local account for business, the process is generally straightforward, although it varies slightly by bank.

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Requirements for Foreigners

To open a bank account in Luxembourg, you’ll typically need:

Proof of Identity: Valid passport or national ID.

Proof of Address: This can be a recent utility bill, rental agreement, or other official documents, even if outside Luxembourg.

Employment or Financial Proof: For non-residents, some banks require proof of employment or financial interest in Luxembourg, such as a job contract or property ownership.

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Steps to Open an Account

Select a Bank: Popular options include BNP Paribas, ING, Raiffeisen, and BCEE. These banks are experienced with expats and offer various account types, including everyday checking accounts and specialized expat services.

Apply Online or In-Person: Many banks allow online applications, but you may need to present documents in person, especially if you’re requesting a credit card.

Meet Residency Requirements: While some banks accept non-residents, others might require a local address or ask for a small initial deposit from a local or EU account

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Additional Tips

Banking in Luxembourg includes fees for account maintenance, especially for international transactions. Be sure to review monthly fees and ATM withdrawal costs, as charges can vary significantly between banks.

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