What you need to know about opening a Luxembourg bank account

Yes, you can open a bank account in Luxembourg as a non-resident, but the process and your options depend on your citizenship, where you live, and what the bank considers acceptable proof of identity and address. Luxembourg banks are regulated by the Commission de Surveillance du Secteur Financier (CSSF), and they follow European Union anti-money-laundering rules that explore across all member states. These rules mean every bank will ask for documentation that proves who you are and where you live — and some banks will refuse non-residents outright, while others have specific programs for them.

The practical difference between opening an account as a resident and a non-resident is that non-residents often cannot walk into a branch and complete the process in person. Most Luxembourg banks that accept non-residents require you to open accounts online or by post, which means you will need to send certified copies of your documents and sometimes use video identification. The timeline is typically two to four weeks from the moment the bank receives all your documents to the moment your account is active.

Key Takeaways

  • Luxembourg banks that accept non-residents usually require online or postal applications, not in-person visits, and will ask for certified copies of your passport and proof of address.
  • EU and EEA citizens have an easier path than non-EU citizens, because Luxembourg banks treat them as lower-risk under EU regulations.
  • Some Luxembourg banks specialize in serving non-residents and expats; others do not accept them at all, so you need to contact the bank directly before submitting documents.
  • You will need a Luxembourg tax identification number (numéro d'identification fiscale) if you plan to hold the account for more than a few months, which you can request from the Luxembourg tax authority (Administration des Contributions Directes).

Which Luxembourg banks accept non-residents

Not all Luxembourg banks have the same policy on non-residents. Some of the larger banks — including BGL BNP Paribas, Banque de Luxembourg, and Crelan — do accept non-resident customers, but they typically require you to meet minimum deposit amounts (often €10,000 or higher) and they may limit the types of accounts available to you. Smaller regional banks and some private banking institutions may refuse non-residents entirely or only accept them if they have a referral from an existing customer.

Before you gather documents, contact the bank directly and ask whether they accept non-resident accounts and what their specific requirements are. Many banks list this information on their websites under "International Customers" or "Non-Resident Accounts", but policies change and vary by branch. A phone call or email to the bank's customer service desk will save you time and the cost of sending certified documents to a bank that will not open an account for you.

If you are an EU or EEA citizen, mention that when you contact the bank — it often speeds up the process and increases the likelihood they will accept your process. Non-EU citizens may face longer processing times or higher minimum deposits, because banks treat them as higher-risk under EU anti-money-laundering regulations.

Documents you will need to provide

Every Luxembourg bank will ask for proof of identity and proof of address. For identity, a valid passport is the standard; some banks will also accept a national identity card if you are an EU citizen. The document must be current — expired documents will be rejected. For address, banks typically accept a recent utility bill (electricity, gas, water), a rental agreement, or an official letter from your local government showing your name and address. The address document usually must be dated within the last three months.

You will need to provide certified copies of these documents, not originals or photocopies. A certified copy is one that has been stamped and signed by a notary, a lawyer, or an official government body confirming that it is a true copy of the original. The cost of certification varies by country but typically ranges from €10 to €50 per document. Some banks will accept certified copies sent by post; others require you to use a video identification service where you hold your documents up to a camera while a bank representative watches.

You may also be asked to provide a reference from another bank where you currently hold an account, or to explain the purpose of the account (business, personal savings, investment, etc.). Be prepared to answer questions about the source of your initial deposit and your employment or income.

The process process for non-residents

The process process typically begins online. You will fill out an account opening form on the bank's website, providing your personal details, address, employment information, and the type of account you want. The form will ask whether you are a resident of Luxembourg; you will indicate that you are not. At this point, the bank will either tell you they cannot proceed or will send you instructions for submitting your documents.

If the bank accepts your process, they will ask you to send certified copies of your identity and address documents. Some banks use a find online portal where you can upload scanned copies; others ask you to mail physical copies. If you use the mail route, send your documents by registered mail so you have proof of delivery. Keep a copy of everything you send.

Once the bank receives your documents, they will verify them and may contact you by phone or email to ask follow-up questions. This verification step typically takes one to two weeks. If everything checks out, the bank will open your account and send you your account number, online banking credentials, and information about how to make your first deposit. Some banks will not set up the account until they receive your initial deposit.

Tax identification and ongoing requirements

If you plan to hold a Luxembourg bank account for more than a few months, you will need a Luxembourg tax identification number (numéro d'identification fiscale or NIF). This is not the same as your passport number or your home country's tax ID. You can request a NIF from the Administration des Contributions Directes (ACD), Luxembourg's tax authority, either online through their portal or by mail. The process is free and typically takes two to four weeks.

Luxembourg banks are required by law to report account information to your home country's tax authority under the Common Reporting Standard (CRS), an international agreement that shares financial information between countries. This means your home country will know you have a Luxembourg account. You may be required to report the account to your home country's tax authority as well — the rules depend on your citizenship and where you live. Check with a tax professional in your home country before opening the account.

Once your account is open, the bank will send you annual statements and may ask you to update your address or employment information if it changes. Some banks require non-resident customers to maintain a minimum balance or pay higher fees than resident customers.

Costs and fees

Luxembourg banks charge account maintenance fees, transaction fees, and sometimes fees for services like wire transfers or currency exchange. These fees vary widely by bank and by account type. A basic checking account might cost €5 to €15 per month, while a savings or investment account may have different fee structures. Many banks waive or reduce fees if you maintain a minimum balance, typically €10,000 or more.

In addition to bank fees, you should budget for the cost of certifying your documents (€10 to €50 per document) and potentially for a video identification service if the bank requires it (usually free, but some banks charge €10 to €25). If you need to send documents by international registered mail, that will cost €15 to €40 depending on your location.

Alternatives if Luxembourg banks decline your process

If you contact several Luxembourg banks and none will open an account for you, you have other options. Some online banks and fintech companies that operate in Luxembourg will open accounts for non-residents with less stringent requirements, though they may offer fewer services than traditional banks. You can also open an account in another EU country — the rules are similar, but some countries have banks that specialize in serving non-residents and may have lower minimum deposits or faster processing times.

Another option is to open an account in your home country that allows international transfers and online access, and use that account to hold and transfer money while you explore longer-term banking solutions in Luxembourg. This is not ideal if you need a Luxembourg account for business or regular payments, but it works for temporary situations.

Frequently Asked Questions

Do I need to be a Luxembourg resident to open a bank account there?

No. You can open an account as a non-resident, but not all banks accept non-residents, and those that do usually require online or postal applications with certified documents rather than in-person visits. Contact the bank first to confirm they accept non-residents before you submit anything.

How long does it take to open a Luxembourg bank account as a non-resident?

The process typically takes two to four weeks from the moment the bank receives all your certified documents. Online process and document submission may take a few days, but verification and account set up are where the time adds up. Some banks are faster; others slower.

What is the minimum deposit required?

Minimum deposits vary by bank and account type. Many Luxembourg banks that accept non-residents require a minimum of €10,000 to €25,000 for a basic account. Some online banks or fintech services have lower minimums. Ask the bank directly before you explore.

Will my home country know I have a Luxembourg bank account?

Yes. Luxembourg banks report account information to your home country's tax authority under the Common Reporting Standard. You may be required to report the account to your home country's tax authority as well, depending on your citizenship and residency status. Check with a tax professional.

Can I open a business account in Luxembourg as a non-resident?

Yes, but the requirements are stricter than for personal accounts. You will need to provide business registration documents, proof of business address, and sometimes financial statements. Some banks require you to have a Luxembourg business address or a registered agent in Luxembourg. Contact banks that specialize in business accounts for non-residents.