Open an account in Luxembourg - COREDO


Luxembourg leads the ranks of the richest European countries. This is a small and highly developed country that is considered a major tourism and financial centre. 

Despite the very modest size of the country, the banking system in Luxembourg is highly developed. A large number of local and international banks operate in Luxembourg. About a quarter of them are subsidiaries of foreign banks from such countries as Germany, France and Switzerland. There are also many investment banks operating in the country.

Opening a bank account in Luxembourg

The financial regulator of Luxembourg is the Central Bank, namely BCL (Banque centrale du Luxembourg), while the CSSF (Commission de Surveillance du Secteur Financier) has a supervisory function. The interference of state agencies in the banking sector is minimized, but Luxembourg banks themselves are subject to certain obligations in the framework of the fight against illicit financial flows and terrorism.

These measures include the identification of beneficial owners and sources of funds, strict control over transactions, especially cross-border ones, as well as other measures. If a client successfully passes all the checks and opens an account at a bank, he / she is provided with the comprehensive range of banking services and full confidentiality. The security of deposits is guaranteed. The loyalty to non-residents is also ensured.


In addition to the benefits mentioned above, the owner of an account in a Luxembourg bank receives:

  • additional services, which may include, for example, investments or building a securities portfolio;
  • possibility of opening a personal account as well as a corporate account;
  • current insurance system for bank deposits up to EUR 100,000;
  • favourable prices for banking services;
  • service in English, Russian and other languages. 

The best-known banks in the country are Banque et Caisse d’Epargne de l’Etat, BGL BNP Paribas, Societe Generale Bank & Trust, Deutsche Bank Luxembourg, Banque Internationale a Luxembourg, Banco Espirito Santo and Credit Suisse.


Our company is ready to provide you with effective assistance in the matter of opening an account in Luxembourg. We provide this service in a comprehensive manner, starting with advice and preparation of a complete set of documents and ending with obtaining the supporting documents for the account opening as well as handing them over to the applicant.

The standard set of documents includes director, company owners and other attorneys-in-fact ID cards as well as the original statutes (apostilled). 

The verification process by a bank institution and direct opening of an account usually takes from 14 to 21 days. It depends on the requirements of the chosen bank.

Please contact us if you ever need to open an account in Luxembourg. Our specialists have extensive experience in working with local banks and are ready to help in choosing the proper bank for your business as well as assist in preparing the necessary documents.


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