How to open offshore account in luxembourg remotely

How to Open an Offshore Bank Account in Luxembourg (Step-by-Step)

Opening an account as a non-resident is entirely legal but requires a complete set of documentation before an offshore bank account can be opened in Luxembourg.

1. Choose Your Banking Tier

• Retail/Expat Banking: Usually not available as Luxembourg only offers non resident banking options to High Networth Individuals (HNIs)
• Private Banking: Bespoke wealth management usually requires a minimum deposit of €500,000, though some non residence banks may accept minimum balance starting from €300,000.
• Fintech Options: Financial Technology (FinTech) companies is what is known as an Electronic Money Institution (EMI), these platforms acts as an intermediary party between the bank and the user.
• Since EMIs are only responsible for instructing the bank to or receive for the customer, there is little to no minimum account balance required, and your funds are still deposited with a bank that guards the deposited funds safely, also known as a safeguarding bank.
  • Essentially, depositing funds at an EMI is the same as with a non residence friendly bank in Luxembourg, but at a much lower account balance threshold.

2. Documentation for Non Resident Individual Accounts

For personal accounts, banks in Luxembourg that opens accounts for international customers will ask for:

• Experience Confirmation: A personal CV indicating work of experience or similar that indicates the generation of source of wealth.
• Proof of Identity: A certified copy of a valid passport.
• Proof of Address: A utility bill or lease agreement (less than 3 months old).
• Proof of Income: Pay stubs, tax returns, letter of sale of asset, or a bank reference letter.
• Source of Wealth: Documentation explaining how your capital was acquired (e.g., inheritance, business sale, or long-term savings).

3. Remote Account Opening

One common question that is asked is, can I open a Luxembourg bank account online?

Yes – while traditional private banks often prefer an in-person meeting, many now offer video-ID verification and digital onboarding to easily open non resident accounts in Luxembourg.

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Tax Compliance and Privacy in 2026

A common search query is: “Is Luxembourg banking still private?” The answer is yes, but with a caveat.

• Luxembourg complies with the Common Reporting Standard (CRS) and FATCA. This means:

DAC8 Compliance: Starting January 1, 2026, new EU rules (DAC8) extend reporting to crypto-assets and digital currencies in all offshore banks that opens non resident accounts for customers.

Automatic Exchange of Information: The tax authority of your country of residence (not country of citizenship, if residing outside) will be notified of your account holdings.

• This is known as Common Reporting Standards (CRS).

Luxembourg banking for US citizens: It is legal for Americans to bank here, but you must report the account via FBAR and FATCA filings to avoid heavy IRS penalties.

Document Needed To Open Non Resident Business Account in Luxembourg

Foreign corporate documents must be Apostilled or Legalized by the country of origin’s Ministry of Foreign Affairs, and translated into English, French, or German by a certified translator.

Corporate Records:

• Articles of Association.
• Certificate of Incorporation.
• Certificate of Good Standing (not older than 3 months).
• Group Structure Chart: A signed diagram showing the full ownership chain up to the Ultimate Beneficial Owners (UBOs).
• Register of Directors and Shareholders.

Personnel Identification Documents:

• Verified Passports for all Directors, major Shareholders (more than 25%), and authorized signatories.
• Proof of Residential Address for these individuals (utility bills less than 3 months old).
• Professional CVs of the directors to prove they have the expertise to manage the business.

Financial Evidence:

In order to open an offshore account for international companies in Luxembourg, Luxembourg offshore banks must understand the company’s

Transaction Forecast: A 12-month projection of monthly inflows, outflows, and typical transaction “corridors” (which countries you will send money to).

• Latest Audited Financial Statements (or tax returns if the company is small).

Proof of Source of Wealth: Documented evidence of how the company’s capital was generated (e.g., historical profits, sale of an asset, or investor funding).