European Business Bank Account

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European Business Bank Account

European business bank accounts can be incredibly beneficial. But accessing the right banks depends on where your business is registered, your industry, and why you want to open an account.

Use our featured articles & free resources below to find out where your business can bank in Europe and how to navigate the account opening process.

European Business Banking Article

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Open European Business Bank Account Online [New Account]

European business bank accounts can be opened online with fintech & brick-and-mortar banks. The specific banks available to a business depend on the industry, country

Business IBAN Account Opening [How to Guide]

Malta Business Bank Account Opening

Business Bank Account Cyprus [Cyprus Bank Account]

Open a UK Company Bank Account as a Non-Resident

Click here to read our featured Europe business banking article discussing how to open a European business bank account online.

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The best way to get started with business banking in Europe is to download your copy of our Business Banking Guide. It’s free and shares the step-by-step process to open offshore bank accounts in top European banking hubs.

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European Business Bank Accounts

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Getting Started

European Business Banking 101

Below you’ll find our archive of free resources to assist with account opening. This includes detailed articles to help you open accounts in top banking hubs in Europe and explanations on how to navigate challenges for specific client types.

Key Takeaways

Not all European banks accept foreign & non-resident businesses
Most foreign businesses can open a European business bank account 100% online
The account opening requirements vary between jurisdictions
European banks can offer seamless transactions between Eurozone countries
Unexpected fees can apply if businesses choose the wrong banks

Why Open a Business Bank Account in Europe?

As mentioned above, opening a European business bank account can offer tremendous benefits for any business that serves European customers or has European suppliers. But those aren’t the only reasons why you might want a European bank account for your business.

Generally speaking, the businesses that stand to gain the most from opening a business bank account in Europe are those that…

Serve European customers
Work with European suppliers
Want to tap into low-cost SEPA transfers
Require remote account opening
Want a backup business bank account
Are looking for diversification
Want access to European payment processors & transfer services
Are looking for deposit guarantees

This is because once you have a European business bank account, you will be able to gain access to a number of attractive benefits.

Benefits of Opening a European Business Bank Account:

A European business bank account…

Offers fast & affordable SEPA transactions
Makes it more efficient to send & receive money between Eurozones
Makes it easier to pay European suppliers
Enables access to a stable currency
Offers multi-currency accounts
Can be opened 100% remotely (with the correct information)
Offers deposit guarantees up to €100,000
And more…

Sound like things that your business could benefit from?

If you’re ready to start opening European business bank accounts, GlobalBanks IQ will give you access to all the tools you need to start opening accounts today…

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Who Can Open a Business Bank Account in Europe?

While banks in most European countries are open to foreign businesses, not all of them are. And many have restrictions on the types of businesses they will open accounts for or the industries they will work with. In other European countries, banks will only open an account if you can demonstrate sufficient ties to the country.

With that said, let’s look at who can open a European business bank account.

Business Types that Can Open European Business Bank Accounts:

Non-EU companies
Offshore companies
Foreign businesses with no European customers
Businesses with European customers
Freelancers
Digital Nomads
International businesses with global operations

Choose Your Jurisdiction

European Business Banking Hubs

Which jurisdictions you will be able to open accounts in will depend on the type of business you have, where your customers are based, and what industry you operate in.

To help you navigate your options we’ve put together a shortlist of where you can open the best European business bank accounts as a foreign-owned business below.

Jurisdiction	Business Types	Benefits
Cyprus	Foreign, local	Lower deposit requirements, accessible transactional banking, remote opening available, accepts offshore structures, looks for a tie to Cyprus.
Malta	Local, offshore, foreign	Easy account opening process for local businesses but very challenging for businesses that do not have an on the ground presence.
Isle of Man	Foreign, local, foundations, trusts	Remote opening, well-regulated banking jurisdiction, banks here are familiar with foreign entities, deposit insurance up to £50,000, often requires a local fudiciary or corporate secretary.
Portugal	Local, foreign, Europrean	Lower fees compared to other EU jurisdictions, access to multi-currency accounts, deposit insurance up to €100,000, SEPA compliant, looks for clear tie to EU.
Spain	Local, foreign companies that have ties to Spain	English language support, fee free accounts (varies by bank), some banks have lower fees, good options exist for larger corporates with ties to the EU.
Czech Republic	Non-resident EU companies, local, offshore	Higher tolerance for high-risk businesses, deposit insurance (varies by bank), more familiar with CIS businesses than other EU countries.
Switzerland	Local, businesses with complex international structures, foreign entities	Private banking focused, looking for clients that will invest a portion of deposits, more open to high-risk businesses. Banks are willing to consider onboarding where there is a clear business case.
Austria	Local, foreign companies with ties to Austria	Economically & politically stable, accepting of foreign companies, comfortable with most nationalities, familiar with offshore structures and foreign companies.
Liechtenstein	Local foundations and entities, foreign wealth management structures	Stable banking jurisdiction, excellent customer service, focused on private banking, capable of onboarding high-risk and prohibited industries, willing to look at clients that can present a clear business case.
Lithuania	Local, foreign, Offshore (via EMIs)	SEPA compliant, EMIs and payment institutions are cost effective options, deposit guarantees (varies by platform), accounts with traditional banks are very difficult to open. This is a digital banking hub for non-resident businesses.

Your Other Options

Alternatives to European Business Banking

Below you’ll find our archive of free resources to assist with account opening.

This includes detailed articles to help you open accounts in top banking hubs in Asia and free guides explaining how to navigate challenges for specific client types.

We also share helpful information on how to overcome challenges for specific businesses and individuals.

Banking in Europe for Individuals & Businesses

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Business Bank Account Opening

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Free Resources

European Business Banking

Below you’ll find our archive of free resources to assist with opening European bank accounts.

This includes detailed articles to help you open accounts in top banking hubs in Europe and free guides explaining how to navigate challenges for specific business types.