Your Free Guide: Open Business Bank Accounts in Europe
Download this FREE printable guide to start opening business bank accounts with the best banks in Europe.
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
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
Click here to read our featured Europe business banking article discussing how to open a European business bank account online.
Start Opening Today
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
Finally open accounts with our ‘Magic Eight’ account opening formula
Get the steps to avoid the ‘Top 7 Application Killing’ mistakes business owners keep making
Plus: How to unlock the ‘Four BBBs’ (business banking benefits) for your business
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.
- 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?
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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
- 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.
|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
Looking for a different type of account?
We can help you make informed decisions about personal, business, & private banking across Europe, Asia, and the United States. Click here to learn more.
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.