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Luxembourg banks and business access: what the government is doing about it

Last time updated
24.03.25
How to relocate a business to Luxembourg

Source: Getty Images on Unsplash

In response to a parliamentary request from MP Laurent Mosar (Laurent Mosar) dated 7 March 2025, Luxembourg Finance Minister Gilles Roth outlined the limits of state involvement in private banking. The Ministry, he said, does not interfere in the risk management policy or commercial strategy of financial institutions. However, it maintains an ongoing dialogue with all actors in the sector - especially the Association of Banks and Bankers of Luxembourg (ABBL).

The Minister said that the ABBL is already implementing several initiatives to facilitate access to banking services for businesses. Among them is the publication of a list of banks and payment institutions willing to work with different types of legal entities. Moreover, the ABBL website (www.abbl.lu) has detailed guidelines on how to open bank accounts for startups, small and medium-sized enterprises (SMEs) as well as for associations and subsidiaries of large companies.

The purpose of these tools is to explain to potential customers what kind of documents and information may be requested by banks, as well as what legal provisions apply within the framework of anti-money laundering and counter-terrorist financing legislation.

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Last time updated
24.03.25

We took photos from these sources: Getty Images

Authors: Alex