Which Bank is the Best to Do International Banking in Luxembourg?12 min read

Which Bank is the Best to Do International Banking in Luxembourg?12 min read

If you’re looking to do international banking in Luxembourg, opening an account with The Kingdom Bank may be your best option. 

As the only completely digital bank licensed in Luxembourg, The Kingdom Bank makes international transfers and global banking more accessible and efficient than ever before. 

In this guide, we’ll explore why The Kingdom Bank is the premier choice for international banking needs and walk through everything you need to know to get started.

Opening a Luxembourg International Banking Account

Opening an international banking account in Luxembourg allows you to benefit from the country’s stable economy, central location in Europe, and favorable banking regulations. 

However, not all banks in Luxembourg offer the same level of convenience and services for global customers. When comparing your options, there are a few key factors to consider.

First and foremost, look for a bank that can provide banking services completely online. Having a fully digital platform removes geographical barriers and allows customers to manage their finances from anywhere in the world. 

It also streamlines the account opening process so you can get up and running quicker.

You’ll also want a bank with multilingual support. As one of the most internationally diverse countries, Luxembourg caters to clients from around the globe. 

With customer service available in several major languages like English, finding a globally-minded bank will make managing your account much easier.

Additionally, consider fees for international transfers and exchange rates. Certain banks charge expensive wire transfer or currency conversion fees that can seriously impact your savings over time. 

The Kingdom Bank, in particular, has extremely low fees for international money transfers.

Lastly, research what type of banking services are offered. The best international bank provides private banking capabilities as well as corporate banking options.

You’ll want a single financial partner that can grow with your needs for both personal and business use worldwide.

Documents Required to Open a Luxembourg International Banking Account

To open an international banking account with The Kingdom Bank, the documentation process is straightforward thanks to our streamlined digital process. 

Here are the basic requirements:

• Passport or government ID – Provide a recent photo of your valid passport or national identity card for verification.
• Proof of address – A recent utility bill or bank statement with your current residential address is sufficient.
• Income documentation – For personal accounts, you may need to provide pay stubs or tax returns. Corporate accounts require business registration documents.
• Bank reference – Provide account details for an existing local or international bank you use. This assists The Kingdom Bank in its diligence process.

Once you have uploaded clear images or scans of these documents through The Kingdom Bank mobile app, our experienced client teams can review and approve your application quickly. 

Within just a few business days, you’ll receive your login credentials and debit card to start using your new international banking account.

What are the Advantages of Luxembourg International Banking?

When considering where to set up your offshore banking activities, Luxembourg offers some strong advantages over other popular jurisdictions:

• Political and economic stability – As a founding member of the EU and part of the Benelux economic union, Luxembourg maintains stability through European economic prosperity.
• Favorable tax policies – Personal income and capital gains taxes in Luxembourg are lower than other core EU territories. Corporate taxes are also competitive for businesses.
• Banking expertise – Luxembourg has a long history of banking secrecy and wealth management. Opening an account allows access to relationship managers very experienced with high-net-worth clients and international structures.
• Central location – Situated between Brussels, Paris, and Frankfurt, Luxembourg provides easy access to the entire Eurozone. It’s a convenient hub for conducting European business affairs and investments.
• Multilingual workforce – Around 50% of Luxembourg residents are foreigners, so the labor market and professional services are globally-minded and multilingual in nature.
• Regulatory stability – As a tiny but influential EU member state, Luxembourg maintains top financial regulations that balance prudent oversight with progressive practices like digital banking.

When paired with the advanced digital services of The Kingdom Bank, these advantages create an optimal environment for hassle-free international banking from one global account.

Can Non-Citizens Open an International Banking Account in Luxembourg?

Yes, Luxembourg allows non-residents to open international banking accounts much more readily than other offshore jurisdictions. 

The Kingdom Bank welcomes clients from all over the world, regardless of nationality or country of residence. 

As long as you meet a few basic requirements, you can enjoy the same banking privileges as European citizens through one account.

To qualify for a non-resident account with The Kingdom Bank, you simply need to:

• Be at least 18 years old
• Provide valid government ID and proof of address
• Have a stable source of funds like income, business profits, or investments
• Agree to The Kingdom Bank’s terms and conditions

Citizenship, residency, work permits – none of these specific qualifications apply when opening an international banking account through The Kingdom Bank from abroad. 

Our fully digital process levels the playing field for global high-net-worth individuals and businesses seeking an advanced international bank. 

So whether you’re based in America, Asia, or elsewhere, your money is just as welcome in Luxembourg’s banking system.

Best Way to Do International Banking in Luxembourg

Given its extensive online capabilities and leading financial technology, The Kingdom Bank provides by far the best way for conducting international banking activities in Luxembourg. 

Here are a few key reasons why:

• Convenience – Manage all your accounts, transfers, payments, and more through a single highly rated mobile app. No need to visit a physical branch.
• Global accessibility – Control your offshore banking privileges from anywhere in the world with internet access on desktop or mobile.
• Lower costs – Pay zero account fees while enjoying some of the lowest fees available for international transfers with integrated partners
• Advanced security – Rest assured knowing The Kingdom Bank employs bank-grade encryption, two-factor authentication, transaction monitoring, and dedicated security teams.
• Multicurrency support – Hold balances, transact, and view statements in USD, EUR, GBP, cryptocurrencies, and over 50 other global currencies for superior flexibility.
• Support whenever needed – Get live assistance 24/7 from our centralized global client services staff reachable by phone, email, or chat.

Essentially, through one password-protected digital profile you gain 24/7 entry to a full-service international bank with elite wealth management tools. 

And without ever having to visit Luxembourg! It’s truly a new era of global banking freedom through The Kingdom Bank.

So whether you need a private offshore account for wealth preservation, multi-currency corporate banking services, or simply lower-cost international payments – The Kingdom Bank provides the easiest, most advanced way to bank across borders from Luxembourg. Sign up takes minutes online and your new account is ready to use immediately.

For convenient and low-cost international banking capabilities coupled with Luxembourg’s renowned stability, regulatory standards, and banking network – The Kingdom Bank stands alone as the top choice financial partner. 

Give our innovative digital services a try today to experience global personal and commercial banking without boundaries or restrictions.