Open Bank Account in Germany

How to Open a Bank Account in Germany from Abroad

We can assist you to open your bank account in Germany!

German business bank accounts are among the most sought after in the world. Germany is situated in the heart of the EU and is considered a stable and respected country for banking. The structure of the German banking system consists of three levels each with their unique legal form, ownership and characteristics.

  1. Private banks like Commerzbank or Deutsche Bank as listed companies and Bankhaus Lampe and Hauck & Aufhäuser as smaller private banks.
  2. Co-operative banks like Raiffeisenbanken and Volksbanken which work on a member structure where each member has a vote independently from its capital share.
  3. Public banks legally defined by the German banking industry. The German public banks fall into two main groups.

Opening a German Bank Account from Outside Germany

Although it is possible to open a German bank account from outside the country it is not easy or in anyway straight forward. German banks have rigid regulations and policies that they must abide by in order to comply with AML due diligence and this is not possible when the customer is in a remote location. However if you have no luck with the German banks there are other alternatives for opening a German bank account from abroad. There are EMIs in Germany that will provide you with the same traditional banking services. These Electronic Money Institutions use advanced technology to enable international customers to open accounts from outside Germany.

Apply for a Bank Account in Germany

For Individuals and Companies

What Documents will you Need to Open a German Business Bank Accounts?

Foreign investors applying for a business bank account in Germany should prepare the following documents among others:

  • Explanation of the company’s shareholding structure.
  • Certificate of company registration; bylaws; decision of the board of directors and articles of associating.
  • Business plan including future projections.
  • Description of the company’s activities.

German Bank Accounts for Non-Residents

There are many non-residents that live and work in Germany and German banks are usually very welcoming to non-resident customers whether they are corporate or private. Deutsche Bank is one of the best banks for non-residents and they usually agree to open accounts for foreign companies and private individuals.

Laws and Regulations for Opening a German Bank Account Online

Each country in the EU, including Germany has its own laws relating to opening bank accounts online and which customers the banks can accept. Each of the EU countries must also abide by the EU directives on anti-money laundering which are necessary for “Know Your Customer” regulations.  For this reason opening a German corporate bank account online can be a complicated process.

Having a corporate bank account is necessary in order to register a company in Europe. The company’s share capital will be deposited in the corporate bank account. So when applying for a German corporate bank account it is vital that you have all the necessary paperwork in order.

Foreign investors should consider German banks that are known to work with non-German customers. And even if the bank is picked carefully the process can be drawn out as banks can take their time checking the background of potential customers.

Open Business Bank Account in Germany

For International Business, European companies, eCommerce and online activities.

Choosing a German Bank for Business Account Opening

Deutsche Bank AG is a multinational investment bank and financial services company based in Frankfurt. They operate in 58 countries worldwide and particularly in Europe, Asia and the Americas. It is the world’s largest German banking institution and a component of the DAX stock market.

Sparkasse Bank Germany gets its name from the German word for savings bank (Spartasse). They are commercial banks that operate in a decentralized structure. Each of the Sparkasse savings banks functions independently and is managed locally focusing on regional business. These banks are not particularly profit oriented and the shareholders are usually cities or groups of cities in an administrative district. Over 430 Sparkasse savings banks operate with over 15,500 branches and offices providing the whole range of traditional banking services for businesses and private customers.