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.