How to Open a Business Bank Account In Germany as a Foreigner
Doing business in Germany requires a local bank account, but for foreign companies, the process can be complex and time-consuming. From documentation hurdles to regulatory requirements, getting approved isn’t always easy.
Commenda simplifies this with a platform that supports entity setup, document preparation, and bank-ready compliance.
In this guide, you’ll learn how to open a business bank account in Germany as a foreigner, explore top banking options, and overcome common challenges; so you can launch and scale your business with clarity and confidence.
Benefits of Having A Local Business Bank Account In Germany
For any foreign business entering the German market, knowing how to open a business bank account in Germany as a foreigner is a strategic necessity; a foundational step toward building a legitimate and fully operational presence. Beyond basic financial management, a local account offers several strategic advantages:
- Compliance with local tax regulations: Required for VAT registration and dealings with the German tax office (Finanzamt).
- Credibility with local partners and institutions: Helps establish trust with clients, suppliers, and banks.
- Seamless domestic transactions: A German IBAN enables low-cost transfers within the SEPA zone.
- Simplified payroll and expense management: Supports payments to employees and vendors in euros.
- Easier financial reporting: Many banks offer tools that align with German accounting standards.
In short, having a local account is more than convenient; it’s critical for compliance, reputation, and operational efficiency in the German market.
Can a Foreign Company Open A Business Bank Account In Germany?
Yes, foreign-owned entities and non-residents can open a company bank account in Germany, but access depends on residency and the type of bank.
German law does not forbid non-residents from opening business accounts. However, non‑German entities outside Germany are generally limited to direct banks (Direktbanken), online-only institutions without physical branches, as they allow remote onboarding and video or postal identification processes (VideoIdent or POSTIDENT).
If you are a non‑German but physically present in Germany, you may apply to most traditional banks, with no special restrictions on products or access once identity and residency are verified. If you aren’t in Germany, you can still proceed by appointing a local representative, often a lawyer, notary or tax adviser, who can open the account on your behalf with a proxy document and legally authenticated or apostilled paperwork accepted in Germany.
Note: Not all banks might accept representatives, so always confirm first.
Business Bank Account Requirements for Non-Residents In Germany
Unsure about how to open a business bank account in Germany because of the requirements? You’ll need to meet strict identification and documentation standards. Germany’s banks must comply with the German Money Laundering Act (GwG), which outlines how banks verify the identities of both individuals and legal entities.
For non-residents, the verification process can be completed using one of three methods:
- POSTIDENT (in Germany): Visit a Deutsche Post office with your valid ID and bank application.
- VideoIdent (worldwide): Complete ID verification through a secure video call with your bank.
- Credible Third Parties (worldwide): Involve lawyers, accountants, or notaries in your home country (with apostille or legalisation, as required).
Banks follow strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which make documentation and verification particularly important.
To open a company bank account in Germany, you’ll typically need:
- Valid ID with full details and apostille or legalisation
- Company formation documents
- Commercial register number and excerpt (if applicable)
- Proof of your right to represent the company
- Certificate of registration or utility bill (for address verification)
As mentioned, non-residents can streamline this process by appointing a local representative or working with a service provider that understands the compliance environment in Germany. This is especially helpful when dealing with documentation, translations, and verification logistics.
Legalization and Translation of Documents For Foreign-Owned Entities
If you’re wondering how to open a business bank account in Germany as a foreigner, understand that document authentication plays a crucial role. German banks are legally obligated to verify the identity of both natural and legal persons, and this includes authenticating foreign-issued documents.
So, if you’re wondering “How can I open a business account in Germany if my company’s paperwork is from abroad?”, the answer is that it depends on your country of origin.
Most documents from Hague Convention countries are accepted in Germany if accompanied by an apostille. This is a streamlined form of authentication recognized between member states.
However, if your country isn’t part of the convention or Germany doesn’t recognize its apostille, you’ll need to go through a legalisation process, where your documents are authenticated both by local authorities and the German consulate or embassy.
In some cases, neither apostilles nor legalisations are accepted, limiting your options. In these instances, you may need direct support from a local representative or trusted third party within Germany.
Additionally, if your documents aren’t in German, certified translations are typically required. Some banks insist on these translations being completed by sworn translators based in Germany, so it’s essential to plan ahead.
Step-by-Step Process to Open A Business Bank Account In Germany
Want to know how to open a German business bank account in a few easy steps? Here’s a reliable roadmap that will guide you through the process, whether you’re a non-resident or planning to be in-country.
- Choose your bank
- If you’re abroad, consider digital/direct banks (e.g., comdirect, DKB) that support remote onboarding via VideoIdent or POSTIDENT.
- If you’re in Germany or using a representative, traditional banks like Deutsche Bank, Commerzbank, and Sparkasse are excellent options.
- Gather documentation
- Valid ID (passport) and proof of address or utility bill
- Company incorporation documents (articles of association, shareholder list)
- Commercial register excerpt for GmbH/UG or Gewerbeanmeldung for sole proprietors
- Complete ID verification: Visit Deutsche Post in Germany with your application and ID if you’re in the country. If you reside outside Germany, complete an online verification through video call or a credible third-party verification.
- Submit application and sign forms: Fill out the bank’s application and sign either in-person or digitally. Traditional banks may require a branch visit; direct banks offer fully remote completion.
- Deposit share capital (for GmbH/UG): After the account opens, deposit the minimum share capital (e.g., €12,500 for a GmbH). Your bank issues a certificate for notary and Handelsregister registration.
- Receive account details: Once verified and funded, you’ll receive your German IBAN and BIC, ready for use in SEPA transfers and local transactions.
Following these steps ensures you open a company bank account in Germany with clarity and compliance at every stage.
Best Business Bank Accounts In Germany For Foreigners
When you’re looking for the best bank accounts for business in Germany, the choice of provider matters; especially when you’re a foreign-owned entity.
Digital & Neo‑Bank Options
Many non-resident companies find the process easier with digital banks that permit fully remote setup.
- N26 Business: German neobank offering free basic plans, German IBAN, cashback, and mobile-first UX; English support and onboarding available.
- Penta: Designed for startups and SMEs, it features multi-user access, smart expense tracking, and accounting integrations.
- Holvi: Offers German IBAN accounts with unlimited transactions, integrated bookkeeping tools, and a web/mobile interface in English.
- Fyrst: A fintech by Deutsche Bank, provides basic free accounts or paid plans, plus ATM access across Germany and accounting integrations (German-only interface).
Traditional Bank Options
For businesses able to work in Germany, or via a local representative, traditional banks offer full-service packages:
- Deutsche Bank: Strong English support, in‑branch services, business loans and international payment capabilities.
- Commerzbank & Sparkasse: Widely trusted and regionally accessible, ideal for businesses needing in-person assistance and local credibility.
- HypoVereinsbank (UniCredit Bank): Strong international orientation, multilingual corporate banking services, and access to UniCredit’s global network.
Choosing the right provider is one of the most important steps when you open a company bank account in Germany.
Common Challenges When Opening A Bank Account In Germany As A Non-Resident
Opening small business bank accounts in Germany can be complex for non-residents due to several regulatory and procedural hurdles. Some common challenges include:
- Strict KYC and AML regulations: Banks require extensive documentation, especially for foreign-owned businesses.
- In-person verification requirements: Many traditional banks require physical presence or a local representative to verify identity.
- Document authentication delays: Apostilles or legalisations are often needed for foreign documents, depending on the country of origin.
- Limited support for non-German speakers: Smaller banks may lack English-language customer service, creating communication barriers.
- Preference for locally registered entities: Banks often favor companies with a German commercial register number or local address.
- Rejection by direct banks: Online-only banks (Direktbanken) may restrict access to non-residents or businesses without German ties.
Understanding these challenges in advance can help you better prepare to open a company bank account in Germany with fewer obstacles.
Tips to Get Your Business Bank Account Approved Faster
To improve your chances of approval when applying for a business account in Germany, it’s important to anticipate what banks expect, especially as a non-resident. Here are some practical tips:
- Use a local representative: If you’re not in Germany, appoint someone locally to complete in-person identity checks or documentation delivery.
- Choose the right bank: Some banks are more foreign-entity-friendly (like Deutsche Bank or fintechs such as Kontist). Avoid banks known to reject non-residents.
- Prepare certified documents: Ensure your documents have the correct apostille or legalisation and certified translations if needed.
- Submit a clear business plan: A concise, credible plan builds trust and supports anti-money laundering checks.
- Register a German address: Even a virtual office or local business presence can help signal credibility.
Following these steps can significantly speed up the process to open a company bank account in Germany.
Alternatives To Traditional Business Bank Accounts In Germany
If you’re running a business remotely or facing challenges with local bank onboarding, you might be considering alternatives. Several fintech platforms can provide fast access to EUR accounts and cross-border functionality:
- Wise Business: Offers multi-currency wallets and EUR account details, ideal for SEPA payments. However, IBANs are typically BE/EE-based, not German, and occasional account holds may occur if documents are unclear.
- Payoneer: Provides virtual EUR receiving accounts for global payouts. It’s helpful for remote businesses, but clients and tax authorities often expect a local DE IBAN.
- Revolut Business: Supports GmbH, UG, and other German entities, with digital onboarding requiring shareholder and address proof. Approval can take a few days.
- Other fintechs: Platforms like N26, Finom, Kontist, Qonto, Holvi, and bunq offer IBANs, accounting tools, and fast setup, but non-resident eligibility varies.
While these alternatives are convenient, they don’t always meet German regulatory needs for VAT, payroll, or business credit. To remain fully compliant, many companies still need to open a company bank account in Germany.
Tax And Compliance Rules For Foreign-Owned Bank Accounts In Germany
Foreign businesses that open a company bank account in Germany must navigate rigorous tax and regulatory frameworks to ensure proper reporting and compliance.
- Automatic Exchange of Information (AEOI): German banks participate in the OECD’s Common Reporting Standard (CRS), meaning account data, including balances and interest income, are automatically shared with tax authorities in other participating jurisdictions. For U.S. connections, German institutions also comply with FATCA, submitting relevant account-holder information to the IRS via bilateral agreements.
- Domestic Reporting Obligations: As of January 2025, German banks have started reporting and withholding tax on income earned from non‑euro currency accounts. This means gains on accounts in USD, GBP, or CHF must be declared and may be taxable under capital income rules.
- Cross-Border and Large Transfers: German law requires entities to report cross-border payments exceeding EUR 50,000 via the Foreign Trade regulation (AWG/AWV). These reports go to the Bundesbank, and non-compliance may result in fines.
- Beneficial Ownership & Risk Profiling: Under the German Money Laundering Act (GwG), banks must collect detailed ownership data, perform risk analysis, and continuously monitor transactions via the Financial Intelligence Unit (FIU).
Non-resident entities should work with a German tax advisor to correctly report foreign income, CRS/FATCA liabilities, and ensure full compliance when opening a company bank account in Germany.
How Commenda Supports Global Banking And Tax Compliance
When you open a company bank account in Germany as part of international expansion, Commenda ensures you’re bank-ready and compliant from day one. Our platform streamlines:
- Entity setup & management: Incorporate your German entity and maintain ongoing compliance with automated workflows and document oversight.
- Document support & translations: Generate and store apostilled/legalised documents, and manage certified translations as needed.
- Tax & accounting services: Automate filings for corporate tax, sales tax (VAT, GST), and reports across jurisdictions.
- Transfer pricing compliance: Create required documentation and manage risk for cross-border intercompany transactions.
Backed by expert support, Commenda brings legal entity services, bank-ready compliance, and tax automation under one umbrella. Our platform simplifies cross-border setup and ensures you’re ready to operate in Germany without missing a beat.
Ready to simplify your global expansion? Book a demo with Commenda today and see how easy it is to open a company bank account in Germany.
Frequently Asked Questions (FAQs)
Q. Can a non-resident open a business bank account in Germany?
Yes, but most banks require either in-person verification or a local representative.
Q. What documents are required to open a business bank account in Germany as a foreign company?
You’ll need ID, proof of company registration, a business address, and sometimes apostilled or translated documents.
Q. Do I need a local director or representative to open a business account in Germany?
Not always, but it helps with in-branch banks that don’t offer remote verification.
Q. Can I open a business bank account in Germany online without visiting?
Yes, some online banks and fintechs support remote onboarding with VideoIdent or third-party verification.
Q. Which banks in Germany allow foreign-owned or non-resident businesses to open accounts?
Deutsche Bank, Commerzbank, and fintechs like Wise and N26 support non-resident businesses.
Q. How long does it take to open a business bank account in Germany for a foreign entity?
It typically takes 1–4 weeks, depending on the bank and verification method.
Q. Are there minimum deposit or balance requirements for foreign-owned business accounts in Germany?
Yes, some banks require a minimum deposit or monthly balance, especially for GmbHs.
Q. Can I open a multi-currency or USD/EUR business account in Germany?
Yes, many banks and fintech platforms offer multi-currency account options.
Q. What are the tax implications of holding a business account in Germany as a foreign company?
You may need to report transactions and earnings to German tax authorities depending on activity.
Q. What should I do if my business documents are not in Germany’s official language?
Provide certified German translations from a sworn translator, as most banks and authorities require official versions for approval.
Q. Are fintech alternatives like Wise or Mercury accepted for doing business in Germany?
Yes, they are widely used, but not always accepted for statutory compliance or GmbH setup.
Q. What are common reasons business bank accounts get rejected for foreign entities in Germany?
Lack of proper documentation, high-risk profiles, or unverifiable identity are common issues.
