Opening a bank account in Luxembourg is a stock frequented by people of high purchasing power, for the entire financial industry and even for normal people around the world. All have flocked to Luxembourg for decades, parking cash in banks, investment funds and other vehicles.

Over the years, Luxembourg has become a private banking powerhouse and the mecca of investment funds. And it's an incredibly interesting option for banking, investing, and everything financial.

Has this always been the case?

In 1929, Luxembourg created special laws for holding companies. But the world wouldn't take advantage of it until decades later. Enter the 60s. Eurobonds were the hottest trade in the world. And some banks were struggling to participate thanks to their local regulations. 

So, German banks flocked here in search of light regulation, non-existent banking laws, and Luxembourg became a hub for euro bond funds almost overnight.

Luxembourg introduced another law in 1981, this time formalizing bank secrecy. And companies, funds and non-resident investors from neighboring countries began to take notice. Even Belgian dentists, German butchers and ordinary people joined the action.

People were scheduling group trips, visiting Luxembourg in masse on buses, being dropped off at Luxembourg banks and proceeding to buy Eurobonds and other investments. Why? It was tax-free. And Luxembourg banks were safe and had earned a reputation for low taxes and wealth creation.

Today, this small landlocked micro state with 600,000 inhabitants is the second richest in the world and has one of the largest financial centers on the planet.

Where else in the world can you find private banks like Switzerland, an investment fund industry like Ireland or the Cayman Islands, and corporate tax efficiency on par with Bermuda or the Netherlands? A word Luxembourg.

Literally, Luxembourg is the tax haven used by other financial centers. And the interesting thing is that normal people (and their companies) can use it too.

There is a wide range of reasons to open an offshore bank account both personal or company in this jurisdiction, here we will mention the most relevant.

 Luxembourg is a center for investment and private banking.
 Banks here accept foreign and non-resident companies
 You can enter with $ 500,000 and sometimes less
 Remote account opening is still possible
 Excellent for investments, asset management and wealth structuring
 Some banks have deposit insurance of € 100,000
 Long history in dealing with offshore companies

If you have experienced difficulties entering private banking centers in Switzerland, Monaco, Andorra, Singapore or Liechtenstein it is our duty to tell you that Luxembourg could be the ideal jurisdiction for you and your finances. 

Compared to other countries in the world, Luxembourg banks tend to provide their services easily to foreign companies and non-residents. In fact, 42% of all assets under management in private banks in Luxembourg come from non-EU countries.

Luxembourg allows you to open offshore account online

It depends on the bank you are targeting, the banker you are dealing with, how much you plan to deposit and what you plan to do after the account is opened. In other words, whether or not you can open a personal or business bank account in Luxembourg online depends on the bank's internal policy, the type of account you are opening, and how attractive (or profitable) it is to the bank.

The jurisdiction allows you to open an offshore account online, but it will depend on the bank you choose, the banker you are dealing with and how much you plan to deposit. It largely depends on the bank's policy and the type of account you are opening, as well as how profitable it is for the bank.