Can I open a bank account remotely in Belgium?

Remote banking in Belgium is possible for both individuals and companies, but the process is more structured than in many other European jurisdictions. Belgian banks operate under strict anti-money-laundering rules and Know Your Customer requirements, which means fully remote onboarding is available only through specific channels and for specific applicant profiles. This guide explains who can open an account remotely, which banks and platforms support it, what documents are required, and where the process typically stalls for foreign applicants.

Remote banking in Belgium refers to the process of opening and operating a bank account without physically visiting a branch in Belgium. The term covers two distinct situations: opening an account through a bank';s digital onboarding portal, and opening an account through a licensed payment institution or electronic money institution that operates under Belgian or EU passporting rules.

Traditional Belgian banks - including the major retail institutions - have historically required in-person identity verification for new clients. This reflects the requirements of the Belgian Anti-Money Laundering Act, which transposes the EU';s Fourth and Fifth Anti-Money Laundering Directives into national law. Under this framework, banks must verify the identity of every client before establishing a business relationship, and they must document the purpose and intended nature of that relationship.

In practice, "remote" onboarding at a traditional Belgian bank usually means the client completes an online application, uploads identity documents, and then completes a video identification call or uses a qualified electronic identity tool. A fully asynchronous process - where no live interaction takes place - is rare among the established Belgian retail banks. Fintech institutions and payment service providers licensed in Belgium or passporting into Belgium from another EU member state offer a more streamlined remote experience, though they come with their own limitations on services and transaction volumes.

The eligibility for remote account opening in Belgium depends on whether the applicant is a natural person or a legal entity, and on the applicant';s residency or registration status.

For individuals, Belgian residents who hold a Belgian national register number or a foreigner';s register number have the easiest path. They can use the itsme digital identity application - a Belgian mobile identity solution recognised by the financial sector - to verify their identity remotely and open accounts with participating banks without visiting a branch. Non-residents face a more restricted landscape. Most traditional Belgian banks will not open personal accounts for non-residents who have no economic connection to Belgium, such as employment, property ownership, or a Belgian company directorship.

For companies, the situation is more nuanced. A Belgian-registered company - a BV (besloten vennootschap / société à responsabilité limitée) or NV (naamloze vennootschap / société anonyme) - is legally required to hold a Belgian bank account before it can be fully activated in the Crossroads Bank for Enterprises (CBE). However, the bank account must be opened before the company is formally incorporated, because the notary requires proof of capital deposit. This creates a practical challenge for foreign founders who are not yet in Belgium.

Foreign companies seeking a Belgian account for operational purposes - for example, to pay Belgian suppliers or employees - face the most restrictive environment. Most Belgian banks require a physical meeting with the ultimate beneficial owners and directors before opening a corporate account for a foreign-registered entity.

Belgian banks operate under the Law of 18 September 2017 on the prevention of money laundering and terrorist financing, commonly known as the AML Law. This law requires obliged entities, including credit institutions, to apply customer due diligence measures before entering into a business relationship. The measures include identifying and verifying the client';s identity using reliable, independent source documents.

The AML Law permits remote identity verification provided the bank applies enhanced due diligence measures when the client is not physically present. In practice, this means the bank may require additional documents, conduct a video call, or use a third-party identity verification service. The National Bank of Belgium (NBB) supervises compliance with these requirements for credit institutions, while the Financial Services and Markets Authority (FSMA) oversees payment institutions and investment firms.

The Belgian framework also incorporates the EU';s eIDAS Regulation, which allows qualified electronic signatures and qualified electronic identity means to be used for remote verification. The itsme application operates under this framework and is accepted by a growing number of Belgian financial institutions as a valid remote identification method. For applicants who do not hold a Belgian eID or a compatible European digital identity, the bank must rely on alternative methods, which typically involve document upload combined with a live video session.

A non-obvious requirement is that banks must also identify and verify the ultimate beneficial owners of any legal entity opening an account. For a Belgian company, this information is registered in the UBO Register (Ultimate Beneficial Ownership Register), which is maintained by the Treasury Administration. Banks are required to cross-reference their client data against the UBO Register and to flag discrepancies. Foreign founders who have not yet registered their beneficial ownership information - or whose home-country structures are complex - often experience delays at this stage.

Scenario one: EU-based founder incorporating a Belgian BV remotely. A German entrepreneur decides to incorporate a BV in Belgium and manage it from Germany. The incorporation requires a capital deposit into a blocked account before the notarial deed is signed. Several Belgian banks and one or two fintech institutions offer a specific "capital deposit account" service that can be opened remotely by non-residents for this purpose. The founder uploads a passport, proof of address, and a draft of the articles of association. The bank conducts a video call to verify identity. Once the notarial deed is signed and the company is registered in the CBE, the blocked account is converted into an operational current account. This scenario works well when the founder is an EU national with a clean compliance profile and a straightforward ownership structure.

Scenario two: Non-EU founder seeking a Belgian operational account for a foreign company. A Canadian company wants to open a Belgian euro account to pay local contractors. The company has no Belgian registration and no Belgian employees. In this scenario, virtually all traditional Belgian banks will decline the application or require the beneficial owners to travel to Belgium for an in-person meeting. Some international banks with Belgian branches may accommodate the request if the company already holds accounts with the same banking group elsewhere, leveraging the group';s existing KYC data. Payment institutions licensed in Belgium may offer a limited account with transaction caps, which may be sufficient for low-volume supplier payments but inadequate for payroll or larger commercial flows.

If you are navigating a complex remote banking situation in Belgium, contact info@vlolawfirm.com. We can help structure the setup correctly the first time.

The document list varies by bank and applicant type, but the following are consistently required across institutions.

For individuals:

• A valid government-issued photo identity document (passport or national ID card).
• Proof of residential address issued within the past three months (utility bill, bank statement, or official correspondence).
• A Belgian national register number or foreigner';s register number, where applicable.
• Source of funds documentation for accounts intended to receive significant deposits.

For legal entities:

• Certificate of incorporation and current articles of association.
• Excerpt from the relevant commercial register (for Belgian companies, an extract from the CBE; for foreign companies, a certified extract from the home-country register).
• UBO Register extract or equivalent beneficial ownership documentation.
• Identity documents and proof of address for all directors and beneficial owners holding more than 25% of the shares or voting rights.
• A description of the company';s business activities and expected transaction profile.
• In some cases, recent financial statements or a business plan for newly incorporated entities.

A common mistake made by foreign founders is submitting documents that are not apostilled or officially translated into Dutch, French, or German - the three official languages of Belgium. While many Belgian banks accept English-language documents in practice, some compliance departments will request certified translations, particularly for documents from non-EU jurisdictions. Preparing apostilled and translated documents in advance significantly reduces processing time.

The Belgian banking landscape includes traditional retail banks, specialised business banks, and a growing number of fintech and payment service providers. The level of remote onboarding support differs substantially across these categories.

Traditional retail banks generally support remote onboarding for Belgian residents using itsme or equivalent digital identity tools. For non-residents and foreign companies, most require at least one in-person interaction, either at a Belgian branch or at a Belgian embassy or consulate abroad in some cases. The process at a traditional bank typically takes between two and six weeks from initial application to account activation, assuming documents are complete and no enhanced due diligence is triggered.

Business-focused banks and some international banks with Belgian operations are more accustomed to handling cross-border corporate account requests. They may have dedicated international desks and more flexible document acceptance policies. Processing times at these institutions can range from one to three weeks for straightforward cases, but may extend to several months if the compliance team requests additional information.

Fintech institutions and electronic money institutions licensed by the NBB or passporting into Belgium under EU rules offer the fastest remote onboarding, often completing the process within one to five business days. However, these accounts typically come with limitations: transaction volume caps, restrictions on cash handling, and the absence of credit facilities. For a company that needs to receive large payments, issue guarantees, or access trade finance, a fintech account is rarely a complete solution.

Many applicants underestimate the importance of the transaction profile declaration. Belgian banks are required to assess whether the expected account activity is consistent with the client';s stated business. An account opened for a Belgian BV that subsequently receives large international wire transfers from jurisdictions the bank considers higher risk will trigger a review, even if the initial onboarding was smooth. Providing a realistic and detailed description of expected transaction volumes and counterparties at the outset reduces the likelihood of a later compliance review.

A common mistake is attempting to open a Belgian corporate account before the company is fully registered and the UBO Register entry is complete. Banks will not finalise account opening for a Belgian entity until the UBO Register filing is confirmed. The UBO Register filing must be made within one month of incorporation, but in practice it is advisable to file immediately after the notarial deed is signed.

Foreign founders often assume that having a Belgian address - for example, a registered office address provided by a formation agent - is sufficient to satisfy the bank';s local presence requirements. In practice, many banks distinguish between a registered office address and an operational address. A bank may request evidence of actual business activity in Belgium, such as a lease agreement, employee contracts, or client invoices, before opening an account for a company whose sole Belgian connection is a registered office.

Finally, many underestimate the impact of the bank';s internal risk appetite. Belgian banks are not legally required to open accounts for every eligible applicant. The Law of 22 March 1993 on the status and supervision of credit institutions gives banks discretion to decline account applications, subject to the right of access to a basic payment account for consumers under the Payment Accounts Directive. For companies, no equivalent right to a basic account exists, which means a bank can decline a corporate application without detailed explanation.

What is the right of access to a basic payment account in Belgium, and does it apply to my company?

The right to a basic payment account in Belgium applies to consumers - natural persons acting outside their professional capacity - who are legally resident in the EU. Under the Law of 9 July 2012 implementing the Payment Accounts Directive, any consumer who meets this criterion is entitled to a basic payment account with a Belgian credit institution, even if they have been refused by other banks. The account covers essential services such as deposits, withdrawals, and payment transactions. This right does not extend to companies or self-employed individuals acting in a professional capacity. A foreign company seeking a Belgian account has no equivalent statutory entitlement and must rely on finding a bank willing to accept its risk profile.

How long does it take to open a Belgian bank account remotely, and what are the main cost drivers?

For Belgian residents using digital identity tools, account opening at a participating bank can be completed within one to three business days. For non-residents and foreign companies, the process typically takes two to eight weeks, depending on the complexity of the ownership structure and the bank';s compliance workload. The main cost drivers are professional fees for document preparation and apostille, translation costs for non-EU documents, and in some cases the fees charged by formation agents for registered office services. Some banks charge an account opening fee for corporate accounts, and monthly maintenance fees for business accounts in Belgium generally fall in the low to mid double-digit euro range. Fintech accounts are often cheaper on a monthly basis but may carry higher per-transaction fees.

Should I use a fintech account or a traditional Belgian bank for my Belgian company?

The answer depends on your company';s operational needs. A fintech or payment institution account is well suited to early-stage companies with modest transaction volumes, straightforward payment flows, and no immediate need for credit facilities or trade finance. It can serve as a bridge while a traditional bank completes its onboarding process. A traditional Belgian bank account is preferable - and in some cases necessary - for companies that need to receive large payments, issue bank guarantees, access overdraft facilities, or work with Belgian public sector clients who require a local IBAN from a recognised credit institution. Many founders open both: a fintech account for day-to-day operations and a traditional bank account for larger transactions and credibility with Belgian counterparties.

Remote banking in Belgium is achievable but requires careful preparation, the right choice of institution, and a realistic understanding of the compliance requirements that Belgian law imposes on banks. The process is most straightforward for EU residents using Belgian digital identity tools and most complex for non-EU founders of foreign companies with no existing Belgian footprint.

VLO Law Firms advises international clients on remote banking and company formation in Belgium. We can assist with document preparation, UBO Register filings, bank selection, and coordination with Belgian notaries and compliance departments. To request a consultation, contact: info@vlolawfirm.com