Banking in Belgium
is a country chosen both by entrepreneurs and by employees. Individuals who want to open a company
or who want to work within the country, will need to open a bank account
for personal or business use. Belgian banks are numerous and offer a wide range of services, suited for foreigners living and working in the country.
Requirements for opening a bank account in Belgium
The process of opening a bank account in Belgium is simple and straightforward. Banks usually require a minimum number of identification documents, like a valid passport or ID, the application form required for opening a new bank account, completed and signed and in some cases proof of domicile.
The procedure to open a new bank account in Belgium varies according to the chosen bank. Some banks in Belgium allow their customers to open their account online. Once the account is open, you will be informed when you can collect your credit cards and other tokens or devices used for online transactions. Banks don’t usually require a minimum deposit upon creating a new bank account. Depending on the services you requested and the facilities offered by the bank, the costs for bank account administration may vary.
If you want to know more about doing business in Belgium,
our lawyers can help you with detailed information about the taxation system in Belgium
Banking facilities for foreigners in Belgium
Some banks in Belgium
offer special types of accounts
or packages for foreigners. Non-residents who live and work outside of Belgium but need to have a bank account
in the country can open a special bank account
that will offer them multi-currency and management solutions adapted to their needs and financial investments in Belgium
Some examples of popular banks in Belgium include: BNP Paribas Fortis, ING, KBC Groep, Beobank, AXXA Bank Belgium or Argenta. The Belgian Post Office also offers banking services and internet banking facilities. Belgium has a large number of bank branches and electronic banking is widespread.