Open a Bank Account in Austria as a Foreigner: Corporate Banking Guide
To open a bank account in Austria as a foreigner who owns or runs a company, you need an Austrian business (corporate) account held in the company’s name, opened under the same anti-money-laundering checks every Austrian bank applies. Müller Konsult helps non-resident owners of Austrian GmbHs, FlexCos and shelf companies choose the right bank, prepare the documents, and pass the compliance review, whether you are inside the EU or applying from outside it.
One distinction matters before anything else. This guide is about a corporate account for a company, not a personal expat account tied to an Austrian residence. It also explains where a traditional Austrian bank ends and a fintech EMI (such as N26, Wise or bunq) begins, because the two are not interchangeable for everything a company needs.
What “a business bank account in Austria for a foreigner” means
A business bank account in Austria is an operating account opened in the name of a company, typically an Austrian GmbH, the newer FlexCo, or a ready-made shelf company. It is the account the business uses to receive client payments, pay suppliers and staff, hold its funds, and, at the very start of a company’s life, to deposit its share capital.
Because Austria is in the EU and the SEPA area, the account is a euro account with a standard IBAN and EU-wide SEPA payments. For a foreign owner, the account is what turns a registered company into a trading one: without it, the business cannot really move money. The opening process is run by the bank, but it follows rules that apply to every bank in the country, which is why preparation matters more than picking a “favourite” bank.
Personal vs corporate account, and bank vs EMI
Two different choices get blurred in most guides. The first is whose account it is; the second is what kind of institution holds it.
| Option | What it is | Best for | Limits to know |
|---|---|---|---|
| Personal expat account | In your own name, usually needs an Austrian residence/registration | Living costs, salary | Cannot be the company’s account |
| Corporate bank account (traditional bank) | In the company’s name, full corporate banking | GmbH/FlexCo/shelf company operations | Stricter KYC, sometimes an in-person step |
| EMI / fintech IBAN (N26, Wise, bunq) | E-money account with a euro IBAN | Fast SEPA payments, cards, low fees | Often not accepted for share-capital deposit or full corporate banking |
The practical rule: most foreign company owners want a corporate account at a traditional Austrian bank as the backbone, sometimes alongside an EMI for speed and lower fees. An EMI alone is rarely enough when you also need to deposit GmbH share capital or want the full range of banking services and credibility with Austrian counterparties.
Can a non-resident open an account in Austria?
Yes. Non-residents, including non-EU and US citizens, can open both personal and corporate accounts in Austria. There is no rule that bars a foreigner from holding an Austrian account. What varies is how readily a given bank will approve a given file.
Approval is discretionary and driven by compliance. A bank assesses who you are, who ultimately owns and controls the company, what the business does, and where its money comes from. A clean, well-documented file from a non-resident owner of a legitimate Austrian company is a normal, approvable case. A vague or incomplete one is where applications stall. This is why a foreign owner benefits from preparing the file properly rather than walking into a branch and hoping.
Which banks do foreign company owners use?
Austria has a deep banking market. Foreign company owners most often work with the large universal banks: Erste Bank and the Sparkasse network, Raiffeisen, Bank Austria (UniCredit), and BAWAG. Each has business-account products, English-language service in varying degrees, and its own appetite for non-resident and foreign-owned files.
Alongside them sit the EMIs and fintechs, N26, Wise and bunq among them, which offer euro IBANs, cards and fast SEPA payments, often with lower or no monthly fees.
There is no single “best bank in Austria for foreign company owners”. The right choice depends on your company type, where you and the ultimate owners are resident, whether you need a share-capital deposit, and how much you value branch service versus digital onboarding. We do not endorse or guarantee any specific bank; we match your file to the institutions most likely to accept it.
The documents Austrian banks require
A corporate account needs the company’s full paperwork plus identification of the people behind it. Expect to provide:
- Commercial-register extract (Firmenbuchauszug) showing the company exists and who its directors are.
- Articles of association (Gesellschaftsvertrag) and other formation documents.
- Identification of the ultimate beneficial owners (UBOs) by passport, consistent with the company’s entry in the beneficial-owner register.
- Identification of the managing director(s) (Geschäftsführer) and shareholders.
- A clear description of the business activity and purpose of the account.
- Proof of address for the owners and directors, plus corporate documents and the ownership chain if a shareholder is itself a company.
- Source-of-funds evidence where the bank asks for it.
The single most common reason a foreign file is delayed is missing or inconsistent UBO information. Getting this right before submission is the heart of what we prepare for clients.
KYC and AML: why the checks are strict
Austrian banks are not being difficult for its own sake; they are applying the law. Under the Financial Markets Anti-Money Laundering Act (FM-GwG), in force since 2017 to transpose the EU’s anti-money-laundering rules, a bank must identify the customer and the beneficial owner, verify their identity, and apply ongoing customer due diligence throughout the relationship.
Beneficial-owner data sits in a dedicated register, the WiEReG (Wirtschaftliche Eigentümer Registergesetz), which banks rely on when they check who really controls a company. The whole financial sector is supervised by the Financial Market Authority (FMA). For a foreign owner, the takeaway is simple: the bank will look hard at ownership and control, so a transparent, fully documented ownership structure is the fastest path to “yes”.
How to open the account step by step
Our process is built so a non-resident file arrives at the bank complete and consistent:
- Consultation. We confirm your company type (GmbH, FlexCo or shelf company), the ownership structure, your residency, and whether you need an operating account, a formation deposit, or both.
- Choose bank or EMI. We match a traditional Austrian bank or an EMI to your use case, and flag where an EMI cannot do what you need.
- Assemble documents. We compile the register extract, articles, UBO and director identification, business-purpose description and proof of address.
- KYC and identity verification. The bank runs its FM-GwG checks; this may involve video identification or, for some banks and files, an in-person step.
- Capital deposit, if you are forming. When a new company is involved, the cash share capital is paid into a blocked account and the bank’s confirmation is filed for registration (see below).
- Activation and ongoing use. The bank issues the IBAN, online banking and cards; we help keep your UBO, WiEReG and KYC data current afterwards.
Opening the share-capital account when forming a GmbH
If you are forming a new Austrian GmbH or FlexCo rather than buying a ready-made one, the bank plays a role before the company even exists. The minimum share capital is €10,000, of which at least €5,000 must be paid in cash since the 2024 reform. That cash is paid into a blocked capital-deposit account (Kapitaleingangskonto), and the bank issues a confirmation (Bankbestätigung) that is filed with the commercial register (Firmenbuch). The capital stays blocked until the company is registered, after which the account converts to an ordinary operating account. If you would rather skip this stage, company formation in Austria and buying a ready-made GmbH in Austria are both options we handle.
Opening remotely or from the US
Many foreign owners want to open the account without flying to Vienna. Some Austrian banks and most EMIs offer remote onboarding with video identification, but a number of banks still ask for an in-person meeting for corporate or higher-risk files, especially when the owners are non-resident. We tell you up front which route a given bank is likely to require, so there are no surprises.
US citizens and US-connected owners can open Austrian accounts, but should expect extra questions and reporting tied to FATCA, the US tax-reporting regime that banks worldwide apply to US persons. This is general information, not tax advice; if your situation is complex, take advice on your US filing obligations.
Not sure your file is bank-ready? Tell us your company and ownership setup and we will map the realistic banking options. Talk to our team for a no-commitment review.
- 1. Consultation — We propose the right company and structure for your goals.
- 2. Due diligence — We confirm the company is clean, debt-free and compliant.
- 3. Notarial transfer — Ownership passes to you — remotely if needed (GmbHG §15).
- 4. Setup — Banking, tax, registered address and director are put in place.
Timeline and why a bank can still say no
Opening a corporate account in Austria usually takes anywhere from a few days to a few weeks, depending on how quickly the bank’s compliance team reviews the file and whether an in-person step is needed. A complete, consistent file moves faster; a file with UBO gaps or unclear source of funds is what causes delay.
Be wary of anyone promising a guaranteed account at a named bank. Banks have full discretion and will decline files that do not meet their risk and compliance standards, and no adviser can override that. What we can do is make your file as strong as possible and direct it to the banks most likely to accept it. Honesty here is part of the service: we would rather set the right expectation than make a promise no one can keep.
A shelf company that already has a bank account
There is a shortcut worth knowing. Because banking is the slowest part of starting up for many foreigners, some buyers choose a shelf company with a bank account already in place, so the entity is ready to trade on day one. This is common for owners who need to act quickly or who anticipate a difficult banking review. If you want an Austrian entity specifically, a shelf company in Vienna can be transferred to you and, where available, comes with banking arranged. A local or nominee director can also help satisfy a bank’s local-presence expectations.
- €25,000 — Germany — GmbH
- €10,000 — Austria — GmbH
- CHF 20,000 — Switzerland — GmbH
- CHF 50,000 — Liechtenstein — AG
Bar length is scaled to an approximate EUR equivalent; capital is stated in each country’s statutory currency. Sources: GmbHG §5, Austrian GesRÄG 2023, Swiss CO, Liechtenstein PGR.
Cost: bank fees vs our service
It helps to separate two kinds of cost. The bank’s own charges, a monthly account-keeping fee plus transaction and card fees, are set by each bank and vary widely by package; EMIs often advertise lower or zero monthly fees, which is part of their appeal. The share capital you deposit at formation is not a fee, it belongs to the company and is used in its business.
Our service covers bank selection, document preparation, KYC coordination and remote-onboarding support, with a transparent quote on request rather than a hidden bundle. We do not publish a one-size price because the work depends on your company type, ownership and the route the bank requires. For owners weighing the wider tax and setup picture, see corporate tax in Austria and our Germany vs Switzerland vs Austria comparison.
Why work with a lawyer-led adviser
A bank product page tells you about the bank; it does not get a non-resident file approved. A GmbH is a real legal entity, and the account behind it carries real compliance obligations, so it pays to work with someone accountable. With Müller Konsult you get bank selection grounded in how Austrian banks actually assess foreign files, document preparation that pre-empts the usual UBO problems, KYC coordination with the bank, and a named lawyer behind the work, with a real office and contact details. We also support related steps, from a virtual office in Austria for the registered address to a company with a VAT number and an Austrian residence permit where company ownership supports it. If you are comparing it with the German route, see our guide to a business bank account in Germany.
Frequently asked questions
Can a foreigner open a bank account in Austria?
Yes. Non-residents, including non-EU and US citizens, can open personal and corporate accounts in Austria. There is no nationality bar. Approval is decided bank by bank based on the anti-money-laundering checks the bank must apply to every customer.
Can a non-resident open a corporate account?
Yes. A non-resident owner can open an account for an Austrian GmbH, FlexCo or shelf company, provided the company’s documents and the beneficial-owner information are complete and consistent with the registers.
Which bank is best for foreign company owners?
There is no single best bank. Erste/Sparkasse, Raiffeisen, Bank Austria and BAWAG are the main universal banks; EMIs like N26, Wise and bunq suit fast payments. The right one depends on your company type, residency and whether you need a capital deposit.
Can I open the account online or remotely?
Sometimes. Many EMIs and some banks offer video-ID onboarding, but a number of Austrian banks still ask for an in-person step on corporate or non-resident files. We tell you which route a given bank is likely to require before you start.
What documents do I need?
A commercial-register extract (Firmenbuchauszug), the articles of association, identification of the beneficial owners and managing director, a description of the business activity, and proof of address. The bank applies these checks under the FM-GwG.
Why is the KYC so strict?
Austrian law requires it. Under the Financial Markets Anti-Money Laundering Act (FM-GwG), banks must identify the customer and the beneficial owner, verify identity, and apply ongoing due diligence throughout the relationship.
What is the WiEReG?
The WiEReG is Austria’s beneficial-owner register (Wirtschaftliche Eigentümer Registergesetz). Banks rely on it to confirm who ultimately owns and controls a company, so your register entry should match the documents you give the bank.
Can a US citizen open an account in Austria?
Yes, but expect extra questions and reporting tied to FATCA, the US tax-reporting regime that banks apply to US persons. This is general information, not tax advice; take professional advice on your US filing obligations if needed.
Do I need an Austrian address to open a corporate account?
The company needs a registered office in Austria, which a virtual office can provide. Your own personal residence in Austria is not always required for a corporate account, though some banks weigh local presence in their decision.
Can I deposit my GmbH share capital through the account?
Yes, at formation. The cash capital is paid into a blocked capital-deposit account (Kapitaleingangskonto) and the bank’s confirmation is filed for commercial-register entry. After registration the account becomes an ordinary operating account.
What is the minimum share capital for an Austrian GmbH?
€10,000, of which at least €5,000 must be paid in cash since the 2024 reform. The newer FlexCo has the same €10,000 minimum. The capital belongs to the company; it is not a fee.
Can an EMI or fintech replace a real bank?
For SEPA payments and cards, often yes. For depositing share capital at formation and for full corporate banking and credibility with Austrian counterparties, a traditional bank account is usually still needed. Many owners use both.
How long does it take to open the account?
Typically a few days to a few weeks, depending on the bank’s compliance review and whether an in-person step is required. A complete, consistent file is the single biggest factor in moving quickly.
Can the bank decline my application?
Yes. Banks have full discretion and decline files that do not meet their risk and compliance standards. No adviser can guarantee approval. We make your file as strong as possible and direct it to the banks most likely to accept it.
Does a shelf company come with a bank account?
It can. Some shelf companies are sold with a bank account already arranged, which lets the entity trade immediately and avoids a fresh banking review. We can tell you which options currently include banking.
Does a local or nominee director help with banking?
Often yes. A local managing director can satisfy a bank’s local-presence expectations and ease day-to-day dealings, which is useful for non-resident owners. It is optional and depends on the bank and your structure.
Will I get a euro IBAN and SEPA payments?
Yes. Austria is in the EU and the SEPA area, so an Austrian account is a euro account with a standard IBAN and EU-wide SEPA payments, suitable for trading across Europe.
What ongoing obligations apply after the account is open?
Keep your beneficial-owner (WiEReG) and KYC data current and respond to the bank’s periodic reviews. Separately, the company files its corporate income tax (23%) and VAT (20%) returns; we can support that compliance.
Can you arrange everything for me?
Yes. We confirm your setup, choose the bank or EMI, prepare and pre-check the documents, coordinate the KYC, handle any capital deposit at formation, and support you afterwards. Contact us to start with a review of your specific situation.
Official sources
- Financial Market Authority (FMA), anti-money-laundering legal basis (FM-GwG) — fma.gv.at
- Beneficial Owners Register (WiEReG), Federal Ministry of Finance — bmf.gv.at
- Austrian Business Service Portal (USP) — usp.gv.at
Ready to open your Austrian corporate account?
Contact Müller Konsult for lawyer-led support with Austrian business banking. We assess your company and ownership, choose the right bank or fintech, prepare the documents, and guide you through KYC, from inside or outside the EU. Müller Konsult · Königsallee 27, 40212 Düsseldorf · +49 211 5403 8800 · info@gmbhforsale.com · Request a callback
Reviewed by Stefan Stelthove, Corporate & Commercial Lawyer, Müller Konsult. Last updated 7 June 2026.
Related: Buy a GmbH in Austria · Company formation in Austria · Shelf company with a bank account · Shelf company Vienna · Corporate tax in Austria
