Opening a German business bank account as a foreigner

For founders incorporating a UG or GmbH, the business bank account is almost always the bottleneck in the whole process. Not the notary, not the commercial register — the bank. KYC checks for non-EU directors routinely take 2–4 weeks, and your company capital can't be deposited until the account exists. Start it early or watch everything downstream wait.

Why the account sits on the critical path

A UG or GmbH is created in a specific order, and the bank is wedged in the middle of it:

1. The notary certifies your articles of association (Beurkundung).
2. You open the company bank account and deposit the share capital.
3. The bank confirms the deposit.
4. The notary files with the commercial register, attaching that confirmation.
5. The company legally exists once the register entry is made.

Critically, the capital must be deposited after the notary appointment, not before — and the register filing can't complete without the bank's confirmation. So a slow account opening delays your company's legal existence.

How much to deposit: a UG requires 100% of its (cash-only) capital; a GmbH needs at least €12,500 of the €25,000 in cash before filing.

Fintech vs. traditional bank

You have two broad options, and for fresh foreign-founded companies they behave very differently.

For most expat founders forming a UG or GmbH, a fintech like Qonto or Finom is the fast path — they're used to fresh formations and non-EU directors and can often issue the capital-deposit confirmation the notary needs quickly.

What the bank will want (KYC)

Expect to provide:

• a valid passport for each director and shareholder
• your notarised articles (or the draft, for an "in formation" account)
• proof of address (your Anmeldung confirmation)
• a clear description of the business and its expected activity

Because KYC for non-EU directors takes time, begin the bank conversation in week one — even before the notary appointment — so the account is ready when the capital needs to land.

The "i.G." stage — and a liability warning

Between notarisation and the register entry, your company exists in a pre-registration state. Its name carries the suffix "i.G." (in Gründung, "in formation"), and the account is opened in that name.

A real risk in this window: if you sign contracts in the company's name before the register entry without the "i.G." marker, you can be held personally liable for them. Until the commercial register confirms the company exists, founders act personally (the Vor-GmbH). Use "i.G." and keep commitments minimal until you're registered.

Don't treat the company account as your wallet

Once you're running, keep a hard line between company and personal money. Unauthorised withdrawals from a GmbH become a verdeckte Gewinnausschüttung (hidden profit distribution) — taxed at both the company and personal level. Pay yourself properly through salary or dividend instead.

Sequencing it well

The smart order for a UG/GmbH founder is: register your address, line up a Steuerberater, open the bank account early, then go to the notary — so that by the time the deed is signed, the capital can be deposited the same week. See the full roadmap for the complete chain, and the GmbH vs UG guide if you're still deciding how much capital to commit.

Informational only — not legal or financial advice. Bank requirements vary; confirm with the provider directly.