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The National Bank of Belgium supervises the less significant banks, while significant ones fall to the European Central Bank; the ECB’s list covers KBC, Belfius, Argenta, Crelan, BNP Paribas Fortis and ING Belgium. The Guarantee Fund (Fonds de garantie, Garantiefonds) repays protected deposits up to EUR 100,000 per person and per institution. Its FAQ includes companies whatever their status or size and excludes financial sector companies, the State and other public authorities; electronic money is outside the cover.
The FPS Economy states that anyone starting a self-employed activity, whether as a sole trader or through a company, must open a sight account with a bank or other financial institution and print its number, with the enterprise number, on letters and invoices. For an SRL, cash contributions paid at the deed must first be deposited in a special account opened in the name of the company in formation at a credit institution established in the European Economic Area, and proof of the deposit goes to the notary (article 5:9 of the Code of Companies and Associations). Only people entitled to bind the company can use the money, and only after the notary has told the bank the deed was signed; if the company is not formed within a month of the account opening, the depositors can have it back.
ING Belgium lists three things for opening a business account online: a Belgian ID or itsme, the enterprise number from the Crossroads Bank for Enterprises with an overview of the ultimate beneficial owners for a company, and the NACE code of the activity. It also lets companies in establishment open an account before incorporation. KBC likewise opens business accounts online through itsme. Without a Belgian identity card or itsme, a director falls outside both published routes and must agree identification with the bank.
Belgian law gives a refused company a fallback: any enterprise established in Belgium and registered with the Crossroads Bank for Enterprises, or applying to be, can ask the Basic Banking Service Chamber at the FPS Economy for an account once three banks have refused it, or two have refused and an existing account is being closed. A bank that does not answer within 15 working days counts as refusing. The file includes criminal record extracts under three months old for the company, its directors and its managers.
The Chamber refuses after a conviction for fraud, money laundering or similar offences in the past five years, or a sanctions listing; otherwise it designates one of the systemic banks, which for 2024 were BNP Paribas Fortis, KBC, Belfius, ING Belgium, Argenta and Crelan, within 60 calendar days. The result is a euro sight account with a debit card and no overdraft, and a US dollar account can be added where the designated bank offers one to its customers.
A Belgian IBAN is 16 characters long: BE, two check digits, a three-digit bank code, a seven-digit account number and two final check digits. Belgium is in SEPA.
If you buy a ready-made Belgian company that already banks somewhere, the account stays in the company’s name; the bank’s task is to identify the new owners, directors and signatories, and depending on what it finds it carries on, asks for further evidence or terminates the account. Keeping it is neither guaranteed nor ruled out. A new Belgian company starts with the special capital account before the deed. SC24 can hand over a ready-made company or form a new one, prepare the application with you and introduce you where one of our working contacts is at a suitable bank, but only the bank decides. Read more in the guide to shelf companies with bank accounts or on the Belgium page.
The law does not stop you: Belgian company law sets no residence or nationality test for directors or shareholders. The obstacle is identification. ING’s online opening needs a Belgian ID or itsme and KBC’s runs through itsme, so a director abroad without either has to agree another identification method with the bank. A non-EEA director who will actually work in Belgium also needs a professional card.
No. Article 5:9 of the Code of Companies and Associations requires cash contributions to be deposited before the deed in a special account, opened in the name of the company in formation, at a credit institution established anywhere in the European Economic Area. The proof of deposit goes to the notary, and the money is released only once the deed has been signed.
Apply for the basic banking service. A company established in Belgium and registered with the Crossroads Bank for Enterprises can ask the FPS Economy’s Basic Banking Service Chamber for an account after three refusals, or two refusals plus the closure of an existing account. The Chamber checks for recent fraud or money laundering convictions and sanctions listings, then designates one of the systemic banks.
Yes. The Guarantee Fund repays up to EUR 100,000 per person and per institution, and its FAQ covers companies of every status and size. Deposits of financial sector companies, the State and public authorities are excluded, as are a failed bank’s own directors and auditors. Electronic money is excluded too.
ING’s list is short: identification of the person opening the account by Belgian ID or itsme, the enterprise number from the Crossroads Bank for Enterprises, an overview of the ultimate beneficial owners and the NACE code describing the activity. A company being formed also brings the special capital account, and the beneficial owners it declares should match its own UBO register filing.