Why you need a bank account in Germany
A bank account in Germany is not an optional formality for your GmbH. The minimum share capital is €25,000, and at least half of it (€12,500) must be paid in at the time of incorporation. That deposit must be evidenced before the notary with a bank receipt (Einzahlungsbeleg) issued by a bank with a German IBAN.
That same capital deposit account later becomes the company's operating account: from it you will pay suppliers, collect from customers and settle taxes. That is why it is worth choosing it well from day one.
KYC requirements to open the account
The onboarding is completed with an identity verification, which at neobanks is done by video call in minutes. Traditional banking may require an in-person signature or apostilled documentation.
Key points
- Valid passport or ID of the director and the shareholders
- Recent proof of address (bill or statement)
- Commercial register extract (Handelsregisterauszug)
- Company articles of association (Gesellschaftsvertrag)
- German tax identification number (Steuernummer)
- Power of attorney if a representative signs on your behalf
Traditional banks vs neobanks
In Germany there are two ways to open your company account. Traditional banking (Deutsche Bank, Commerzbank, Sparkasse) offers physical branches and in-person service, but the opening processes are slower and usually require travelling.
Neobanks are today the most practical option for a Spanish SME: N26 Business, Finom, Qonto or Kontist operate 100% online, issue a German IBAN and let you open the account by video call from Spain. Finom also includes invoicing, expense management and accounting integration, designed for companies starting to operate in Germany.
Key points
- Neobanks: opening in days, no physical presence, German IBAN
- Traditional banking: branches and in-person service, slower process
- Finom and N26 Business: integrated invoicing and accounting
Do you need to travel to Germany?
No. Thanks to video call verification, the account is opened without setting foot in the country. We prepare the documentation and coordinate the remote identification with the bank, which activates the account before the company is registered.
This removes one of the biggest barriers to internationalisation: travel. The proof of capital payment is documented and sent to the notary on time, with no need to fly over.
Costs and what Filnet does during onboarding
The account is opened as part of the GmbH incorporation process and usually carries a monthly fee. Neobanks offer free or low-cost basic plans for businesses, while traditional banks charge higher maintenance fees.
The bank builds the KYC file from your documents and the account is signed for by the partner or director. At Filnet we prepare the file, review which institution fits your profile and coordinate the appointment; write to us at hola@filnet.app and we will assess it with you.
