Lifetti.com’s German business team has walked founders through GmbH, UG and Freiberufler setups in Berlin, Munich and Hamburg. This guide is the 2026 sequence German banks and notaries expect — including the two register entries that quietly decide how fast your account is approved.
What you need to know first
- For a GmbH the account is a legal requirement: §7(2) GmbHG says the capital must sit in a company account before the register court will enter the company.
- Minimum GmbH share capital is €25,000, with at least €12,500 paid in at registration. A UG starts from €1 but must be fully paid in cash.
- The account is opened for the "GmbH i.G." using the notarised deed — you do not wait for the Handelsregister extract.
- Beneficial owners above 25% must be in the Transparenzregister. A missing entry is the single most common cause of stalled onboarding.
- Freelancers are not legally obliged to have one, but German banks' private-account terms generally forbid business use.
The setup, step by step
- 1
Notarise the company — or register the trade
A GmbH or UG starts at the notary with the Gesellschaftsvertrag (or the standardised Musterprotokoll for simple single-founder setups). A sole trader instead files a Gewerbeanmeldung at the local Gewerbeamt, or registers directly with the Finanzamt if the activity is a Freiberuf.
- 2
Open the account for the "GmbH i.G."
Between notarisation and registration your company exists as a GmbH in Gründung. Banks open an account in that name using the notarised deed — this is the account the share capital goes into, and it is a legal prerequisite, not a convenience.
- 3
Pay in the share capital
§7(2) GmbHG: the capital must be in the company account before the register court will enter the GmbH. Minimum share capital is €25,000, of which at least €12,500 must be paid in at registration. A UG (haftungsbeschränkt) can start from €1 but the full amount must be paid in cash, and 25% of annual profit is reserved each year until it reaches €25,000.
- 4
Register in the Handelsregister and the Transparenzregister
The notary files the Handelsregister application with the bank's proof of payment. Separately, beneficial owners holding more than 25% must be entered in the Transparenzregister — banks check this and an incomplete entry stalls onboarding.
- 5
Identify, then switch the account to operating mode
Managing directors identify by PostIdent at a branch of Deutsche Post or by VideoIdent. Once the Handelsregister extract exists, the bank converts the formation account into a normal Geschäftskonto, and the Finanzamt issues your Steuernummer and, on request, a USt-IdNr.
Lifetti Timing Note
The notary appointment and the bank application can run in parallel. Lifetti’s German advisors tell founders to line up the i.G. account before the notary date so the capital transfer happens the same week — otherwise the Handelsregister filing simply waits on you.
What the bank will ask you for
German onboarding is document-driven and fast once the file is complete — and completely stuck until it is.
- Passport or national ID for every shareholder and managing director
- Notarised Gesellschaftsvertrag or Musterprotokoll (GmbH/UG)
- Handelsregister extract — once registered; the notarised deed is enough for the i.G. account
- Transparenzregister entry for beneficial owners holding more than 25%
- Gewerbeanmeldung (trades) or Finanzamt registration (Freiberufler)
- Steuernummer and, if you have one, the USt-IdNr
- Proof of a German business address — a lease or office contract, not just a mail-forwarding box
- PostIdent or VideoIdent identification for each authorised signatory
Where founders in Germany actually bank
Lifetti’s Verified Comparison, updated July 2026. Terms change often — confirm on the provider's own site before applying.
| Provider | Type | English support | Foreign owners | Best for |
|---|---|---|---|---|
| Deutsche Bank | Traditional | Good in cities | Case by case | Larger GmbHs, credit lines |
| Commerzbank | Traditional | Good | Case by case | SME banking, formation accounts |
| Sparkasse / Volksbank | Traditional (regional) | Usually German only | Branch-dependent | Local trades, cash handling |
| Revolut Business | Fintech | Full app in English | Yes (eligible EEA companies) | Opening fast, cards, low-cost FX |
| Qonto | Fintech | Full app in English | German-registered companies | GmbH i.G. deposits, DATEV export |
| Finom | Fintech | Full app in English | German-registered companies | Invoicing built in |
| Holvi | Fintech | Full app in English | Sole traders and small GmbHs | Freelancers and bookkeeping |
The faster alternative
Revolut Business — open a German business account in minutes
If the traditional route above looks like weeks of paperwork, this is the shortcut most of our founders take first: a full business account you can open online and use the same day, then add a high-street bank later only if you actually need one.
- Fastest route to a working account — apply online in a few minutes, no branch visit and no appointment.
- A country-specific IBAN where Revolut issues one locally — and where it does not, a full SEPA euro IBAN that German clients, the Finanzamt and Lastschrift mandates may not legally refuse (IBAN discrimination is banned under SEPA Regulation 260/2012).
- Start spending instantly with virtual cards issued the moment you are approved — freeze, unfreeze and set limits per card or per team member.
- Cheap transfers: free SEPA payments on the free plan, interbank exchange rates on international payments, and no minimum balance to maintain.
One honest limit for Germany: the §7(2) GmbHG capital deposit has to sit with a provider that will issue proof of payment for the register court, and not every fintech supports GmbH i.G. formation accounts. Confirm that before you rely on one for incorporation — for everyday operating banking afterwards it is a different question entirely.
Open a Revolut Business accountPartner link — using it never costs you more and helps keep our guides free. Plan features and pricing change; confirm on Revolut's site before you sign up.
Open a business account online
Providers you can apply to today, without a branch appointment.
Some links may be partner links — using them never costs you more and helps keep our guides free.
You will need a personal German account too
Salary, rent, health insurance and the Anmeldung paperwork all want a personal German IBAN. See which banks work for newcomers.
Frequently asked questions
Lifetti’s German business advisors answer:
Do freelancers in Germany legally need a business account?
Freiberufler and small traders are not legally obliged to hold one. The practical problem is that almost every German bank's private-account terms prohibit commercial use, so running invoices through a Girokonto risks the bank closing it. It also makes your EÜR and VAT returns much harder to reconstruct.
How much capital does a GmbH really need in the account?
€25,000 is the minimum share capital, but the register court only requires half — €12,500 — to be paid in before registration. The remainder stays a legal obligation you owe the company. A UG starts from €1, must be fully paid in cash, and cannot pay out 25% of its annual profit until it has built capital up to €25,000.
What is a GmbH i.G. account and why does it matter?
"In Gründung" — in formation. Between the notary appointment and the Handelsregister entry the company can already act, and it needs an account to receive the capital. Providers that support i.G. accounts can have you open in a day or two using only the notarised deed; providers that do not will make you wait for the register extract, which is the slower path.
Can I open the account without living in Germany?
The company must be German-registered with a real German address. Non-resident managing directors can identify by VideoIdent with some providers, while PostIdent requires being in Germany. Traditional banks are noticeably more reluctant with non-resident directors; fintech providers are where most foreign founders start.
Why is my application taking weeks?
Usually the Transparenzregister entry is missing or wrong, the address looks like a virtual office, or the bank cannot follow the ownership chain to a real person. Fix those three before applying and German onboarding is fast by European standards.
What does a German business account cost?
Traditional bank accounts typically run from around €10 to €25 a month plus per-transaction charges — booking fees per SEPA item are still common and add up if you invoice a lot. Fintech plans start free or in the single-digit euros with a bundled number of transactions. Compare on transaction volume, not the monthly headline.
About Lifetti
Capital rules, register requirements and bank pricing change. Lifetti.com verifies these details with German notaries and Steuerberater. For a personalised route — GmbH, UG or Freiberufler, and which provider will actually onboard you — use Lifetti’s German business setup service.
Get matched with a Steuerberater or bank contactNote: This page is general information, not legal, tax or financial advice. Capital requirements and bank terms change — confirm with your notary, Steuerberater or the bank before acting.