Opening a Bank Account in the Czech Republic for a Foreigner

The banking system of the Czech Republic is one of the most stable and regulated in Central Europe, demonstrating a high degree of integration into the European financial space. The Czech Republic offers a balanced model of the banking sector, combining reliability, effective supervision and a variety of financial products for both individuals and companies.

Central bank and regulatory role

The key role in the regulation and supervision of the Czech financial market is played by the
Czech National Bank (Česká národní banka, ČNB). It acts as the central bank and the main prudential supervisory authority for banks, investment companies, insurance organisations and non-bank financial institutions. Under Czech law and European directives, the ČNB is responsible for:

• Licensing of banks and other credit institutions
• Monitoring the liquidity and solvency of banks
• Managing the country’s foreign exchange reserves
• Ensuring the stability of the financial system
• * Participation in European Financial Supervisory Cooperation: The Czech National Bank is a member of the European System of Central Banks (ESCB) and participates in European financial regulatory cooperation, including cooperation with the European Banking Authority (EBA) and the European Central Bank (ECB).

  However, the Czech Republic is not a participating Member State in the Single Supervisory Mechanism (SSM), as it has not adopted the euro or entered into a close cooperation arrangement with the ECB under the SSM framework.

  Consequently, the Czech National Bank remains the principal prudential supervisory authority for Czech banks, including institutions that would be classified as significant under the criteria applied within the SSM.

  The classification of a banking institution as systemically important does not automatically transfer its direct supervision to the ECB where the institution is established in a non-participating Member State.

  Czech banks remain subject to applicable EU prudential legislation, including the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD), as implemented where relevant through Czech legislation.

Structure of the banking sector in the Czech Republic

The following categories of banking institutions are currently operating in the Czech Republic:

1. Commercial banks – the most common type of credit organisations. Both local banks and subsidiaries of foreign banks, primarily Austrian, German and French financial groups, operate in the Czech Republic.

2. Branches of Foreign Banks: Banks authorised in other EU or EEA countries may provide banking services in the Czech Republic through a branch or on a cross-border services basis under the applicable European passporting framework.

   Establishing a branch and providing services without a local establishment are legally distinct forms of cross-border activity.

   An EU or EEA credit institution generally does not need a separate Czech banking licence to conduct activities covered by its home-state authorisation, provided that the applicable notification and passporting requirements have been fulfilled.

   A branch established in the Czech Republic must comply with relevant registration, disclosure and host-state regulatory obligations.

   Branches of banks established outside the EU or EEA are subject to different authorisation requirements and may need a licence from the Czech National Bank.

3. Specialised savings institutions and building savings banks (stavební spořitelny) – provide long-term deposits and housing loans.
4. Co-operative banks (družstevní záložny) – limited in scope of operations and usually serving a limited number of customers.

Key players in the market

The largest banks in the Czech Republic include:

• Česká spořitelna (part of the Erste Group, Austria) – the largest bank by number of customers.
• ČSOB (part of KBC Group, Belgium) – active in the corporate segment.
• Komerční banka (part of Société Générale, France) – an important player in trade finance.
• Raiffeisenbank a.s. is a subsidiary of Austria’s Raiffeisen Bank International.
• UniCredit Bank Czech Republic and Slovakia is an Italian bank holding company with a strong presence in the region.

Opening a bank account in the Czech Republic for a foreigner

It is possible for individuals and companies – both residents and non-residents – to open an account, but you should take into account the increasing requirements under AML/CTF (anti-money laundering and combating the financing of terrorism), including:

• provision of full information on beneficiaries;
• justification of economic presence (in the case of companies);
• verification of the source of origin of funds;
• verification through video identification or face-to-face presence (depending on the bank and the client’s status).

For legal entities, having a local director, lease and tax number (DIČ) often simplifies the account opening procedure.

Banking services and digitalisation

Czech banks offer a wide range of services:

• corporate and personal current accounts;
• investment and foreign currency accounts;
• lending to businesses and individuals;
• acquiring and POS solutions;
• online and mobile banking;
• integration with APIs within PSD2 (including Open Banking capabilities).

Czech banks provide extensive digital banking functionality, including online payments, account management, electronic document processing and mobile banking services.

However, the ability to open an account remotely depends on the applicant’s identification documents, country of residence, customer status and the bank’s onboarding procedures.

Foreign nationals and non-resident companies may be required to complete additional identity verification or attend a physical bank branch.

For example, certain Czech banks offer remote account opening only to applicants who possess supported identity documents and an existing account with another Czech bank.

Under Act No. 253/2008 Coll. on Certain Measures against the Legalisation of Proceeds from Crime and Financing of Terrorism, banks must conduct customer identification and due diligence before establishing a business relationship.

Permitted identification procedures may include face-to-face verification, recognised electronic identification and other legally approved methods.

The availability of digital banking technology does not eliminate these requirements or guarantee that a foreign applicant can open a Czech bank account without visiting the country.

Currency regulation and cross-border transactions

The Czech Republic is a member of the EU but is not part of the Eurozone. The national currency remains the Czech crown (CZK). However, most banks are active with the euro and other major currencies, offering multi-currency accounts and international transfers via SEPA and SWIFT. The Czech Republic generally permits cross-border payments and capital movements in accordance with applicable Czech and European Union legislation.

However, cross-border financial transactions remain subject to anti-money laundering requirements, international sanctions, tax reporting obligations and applicable statistical reporting rules.

Banks may request documentation explaining the purpose of a payment, the relationship between the parties and the source of funds.

Financial institutions must also comply with applicable customer due diligence, transaction monitoring and suspicious transaction reporting obligations under Czech Act No. 253/2008 Coll.

These AML/CFT obligations should not be described as a general system of foreign exchange controls or as a universal declaration requirement for every international payment.

Certain transactions may also be subject to reporting requirements administered by the Czech National Bank or other competent authorities, depending on their nature and the parties involved.

The availability, execution time and cost of international transfers depend on the payment currency, destination, banking arrangements and applicable regulatory restrictions.

Banks and cryptocurrency projects

As of October 2026, Czech banks assess applications from cryptocurrency businesses under the applicable banking, anti-money laundering and crypto-asset regulatory frameworks.

Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) became fully applicable on 30 December 2024, and the maximum transitional period for previously operating crypto-asset service providers expired on 1 July 2026.

For companies providing regulated crypto-asset services, banks may request:

Evidence of valid MiCA authorisation or another applicable legal basis for providing the proposed services;

Details of the authorised legal entity and the scope of its permitted activities;

Information about shareholders, beneficial owners and management;

A description of the company’s business model, customers and geographical markets;

AML/CFT policies, customer due diligence arrangements, transaction monitoring procedures and sanctions controls;

Evidence of the source of funds and the expected nature and volume of transactions;

Information concerning customer asset safeguarding and operational risk management.

The anti-money laundering framework applicable in October 2026 includes Czech Act No. 253/2008 Coll., relevant provisions of Directive (EU) 2015/849 as amended, and applicable EU legislation concerning transfers of funds and crypto-assets.

The new EU Anti-Money Laundering Regulation, Regulation (EU) 2024/1624, will generally become applicable on 10 July 2027.

There is no universal banking procedure formally described as an “AMLD5/6 compliance check”. Banks apply risk-based customer due diligence under the legislation currently in force.

Banks still assess each crypto project individually and may refuse to open an account without explanation, citing internal risk assessment procedures.

Deposit guarantees and investor protection

Eligible bank deposits in the Czech Republic are protected under the applicable statutory deposit guarantee arrangements.

The Czech Deposit Insurance Fund (Fond pojištění vkladů), administered by the Financial Market Guarantee System (Garanční systém finančního trhu), generally protects eligible deposits held with participating banks, building savings banks and cooperative credit unions.

The standard coverage limit is EUR 100,000 per depositor, per insured institution, including accrued interest, subject to applicable statutory conditions.

Deposits held in Czech koruna and eligible foreign currencies are covered, but compensation for deposits held with Czech institutions is generally paid in Czech koruna using the applicable exchange rate.

In certain circumstances involving temporarily high account balances, such as proceeds from the sale of a residential property, inheritance or qualifying insurance payments, eligible individuals may receive additional protection of up to EUR 100,000, resulting in potential total coverage of EUR 200,000.

Branches of banks authorised in other EU or EEA Member States are generally covered by the deposit guarantee scheme of the bank’s home country rather than automatically by the Czech Deposit Insurance Fund.

Deposit protection does not apply universally to all financial products. Securities, investment instruments and certain other excluded deposits are not covered by the standard bank deposit guarantee scheme.

The banking system of the Czech Republic is stable, highly capitalised and technologically advanced. For foreign investors and entrepreneurs, the Czech Republic offers a favourable legal environment, integration with the EU, access to reliable banking services, and potential support for innovative and digital businesses. However, when engaging with banks, special attention should be paid to preparing for compliance audits, transparency of the corporate structure and demonstrating the legality of the origin of funds.

The largest banks in the Czech Republic by number of customers

Best bank for foreigners in Czech Republic

Opening a bank account in the Czech Republic for a foreign citizen or a legal entity is possible subject to a number of formal requirements, defined both by Czech law and the European Union’s legal acts in the field of anti-money laundering and countering the financing of terrorism (AMLD). The rules for opening an account differ depending on the status of the applicant – natural or legal person, EU or third country citizen, as well as on the purpose of opening an account and the expected financial activity of the client.

Foreign individuals, including EU residents and third-country nationals, may open a personal bank account in most Czech banks, but the scope of checks and the list of documents will vary depending on citizenship, place of residence and length of stay in the country. The basic set of documents usually includes a valid passport or ID card, proof of address (e.g. rental agreement or utility bill), and, if necessary, a document certifying the legality of residence in the Czech Republic (visa, residence permit or police registration for EU citizens). In some cases, the bank may request a tax ID of the country of origin, income certificate, employment contract or other documents confirming financial solvency. Additionally, in order to pass internal verification, the client may be asked to provide information about the purpose of opening an account and the sources of origin of funds. The client identification procedure is carried out either by personal visit to a branch or by video verification in banks that support remote verification.

Opening a bank account for a Czech company with foreign founders or for a foreign legal structure registered outside the Czech Republic involves a more complex compliance process. Banks request a complete set of founding documents, including articles of association, extract from the commercial register, decision on the establishment and appointment of governing bodies, as well as documents disclosing the ownership structure and ultimate beneficial owners (UBO). For each participant and member of the management board, the bank will require an identity card, proof of residential address and, if necessary, additional information such as CV, tax number, declarations of sources of funds, descriptions of the business model, as well as evidence of economic activity (e.g. company website, contracts, domain name, etc.).

When assessing a corporate account application, Czech banks may consider whether the company’s registered address, place of management, business premises, employees and commercial activities are consistent with its declared business model.

Supporting evidence may include office agreements, employment contracts, invoices, customer contracts, tax registration documents and other records demonstrating genuine business activity.

However, maintaining a Czech telephone number, appointing a Czech-resident director or registering for Czech VAT does not independently establish eligibility for a corporate bank account.

VAT registration is governed by the applicable tax legislation and should not be obtained merely to improve the appearance of a banking application.

A foreign-owned Czech company may legitimately operate without a Czech-resident director where its corporate structure complies with the relevant legislation.

Banks must assess the application based on the actual business circumstances, beneficial ownership, source of funds, expected transactions and applicable regulatory requirements.

There is no guaranteed method for obtaining approval through the provision of particular local business documents. Banks review such applications individually, paying special attention to the transparency of the structure, the jurisdictions in which the beneficiaries are registered and assessing the applicant’s compliance with the criteria of the internal risk management policy.

In terms of timing, a personal account can be opened in most Czech banks within 1-5 working days after submitting a complete set of documents and undergoing the identification procedure. In the case of corporate accounts, the review and approval period may take from one to several weeks depending on the complexity of the structure and the level of compliance required. With regard to financial terms and conditions, it is worth bearing in mind that banks have the right to set minimum deposit thresholds and to charge foreign clients on a case-by-case basis.

Czech banks may offer accounts to foreign nationals and non-residents, but their eligibility conditions, customer identification requirements and acceptance policies differ.

An important distinction must be made between ordinary commercial bank accounts and payment accounts with basic features.

Under Directive 2014/92/EU (the Payment Accounts Directive), consumers legally resident in the European Union have the right to apply for a basic payment account in an EU Member State, regardless of whether they reside in the country where the bank is established.

This right is subject to the applicable statutory conditions, including anti-money laundering and counter-terrorist financing requirements.

Banks cannot refuse an eligible consumer’s application for a basic payment account solely because the applicant is not resident in the Czech Republic.

Where a bank refuses a basic payment account, the decision must comply with the applicable national and EU legislation concerning permitted grounds for refusal, notification of the decision and access to complaints or redress procedures.

Different rules apply to commercial accounts outside the statutory basic payment account framework, including corporate accounts, premium banking services and certain specialised financial products.

Czech banks may refuse or terminate a business relationship where customer due diligence cannot be completed or where other legally recognised grounds apply.

The outcome of an account application therefore depends on both the customer’s statutory rights and the bank’s regulatory obligations. Professional legal and banking compliance advisers may assist foreign individuals and companies with preparing the documentation required for opening a Czech bank account.

Such assistance may include reviewing corporate records, identifying beneficial owners, preparing explanations of business activities, documenting the source of funds and communicating with the bank regarding its onboarding requirements.

Proper preparation may reduce avoidable administrative errors and help applicants respond to regulatory compliance enquiries more efficiently.

However, account approval remains subject to the bank’s independent customer due diligence and risk assessment procedures.

Engaging an adviser does not guarantee approval, prevent additional document requests or provide preferential treatment under Czech banking legislation.

Thus, the Czech banking system offers foreign individuals and legal entities access to a full range of financial services, subject to transparency, proper identification and compliance with good business practice standards. Opening an account becomes not only a technical procedure, but also part of a broad strategy to establish an economic presence in the European Union.

How to open a Czech bank account for a crypto company?

Opening a bank account in the Czech Republic for a company operating in the virtual asset sector (including crypto exchanges, brokers, custodians and wallet providers) requires compliance not only with the general requirements for legal entities, but also an enhanced compliance approach due to the high-risk profile of the crypto industry from an AML/CFT perspective. Below is a structured and homogenised analysis of the account opening conditions for cryptocurrency companies in the Czech Republic, including legal and practical aspects.

Foreign and local companies registered in the form of s.r.o. (analogue of a limited liability company) can open a corporate account in a Czech bank provided that there is clearly structured documentation, proven economic presence and transparency of all participants in the corporate structure. However, companies dealing with virtual assets must additionally be prepared for enhanced compliance checks for anti-money laundering, counter-terrorist financing and compliance with national and European regulations on cryptoassets.

A key factor is whether the company has the appropriate registration or license (MiCA license in Czech Republic)
 issued under the national law of the Czech Republic or another EU state. If the applicant does not have the status of a registered virtual asset service provider (CASP or VASP), the likelihood of rejection by the bank increases. Confirmation of compliance with AMLD5 rules and (potentially) MiCA requirements serves as the basis to start the application process.

Companies are required to submit a standardised set of corporate documents including articles of association, extract from the Commercial Register, details of the governing bodies, ownership structure with disclosure of ultimate beneficiaries, tax numbers and a description of proposed activities. In addition, banks require a detailed description of the business model, a list of services provided, the jurisdictions in which operations are conducted, a description of the target audience, KYC/AML policies applied, information on partners and counterparties, and justification of the origin of the start-up funds.

Of particular importance is the technical and legal maturity level of the project. Banks perceive favourably the presence of an established internal control and risk management system, compliance with financial monitoring requirements, publicity of project participants, registered domain, professional website with terms of service, privacy policy and terms of use. The presence of a permanent office in the Czech Republic, local employees, VAT registration and contracts with counterparties in the EU are considered as additional confidence factors.

The application procedure usually includes a preliminary interview with company representatives (online or in person), written explanations on a number of issues, and periodic updating of documents during the verification process. If approved, the bank provides a standard corporate account with access to multi-currency transactions, SEPA transfers, SWIFT, and the possibility of integration with APIs within PSD2.

Keep in mind that not all banks in the Czech Republic are ready to serve cryptocurrency companies. The most loyal institutions tend to work with clients through specialised divisions or separate compliance offices. A number of large banks (ČSOB, Raiffeisenbank, Fio Banka) refuse to open accounts for companies that do not have a MiCA-compliant model or are not registered in the Czech Republic. However, there are examples of successful account opening with the assistance of licensed legal intermediaries who accompany the process and represent the interests of the client at the negotiation and application stages.

In practice, opening an account for a cryptocurrency project in the Czech Republic requires the company to comply with the following conditions: legal status and license or registration, transparent structure and professional support from an experienced advisor, understanding of regulatory expectations and readiness for a lengthy compliance process. Cryptoasset banking in the Czech Republic is possible, but requires a high degree of preparation, openness and proper fulfilment of all regulations arising from EU law and national regulation.

Opening a bank account in the Czech Republic for a company operating in the field of virtual assets is a highly complex procedure due to the need to comply not only with standard corporate compliance requirements, but also with the specifics of cryptoasset regulation, which encompasses the provisions of both national legislation and EU-wide acts, including the MiCA Regulation. Czech banks assess such companies as high-risk clients, which requires the applicant to be fully transparent, prove the legitimacy of the business and demonstrate the ability to manage operational and financial risks.

Establishing a Czech legal entity is not a universal prerequisite for opening a corporate bank account in the Czech Republic.

Czech banks may consider account applications from both Czech-incorporated companies and foreign legal entities, subject to their acceptance policies, regulatory requirements and customer due diligence procedures.

For a Czech limited liability company (společnost s ručením omezeným, s.r.o.), incorporation generally involves preparing the constitutive documents, establishing a registered office, appointing one or more managing directors and registering the company in the Czech Commercial Register.

Following registration, the company receives an identification number (IČO).

However, a company may also need a dedicated account for depositing monetary contributions towards its registered capital before completing incorporation. Such accounts are subject to separate bank procedures and documentation requirements.

A foreign company applying for a Czech corporate account may be asked to provide an extract from its home-country commercial register, constitutional documents, information about directors and beneficial owners, tax identification details and evidence of the intended business relationship.

The bank may also request evidence of the company’s connection with the Czech Republic and explanations concerning expected transactions.

The availability of corporate accounts for non-resident legal entities depends on the individual bank’s policies and the outcome of its regulatory and commercial assessment.

As of October 2026, the provision of regulated crypto-asset services in the Czech Republic is governed by Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and applicable Czech implementing legislation.

The Czech National Bank (ČNB) is the competent authority responsible for authorising and supervising Crypto-Asset Service Providers (CASPs).

The transitional period for previously operating virtual asset service providers expired on 1 July 2026. According to the ČNB’s announcement of 19 October 2026, 11 domestic CASPs had obtained authorisation, while businesses without the necessary authorisation were no longer permitted to provide regulated crypto-asset services.

Registration under the previous national trade licensing or AML framework does not replace MiCA authorisation. Similarly, submitting a CASP application or preparing a licensing plan does not independently permit the provision of regulated crypto-asset services.

Certain already-authorised financial institutions may provide specified crypto-asset services under the notification framework established by Article 60 of MiCA.

When evaluating a cryptocurrency company’s application for a bank account, Czech banks should verify the applicant’s regulatory status, ownership structure, authorised activities, business model, transaction risks and AML/CFT compliance arrangements.

MiCA authorisation does not guarantee bank account approval, and a bank must conduct its own risk-based assessment before establishing a business relationship.

In order to apply to the bank, a comprehensive package of documents must be prepared. It includes: an up-to-date extract from the Commercial Register, articles of association, the decision on the appointment of the director, a list of ultimate beneficial owners (UBO) with attached identity cards and proof of residential addresses, and tax numbers. Additionally, banks require a detailed description of the business model, list of services provided, jurisdiction of operation, characterisation of the customer base, description of internal KYC/AML procedures, information on counterparties, token structure (if applicable), as well as confirmation of the legality of the origin of funds planned to be deposited in the account.

In order to strengthen the bank’s credibility, it is recommended to provide information on the existence of a local office, lease agreement, Czech phone number, VAT registration, contracts with clients or suppliers in the European Union. Significant importance is attached to the quality of documentation: the existence of internal anti-money laundering policies, risk management protocols, customer identification and reporting policies are perceived as a necessary element of corporate governance.

The selection of a banking institution for a cryptocurrency business should be based on its current acceptance policies, regulatory requirements and ability to support the applicant’s proposed activities.

Historical references to Expobank CZ as a potential banking provider are outdated. Expobank CZ was renamed Max banka in October 2022 following its acquisition by the CREDITAS group. Max banka subsequently merged with Banka CREDITAS on 1 October 2024 and ceased to exist as a separate legal entity.

Consequently, Expobank and Max banka should not be listed as independent banking options in 2026.

The willingness of Banka CREDITAS, J&T Banka, UniCredit Bank or any other Czech banking institution to open an account for a crypto-asset business must be verified directly with the relevant bank.

Approval depends on the applicant’s MiCA authorisation status, beneficial ownership, source of funds, operational arrangements, geographical exposure and the bank’s individual risk assessment.

Historical examples of successful account openings do not establish a general acceptance policy or guarantee that similar applicants will be approved. Czech banks apply different risk acceptance policies to cryptocurrency-related businesses.

However, it is not accurate to categorically state that ČSOB, Fio Banka, Raiffeisenbank or Air Bank generally refuse all companies operating in the crypto-asset sector without reference to current, verifiable bank policies.

The treatment of a cryptocurrency business depends on the specific activities performed, regulatory authorisation, ownership structure, customer base, transaction volumes and the bank’s assessment of financial crime and operational risks.

A MiCA-authorised crypto-asset service provider may be assessed differently from an unlicensed business, an issuer of crypto-assets, a proprietary investment company or a provider of blockchain software.

Banks must apply customer due diligence requirements and their internal risk management policies when considering such applications.

Professional legal advisers may assist applicants with preparing documentation, explaining regulatory requirements and responding to compliance enquiries.

However, the involvement of a law firm or intermediary does not guarantee a favourable banking decision and does not replace the bank’s independent assessment.

After the application is submitted, an internal verification procedure is carried out, including both remote and face-to-face verification, an interview with a company representative, and, if necessary, the provision of additional explanations and documents. The procedure may take from two to six weeks, depending on the complexity of the structure and the level of preliminary preparation. In case of a favourable decision, a corporate current account is opened with the possibility of performing transactions in CZK, EUR and other currencies, connection to SEPA, SWIFT, internet and mobile banking, as well as further integration with the API based on PSD2.

It should be taken into account that each bank reserves the right to refuse to open an account without giving reasons, based on internal risk assessment. Therefore, companies operating in the crypto industry should approach the account opening process as an element of strategic planning, ensuring compliance with all transparency, governance and legal integrity requirements of the European banking sector.