Built for Small Businesses

Lunar is designed for those running a small business—whether you are a sole trader or have up to 10 employees.

As a regulated bank, we must comply with several requirements. This means we cannot guarantee that every applicant will be granted a business account.

Your chances of getting an account are highest if you match the criteria listed on this page.

What is required to open an account?

When you apply, there are a few questions you’ll need to answer regarding things like startup capital, future plans, and customers.

General Criteria for a Business Account

To qualify for a business account, your company must fit within certain general and legal frameworks:

• Tax Residency: Your company is tax resident in Denmark and has a Danish business number (CVR) and VAT registration.
• Ultimate Beneficial Owners: Your company has beneficial owners (i.e., at least one natural person who owns or controls more than 25% of the company).
• Owner Requirements: As an owner, you must be identifiable and verifiable, have a MitID, be at least 18 years old, and be a tax resident in the Nordic region. If there are multiple owners, this applies to everyone.

Supported Business Types

• EMV – Sole Proprietorship
• PMV – Personally Owned Small Business
• ApS – Private Limited Company
• A/S – Public Limited Company
• I/S – Partnership
• Holding (non-financial)

Is your industry not on the list?

This is not an exhaustive list of all the industries we support. If you can’t find yours, you can still apply. Conversely, there is no guarantee of approval just because your industry is listed.

Why are some businesses not supported?

The banking sector is highly regulated—for good reason. As a regulated Danish bank handling thousands of payments daily, we have a special responsibility for security.

It is our duty to combat all forms of financial crime and ensure that illegal funds do not enter the system. When we make decisions regarding compliance, we must be extra cautious about who we onboard. This is to protect our users, their customers, partners, and society at large.

Individual Assessment: We don't have a simple "yes/no" checklist. Every application is an individual assessment.

Risk Profile: We are better suited for some industries than others, and some sectors simply carry a higher risk. Right now, we choose to focus on the businesses we are best equipped to help.

Do you use cash in your business?

Since we are a digital bank, we are likely not the best match if your business handles a lot of cash. We have no physical branches, so you cannot deposit cash into your account through us. Furthermore, any high-value withdrawals must be documented so we can approve the transaction.

Why we cannot provide a full explanation for rejections

We aim to be as transparent as possible, but if an application is rejected, we cannot provide the exact reason. This is because decisions are based on an overall assessment where internal processes and security rules remain confidential.

When reviewing an application, we look at the company, the purpose of the account, and the business history as a whole.