- →
-
Contact Form
-
A business bank account in the Netherlands is opened in the name of a company registered with the Kamer van Koophandel (KVK), here a besloten vennootschap (BV). The European Central Bank supervises the largest Dutch banks directly, with De Nederlandsche Bank (DNB) in the joint supervisory teams, and DNB names ING, Rabobank and ABN AMRO among them. Smaller banks are supervised by DNB itself; bunq is on the ECB’s list of less significant institutions. DNB also monitors banks’ efforts against money laundering, while the AFM, the Dutch Authority for the Financial Markets, supervises their conduct.
DNB runs the Dutch deposit guarantee scheme. At a bank with a Dutch banking licence it protects deposits in current and savings accounts up to EUR 100,000 per person, per bank, business accounts included. Because a BV is a legal entity, DNB protects its balance separately from its owners’ private accounts, whereas a sole trader’s business and private balances are added together. Government organisations and financial firms are the only account holders left out. The temporarily higher cover for events such as selling a home applies only to natural persons, not to a BV, and money at a Dutch branch of a foreign bank is protected by the scheme of that bank’s home country.
The bank no longer stands at the start of a Dutch incorporation. Article 2:203a of the Civil Code, which required a bank’s statement on capital paid in cash at incorporation, lapsed on 1 October 2012, and business.gov.nl puts the starting capital of a BV at a minimum of EUR 0.01. The notary executes the deed, registers the BV and its directors in the KVK Business Register and enters the ultimate beneficial owners (UBOs) in the UBO register. Only then does a bank come in: ING says that only companies registered with the Chamber of Commerce can apply and that an account for a BV still being incorporated is not possible. Company law does require the statutory seat to be in the Netherlands.
| Bank | Supervision | Route and identification | Owners and directors abroad |
|---|---|---|---|
| ING | ECB, with DNB | Online in most cases; some applicants must visit an ING branch | The company must be KVK-registered and fully incorporated; ING checks the BKR credit register; no residence rule stated |
| ABN AMRO | ECB, with DNB | Online request, identification in the ABN AMRO app, digital signature | Asks for valid ID, the KVK number and the purpose of the account, and registers the UBOs; no residence rule stated |
| Rabobank | ECB, with DNB | Online, with an ID and face scan in the Rabo App, only for a sole proprietorship or a one-owner BV | The owner applying online must live in the Netherlands; anyone else has to contact the bank |
| bunq | DNB | In the app, after a verified personal bunq account | Directors must live permanently in the EEA and no UBO or non-executive may live outside it; at most three ownership layers, or four in a straight line |
For a BV run from outside the Netherlands the online routes narrow quickly: Rabobank’s needs an owner living in the Netherlands and bunq’s a board and UBOs in the EEA. ING and ABN AMRO publish no residence rule, so there the outcome rests on the bank’s review of the file.
KVK’s own checklist lists what a bank usually asks a BV for:
bunq adds the IDs of directors and UBOs and the directors’ proof of residence, and may ask for audited accounts, tax and VAT returns and evidence of the source of funds. One Dutch detail catches applicants out: if the visiting address is shielded in the Business Register, KVK warns, online opening may fail and the bank will ask extra questions as part of its mandatory due diligence.
Dutch company law sets no residence or nationality rule for a BV’s shareholders or directors: a single non-resident may hold every share and act as sole director, and the notarial deed can be signed by power of attorney. The limits come from bank policy. Rabobank’s online route requires the owner to live in the Netherlands, bunq requires directors who live in the EEA, and ABN AMRO identifies directors through its own app and sends a new director’s debit card to the company’s business address, not to a private one. The checks themselves are a legal duty: KVK describes the banks’ gatekeeper role under the anti-money laundering law, a duty that continues after the account opens.
A refused applicant can try another bank, complain to the bank or go to court, according to the government’s guidance.
A Dutch IBAN has 18 characters: NL, two check digits, a four-letter bank code and ten digits set by the bank. Accounts are held in euros and the Netherlands is inside SEPA, so euro transfers to the other SEPA countries work as they would at home. For trade in other currencies, bunq says its business accounts can hold and exchange 20 currencies.
The account belongs to the BV, so it stays with the company when the shares change hands; what changes is that the bank re-runs its due diligence on the new owners, directors and signatories and may keep the account, ask for more documents or close it. ABN AMRO’s published procedure for a change of directors shows what that involves: it first checks that the change has been reported to the KVK, identifies new directors through its app, has the amended contract signed digitally through iDIN, which needs a personal card from a Dutch bank, or through ZealiD, and says the whole process can take about 30 days. A ready-made Dutch BV is already registered with the KVK, while a new BV reaches a bank only after the notary has registered it. We can supply either and help prepare the bank application; whether an account is opened or kept is for the bank alone. See our guide to shelf companies with bank accounts and the Netherlands hub.
For a BV registered with the KVK, the law allows it: company law sets no residence rule for shareholders or directors. Bank policy decides. Rabobank opens online only for a sole proprietorship or one-owner BV whose owner lives in the Netherlands, bunq requires directors and UBOs living in the EEA, and ING says some applicants must visit a branch. ABN AMRO publishes no residence rule.
Not at ING, which says an account for a BV or NV still being incorporated is not possible and that only KVK-registered companies can apply. The law does not need one: since 1 October 2012 a BV needs no bank statement on its capital, which business.gov.nl puts at a minimum of EUR 0.01. The notary registers the company with the KVK first.
The law requires the BV’s statutory seat to be in the Netherlands, but not a Dutch home for its directors. Banks look further: Rabobank’s online route needs an owner living in the Netherlands, ABN AMRO sends a new director’s debit card to the business address, and KVK warns that a shielded visiting address can stop an online application.
Yes, at a bank with a Dutch banking licence, such as ING, ABN AMRO, Rabobank or bunq. DNB protects deposits up to EUR 100,000 per person, per bank, and a BV’s balance is protected separately from its owners’ private accounts. Government organisations and financial firms are excluded, and the temporarily higher cover for events like a home sale applies only to individuals.
KVK’s checklist for a BV: the articles of association, the shareholders’ register, the KVK number, a KVK UBO register extract or the KVK confirmation letter with the UBO details, a list of countries for foreign transactions and sometimes a Business Register extract. ABN AMRO also asks about the purpose of the account, and bunq wants the directors’ proof of residence.
That depends on the bank accepting you. The account belongs to the BV and stays with it after the share transfer, but the bank re-runs its due diligence on the new owners, directors and signatories and may keep the account, ask for more documents or close it. ABN AMRO says its process for a change of directors can take about 30 days.