If you are planning to start a business in The Netherlands, you are likely to deal with a Dutch bank to cover your banking needs. Although the opening of a Dutch corporate bank account is not a legal requirement for Dutch companies, most entrepreneurs prefer to open a Dutch bank account. More and more entrepreneurs, who manage their Dutch company from overseas, deal with overseas banks, due to strict client acceptance protocols by the Dutch banks. The Dutch banks might insist in a visit to the Netherlands (of the directors), or might have the acceptance policy to only open bank accounts for companies that have an actual physical representation in The Netherlands.
Even during the Corona situation, banks insist in meeting the directors in person, except for Bunq bank. Some European banks (Estonia, Latvia, Switzerland, Lithuania, Poland) can open bank accounts remotely, without required visit.
When you are planning to start a Dutch business, and open a Dutch bank account, you should consider the information below.
Who/what needs to be identified and verified?
The legal entity (BV)
The (ultimate beneficiary) owner(s) (UBO)
Which documents are required?
Legal entity (BV)
1: a (concept) deed of incorporation drawn up by a civil-law notary with office in the Netherlands. A concept is only accepted in case the BV is 'in oprichting' (being established).
2: a verified and certified copy of the passport of the director (s) and legal representatives mentioned in the deed of incorporation.
3: a notary document stating the address of the director (s) in their country of origin. This is applicable for all directors who are not yet registered with the Dutch authorities as a resident of the Netherlands.
The legal entity (parent company) and persons who own or control at least 10 percent of share capital or voting rights (ultimate beneficial owner(s)) should be identified in the following way:
4: a certified copy of the Company License of the parent company showing the latest annual review status
5: a certified copy of the latest Memorandum and Articles of Association, including all revisions
6: Business registration certificate
7: An organizational chart, submitted and signed by the director of the entity or legal representative, showing all intermediate businesses. This chart must show which ultimate beneficial owners are involved in this business and representing what percentage of ownership.
8: A verified and certified copy of the passport of the ultimate beneficial owners who own or control at least 25 percent of share capital or voting rights. In the case that the UBO does not have a passport, a notary document stating / proving the person's identity is required.
9: All individual owners need to provide a notary document stating their addresses in their country of origin.
Identification and verification can be carried out in the following manner:
by presenting the required documents to a bank employee responsible for the identification and verification of these documents:
or by having the documents verified and certified by a civil-law notary
or by having the documents verified and certified at the Dutch Embassy or the Dutch Consulate in one's country of origin
Please note that all required documents mentioned above need to be accompanied by an official English translation.