Step Five: Opening a bank account

For a BV, no minimum capital requirement applies anymore, and hence, the BV does from a legal perspective no longer require a (Dutch) bank account.   

During the last couple of years, banks have become more stringent with regard to the procedure for opening a bank account. It is required that the directors attend to the bank in person, identify themselves and fill out the necessary forms.

We have good contacts with the major international banks in the Netherlands (like ING, ABN-AMRO, Rabobank) and we can coordinate this procedure for our clients. In most cases, we can open a bank account instantly during the visit, however, this depends on the corporate structure and the nationality of the client. We also work with banks outside the Netherlands, which can offer full banking facilities, and are more familiar with international structures. As mentioned, there is no legal requirement to have a Dutch bank account, and although our primary goal is to open a bank account in the Netherlands, it should be considered to have a contingency plan (such as a Swiss bank). Even if it’s just a temporary solution, especially when you are in a hurry to perform certain transactions. 

How to open a Dutch (corporate) bank account

The opening of a Dutch corporate bank account can be challenging.  There is no legal requirement to open a Dutch bank account, so in case your Dutch company has no strong economic relationship yet with the Netherlands yet (such as a physical presence, staff, customers, etc.), we suggest that you consider using an overseas IBAN (for example at your current overseas bank) until you have a certain track record.  Dutch banks, like ING, do open corporate bank accounts, even for brand-new companies. Alternatively, we can introduce you to online banks (EMIs), which offer online banking and debit card facilities. Typically such an online ‘bank’ account can be opened remotely.

This guide is part of Company Formation in our Launch Guide.