Setting up a corporate account in the Netherlands is one of the essential steps for running a successful business in the country. Whether you’re a foreign entrepreneur launching a Dutch company or expanding your operations into the European Union, having a local bank account streamlines payments, builds trust with Dutch partners, and ensures regulatory compliance.
In this guide, we’ll walk you through the step-by-step process to open a corporate account in the Netherlands, the documents you need, the best banks to consider, challenges non-residents may face, and key tips to make the process smoother, especially for international founders.
Why You Need a Corporate Account in the Netherlands
Opening a business account in the Netherlands is not just a formal step; it’s a legal and operational necessity that supports your business activities in the country. Here’s why every business operating in the Netherlands must have a dedicated corporate account:
- Legal Requirement: Dutch law mandates companies to maintain a separate bank account for business transactions, especially for registered legal entities like a BV or NV.
- Business Credibility: A corporate account enhances your professional image. Clients, suppliers, and partners will be more willing to trust your business.
- Separation of Finances: It’s important to keep personal and business finances separate for accounting and tax compliance.
- Ease of Operations: Daily transactions, such as paying invoices, employee salaries, and taxes, are much easier with a local bank account.
- Tax Filings: Dutch tax authorities expect business-related financial activity to flow through an identifiable business account. This includes VAT, payroll taxes, and income tax reporting.
Who Can Open a Business Account in the Netherlands?
To open a corporate account, you must operate one of the following legally recognised business structures:
- BV (Besloten Vennootschap): This is the most common structure for foreign investors. It limits personal liability and requires formal incorporation.
- NV (Naamloze Vennootschap): This is a public company suitable for large enterprises. It can raise capital through public shares.
- Eenmanszaak: A sole proprietorship, typically used by individual entrepreneurs. It’s quick to register, but doesn’t offer limited liability.
- VOF (Vennootschap Onder Firma): A general partnership with at least two partners.
- CV (Commanditaire Vennootschap): A limited partnership where one partner can remain silent (investor).
Your business must be registered with the Dutch Chamber of Commerce (KVK) to be eligible for a bank account. For foreign companies, additional documentation and compliance steps may be needed.
Step-by-Step Guide to Opening a Corporate Account in the Netherlands
Step 1: Register Your Business
Before opening a bank account, register your business with the Kamer van Koophandel (KVK). After registration, you will receive a unique KVK number and an RSIN (tax identification number).
Step 2: Choose the Right Bank for Your Business
Dutch banks cater to different types of businesses. Your choice may depend on whether you prefer traditional banking, digital-first services, or international transfers. Some of the popular options include:
- ABN AMRO: Ideal for larger businesses or those looking for in-person services.
- ING: A popular choice for SMEs with some digital offerings.
- Rabobank: Known for regional businesses, especially in agriculture and trade.
- Bunq: Fully digital onboarding, perfect for startups and freelancers.
- Revolut Business and N26: International digital banks that cater well to remote business owners.
Step 3: Prepare the Required Documents
While each bank may differ slightly, these are the commonly required documents:
- KVK company registration extract
- Articles of Association or Deed of Incorporation
- RSIN (Dutch tax number)
- Valid passport or ID of all directors/shareholders
- Proof of business address (can be physical or virtual)
- UBO (Ultimate Beneficial Owner) declaration
- Business plan or evidence of business activity (contracts, invoices)
- Proof of capital deposit (for BVs)
Step 4: Apply for an Appointment or Start Online Onboarding
Most traditional banks require in-person appointments, which must be scheduled in advance. Digital banks like Bunq allow for faster, fully online application processes.
Step 5: Initial Capital Deposit
If you’re opening a BV, you must deposit share capital (minimum €0.01, but usually more). This must be done in your corporate account and is a legal requirement for incorporation.
Step 6: Account Activation
After your identity, company structure, and documents are verified, the bank will activate your corporate account. You’ll receive your Dutch IBAN, online banking access, and debit/credit cards if applicable.
Key Considerations When Choosing a Bank
When selecting a bank, think about:
- Digital vs. Traditional: Are you looking for full online access or personalized support?
- Language Support: Some banks provide better services for English-speaking clients.
- Fees and Charges: Monthly service fees, transaction costs, and card fees can vary.
- Ease of Integration: Does the bank integrate with your accounting software or invoicing tools?
- International Transfers: If you work with global clients or vendors, look for low-cost FX features.
Can Foreigners Open a Business Bank Account in the Netherlands?
Yes, foreigners can open a corporate account in the Netherlands, but there are a few conditions:
- Your company must be registered with the Dutch Chamber of Commerce.
- You need to have a Dutch business address (physical or virtual).
- Most traditional banks require at least one director to be present in the Netherlands.
- If you’re applying remotely, opt for digital-first banks like Bunq or Revolut.
Challenges Faced by Non-Residents
Foreign founders often face these hurdles:
- Stringent Compliance Checks: Banks perform detailed KYC (Know Your Customer) and AML (Anti-Money Laundering) checks.
- Language Barriers: While most banks offer English support, paperwork might still be in Dutch.
- Proof of Business Activity: Banks want to ensure your company is not a “shell” and has genuine operations. Contracts, invoices, or a solid business plan can help.
- Physical Presence Requirement: Some banks will not open a corporate account unless the directors are present in the Netherlands.
Alternatives to Dutch Traditional Banks
If traditional banks prove too complex or time-consuming, consider alternatives like:
- FinTech Banks: Bunq, Revolut, Wise Business
- Payment Gateways: Payoneer, Stripe, Adyen (for receiving international payments)
- International Banks: Some global banks with Dutch branches (e.g., HSBC or Deutsche Bank)
These platforms often offer quicker onboarding, multi-currency accounts, and easy integration with e-commerce and accounting tools.
Compliance and Tax Benefits of a Corporate Account
A properly set up business account in the Netherlands enables you to:
- Register for VAT and file returns
- Disburse employee salaries and file payroll tax
- Maintain a clear record for audits
- Manage incoming and outgoing invoices
- Comply with Dutch corporate tax obligations
Banks also generate financial statements that help with your annual filings.
Tips for a Smooth Corporate Account Opening
- Ensure all directors/shareholders have valid IDs and proof of address.
- Translate documents if they are in a non-EU language.
- Hire a Dutch accountant or consultant if you’re unfamiliar with local laws.
- Be transparent about your business activities and ownership structure.
- Start early—bank onboarding can take 1 to 4 weeks.
How Long Does It Take?
- Traditional Banks: Usually 2–4 weeks, depending on documentation and identity checks.
- Digital Banks: Can take just 1–3 business days if your paperwork is in order.
Final Thoughts
Opening a corporate account in the Netherlands is a foundational step to doing business in the Dutch market. While it can involve bureaucracy, especially for foreign founders, understanding the process and choosing the right banking partner can make it a smooth experience.
Whether you’re running a local BV or a remote startup targeting the EU market, having a proper business account in the Netherlands is vital for legitimacy, compliance, and operational efficiency.
How Ease to Compliance Can Help
At Ease to Compliance, our firm assists entrepreneurs and global businesses with setting up operations in the Netherlands. From KVK registration to guiding you through the steps of opening a corporate account in the Netherlands, our team ensures that your banking and compliance needs are handled professionally.
Let us simplify your Dutch business journey from formation to finance.
FAQs on Corporate Account in the Netherlands
Question 1. Can I open a Dutch business bank account from abroad?
Answer: Yes, using digital banks like Bunq or Revolut, you can start the onboarding process remotely.
Question 2. What is the minimum deposit required to open a BV account?
Answer: Legally, it’s €0.01, but most businesses deposit at least €100–€1,000 to show credibility.
Question 3. Can I use a virtual address to open a corporate account?
Answer: Yes, many banks accept a registered virtual office in the Netherlands as a valid business address.
