Does expanding your business from abroad to the Netherlands seem like a possibility for you, and want to know how to open a Dutch business bank account as a foreign company? You may be confused just about the banking system and the legal requirements, as well as all of the paperwork involved in opening a Dutch business bank account. I know I was when I first began doing business overseas.
If you are a Chinese company or foreign entrepreneur, you must have asked yourself what to do, frantically flipping pages or typing searches into your web browser to figure out what documents you need. This article will answer those questions and help guide you step-by-step throughout the process.
You will have all the necessary knowledge to open your Dutch business bank account in 2025 and will be confident and comfortable moving ahead.
Let’s get started!
What is a Dutch business bank account and why do I need one?
A Dutch business bank account is a type of account that is made specifically for handling your company’s financial activities in the Netherlands. Whether you want to pay your taxes, salaries, suppliers, or to receive payments from your customers, you can do all of this seamlessly in euros.
You need a Dutch business bank account, first and foremost, for a legal perspective. Having an account will help you to easily manage your business finances, and ensure that you follow Dutch laws when doing so. Trying to operate your business efficiently without a Dutch business bank account will be difficult. You will have trouble paying VAT, processing payroll or handling recurring expenses while trying to use your personal account.
In short, a Dutch business bank account is your financial lifeline for conducting business and managing your company’s operations in the Dutch marketplace, and, is a prerequisite for any foreign company expanding and conducting business operations in the Netherlands.
Can a foreign company open a bank account in the Netherlands?
Yes! Foreign companies can open a Dutch business bank account. However, most banks require you to first register a Dutch legal entity, usually a BV (Besloten Vennootschap), which is similar to a private limited company. This entity must be registered with the Dutch Chamber of Commerce (KvK).
This means that before opening a bank account, your company will need to set up a formal business presence in the Netherlands.
What are the requirements to open a Dutch business bank account?
To open your account, you typically need to provide:
- KvK registration: Proof your business is registered in the Netherlands.
- Articles of Association: The official company documents.
- Valid passports: Identification for directors and beneficial owners.
- UBO registration: Details of Ultimate Beneficial Owners, per Dutch law.
- Dutch business address: An official address in the Netherlands.
- Business plan: Sometimes required to explain your business activities.
Meeting these requirements helps banks verify your company and comply with Dutch financial regulations.
How to open a Dutch business bank account as a foreign company?
Opening a business bank account in the Netherlands as a foreign company involves several important steps. Here’s a detailed overview to help you understand the process and prepare accordingly:
1. Register your Dutch company
Most foreign businesses start by registering a Dutch legal entity called a BV (Besloten Vennootschap), which is similar to a private limited company. This registration must be done with the Dutch Chamber of Commerce (Kamer van Koophandel or KvK).
The KvK registration officially establishes your company in the Netherlands and is required before you can open a business bank account.
2. Prepare the required documents
Before applying, you’ll need to gather several important documents:
- KvK registration certificate proving your company is legally registered in the Netherlands.
- Articles of Association, which are the official documents outlining your company’s structure and rules.
- Valid passports or ID for all directors and beneficial owners (people who ultimately own or control the company).
- UBO registration details – Dutch law requires you to register all Ultimate Beneficial Owners.
- Proof of Dutch business address, which can be an office or virtual address in the Netherlands.
- In some cases, a business plan explaining your company’s activities may be requested.
3. Choose the right bank for your needs
The Netherlands offers many banking options. Major banks like ING, ABN AMRO, and Rabobank are popular choices for foreign businesses because of their strong local presence and international services.
However, fintech banks such as Bunq or Revolut are gaining popularity by offering easier online application processes, which can be helpful if you’re not physically in the country. Consider factors like fees, online banking features, and customer support when choosing a bank.
4. Apply for your business bank account
Most traditional Dutch banks require you to visit a branch in person to open your account, especially for foreign companies. This allows the bank to verify your identity and documents directly.
However, some banks and fintech providers now offer fully or partially online applications for foreign businesses, which can save time and travel. Be prepared to schedule appointments or submit documents digitally as required.
5. Complete the KYC (Know Your Customer) process
To comply with Dutch and EU financial regulations, banks perform a KYC process. This means they will verify the identity of your company’s directors and owners, check your documents, and sometimes ask questions about your business activities to prevent fraud and money laundering.
This step can take several days or weeks, depending on the bank and how quickly you provide the necessary information.
6. Activate your account and start banking
Once your application is approved and KYC checks are complete, your Dutch business bank account will be activated. You will receive your bank details and access to online banking platforms, enabling you to send and receive payments, manage payroll, and handle all your company’s financial needs in the Netherlands.
Special note for Chinese companies expanding to the Netherlands:
The process is largely the same, but you might face additional documentation requests or checks depending on your industry or company type. Working with local experts or services like Oakhill Financial Services can simplify the process and ensure you meet all legal requirements efficiently. See our bookkeeping services and controlling services for more details.
Which are the best banks for foreign businesses in the Netherlands?
Some of the best banks for opening a Dutch business account include:
- ING Bank: Known for good international business services.
- ABN AMRO: Offers tailored business banking and strong online tools.
- Rabobank: Popular with SMEs and foreign entrepreneurs.
- Fintech alternatives: Banks like Bunq or Revolut offer faster online account openings for foreign companies.
Choosing the right bank depends on your business needs, volume of transactions, and willingness to visit the Netherlands for account setup.
Can non-residents open a bank account in the Netherlands?
Yes, but with some limitations. Many banks allow non-resident business owners to open accounts, especially if the company is registered locally. However, some banks require a Dutch resident director or proof of frequent business activities in the Netherlands.
If you are a non-EU foreign company, additional paperwork or personal visits may be necessary.
What are common challenges for foreign companies when opening a Dutch bank account?
Common hurdles include:
- Strict identity verification: Banks carefully verify all directors and beneficial owners.
- Proof of business address: You must have a legal address in the Netherlands.
- In-person visits: Some banks require you or your representatives to visit a branch.
- Lengthy approval process: Bank approval can take several weeks depending on your documentation.
Working with a local partner or service can make this process faster and easier.
How can Oakhill Financial Services help with Dutch bank account setup?
Oakhill Financial Services specializes in assisting foreign entrepreneurs and companies to open business bank accounts in the Netherlands. They guide you through the legal registrations, help prepare documents, and connect you with trusted banks. Their expertise helps Chinese companies and other non-EU business owners expand smoothly while staying compliant with Dutch rules.
Ready to open your Dutch business bank account? Whether you are a Chinese company or any foreign entrepreneur, following this guide and working with professionals like Oakhill Financial Services can save time and avoid headaches. Please reach out for our services contact