There are good reasons to open a Dutch bank account for non-residents. The financial system in the Netherlands is structured so that interaction with outside financial systems and other markets is made far easier than in other countries. The Netherlands is one of the few countries which allows the opening of an account for foreigners, and allows it from outside of the country. This is part of what makes the banking system there so strong and so reliable. Their links with banks around Europe and the world mean that having a Dutch bank account for non-residents make a lot of transactions a lot easier than it may otherwise be, and more and more people are taking advantage of the opportunities offered by having a Dutch bank account as non-residents. Still, the most common and maybe the most important reason to open a Dutch bank account for non-residents is the fact that is it a requirement for anyone who wishes to start a besloten vennootschap, the Dutch equivalent of a limited liability company. This company structure in the Netherlands is open and available to anyone, and is subject to the low levels of corporate tax and lenient regulation for Dutch business. That makes it an attractive proposition to businesspeople situated around the world. If you find yourself in need of a Dutch bank account for non-residents, the first thing you may consider doing is to look into which bank best fits your needs. The Netherlands has a wide range of banks, many of which are among the largest in Europe. Almost all of these banks will happily provide a Dutch bank account for non-residents. Acquiring the necessary information to make your decision is not always easy, however, as almost all advice is provided by the bank, with little independent advice available. The process of opening a Dutch bank account for non-residents from abroad requires time and patience to make sure that you complete and submit the correct forms, but it is not strictly necessary to travel to the Netherlands to complete the process. Most banks will provide information in English language, but it can be useful to have a Dutch-speaker assist in the process.
How not to open a Dutch bank account for non-residents
The banks in the Netherlands do all that they can to make it easy to open a Dutch bank account for non-residents, but there are still restrictions and technicalities that make it more complex. You should not expect:
- All information to be provided in English, although the majority should be;
- To finish everything in one day;
- To travel to the Netherlands and complete the process in person without prior appointments;
- The same level of services from all banks;
- Special treatment as a foreign investor.
The process is fair and relatively uncomplicated, but there are still hurdles to be negotiated before you have a Dutch bank account for non-residents. If you try to complete the process in a hurry, it will almost certainly go wrong.
The easy way
Fortunately, there are experts available to help. For example, Intercompany Solutions helps individuals and businesses to open a Dutch bank account for non-residents as part of the process of starting a business in the Netherlands. At intercompanysolutions.com they provide a full list of their services available and pricing, and they offer a free initial consultation. This is certainly the easiest way to open a bank account in the Netherlands, and will in virtual all cases also be the quickest and often the cheapest way in the long term.
