Netherlands: corporate bank account opening

Obtain a current KVK Business Register extract for a Dutch company and its constitutional documents where needed. The extract records registered particulars and authorised representatives. Request home-country records for foreign entities; Dutch branch registration does not supply the foreign company's complete ownership structure.

Owners and representation

Identify the UBOs and take reasonable measures to verify them under the Wwft. Obtain the relevant UBO-register information where access and the applicable obligation permit, with shareholder and control documents for any unresolved ownership layers. Record discrepancies rather than treating the UBO register as the sole evidence.

Check the extract's representation rules. If directors must sign jointly, obtain both signatures or a valid delegation. For employees operating the account, retain the mandate naming them and defining their powers.

Account purpose and risk review

Record the business, expected payments, counterparties and funding. For a company receiving client money or collecting for others, obtain the contracts establishing whose funds it holds and the basis for onward payments.

DNB describes risk-based CDD, ongoing monitoring and enhanced measures for higher-risk relationships. Resolve PEP and sanctions findings and complete the required verification before acceptance, subject to the Wwft's permitted exceptions.

Monitor activity and update changed ownership, representation or business information. The Dutch reporting obligation concerns unusual transactions under the applicable indicators, including attempted transactions where relevant; escalate qualifying cases to FIU-NL and retain the analysis.