Netherlands Explains 2 Categories of Foreigners Who Can Open Bank Accounts, Shares Conditions

• The Dutch government has announced the conditions under which foreigners staying beyond 90 days can open a bank account in the Netherlands
• EU, EEA, and Swiss nationals enjoy a notable advantage over other foreign nationals when it comes to banking requirements
• A citizen service number (BSN) is central to the process, and the Dutch government has explained exactly how foreigners can obtain one

The Dutch government has published official guidance clarifying which categories of foreign nationals are eligible to open a bank account in the Netherlands, with two distinct groups identified based on citizenship and residency status.

According to information published by the federal government, the rules apply specifically to people who intend to stay in the country for more than 90 days.

Opening bank account in the Netherlands

The first category covers nationals from countries within the European Union, the European Economic Area, or Switzerland. These individuals do not need a residence permit to open a bank account, giving them a smoother path into the Dutch banking system compared to other foreign nationals.

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The second category covers everyone else. Foreign nationals from outside the EU, EEA, or Switzerland must meet two conditions before they can access a Dutch bank account:

1. They must be registered with a Dutch municipality, and
2. They must hold a valid residence permit.

Both requirements must be satisfied simultaneously; partial compliance is insufficient.

BSN in opening Dutch bank account

Beyond meeting the residency and permit conditions, there is an additional tax requirement. Any foreigner who pays taxes in the Netherlands must also obtain a citizen service number, known as a BSN, before a bank will process their account application.

The BSN is not a separate bureaucratic hurdle requiring additional paperwork. The Dutch government explains that the number is automatically assigned when a person registers with their local municipality, meaning that completing the registration process effectively fulfills two requirements at once: establishing eligibility to open a bank account and securing the tax identification number needed to do so.

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Netherlands lists conditions for permanent residency

Meanwhile, Legit.ng reported that the Dutch Immigration and Naturalisation Service published a full list of requirements foreigners must satisfy before applying for permanent residency.

Applicants must have held a valid Dutch residence permit for at least 5 consecutive years and maintained their main residence in the Netherlands throughout.

Source: Legit.ng