Dutch BVs are popular with international founders for their flexibility, credibility and access to European markets, yet many of those founders invoice in US dollars and work with American customers. This guide explains the banking steps around a BV, the common hurdles and how to prepare for a USD account.
Why Dutch BVs need a USD account
A USD account in the BV's own name lets the company receive dollar payments without immediate conversion, pay US suppliers and keep its euro and dollar activity clearly separated in the books.
Why applications can be difficult for non-resident founders
- Formation and operating accounts are different: The notary forming a BV typically needs confirmation that share capital has been paid, which is handled separately from the company's ongoing operating accounts.
- Local presence expectations: Major Dutch banks often expect a resident director or demonstrable Dutch business activity before opening a full business account.
- Legalized and translated documents: Some banks require apostilled, legalized or translated documents, adding cost and time.
- Address scrutiny: A registered office service alone may not satisfy banks looking for genuine Dutch presence.
- Variable timelines: Some applications are completed quickly and others take weeks, especially for non-EU directors.
Documents you should expect to provide
- 1Deed of incorporation and Articles of Association issued by the Dutch notary
- 2KVK Trade Register extract
- 3Government-issued photo ID and proof of residential address for every director, shareholder and beneficial owner
- 4Dutch VAT number, where the company is already registered
How to prepare
- Complete formation first. Make sure the notary has finalized the deed and the company appears in the KVK Trade Register.
- Prepare identity documents for every individual. Collect passports and recent proof of address for each director, shareholder and beneficial owner.
- Check document format requirements. Ask whether foreign documents must be apostilled or translated before you order copies.
Frequently asked questions
Does a Dutch BV need a Netherlands-resident director to open a USD account?
Some Dutch banks expect one, while other providers focus on ownership and activity. Confirm requirements with each provider.
Is a registered office address enough?
It depends on the provider. Some accept a registered office and others look for evidence of genuine Dutch operations.
Questions to ask any provider
Whichever bank or financial technology provider you consider, ask for written answers to the same questions so you can compare like with like:
- Who holds the account? Identify the institution named in the account agreement and how deposits held there are protected.
- Which payments are supported? Confirm inbound and outbound ACH, domestic wires and international wires, plus any limits or restricted countries.
- What does it cost in total? Ask for setup, monthly, per-transaction and currency-conversion charges in one written schedule.
- How is onboarding completed? Confirm whether verification can be completed remotely and which documents must be certified, apostilled or translated.
- What happens after approval? Ask how often the provider refreshes due diligence and what information it may request later.
This guide is general information for business owners. It is not legal, tax or financial advice and does not describe the products, terms or eligibility requirements of any specific provider. Requirements change, so confirm current rules with your registered agent, accountant or adviser and with the provider you choose.