Regulatory Alerts2017-04-01
Added · Updated
Activities requiring a licence
Any party intending to pursue the business of a bank in the Netherlands must hold an appropriate licence, unless a statutory exception applies. Pursuing the business of a bank is defined as taking deposits or other repayable funds from the public and granting credits for its own account, provided these activities are separately identifiable and do not serve only to support other principal activities. Entities with non-financial principal activities, such as inviting funds to support their own business, do not constitute banks, whereas entities with financial principal activities always qualify as pursuing the business of a bank.