Regulatory Alerts2012-04-17
Added · Updated
Q&A Representative offices of banks established outside the Netherlands
Representative offices of banks established outside the Netherlands are prohibited from conducting credit institution business, accepting redeemable funds, opening accounts, or performing money transactions in the Netherlands. These entities must confine their activities to market research and liaison functions, ensuring they do not mislead the public into believing they are licensed banks or money transaction offices. The use of the term 'bank' is generally forbidden unless the office represents an EEA-licensed bank, and any contact with the public regarding banking transactions is reserved for licensed branches.
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