Doing Business in the Netherlands 2012 - American Chamber of ...

22 Financial Regulations
22.1 Exchange Control Regulations
Doing Business in the Netherlands 2012
No license or notification requirement applies to the making of
payments in euro between residents and non-residents. However,
pursuant to the 1994 Foreign Financial Relations Act (Wet financiële
betrekkingen buitenland 1994) and the 2003 Reporting Provisions
(Rapportagevoorschriften betalingsbalansrapportages 2003), certain
designated residents are required to report specific foreign payment
information to the Dutch Central Bank (De Nederlandsche Bank, or
DNB) on a regular basis. These reporting requirements are designed
to enable DNB to establish the balance of payments of the
Netherlands.
DNB has established certain specific institution profiles (e.g., banks,
central securities depositaries, undertakings for collective investment).
The nature of the foreign payment information to be provided to DNB
by a resident designated as reporting entity depends on the category of
institution to which such resident belongs. The designation of a
resident as “reporting institution” by DNB is based on certain criteria,
e.g., international payment volume and frequency.
DNB may also request specific information from resident institutions
that have not been designated as reporting institutions. Pursuant to the
2003 Reporting Provisions, the so-called “Special Finance
Companies” (Bijzondere Financiële Instellingen) that are incorporated
or established in the Netherlands are subject to a (proactive)
notification requirement within three weeks following their
establishment or incorporation in the Netherlands. “Special Finance
Companies” may also qualify as a “bank.” Please be referred to
section 17.2.1 Banking activities of this chapter in that respect.
In principle, no license is required for the repatriation of capital, loans,
interests, dividends, branch profits, royalties and fees as long as the
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