Bank account in the Netherlands as a non-resident Filipino living in the Philippines

Opening a bank account in the Netherlands as a non-resident Filipino living in the Philippines is possible, but it involves some specific steps and considerations. Here’s how you can go about it:

1. Choose a Dutch Bank

• ING Bank, ABN AMRO, Rabobank, and Bunq are some of the popular banks in the Netherlands. Bunq is particularly known for its digital-first approach and may be more accessible for non-residents.

2. Check Residency Requirements

• Some Dutch banks may require you to have a Dutch address or residency permit to open an account. However, there are banks that cater to non-residents.

3. Digital Banks

• Consider digital banks like Bunq which may allow you to open an account online without requiring you to be physically present in the Netherlands. They offer services in English and have options for international customers.

4. Opening a Non-Resident Account

• Some traditional banks in the Netherlands may offer non-resident accounts. You’ll need to inquire directly with the bank and provide specific documentation.

5. Required Documentation

• Proof of Identity: A valid passport or government-issued ID.
• Proof of Address: Utility bills, bank statements, or other documents showing your address in the Philippines.
• Tax Identification Number (TIN): Some banks may ask for this for tax purposes.
• Initial Deposit: Some banks might require an initial deposit to open the account.

6. Application Process

• Online Application: Some banks allow you to start the application process online. For digital banks like Bunq, you can complete everything through their app.
• Visit a Local Branch or Correspondent Bank: If the bank has a correspondent relationship with a local bank in the Philippines, you might be able to open the account through the local bank.
• Travel to the Netherlands: If the bank requires physical presence, you might need to travel to the Netherlands to finalize the account opening process.

7. Consider Multi-Currency Accounts

• Some international banks or digital banks offer multi-currency accounts, which can be a good alternative if you need to handle Euros or other currencies.

8. Legal and Tax Considerations

• Understand the legal and tax implications of opening and maintaining an international account. You may need to report the account to the Bureau of Internal Revenue (BIR) in the Philippines, depending on your total assets and earnings.

Steps to Take:

1. Research and Choose a Bank: Determine which bank best fits your needs and check their specific requirements for non-residents.
2. Contact the Bank: Reach out to the bank via email or phone to get details on their application process for non-residents.
3. Prepare Your Documents: Gather all the necessary documents, including identification and proof of address.
4. Submit Application: Depending on the bank, you can apply online or through a local branch/correspondent bank.
5. Follow Up: Stay in touch with the bank to ensure your application is processed smoothly.

Opening an account in the Netherlands from the Philippines might require some effort, but it is doable, especially with digital banks or by directly coordinating with Dutch banks that support non-resident clients.