What is passive income and why am I asked about it?
Passive income is income received on a regular basis, with little or no effort required to maintain it. Rent, interest, royalties or dividends are examples of passive income. Usually this type of income is earned next to the revenues from the main activities of a company, but in some cases the main income source is passive income. If you’re not sure whether your company earns passive income, contact your tax consultant or accountant.
We are asking you about it because at the moment we cannot accept your company if 50% or more of its gross income is passive income. This includes: interest, rental income, royalties and dividends from third parties (unless the dividends are through management fees, salaries and sales as part of your holding company).
Did you just get a notification in the app asking for more information?
Information events are the fastest way to save time when opening a bunq account! They serve as direct options for you to provide documents or information directly to us through your app.
To find the events in the app, just follow the steps below:
- Go to Home tab
- Tap on Events awaiting
- Select Business information and tap on Awaiting business information
When you get a notification in the app, you can provide the additional information and expected passive income percentage (if you have any) directly to us! 🎉
Why did I receive a notification to provide more information?
We are asking these questions because not all types of business activities are within our acceptance policy and we want to better understand what you are doing. This is in order to prevent possible unwanted restrictions on your account at a later point. To do that, we aim to gather as much accurate and elaborate information as possible at the very start of your journey with bunq. 🏃
Wondering how to verify the activities of your business account?
To make sure you can open an account with us as seamlessly and fast as possible, one of the things we need to know is the activities of your company.
In order for us to approve your Business account, the activities, corporate structure, as well as the amount of generated passive income should all comply with bunq’s requirements.
Need further help?
If you have any other questions regarding your activities, check out this topic.
You can always send us an email directly to email@example.com or contact Support from here, we'll be happy to help! 🙌
Explore more bunq knowledge here.🌈