Hey bunqers 🌈,

Opening a business account with us is quick and easy, but there’s a bit of information we’ll need to make it happen in just 5 minutes. Here’s what we’ll ask for:

We need to know a few key details about your company:

  • Your company’s activities
  • The purpose of the business account
  • Expected transaction volume per month
  • Who the UBO (ultimate beneficial owner) is
  • Company directors
  • Company website

Pro tip: If you provide us with your company website, we can speed up the verification process even more!

Additional documentation we might ask for

Depending on where your company is registered and its legal structure, we may also need some of the following documents:

  • Articles of Association (Statuten): The rules and structure of your company.
  • Chamber of Commerce excerpt: Official document showing your company's registration details.
  • Deed of Incorporation (Akte van Oprichting): Proof of your company's establishment.
  • Written consent for jointly authorized directors: A document showing that all jointly authorized directors agree to a specific decision.
  • IDs of your company directors/UBOs: Copies of identification documents for company directors and Ultimate Beneficial Owners (UBOs).
  • Record of Shareholders (Aandeelhoudersregister): A list of all company shareholders.
  • Partnership agreement: The contract that outlines the terms of your business partnership, if applicable.
  • Certificate of Beneficial Owners: Proof of the individuals who ultimately own or control the company.
  • Written Confirmation of Ultimate Beneficial Owners:
  • Organizational chart: A visual representation of your company’s structure, showing roles and responsibilities.
  • Audited financial report: The latest financial statement, reviewed and verified by an independent auditor.
  • Tax return: Your most recent tax return document.
  • Source of funds document: Proof of where the company's funds come from, such as a loan agreement, savings account statement, or VAT declarations.
  • VAT declaration: If not available, provide any document stating VAT or an official document confirming VAT exemption.
  • Director’s proof of residence: A document showing the current address of company directors.

Why do we need to know this?

Long story short .. it’s a legal requirement. Under the 4th EU Money Laundering Directive (4MLD), we're required to collect the name, date of birth, and ID of your company’s Ultimate Beneficial Owner (UBO).

For capital companies: A UBO is anyone with more than 25% ownership, whether direct or indirect, or who has control over the entity.
For foundations and associations: The UBO is someone who holds over 25% ownership, has voting rights for more than 25% when amending articles of association, or has control over the entity.
For partnerships: The UBO is a person who directly or indirectly holds more than 25% of ownership or voting rights, or who has control of the partnership.

At bunq, we define UBOs as individuals holding exactly 25% or more ownership in a company. That’s why we ask each person at this level to provide the necessary information.

To get your business account up and running, you may need to provide us with some documentation, which you’ll receive as a request directly in the bunq app.

What about a VAT number?

A VAT number is NOT mandatory for opening a bunq business account.

Where should I provide these documents?

You can provide all the needed documentation during your verification. If a document is requested additionally from our responsible department after you've finished your verification, you'll receive a pending event on your Profile tab - simply click on it and provide the info requested there. In case you experience issues providing the requested info through the in-app event, you can contact us through our Support Center and provide the needed documents there.

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