Hey bunqers 🌈 ,

Your safety and well-being are our priority. We have an acceptance policy in place to abide by legal regulations and follow some of our own risk standards as a bank.

Here are the basic conditions you need to meet in order to open a bunq Business account:

• You’ll need a verified Personal account with bunq before opening a Business account. New users can open both accounts simultaneously during signup. More details can be found here*

• All company directors must be 18 years of age or older.

• Your business needs to be legitimate and registered in one of the following countries: the Netherlands, Belgium, France, Germany, Austria, Spain, Italy, Ireland, or Portugal.

• You must live permanently in the European Economic Area (EEA).

• Your business must operate under a legal form that bunq accepts. Find the full list here.

• Your company’s structure and activities must meet bunq’s requirements. You can find more details on this below.

• Each business organization can only have one business account with bunq.

• If your company operates under multiple trade names (all registered under the same Chamber of Commerce number), you can easily open separate bank accounts for each name or change your trade name.

• Every layer of your company must be registered as an active legal entity with the Chamber of Commerce (for the Netherlands: Kamer van Koophandel).

• You cannot open a Business account if any UBOs or non-executives reside outside of the EEA.

• If your company is facing pending bankruptcy, you won’t be eligible to open a Business account.

• The documents needed for approval may vary based on your business type.

* Note: Your Personal account can be on our free-of-charge bunq Free plan. You’re free to choose any available plan for your Business account, no matter which plan you have for your Personal account.

Which company structures are accepted?

A corporate structure can consist of many layers, depending on its legal form and characteristics.
We cannot accept your company if your legal structure is too complex and therefore outside of our acceptance policy. We classify a company as being too complex if there are non-linear or branching paths within the ownership structure layers or if there are more than 4 layers of linear ownership.

We accept Dutch, French, German, Austrian, Spanish, Belgian, Irish, Italian and Portuguese companies with a 3 layer structure or a 4 layer straight-line structure. We can only accept a company if the third and fourth layer is a natural person - not another legal entity. Check out our overview below, under Why was my company denied, to find out more about our accepted company structures. Additionally, all companies in the corporate structure have to have one of our accepted legal forms, you can read more about the accepted legal forms here.

Additionally, we may accept cross-border companies. These are Dutch, French, German, Austrian, Spanish, Belgian, Irish, Italian and Portuguese companies which operate with foreign entities within their ownership chain. We can only accept these types of company structures if they're registered in countries eligible for Business accounts and have the following legal forms:

• 🇳🇱 Netherlands: Besloten Vennootschap (B.V.)

• 🇫🇷 France: Société à responsabilité limitée (SARL), Entreprise unipersonnelle à responsabilité limitée (EURL), Société par Actions Simplifiée (SAS), Société par Actions Simplifiée Unipersonnelle (SASU)

• 🇩🇪 Germany : Gesellschaft mit beschränkter Haftung, UG (haftungsbeschränkt)

• 🇦🇹 Austria: Gesellschaft mit beschränkter Haftung

• 🇪🇸 Spain: Sociedad Limitada

• 🇧🇪 Belgium: Limited liability companies (BVBA/SPRL legal form)

• 🇮🇪 Ireland: Private Limited Company (LTD)

• 🇵🇹 Portugal: Estabelecimento Individual de Responsabilidade Limitada (EIRL)

Why was my company denied?

Here are some of the possible reasons for your Business account to be denied:

• One of the company directors is insolvent, a minor or has been blocked;

• The director or company is confirmed as a Politically Exposed Person (PEP) or Special Interest Person (SIP);

• The company is a trust office in NL;

• Your company is inactive according to the Chamber of Commerce;

• The company has a “Stichting” in the upper layers;

• The company has more than 3 layers or more than 4 straight-line layers;

• The company has Vennootschap Onder Firma (VOF) as upper layer;

• The company has Stichting Administratiekantoor (STAK) in the structure;

• The company is Stichting and has Besloten Vennootschap (BV) as upper layer;

• The company is managed by Stichting;

• The company has Stichting Derdengeld in the upper layer;

• The company is Vennootschap Onder Firma (VOF) and has Stichting as upper layer;

• The company is Vennootschap Onder Firma (VOF) and has VOF as upper layer;

• The company is Vennootschap Onder Firma (VOF) with only 1 partner;

• The company is Maatschap with Stichting as a partner;

• The company is Maatschap with BV as a partner;

• The company is Vereniging with Stichting as a partner;

• The company is Vereniging with BV as a partner;

• The executive opening the account isn’t an authorized representative;

• Your French company is confirmed liquidated/insolvent via infogreffe;

• We discover fake Identification Documents (IDs) of the directors or Ultimate Beneficial Owners (UBOs);

• The company performs unsupported cryptocurrency activities;

• The company has high risk information for transactions and activities during signup;

• The Enhanced Due Diligence check shows high risk score for your company;

• The Enhanced Due Diligence check shows high risk information discovered online;

• The director is under garnishment;

• The company executive opening the account doesn't reside within the EEA;

• The company director is under legal guardianship;

• The company doesn't cooperate and provide the requested information we’ve asked for during the signup process;

• Sole-proprietorships, freelancers, associations and foundations are not owned by a natural person (UBO).

Overview of documents we may request from you

Company Documents:

• Company Registration (Chamber of Commerce excerpt): Official document showing your company's registration details.

• Articles of Association (Statuten): The rules and structure of your company.

• Deed of Incorporation (Akte van Oprichting): Proof of your company's establishment.

• Record of Shareholders (Aandeelhoudersregister): A list of all company shareholders.

• Partnership Agreement: If applicable, provide your partnership contract.

• Organizational Chart: A visual representation of your company’s structure.

Director & UBO Information:

• IDs of Company Directors/UBOs: A photo of their identification documents.

• Proof of Residence for Directors: A document showing their current address.

• Certificate of Beneficial Owners: Proof of the company's beneficial owners.

• Written Confirmation of Ultimate Beneficial Owners: Complete the required form.

• Written Consent for Jointly Authorized Directors: More information here.

Financial Information:

• Audited Financial Report: The latest financial statement, verified by an independent auditor.

• Tax Return: The most recent tax return document.

• Source of Funds Document: Proof of the origin of the funds used to start the business, such as: Loan agreement, Personal or business savings account statement, VAT declarations.

VAT Information:

-VAT Declaration: If not available, provide any document stating VAT or an official document confirming VAT exemption.

Overview of the business account requirements per country

• Austria 🇦🇹

• Belgium 🇧🇪

• France 🇫🇷

• Germany 🇩🇪

• Ireland 🇮🇪

• Italy 🇮🇹

• Portugal 🇵🇹

• Spain 🇪🇸

• Netherlands 🇳🇱

What activities aren't supported?

The following is a list of activities and fields that we currently do not support as part of a bunq Business account:

• Manufacture of basic pharmaceutical products

• Manufacture of other chemical products n.e.c.

• Manufacture of tobacco products

• Manufacture of military fighting vehicles

• Manufacture of weapons and ammunition

• Smelting and refining of uranium

• Other non-ferrous metal production

• Copper production

• Lead, zinc and tin production

• Aluminium production

• Manufacture of precious metals

• Manufacture of gas

• Wholesale of non-ferrous metals and non-ferrous semi-finished products

• Wholesale of ferrous metals and ferrous semi-finished products

• Wholesale of metal ores

• Wholesale of pharmaceutical goods

• Wholesale of tobacco products and smokers’ requisites

• Wholesale of unmanufactured tobacco

• Other pension funding

• Pension funding for specific professional groups

• Corporate pension funding and saving funds

• Industry pension funding

• Reinsurance

• Health insurance

• Non-life insurance (no health insurance)

• Non-life insurance (no reinsurance)

• Slate clubs

• Insurance in kind

• Life insurance (no reinsurance)

• Other financial intermediation

• Bill-brokers and other credit granting n.e.c.

• Participation companies

• Municipal credit banks and commercial finance companies

• Mortgage banks and building funds

• Financial leasing

• Investment funds with restricted entry

• Investment funds in real estate

• Investment funds in financial assets

• General banks

• Savings banks

• Stock credit companies

• Cooperative banks

• Central banking

• Biotechnical research and development in other fields

• Biotechnical research and development on medical products and pharmaceutical processes and of food

• Biotechnical research and development on agricultural products and processes

• Management of real estate

• Renting of non-residential real estate

• Renting of other residential buildings

• Municipal housing

• Fund management

• Other services related to insurance and pension funding

• Guarantee funding

• Insurance markets

• Mortgage, credit and currency brokers, bank and savings bank agencies etc.

• Market makers

• Trust offices

• Stockbrokers, investment consultants etc.

• Administration of financial markets

• Operation of coin operated gambling machines

• Lotteries and betting (no machines)

• Political organisations

• Religious organizations

In order for us to approve your Business account, the activities and corporate structure must all comply with bunq’s requirements.