How to USE a business bank account (Eenmanszaak)

Last activity 13 March 2020 by Cynic

608 Views

3 replies

Post new topic

allyfMember13 March 2020 10:57:04

Dear fellow expats,

I searched quite a bit but still can't make it clear, so please let me post my question here.

I have just registered with the KvK as an “eenmanszaak” and opened a business bank account.
Now I am wondering how to use it.

I guess I shouldn’t use money from my business account for personal expenses such as everyday meals, detergents, towels and clothes, but then for what purposes can I use it?
(I’m a programmer if it matters, so the foods or clothes etc. will never be related to my business)
What about rents or phone bills?
If I use it in a wrong way, is there any penalty?

This might be a stupid question but I hope someone can answer it.

Any advice and suggestions will be appreciated!

CynicUK / Netherlands Expert13 March 2020 11:02:47

7648

Hi and welcome to the Forum.

My advice is to ask the bank with who you have the account; they may have their own terms and conditions of use.

Hope this helps.

Cynic
Expat Team

allyfMember13 March 2020 13:34:36

Hi Cynic, thank you so much for your quick response!
and let me ask one more thing

Cynic wrote:
My advice is to ask the bank with who you have the account; they may have their own terms and conditions of use.

Is it the bank who decides how to use it?
I mean, isn’t there any regulation by the Belastingdienst or any authorities like that?

CynicUK / Netherlands Expert13 March 2020 14:52:31

7648

Hi again.

The Belastingdienst will have sight of your account if they wish to; they can refer any activities they are suspicious of to the Police or IND. It will be the Banks T&C's that govern how you operate the account, charges etc.

You will have to submit a tax return in accordance with the current law; I'd strongly recommend you use the services of a tax/financial advisor so you can make the best use of any offsets available to you.

Hope this helps.

Cynic
Expat Team

Articles to help you in your expat project in Amsterdam

Opening a bank account in the Netherlands
To live anywhere in the world, you have to have money. And the safest place to put it is in a bank. Naturally, if ...
Studying in Amsterdam
If you want to pursue higher education in Amsterdam at a publicly funded research university, then you have ...
Working in Amsterdam
Over 918,000 people live in Amsterdam, which means there's a bit of competition when it comes to jobs. Add in ...
Accommodation in Amsterdam
Sorting out the proper visas to move to the Netherlands is just the first hurdle in your big move to Amsterdam. ...
Developing your social circle in Amsterdam
In your move to Amsterdam, you may already have some friends or acquaintances in the country. However, it may not ...
Things to do on weekdays in Amsterdam
Perhaps you're a student, a freelancer, or someone who works minimal hours. Whatever it is, you've got ...
The work culture in Amsterdam
While you may be used to a work-to-live mentality, especially if you come from the US corporate world, you may be ...
Buying property in Amsterdam
They always say that paying money towards a mortgage is better than spending money on rent, as you won't own ...