At BLOX, only certain legal forms can create a business account. Below is an overview of permitted legal forms, as well as other conditions that must be met:
Permitted legal forms:
| Dutch legal forms | Belgian legal forms |
| Sole proprietorship | - |
| General partnership (VoF) | General partnership (VoF) |
| Partnership | Partnership |
| Private Company (B.V.) | Private Limited Liability Company (B.V.B.A.) |
Note: With a sole proprietorship, you are not required to create a business account. You may also invest in a personal account with this.
Conditions organisations:
- Organisations must be based within the Netherlands or Belgium.
- Organisations must be registered with the Chamber of Commerce (KvK) or the Belgian equivalent.
- Organisations with a registration requirement must have their ultimate beneficial owners (UBOs) registered in the UBO register.
- Organisations may not have a legal form in their structure originating from a country other than the company's home country.
- Owners, managers, and directors of organisations must be 18 years of age or older.
Additional conditions:
The legal entity must meet the following criteria:
- Be established and resident in the Netherlands or Belgium.
- Have a simple and non-complex structure with no more than two layers of entities between the client and the Ultimate Beneficial Owners (UBOs).
- Only fiat money can be deposited from and withdrawn to a corporate bank account with an IBAN issued by a licensed bank in SEPA.
- The legal entity and its UBOs and representatives must not be on any sanctions list of the Netherlands, the European Union, the United Nations, the Office of Foreign Assets Control (OFAC) or the Financial Crimes Enforcement Network (FinCEN).
- Fall within the risk appetite set by BLOX.
If all conditions are met, you can successfully create a business account!
Do you have any further questions or doubts? Then feel free to send an e-mail to our Compliance department at compliance@weareblox.com . One of our Compliance officers will be happy to help you further :)