Family office in the NetherlandsOverview
Dutch law does not define a family office or create a special regulatory status for one. What matters is what the office does and for whom. Providing investment services such as individual portfolio management or investment advice is prohibited without an AFM investment firm licence under Article 2:96 of the Financial Supervision Act (Wft), and managing an alternative investment fund requires an AIFM licence under Article 2:65 Wft or, below the thresholds, registration with the AFM. A single-family office that only manages its own group's assets is generally outside these rules, relying on the fact that it serves no third-party clients and on the MiFID II intra-group exemption, while Recital 7 of the AIFM Directive confirms that family investment vehicles which do not raise external capital are not AIFs. Once the office advises unrelated families, acts as director of client companies or provides domiciliation, the AFM licence and a DNB licence under the Act on the Supervision of Trust Offices 2018 (Wtt 2018) come into view.
The usual architecture starts with a Dutch BV. The family, often through personal holding BVs for each branch, owns a top holding that holds the operating businesses, real estate and investment portfolio. Under Article 13 of the Corporate Income Tax Act 1969 the participation exemption removes dividends and capital gains on holdings of at least 5% from corporate tax, so value can move up the chain and be reinvested without tax leakage. Control is frequently separated from economic ownership through a STAK: the shares are transferred to a foundation that issues depositary receipts to the next generation, while the STAK board, often parents and an independent member, votes the shares. Properly structured, the STAK is transparent for Box 2 income tax, which allows receipts to be gifted using the business succession facility.
Personal taxation drives the design. Dividends and gains from a substantial interest (at least 5%) are taxed in Box 2 at 24.5% on the first EUR 68,843 and 31% above in 2026 (EUR 137,686 for fiscal partners), while portfolio assets held privately fall into Box 3 at 36% on a deemed return of 6.00% for investments and 1.28% for savings, above an exemption of EUR 59,357. The Supreme Court's June 2024 ruling allows taxpayers to show a lower actual return, and the Actual Return Tax Act Box 3, intended to apply from 1 January 2028 and passed by the House of Representatives on 12 February 2026, is still pending in the Senate. The Tax Plan 2027 presented on 15 September 2026 and further proposals of 29 September 2026 leave the timing and scope of the Box 3 reform open, so families should plan on several possible outcomes rather than one.
For succession, gift and inheritance tax between parents and children is 10% up to EUR 158,669 and 20% above in 2026, but the business succession facility (BOR) conditionally exempts business assets up to EUR 1,543,500 and most of the excess, provided the business continues for three years (reduced from five on 1 January 2025). Real estate let to third parties has been excluded since 2024 and the 2027 package leaves BOR unchanged. The Netherlands has no domestic trust law but recognises foreign trusts under the Hague Trust Convention; trusts and similar arrangements without fixed beneficial interests are usually treated as separated private assets (APV), attributed to the settlor and then to the heirs, which makes foreign trusts unattractive for Dutch-resident families. The foreign investor residence scheme was abolished on 17 April 2024.
Key benefits
- Participation exemption and an extensive treaty network make a Dutch BV an efficient top holding for international operating and investment companies
- STAK certification lets founders keep voting control while transferring economic value to the next generation, a long-tested and widely understood technique
- BOR and the income tax roll-over facility allow family businesses to pass between generations with limited immediate tax, subject to continuation conditions
- No family office licence is needed for a single-family office managing only its own group's assets, which keeps running costs proportionate
- Predictable, rule-based tax system with an advance ruling practice and published rates and thresholds each year
- Strong professional ecosystem of notaries, tax advisers, private banks and trust offices, with English widely used in practice
- Restricted UBO register access since the 2022 CJEU ruling, with a new access law in force since 16 July 2025
Requirements
- Perimeter test: confirm the office manages only the family's own group and wealth. Portfolio management or investment advice for others requires an AFM investment firm licence (Art. 2:96 Wft) unless an exemption applies
- Pooled vehicles: if capital is raised from outside the family, the vehicle is likely an AIF; its manager needs an AIFM licence (Art. 2:65 Wft) or sub-threshold AFM registration (up to EUR 100 million, or EUR 500 million unleveraged with a five-year lock-up)
- Trust office services: acting as director, providing a registered address with additional services or managing conduit companies for third parties requires a DNB licence under the Wtt 2018
- Corporate set-up: BVs, NVs and stichtingen are created by notarial deed and registered with the KVK; a STAK needs articles and administration conditions that secure the separation of votes and economic rights
- Tax residence: effective management in the Netherlands, supported by Dutch-resident board members, local board meetings, records and real decision-making; for holdings, payroll and office space are key substance indicators
- AML/CFT under the Wwft: notaries, banks, trust offices and licensed firms carry out client due diligence, source-of-wealth checks and report unusual transactions to FIU-Nederland
- UBO registration with the KVK for BVs, NVs, foundations and associations: any person with more than 25% interest or control, or senior management as pseudo-UBO; trusts and similar arrangements go in the separate trust register
- CRS and FATCA classification for each entity and reporting by Dutch financial institutions; DAC6 reporting of reportable cross-border arrangements
- Corporate tax and annual accounts: corporate income tax returns, dividend withholding tax of 15% on distributions, and filing of annual accounts with the KVK within statutory deadlines
- BOR and roll-over conditions: genuine business assets, minimum holding periods before the transfer and continuation for three years after it
Structure designs
Family holding BV with personal holdings
Top BV owning operating companies, real estate and portfolio, with personal holding BVs per family branch. Dividends and gains flow tax-free under the participation exemption, and personal tax is due in Box 2 only when funds are taken out.
STAK certification structure
BOR exemption up to EUR 1,543,500 of business value (2026)
Shares are held by a STAK that issues depositary receipts to children or grandchildren while the board keeps voting rights. Suits families transferring value early while founders keep control, often combined with BOR gifts.
Single-family office BV (unregulated)
A separate management company employing the family's own professionals to run reporting, treasury, governance and adviser coordination for the group. Outside the Wft while it serves only the family; recharges and transfer pricing must be documented.
Family fund or co-investment vehicle
Sub-threshold AIFM regime up to EUR 100 million (EUR 500 million unleveraged)
Limited partnership or fund for joint account when friends, co-investors or institutions join. Since 1 January 2025 most CVs are tax-transparent, but a vehicle with freely transferable units can become an opaque FGR, so terms must be drafted carefully.
Philanthropic foundation (ANBI stichting)
A foundation with ANBI status for the family's charitable work. Gifts to it are exempt from gift and inheritance tax and periodic gifts are deductible up to EUR 1.5 million a year from 2025, subject to spending and governance rules.
Licensed multi-family office
For an office serving several unrelated families: an AFM-licensed investment firm for portfolio management or advice, and where relevant a DNB-licensed trust office, with capital, governance, integrity screening and Wwft frameworks.
Step-by-step process
- 1
Family, asset and residence review
Map family members, residences, citizenships, businesses and portfolios, and confirm whether the office will serve one family or several. This settles the licensing question and which Dutch and foreign taxes apply.
- 2
Structure and tax design
Model the holding chain, STAK and personal holdings against the participation exemption, Box 2 and Box 3 exposure, BOR conditions, dividend withholding tax and the tax rules of family members abroad, including exit tax for those who may emigrate.
- 3
Governance documents
Draft articles, STAK administration conditions, shareholder agreements, the family charter, investment policy and investment committee terms, and decide who sits on each board.
- 4
Notarial KYC and incorporation
Complete notary and bank due diligence, execute the deeds, register with the KVK, file UBO information and open bank and custody accounts. Where useful, request an advance tax ruling.
- 5
Licensing where required
For a multi-family office, prepare the AFM application (business plan, policymakers' screening, organisation, capital, compliance and AML procedures) and, if trust office services are offered, the DNB Wtt application.
- 6
Transfer of assets and succession steps
Contribute shares and assets to the holding, certify shares through the STAK and plan gifts of depositary receipts using BOR and the roll-over facility within their conditions.
- 7
Ongoing compliance
Annual accounts, corporate and income tax returns, UBO updates, CRS and FATCA reporting, periodic review of substance, and adjustment of the structure as Box 3 reform and other rules develop.
Typical documents
- Certified passports and proof of address for founders, directors and ultimate beneficial owners
- Source-of-wealth narrative with evidence such as company sale agreements, audited accounts, dividend history or inheritance documents
- Family tree and chart of existing companies, holdings, trusts and foundations
- Draft notarial deeds: articles of the BV and STAK, administration conditions and transfer deeds
- Shareholder or depositary receipt holder agreements and the family charter
- Valuation reports for shares and real estate being transferred or gifted, supporting BOR and gift tax filings
- Tax residence certificates and US-person status declarations for CRS and FATCA classification
- For a licensed MFO: business plan, organisation chart, screening forms for policymakers, AML/Wwft procedures and capital evidence
- Bank and professional reference letters where requested by the notary or bank
- Investment policy statement and investment committee terms of reference
How Legal Wealth helps
Legal Wealth works with the family and its Dutch notary and tax advisers to decide whether the Netherlands is the right base for the family's holding and succession structure, and how it fits with residences and assets elsewhere. We map the regulatory perimeter before anything is incorporated, coordinate notaries, banks and, where needed, AFM or DNB licensing counsel, and prepare the KYC and source-of-wealth file with discretion. Because Box 3 reform and other rules are still moving, we build structures that can adapt, and we connect Dutch holdings with companion platforms such as Luxembourg or Belgium where that genuinely serves the family. Every step is designed to stand up to bank, tax authority and regulatory review.
Enquire with Legal WealthFrequently asked questions
Does a Dutch single-family office need a licence?
There is no family office licence in the Netherlands. An office that only manages the assets of its own family group generally falls outside the Wft. A licence is needed once it provides investment services such as portfolio management or advice to third parties (AFM, Art. 2:96 Wft), manages a fund with outside investors (AIFM) or provides trust office services to others (DNB, Wtt 2018).
Why do Dutch families use a STAK?
A STAK holds the shares and issues depositary receipts. The receipt holders receive the economic benefits, while the STAK board exercises the votes. This lets parents gift value to children, often using BOR, without giving them control of the company, and it can also keep the business together when there are many heirs.
How are dividends from a family holding taxed?
Inside the group, dividends and gains on holdings of at least 5% are exempt from corporate tax under the participation exemption. When a Dutch-resident individual with a substantial interest takes money out, Box 2 income tax applies at 24.5% on the first EUR 68,843 and 31% above in 2026, after 15% dividend withholding tax that is credited against it.
What is happening with Box 3?
Box 3 still uses deemed returns in 2026 (6.00% for investments, 1.28% for savings, taxed at 36% above EUR 59,357), with the right to show a lower actual return. The Actual Return Tax Act Box 3, intended for 1 January 2028, passed the House of Representatives in February 2026 but is pending in the Senate, and the government's autumn 2026 proposals reopen its timing and scope.
Can we use a trust for Dutch-resident family members?
The Netherlands recognises foreign trusts under the Hague Trust Convention, but for tax purposes most discretionary trusts are separated private assets (APV). Their assets and income remain attributed to the settlor, and later to the heirs, so the trust gives little tax advantage and often adds complexity. Foundations and STAKs are generally preferred.
Is there an investor visa for the Netherlands?
No. The foreign investor scheme, which required EUR 1.25 million in an innovative Dutch company, was abolished on 17 April 2024; existing permits can only be extended on the old terms. Non-EU family members and staff now use routes such as the highly skilled migrant permit, the self-employed permit or, for US citizens, the Dutch-American Friendship Treaty. Qualifying hires may use the 30% ruling, which falls to 27% from 2027.
Last reviewed: 2026-10. Requirements, fees and timelines change. Information is general, reviewed on the date shown, and is not legal or tax advice.
Sources
- IND – Admission scheme for foreign investors abolished
- Chambers Global Practice Guides – Private Wealth 2026: Netherlands
- Chambers Global Practice Guides – Alternative Funds 2026: Netherlands
- Loyens & Loeff – Prinsjesdag 2026 update for family-owned businesses
- AFM – Investment firms register explanation
