Our Client Onboarding Process
Local Management’s client onboarding process has four stages: first contact, a fee proposal, client due diligence (KYC), and incorporation. The full process, from first contact to a fully incorporated, registered entity, typically takes up to two weeks, depending on the complexity of the client’s ownership structure. As a DNB-licensed Dutch trust office, every new client goes through client due diligence before any entity is incorporated — this is a regulatory requirement under the Wet toezicht trustkantoren 2018 (Wtt 2018), not an optional step.
1. First Contact
The process starts with an initial inquiry, by phone, email, or referral. We discuss the client’s structure, goals, and jurisdictional needs, and schedule a scoping call to establish which services are relevant: incorporation, domiciliation, director services, bookkeeping, reporting, or corporate secretarial support.
2. Fee Proposal
Once the scope is clear, we issue a fee proposal setting out the services, deliverables, and costs involved. The engagement formally begins once the client signs the engagement letter.
3. Client Onboarding & KYC
Before any work begins on the entity itself, we carry out client due diligence (CDD), as required under our Wtt 2018 trust license. This includes identifying and verifying the company’s ultimate beneficial owners (UBOs), assessing source of funds, and classifying the client’s risk profile in line with Dutch anti-money-laundering regulation. The exact documents required depend on the client’s ownership structure and are confirmed individually during onboarding.
4. Incorporation
Once due diligence is complete, we draft the incorporation documents (articles of association), arrange notary execution of the deed of incorporation, and file the registration with the Dutch Chamber of Commerce (KVK). Once KVK registration is confirmed, the entity is officially incorporated and live.
Contact Local Management to start the process for your company.
Questions about this topic? Talk to Rolf Wemmi, Partner and Director of Corporate Clients at Local Management, via rolf@localmanagement.nl or +31 20 737 2217.