The statutory consideration period for an application to be authorised as a trust office is thirteen weeks. The consideration period will start when we have received your application for a licence.
We will start reviewing your application immediately after receiving it. This marks the start of the 13-week consideration period. We will first check that you have completed the application form in full and included all required documents. If we find that information is missing, you will be given the opportunity to supplement your application within a specified deadline. The consideration period will then be suspended. See also: Application process timeline
The licence application involves several steps. For example, after our first review of your file, we may ask you to provide additional information. We may also request a meeting with you and we may need to assess your company's policymakers. We have illustrated the various steps for you. DNB has created an animation showing how licence applications are processed.
The total time taken to process your application depends greatly on its quality and completeness and the additional information you supply. If it is inadequate, we may need more than thirteen weeks to come to a decision.
To ensure that your application is dealt with smoothly, we have set out a number of success factors(link) for you. If you have any further tips or suggestions, please send them to us(link) and we will include them in this list.
De Nederlandsche Bank (DNB) imposed a fine of €10,000 on trust office Lewben Netherlands B.V. (Lewben) on 19 January 2023. The fine was imposed for Lewben's failure to commission audits during the period from 1 January 2019 to 7 September 2021.
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De Nederlandsche Bank (DNB) imposed an administrative fine of €3,125,000 on trust office TMF Netherlands B.V. (TMF) on 2 March 2023. The fine was imposed because the customer due diligence carried out by TMF did not meet the legal requirements.
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DNB has conducted a series of examinations to assess financial institutions’ compliance with sanctions regulations and, more specifically, whether their compliance operations are fit for purpose. We are happy to share the results of these investigations.
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Did you know that you can track the status of your assessment application in My DNB? As of 11 May 2023 you can see the status of your assessment application in My DNB – Supervisory Applications Service.
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