NETHERLANDS: An Introduction to Wealth Managers
Navigating Wealth: How Dutch HNWIs are Adapting to a Changing Landscape
The Netherlands has long provided fertile ground for the growth and preservation of wealth. Its robust legal system, strategic location within the EU, and tradition of international trade have made it a natural hub for high net worth individuals (HNWIs). However, in 2025, the environment for managing serious wealth is undergoing significant transformation. Shifting tax laws, EU-level regulation, political realignment, and a new generation of wealth-holders are reshaping the strategies and priorities of affluent families and entrepreneurs.
This article explores the most pressing developments impacting HNWIs in the Netherlands, from domestic fiscal changes to evolving attitudes on investment, digital assets and philanthropy.
New political climate: tax reform takes centre stage
The Netherlands formed a centre-right government last year, which includes parties with populist leanings, and which has already collapsed. This political instability adds further uncertainty to the fiscal and regulatory environment for HNWIs. While business-friendly parties have historically advocated for fiscal stability, the increasing focus on perceived wealth inequality has introduced fresh momentum for reform.
Particularly under scrutiny is the taxation of investment income in Box 3. Following legal challenges, the Supreme Court ruled against the previous “fictitious return” system. The Dutch government is transitioning to a system based on actual returns, effective from 2027. In the interim, transitional regimes have added complexity and uncertainty.
Additionally, wealth structuring through holding companies (Box 2) is facing higher dividend tax rates, with proposals to split Box 2 into two progressive brackets. The cumulative effect is prompting HNWIs and their advisers to reconsider long-held asset structures, weighing Dutch tax predictability against relocation incentives.
Transparency and trust: new obligations for private wealth
Across Europe, greater transparency has become the norm, and the Netherlands is no exception. The implementation of the ultimate beneficial owner (UBO) register under the EU’s AML directives has introduced new reporting duties for those with significant control over private entities. Although access to this register has been partially restricted following privacy concerns, disclosure obligations remain in force.
Similarly, the tightened supervision of trust offices and service providers under the Dutch Trust Office Supervision Act (Wtt 2018) has heightened compliance requirements. For family offices, private investment vehicles and cross-border structures, this means an increased need for legal and tax expertise, especially when considering multi-jurisdictional holdings.
Crypto investments
Dutch HNWIs are increasingly allocating a small portion of their portfolios to digital assets; not just Bitcoin or Ethereum, but also tokenised real-world assets and euro-denominated stablecoins. With the Markets in Crypto-Assets Regulation (MiCAR), the pathway to compliant, EU-regulated crypto investment is becoming clearer, though volatility and custody remain key concerns. Some strongly believe in digital assets, while other just regard them as one big ponzi scheme.
Investment shifts: from traditional assets to personalised portfolios
Whereas older generations of Dutch HNWIs favoured defensive portfolios heavily weighted in real estate, fixed income and equities, today’s environment encourages greater diversification. Persistently low yields, inflationary fears and geopolitical risks have made alternative investments more attractive.
Private equity, direct lending, infrastructure and thematic funds, including those focused on AI, healthtech or clean energy, are seeing stronger uptake. Liquidity constraints are balanced against higher return expectations and greater alignment with personal values.
Moreover, professionalisation within family offices has accelerated. More HNWIs are embracing institutional-grade reporting, risk management and due diligence, often seeking co-investment opportunities and access to exclusive deal flow. In this evolving environment, private wealth is no longer just passively managed; it is strategically deployed.
ESG and the next generation: wealth with purpose
Among younger heirs and wealth creators, sustainability is no longer a niche consideration but a core expectation. Environmental, social and governance (ESG) criteria are now integral to investment selection, with many HNWIs requesting portfolios that explicitly reflect their ethical stance. Dutch private banks, wealth managers and (multi)family offices have responded with ESG scoring models and impact mandates. However, the demand from next-generation clients often goes further: they want evidence of real-world outcomes, not just compliance with benchmarks.
Family offices increasingly face generational dialogues about balancing returns with responsibility. For some, this means divesting from fossil fuels; for others, actively investing in social enterprises or B Corps. Advisers play a crucial role in facilitating these conversations and aligning financial goals with personal legacy.
Intergenerational wealth transfer and governance
Over the next decade, private wealth will be passed on in the Netherlands; more than just financial assets, families are transferring values, principles and purpose. We see a rise in family constitutions and governance structures designed to prevent conflict and ensure cohesion. These often include rules on participation in family businesses, voting rights, philanthropic commitments, and even guidelines for family retreats or education.
Tax efficiency remains essential, particularly amid evolving rules on gift and inheritance tax, but emotional alignment and communication are proving just as critical. Advisers supporting HNWIs now act as both technical experts and intergenerational facilitators.
Changing faces: from old money to new tech wealth
The profile of the Dutch HNWI is changing. While many still stem from family businesses and inherited wealth, a growing cohort of entrepreneurs from tech, biotech, private equity and fintech are joining the ranks. Often younger, more global, and more digital-native, they approach wealth management with a different mindset. They demand transparency, expect digital access to portfolios, and are often more hands-on in investment decisions. They also tend to blend personal, philanthropic and business goals more fluidly than previous generations.
This generational shift calls for a new advisory approach; one that combines agility with deep expertise, and holistic planning with a strong grasp of innovation.
Philanthropy 2.0: impact, not just charity
Philanthropy in the Netherlands is becoming more strategic and data driven. Traditional foundations still play a major role, but younger HNWIs often prefer entrepreneurial philanthropy: combining investment logic with charitable aims. There is a greater emphasis on transparency and measurable impact, often enabled by tech platforms that track donations and outcomes in real time.
The Dutch fiscal system supports giving through ANBI (public benefit organisation) status, which provides tax incentives for donations. However, navigating these rules requires careful planning. Legal structuring, cross-border giving and reputational considerations all factor into today’s philanthropic decisions.
Conclusion: adapting to complexity with clarity
For HNWIs in the Netherlands, 2025 presents both challenges and opportunities. From shifting tax regimes and regulatory frameworks to a cultural transformation in wealth values, serious capital now demands serious foresight.
At Providence Capital, we believe that the successful stewardship of wealth depends not just on preserving assets, but on aligning them with a client’s purpose, family dynamics and evolving world views. In a time of complexity, clarity is the most valuable asset of all.