Amdax sees more business investors due to Box 3 uncertainty
8 September 2026
Amsterdam, September 15, 2026 - Amdax has seen applications for business accounts rise over the past few years. The fiercer the political fight in The Hague over the wealth tax, the greater the interest seems to grow. More and more investors are exploring how to hold bitcoin and other digital assets through a BV (a Dutch private limited company). In those conversations, Box 3 usually comes up within the first five minutes.
For Amdax, this is a striking side effect of the years-long debate over Box 3. While The Hague is still working on a new tax system for wealth, investors are already making their own moves. They are sitting down with tax advisors and accountants to work out whether investing through a BV is a better fit for their assets and investment horizon.
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The Hague is debating what Box 3 should look like, but investors aren't waiting for the outcome. We're seeing people who have invested privately for years now taking a serious look at a BV. Not because that route is automatically cheaper, but because they want to know where they'll stand over the next ten or twenty years."
The increase comes at a time when Box 3 is once again the subject of political debate.
Why investors are looking at a BV
Tax is naturally part of the picture. Whether investing through a BV works out better than investing privately depends on factors including returns, time horizon, costs, distributions, and personal circumstances. For some investors the math is favorable; for others it isn't.
But Amdax finds that the conversation now goes beyond the tax rate alone. Investors are making plans for ten, twenty, or thirty years, and in the meantime they watch the rules around wealth change again and again. That uncertainty is something they factor into their decisions.
With bitcoin, there's the added reality that its value can rise or fall sharply in a short space of time. The prospect of owing tax on gains without having sold any bitcoin raises questions, since a tax bill still has to be paid in euros.
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An investor can plan for price risk. It's much harder to plan for rules when you don't know what they'll look like a few years from now. After enough changes, that uncertainty becomes part of the calculation itself."
A BV isn't automatically cheaper
Amdax stresses that moving to a BV is not a standard fix for Box 3. A BV comes with its own tax regime, administrative costs, and legal obligations. Transferring existing private assets can also carry tax and legal consequences.
For that reason, Amdax does not give tax advice on the choice between investing privately or through a business. Clients weigh that decision together with their tax advisor and accountant. Amdax can then handle the business account, onboarding, and custody.
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What's telling about our numbers isn't that they prove a BV is cheaper, but that more and more investors are asking the question at all. The Hague is trying to change Box 3, and in doing so it's changing how investors behave."
About Amdax
Amdax is an Amsterdam-based crypto asset service provider offering custody, transfer of crypto assets, trading, staking, and asset management. The company serves private individuals, businesses, and institutional clients. More information: amdax.com.
Note to editors
Lucas Wensing is available for interviews and background on the rise in business applications and the questions Amdax is receiving from investors on the subject.
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