Foreign investment in the Netherlands rises again after years of decline
Foreign companies invested €72 billion in the Netherlands in the first half of 2026, and DNB says a rise in outward investment suggests much of it is passed on to other countries.
Foreign companies and investors put €72 billion into the Netherlands in the first half of 2026, mainly from the United States and also from Germany. The figures come from De Nederlandsche Bank (DNB), the Dutch central bank. The Netherlands is again attracting more incoming direct investment than is being withdrawn.
Inward investment turned strongly positive in 2026 after two years of swings
EUR million · 2024 Q1–2026 Q2
Inward investment turned strongly positive in 2026 after two years of swings (EUR million). From 5,089 in 2024 Q1 to 34,793 in 2026 Q2; highest 36,487 in 2026 Q1, lowest -34,555 in 2024 Q4. Source: DNB.
| Period | EUR million |
|---|---|
| 2024 Q1 | 5089.0 |
| 2024 Q2 | -9488.0 |
| 2024 Q3 | 32649.0 |
| 2024 Q4 | -34555.0 |
| 2025 Q1 | 9557.0 |
| 2025 Q2 | -9129.0 |
| 2025 Q3 | 20629.0 |
| 2025 Q4 | -17002.0 |
| 2026 Q1 | 36487.0 |
| 2026 Q2 | 34793.0 |
Outward direct investment from the Netherlands also rose. DNB says this suggests that much of the incoming money is passed on to other countries.
The rise follows a long decline. Between 2018 and 2025, more than €1,300 billion of foreign investment capital left the Netherlands because earlier inward investments were withdrawn. DNB says this appears mainly linked to changed tax legislation. Multinationals now have fewer financial reasons to route money through complex corporate structures in the Netherlands.
The decline also affects Special Purpose Entities (SPEs), often called letterbox companies.
United States and Luxembourg withdrew most
The United States and Luxembourg had the largest disinvestments. Since 2018 their investors withdrew more than €1,000 billion of inward direct investment, over half of it from SPEs. That is more than 77% of all capital withdrawals in the period.
Both countries remain among the five largest investors in the Netherlands, with a total position of €990 billion. The others are Germany, Great Britain and Singapore.
A foreign direct investment means an investor from one country takes a stake of more than 10% in a company in another country.
DNB (De Nederlandsche Bank)
The Dutch central bank. It is part of the European system of central banks and supervises banks, insurers and pension funds.
Special Purpose Entities (SPEs)
Special purpose entities, often referred to as letterbox companies, are subsidiary corporations established by parent companies to manage specific financial operations or isolate financial risk. Foreign multinational corporations use them in the Netherlands to route financial flows such as royalties and dividends. They account for a significant portion of the international capital flowing through the Dutch financial system.