Dutch Finance Minister Warns Bonus Cap Pushes Fintech Firms Abroad

Dutch Finance Minister Eelco Heinen has issued a stark warning to lawmakers: the country's stringent 20% cap on banker bonuses is driving fintech companies out of the Netherlands. Firms that remain struggle to attract IT talent as they compete with industries unburdened by similar restrictions.

"We already knew financial regulations were deterring investments and company establishment," Heinen stated during a parliamentary debate. "Now we're seeing active departures—particularly in fintech." While established players can offset restrictions with high base salaries, early-stage startups rely on bonuses to lure top talent.

The Dutch rule—far stricter than EU counterparts—has long drawn complaints from major banks like ABN Amro and ING Groep about hampered recruitment. Though Heinen didn't name specific departing firms, the exodus threat looms large over Amsterdam's ambitions as a fintech hub.