CELEX: 62015CA0317
Language: en
Date: 2017-02-15 00:00:00
Title: Case C-317/15: Judgment of the Court (Ninth Chamber) of 15 February 2017 (request for a preliminary ruling from the Hoge Raad der Nederlanden — Netherlands) — X v Staatssecretaris van Financiën (Reference for a preliminary ruling — Free movement of capital — Article 64 TFEU — Movement of capital to or from third countries involving the provision of financial services — Financial assets held in a Swiss bank account — Additional assessment for recovery — Recovery period — Extension of the recovery period in the case of assets held outside the Member State of residence)

10.4.2017   
            
            
               EN
            
            
               Official Journal of the European Union
            
            
               C 112/6
            
         Judgment of the Court (Ninth Chamber) of 15 February 2017 (request for a preliminary ruling from the Hoge Raad der Nederlanden — Netherlands) — X v Staatssecretaris van Financiën
   (Case C-317/15) (1)
   
   ((Reference for a preliminary ruling - Free movement of capital - Article 64 TFEU - Movement of capital to or from third countries involving the provision of financial services - Financial assets held in a Swiss bank account - Additional assessment for recovery - Recovery period - Extension of the recovery period in the case of assets held outside the Member State of residence))
   (2017/C 112/09)
   Language of the case: Dutch
   
      Referring court
   
   Hoge Raad der Nederlanden
   
      Parties to the main proceedings
   
   
      Applicant: X
   
      Defendant: Staatssecretaris van Financiën
   
      Operative part of the judgment
   
   
               1.
            
            
               Article 64(1) TFEU must be interpreted as applying to national legislation which imposes a restriction on the movements of capital referred to in that provision, such as the extended recovery period at issue in the main proceedings, even where that restriction can also be applied to situations which have nothing to do with direct investment, establishment, the provision of financial services or the admission of securities to capital markets.
            
         
               2.
            
            
               The opening of a securities account by a resident of a Member State with a banking institution outside the European Union, such as that at issue in the main proceedings, comes within the concept of a movement of capital involving the provision of financial services, within the meaning of Article 64(1) TFEU.
            
         
               3.
            
            
               The possibility, provided for in Article 64(1) TFEU, for Member States to apply restrictions on capital movements involving the provision of financial services also applies to restrictions which, like the extended recovery period at issue in the main proceedings, are not related to either the provider of the services or the conditions and mechanisms of the provision of services.
            
         
      (1)  OJ C 311, 21.9.2015.