The Dutch BV (Besloten Vennootschap) also called private limited liability company is a popular business form here. It is like American limited liability company or German GmbH. After the changes to the Company law, the set-up procedure of Dutch BV has become simple and the cost in setting up a Dutch BV has been reduced.
Requisitions for incorporating Dutch BV
With regards to the shareholding structures, the BV should have one shareholder who is a legal person. The new Company Law in Netherlands permits the BV company to have one legal shareholder who can work as a manager. It is mandatory for the Dutch BV to have a legit address.
Before the registration of Dutch BV, an incorporation deed and articles of association should be drafted in front of a pubic notary. The documents should be in Dutch with information about management board, shareholders, registered address and share capital authorized.
Characteristics of Dutch BV
Dutch BV is a private limited company where the assets of the investors are secure from the assets of the company, opposite to sole proprietorship. It has legal personality and can enter into agreement. It can have non-transferable registered share.
The BV should pay corporate income tax and also other taxes such as real estate transfer tax, withholding taxes and social security taxes for employers.
The professionals at Intercompany Solutions specialize in different fields concerning business and company law. They will guide you during the incorporation and registration of your company and help you meet all the requirements with ease.
The major steps to incorporate Dutch BV
The first step in setting up a company in the Netherlands such as Dutch BV is to get the statutory documents of the company drafted as well as notarized. The next steps are as follows:
· Get a company name. it should be unique and abide by the legal requirements imposed by the Company Law.
· Present the incorporation deed and articles of association with the Registrar.
· Get a registration number with Chambers of Commerce
· Register with the tax authorities
· Register with the social security authorities
Open a bank account
It is mandatory to open a corporate bank account when registering a BV in the Netherlands. But, you don’t have to do it before the registration of the company.
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It is essential to open an account in Dutch bank. If the shareholders choose to open an account in the local bank, they can appoint a local direction for the company and open an account depending on the company’s Articles of Association and Registration Certificate provided by the Companies Register.
Purpose of BV company in the Netherlands
BV company has several benefits, one of the major one is that this structure can be used for different purposes.
· The BV can be used by foreign companies looking forward to set up subsidiaries in the Netherlands.
· It can be used for trading by foreign investors who want to start their business here.
· It can be used as offshore company by foreign businessmen.
If you want to open a Dutch BV company, our representatives can help you with more information.