The procedure of expanding your business to the Netherlands requires a few steps before you can execute your trading. This blog will clarify all the steps required and will give you more comprehension of what is needed to begin an organization in the Netherlands!
You need to discover what is the best corporate structure, the process of incorporation, and the appropriate responses to your inquiries. In our start-up counsel, we go through the process, answer your inquiries, and expand on what the accompanying advances will be in the establishment of your organization in the Netherlands. Our Incorporation Consultants can include tax as well as legal direction when appropriate.
Once, you will draft a clear corporate construction as the main priority, you can complete our Application Form. The request form contains questions concerning the corporate construction, the investors and shareholders, share capital, individual information, and a draft of the relative multitude of documents we need to collect from you. This information is needed for us to comprehend your company and figure out which precise documents are required for our next step. Based on the Application Form, we can send you a customized quote, albeit, by and large, our standard organization package fee applies.
Collection of Documents
In order to begin your company formation, we need to distinguish each involved director, investor, or shareholder along with the following documents
- A passport copy
- Residential address proof
- Signed Ultimate Beneficial Owner(UBO)/Politically Exposed Person(PEP) Declaration
- Finished Order Form by each stakeholder (given by ODINT)
- Discretionary: Any supporting/background records needed to consent to Know Your Client(KYC) regulations
In case a corporate director/shareholder will be delegated, we need at least the accompanying reports
Applying for licenses and permissions is one of the most vital measures to do when establishing a BV in the Netherlands. Among these are the following:
- Authentication of Good standing/legal opinion (or comparable) which shows the appointed directors/shareholders of the organization
- Arrangement Deed/Statutes to decide whether the director is permitted to act exclusively
- Passport copy/verification of the address of the head of the corporate body
Once we have received these archives, we can proceed with the incorporation interaction and proceed to the next stage
Office Space Registration & Leasing
In order to legally set up your incorporation in the Netherlands, your company needs a Dutch location. This location can be provided through one of our cohorts, which saves you the complexity of tracking down your business area. Our partners give work locales all through the Netherlands to assure your business can be situated in the most idyllic area for you!
Drafting the Statutory Documents
The articles will be (and should be) drafted in the Dutch language, yet we will help you to present an unofficial interpretation into English or another parlance. Legitimization can be given in English.
In occurrence, the shareholder(s) will visit the notary to sign the Formation Deed; anyhow, if it is inaccessible formation, the notary will likewise draft the Power of Attorney where they will allow the authority to anyone to incorporate the organization on investor’s behalf
The investor’s register won’t be drafted in design however will be given after the formation. We can share an idea upon request. It normally requires two to three days to get the ideas of the notary, and ODINT will at that point share this information with the shareholders, along with the amplification.
If you have any observations and like to make changes, we can inculcate the legal official to do as such.
We can’t advise you upfront on the time the notary may take to play out these changes, or if somewhat further charges will be relevant. ODINT will update before any other costs will ensue.
Approval and Signing
It is getting exciting! You need to sign the documents and return them via email to plan your departure to the Netherlands (to visit the notary, bank, and other included gatherings like the City Council to apply for a tax number)!
If you decide to incorporate the organization distantly, the standard methodology will be different starting from here on, and can decide to visit the Netherlands to open the bank account at a later phase (or not at all!).
Visit the Netherlands, Meet the Notary
We require the endorsement of the consideration at least one week before you intend to visit the Netherlands to incorporate the organization.
ODINT must be able to discuss the particular concept and your roles and responsibilities which will be dealt with interpersonally once you visit the Netherlands.
We require at least one week in advance, scheduling the conference with the notary, the city board, the bank, and potentially different organizations or agencies.
The meeting with the official will roughly take 60 minutes, and it’s important not to forget the passport and original proof of residence in English. Moreover, you need a prerequisite to settle up the share capital, so in case your company is divided into 100 shares of 1 EUR, you can pay 100 EUR in cash (which he will move back to you at a later stage).
The notary might insist on having an official/licensed interpreter present during the meeting if the patron cannot completely comprehend the guideline and remarks. This can even be the situation when the customer talks good English, although that’s very improbable nowadays. ODINT can organize a translator, yet it needs at least one-two day’s reservation ahead of time. The notary should be able to incorporate the company the same or the next day if every necessary record and signature are present.
Registration with the Chamber of Commerce
The last step of the incorporation is the enlistment of the BV with the Chamber of Commerce (same-day service) and the tax authorities.
The organization can be registered online by the notary, nevertheless, sometimes; we join the client at the Chamber of Commerce to enroll the organization in person.
This depends on the accessibility of the notary and/or the time pressure to incorporate the company (For example, when we like to visit the bank the same day, it’s better to manually register the company in person.
After the organization has been enrolled at the Chamber of Commerce, it’s qualified to operate any work movement. Some activities are controlled.
Most managements are permitted without an extra required business license, for example, ‘production’, ‘import-export, ‘consultancy’, and most different administrations. (Unless if it’s more clear the administrations are managed, like banking, Church, University, security/analyst, etc.
The Chamber of Commerce keeps the Trade Register, which contains all data and information about the total BVs (and other business entities) incorporated, or potentially enlisted in the Netherlands, as officially permitted title, date of joining, enrolled address, name, and authority of directors. It is noticed that likewise the name and address of 100% of shareholders is included in the Trade Register.
It is not preferred to reveal the individuality of the shareholder personality of the investor, and recommended to organize shares to be held by a Dutch or foreign third party. (If it’s not too much trouble, consider the forthcoming execution of the European UBO-register.). The data in the Trade Register are uninhibitedly open by the public. In everyday trading, this plays an important source of information for possible business partners and it is an ordinary practice in the Netherlands.
Ready for Business
You are now ready to put your commerce in the Netherlands and develop your business into a completely fledged international venture!
The Netherlands Company Formation timeline
The company formation procedure can be completed within 48 hours. Here we have brought out the functional agenda to finish the organization draft:
- Receiving documents from patrons and filing company formation forms
- Verification and authentication of the documents;1day
- Drafting documents for company formation; same day
- Registering the company in the Chamber of Commerce; same day
- Obtaining tax identification number; 1 day
- Application for an opening bank account; same day
- Application for a VAT number; 1 day
- The tax office provides a VAT number within two weeks, in most cases.
ODINT consulting facilitates companies of all sizes. We can assist you with the company formation process in the Netherlands from all aspects of financial Investment Advisory. It will help you to use your finance in the proper form in right place. We can help you in:
- Selecting the right type of legal entity in the Netherlands
- Consultation with an Incorporation Consultant for an innovative and fresh Business
- Form of application
- Collection of documents
- Formation of the process
- Approval and signing
- Visit the Netherlands; meet the notary.
- Registration with the chamber of commerce
- Ready for business
Get started in few simple steps: Click here and get a free Consultation.
Azhar Ansari is a company formation specialist with 8+ years of expertise in international business. Financial planning, risk management, and other related areas.