3 Reasons Why Having an EORI for Your Dutch B.V. is So Important

3 Reasons Why Having an EORI for Your Dutch B.V. is So Important

If you’ve taken on the exciting task of starting a company in the Netherlands, or if you’re considering doing so, obtain an EORI number will benefit you greatly. This is a particularly important step if you’re doing import and export business in the Netherlands.

What are EORI numbers in the Netherlands?

The abbreviation of EORI represents Economic Operators Registration and Identification. It’s an individual code that every economic operator in the Netherlands and throughout the European Union should have. The EORI is akin to a company’s unique stamp. For Dutch business owners, it is an individual code assigned by the Customs Administration of the Netherlands to a Dutch entity. This unique number is valid in all European member states, because your Dutch company EORI number would be entered into a database of the European Commission. The purpose of an EORI Number is for Customs in all EU member states to identify a trader — in this case, a Dutch company.

What are the benefits of having an EORI number?

There are many reasons why EORI numbers in the Netherlands can benefit you and your business:

1. If your Dutch B.V. is doing international business, such as importing and exporting to countries outside the EU or trading inside the EU, it is actually mandatory that you have applied for an EORI number.

2. Applying for an EORI number for your Dutch company will make your import and export business much easier. If you are doing import or export business within the Netherlands, having an EORI will expedite the entire process, as goods will pass through customs more swiftly.

3. Having an EORI number will help you to deal with Customs declarations in foreign countries. The process will be much faster and easier. Your aim is to get your goods to the final destination and pass through Customs more swiftly, right? Imagine, if your goods are supposed to arrive from Asia to your warehouse in the Netherlands, and your forwarding company found out that your Dutch B.V. has no EORI number, it would cause a delay in Customs clearance, which I am sure no one wants to face.

There are no drawbacks and so many advantages to applying for an EORI number.

If this is so important, how do I apply for an EORI number in the Netherlands?

If you have a Dutch B.V. and you are doing a Customs declaration in the Netherlands, you do not need to apply for an EORI number separately. This is because all Dutch legal entities, such as a Dutch B.V, have a KVK number and an RSIN number, and the composition of an EORI number can be found in the RSIN number. This number is shown on the Dutch company’s KVK extracts. If you dont know how to download an extract from KVK,  Click here to request a guide – How to download an extracts from KVK. 

However, if you are doing a Customs declaration outside the Netherlands, it is important that you apply for an EORI number before you a Customs declaration id made in a foreign country. A good example would be as follows: After Brexit, the UK is no longer a part of the EU. If your company does export business to the UK, you may need to apply for a EORI number to continue the business without causing tremendous problems with meeting deadlines, selling your product, or maintaining business relationships.

There are two ways you can apply for an EORI number in the Netherlands:

1. You can apply by yourself from the website of the Dutch tax authority. Click here for more information.

2. Alternatively, if you are worried that applying for an EORI will be confusing and time-consuming, we have simplified this process for you. There’s no need to deal with the stress of understanding the application or wait for months. For the minimal fee of €50 + VAT, we will assist you in obtaining an EORI number.

By utilizing our EORI application service, the process becomes simple, fast, and reliable. Instead of worrying about how to apply for the number, you can focus on running your business, and let us take that stress off your hands. If you reach out to us now to start the process, you can have your EORI number in just two weeks.

Contact us today or send us an email at info@DutchBusinessIncorporation.com. We’re happy to answer your questions and assist you in obtaining an EORI number.

FAQ APPLY FOR AN EORI NUMBER

What are EORI numbers in the Netherlands?

The abbreviation of EORI represents Economic Operators Registration and Identification. It’s an individual code that every economic operator in the Netherlands and throughout the European Union should have.

Our Dutch BV imports electronic bikes from China to the Netherlands, do we need to apply for an EORI number?

Yes, you do need a EORI number. In addition, you may want to apply for the Article 23 permit which means you are not required to pay the VAT on import immediately.

How can I apply for an EORI number?

There are two ways you can do it.

1. You can apply by yourself from the website of the Dutch tax authority. Click here for more information.

2. Alternatively, if you are worried that applying for an EORI will be confusing and time-consuming, we have simplified this process for you. There’s no need to deal with the stress of understanding the application or wait for months. For the minimal fee of €50 + VAT, we will assist you in obtaining an EORI number.

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3 Reasons Why Euro 25 Can Save You from Having A Nightmare When Dealing with Official Dutch Letters

3 Reasons Why Euro 25 Can Save You from Having A Nightmare When Dealing with Official Dutch Letters

You have incorporated your company in Holland and soon receive an official correspondent in the Dutch language. The only problem is that you don’t speak Dutch and have no idea what it says. You try running it through Google Translate but as often happens the resulting text makes little sense and only leaves you more confused.

At a loss as to what to do, you lay the letter aside and get on with business as usual. Then you receive another letter with the same heading and begin to think that perhaps you should respond. How are you supposed to respond though, when you are not even sure who the letter came from?

You could contact an attorney but bilingual corporate lawyers don’t come cheap and your small company is on a tight budget. So, you hesitate. Then another letter arrives and even though you don’t know the word “Dwangbevel in naam van de Koning“, just the change in formatting is enough to tell you the letter is urgent. Now, your anxiety level really starts to climb.

Does this sound familiar?

At Dutch Business Incorporation we have had clients that honestly believed that they wouldn’t have any official transactions for the first year and failed to do any of the mandatory filings. These were costly mistakes.

One client ignored at least two letters from the tax authorities and ended up having to pay large sums in late filing fees and fines. Another disregarded repeated emails and posts from his bank. He thought everything was in order and since he didn’t read Dutch just took them for regular correspondents. This resulted in his accounts being frozen; virtually shutting down his business until a meeting could be arranged with the bank’s director to straighten out the whole mess. Both of these gentlemen learned very expensive lessons.

Of course, things didn’t have to reach such critical levels. They could have promptly taken matters into their own hands and we have had clients who have tried but this is how that scenario usually played out. We will use one person’s experience with the tax authority for an example.

They recognized what could only be a phone number on the letterhead and were brave enough to pick up a phone to call the tax authority. The phone was answered by an automated service and they heard messages in Dutch which they didn’t understand so they waited and waited…. Finally, someone picked up the phone and they asked to speak to someone in English and then waited some more while the call was transferred. After an eternity someone answered the phone whose command of English was “Hello, not my department, I transfer you.” This cycle continued several times until after an even longer wait than normal the call got disconnected.

All the above situations could have been easily avoided.

Perhaps you have a Dutch BV to run but aren’t based in the Netherlands. Maybe you have relocated but you don’t speak or read Dutch. Perhaps you just don’t enjoy spending your valuable time dealing with Dutch officials. In any of these cases we can help.

You could think of us as providing insurance for your peace of mind. For only Euro 25 per month, we can help you to deal with all the correspondence and your other interactions with Hollands official bodies.

Contact us today or send us an email at info@DutchBusinessIncorporation.com. We’re happy to answer your questions and assist you in dealing with any correspondence.

FAQ DEALING WITH DUTCH OFFICIAL LETTERS

I have set up a Dutch company in Holland, are the offical correspondence in English?

No, they are all written in Dutch.

I want to open a traditional dutch bank account for my Dutch B.V., are the correspondence in Dutch or English?

The majority of them send their emails and offical letters in Dutch.

I have received a letter with this phase Dwangbevel in naam van de Koning, what does it mean?

It means that the tax authority has not received any response from you despite reminders. A fine has been incurred as a result of it.

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3 annual filing requirements for a Dutch B.V.

Filing Annual Accounts: Dutch BV Taxation

Registering your business in the Netherlands isn’t the end of the process, you’ll need to take care of the financial aspects of your new company. That means handling the Dutch BV Taxation and annual accounts. When it comes to that, we’re here to help!

Handling Dutch Business Annual Accounts

Once you’ve registered your Dutch BV with the Chamber of Commerce, it is the company director’s responsibility to file an annual account each year.

The deadline to file is within 12 months after the financial year-end.  

Annual accounts have to be approved by company directors, then adopted by the shareholders on a yearly basis. Once these have been adopted by the shareholders, the accounts must be submitted to the Chamber of Commerce within eight days. 

If for some reason you are not able to file the accounts within the required timeframe, you are responsible for filing a provisional account until the final accounts are ready.  

Corporate Income Tax 

Dutch company law mandates that your new B.V. or N.V. needs to file corporate income taxes within six months of the financial year-end. The Netherlands business tax rate depends on how much business you do in the year:

  • If your taxable profit is less than €200,000 in 2020, then your tax rate is 16.5%
  • If your taxable profit is more than €200,000 in 2020, your tax rate is 25%

Another enticing reason to expand to the Netherlands is because for the past few years the Netherlands company tax rate has been reduced each year. In 2019, the tax rate for businesses that have a profit less than €200,000 was 19%.

While the tax rate for businesses that make more than a €200,000 profit has remained at the 25% rate, the reduced tax rates are optimal for start up businesses. It’s suspected that the business tax Netherlands rate for business with a profit less than €200,000 will be reduced to 15% in 2021. Additionally, the tax rate for businesses with a taxable profit is more than €200,000 could also be reduced to 21.7%.

Netherlands VAT: Value Added Tax

Businesses are subject to a Netherlands VAT, this is also known as a “BTW” in Dutch. The value added tax in the Netherlands is a consumer tax. In essence, it is the end user that bears the tax. If your company is registered with VAT, you do not need to pay the VAT for all of the goods and services that you pay for the operation of your company.

The standard VAT Netherlands rate for the majority of goods and services is 21%. You are required to file your VAT return within 30 days from the end of the Quarter. For Q1 which runs from January to March, the deadline for filing a VAT return is April 30. You are required to file a return even if it’s for nothing.

Invoicing VAT to Clients and Customers

When you issue invoices you need to share your Netherlands VAT number on your invoice. And when you receive VAT payments from clients and customers, you need to set aside the VAT amount because it needs to be paid back to the tax authorities.

Paying VAT to Suppliers

When you get a bill from a supplier, you need to receive an invoice that shows their VAT number. As a company registered with a Dutch VAT, any VAT you pay upfront will be refunded by the Dutch tax authorities. When you’re given a VAT number from a supplier, you should double-check that it’s valid by visiting the VIES VAT number validation website.

Reconciling VAT

At the end of every quarter, you need to make sure to file your VAT on time to ensure that you get back the money you spent on VAT or pay back the extra. This is how the VAT Works: 

If the amount of VAT that you received from your client invoices is more than the amount that you paid for the supplier invoices, you need to pay the difference to the tax authority. But if the amount you paid for the supplier invoices are more than what you received from your clients invoices, you will be subject to a refund from the tax authority. 

 


Your Financial Team In The Netherlands

We know that the financial aspects of your business can seem overwhelming, especially when you’re dealing with a new country’s laws. But fear not, we know what we’re doing!

We can take care of all of your annual compliance needs from bookkeeping and handling your quarterly VAT returns to filing your annual accounts documentation and completing your corporate income tax return. That way you have nothing to worry about!

We provide quality services to our clients and are happy to respond to requests and enquiries within 48-hours. Contact us today


Our Process:

  1. Choose your package below;
  2. Provide us with the necessary documents;
  3. We connect our accounting software to your bank accounts;
  4. Voila, all done!


Pricing

There are no hidden fees and you can cancel at any time. 

Start up companies
€ 1,300 per year + VAT (save €100)
Price per quarter € 350
20 transactions per month
prepare VAT return
prepare annual account
filing annual account at KVK
prepare Corporate Income tax
Minutes approving annual account
 
Medium size firms
€ 1,500 per year + VAT (save €180)
Price per quarter € 420
20 – 80 transactions per month
prepare VAT return
prepare annual account
filing annual account at KVK
prepare Corporate Income tax
Minutes approving annual account
 
Large size companies
€2,200 per year + VAT (save €280)
Price per quarter € 480
80-140 transactions per month
prepare VAT return
prepare annual account
filing annual account at KVK
prepare Corporate Income tax
Minutes approving annual account
 

Need something else? Check out our other services:

  • VAT registration 
  • Deal with VAT refund to a destinated bank accounts
  • Dealing with incoming mails
  • Virtual office 
  • How to use internet banking
  • Open a bank account 

Dutch BV Taxation FAQs

What are the Dutch BV taxation rates?

In 2020, the Dutch company tax rates are as follows:

If your taxable profit is less than €200,000 in 2020, then your tax rate is 16.5%.

If your taxable profit is more than €200,000 in 2020, your tax rate is 25%.

What is the Netherlands VAT?

The Netherlands Value Added Tax is a consumer tax. In essence, it is the end user that bears the tax.

Does my business need to pay the Netherlands VAT?

If your company is registered with a Netherlands VAT, you do not need to pay the VAT for all of the goods and services that you pay for the operation of your company.

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The importance of appointing a Company Secretary for a Dutch B.V.

 

The importance of appointing a Company Secretary for a Dutch B.V.

If you want to set up a Dutch B.V in the near future, or even if you have already registered a Dutch B.V., it is important to understand what it means to be appointed as a Dutch B.V. director and how a company secretary can help minimize your burdens, including the very real possibility of being fined.

For those of you from Commonwealth countries, the title of “company secretary” is a familiar one. In the Netherlands, however, there is no legal requirement for a Dutch B.V.

Although there are no legal requirements, we are going to examine whether it is worth spending the money (as little as 50 Euros per month) to appoint a secretary for a Dutch B.V.

Let’s first examine the most important questions together:

What is a company secretary? 

The company secretary is also known as a corporate secretary. They can be seen as a company’s internal housekeeper. They are responsible for ensuring that the statutory and regulatory requirements of a Dutch B.V. are complied with after a Dutch B.V. is incorporated.

What are the primary roles of a company secretary? 

Although the role of a company secretary in a small company is different from that of a listed company, there are general responsibilities that the secretary assumes:

• Support the board of director’s functions efficiently and effectively.
• Ensure that the company complies with its legal and statutory requirements.

Why is having a company secretary pertinent to a Dutch company’s success? 

Although there is no legal requirement in the Netherlands to appoint a company secretary to assist the board of directors with fulfilling compliance issues, the responsibility of a Director under Book 2 of the Dutch Civil Code and Articles of Incorporation (which is comparable to the Memorandum and Articles of Associations combined) still apply. Accounting requirements are prescribed by  law, and the secretary can help with the following requirements:

• The first annual accounts MUST be filed not more than two calendar years after the formation of the company.

• Subsequent accounts MUST be filed within five months of the accounting year-end. It is possible to request an extension with the shareholders’ approval.

• Corporation income tax returns MUST be filed within 6 months of the end of the accounting year. Again, it is possible to file for a deadline extension, by means of a written request submitted to the tax authority.

• A VAT return MUST be filed at the end of the month following each quarter-end. For example, the first quarter (January to March) VAT return should be filed before the end of April. In some cases, you can apply to the tax authority to file a VAT return monthly.

It is very important to understand that non-compliance with the filing requirements within the timeframe can lead to HUGH FINES or, in extreme cases, BEING STRUCK FROM THE COMPANY HOUSE “KVK”.

It is the director who is responsible for ensuring that all the filing requirements are fulfilled under the Dutch civil code — not your accountant, bookkeeper, or tax advisor. If a Dutch B.V. is late filing a return or late making a payment, a BIG FINE will be imposed on the Dutch B.V. We have seen it many times!

If you receive such a letter from the tax authority notice, do you know how to deal with it?

Do you know how to respond immediately without further escalating the fine?

Do you wish that you had someone to take this problem away so that you can focus on profits and success?

How can you solve the problem of possible fines? 

Dealing with the legal requirements and facing fines would be even more frustrating if you cannot read and speak Dutch fluently. Google Translate will not effectively help you fully understand what the legal requirements are and how you can prevent fines.

That is why the investment of just 50 Euros per month for a company secretary is well worth spending; it’s just like insurance, whereby you have peace of mind that any official or incoming letters will be dealt with effectively and appropriately.

Saving you money, stress, and time in the long-run. After one year, you can cancel the services, if you find that you no longer need the extra insurance and peace of mind for some reason.

Hiring a company secretary is the best investment you can make as a Dutch director, as it will ensure that statutory and regulatory requirements in your company are complied with. At the end of the day, it’s a small investment to make sure you properly manage your Dutch B.V. and avoid hefty fines and penalties.

Contact us  today or send us an email at info@DutchBusinessIncorporation.com 

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How to find the best bookkeeper or accountant in Amsterdam?

How to find the best bookkeeper or accountant in Amsterdam?

Delegating bookkeeping requires a lot of trust and confidence in the person handling your business’s most sacred information. Finding a good bookkeeper (boekhouder in dutch) or accountant in Amsterdam is often time-consuming and frustrating; the fee varies depending on the experience and qualification of the bookkeeper/accountant.

Are you wondering how you will find the best bookkeeper in Amsterdam? Worry not because we can help you!!!

Our experienced bookkeeper/accountant will assist with keeping track of transactions in and out of the firm. That means the bookkeeper will handle all the invoices, receipts, bank transfers, and all the bookkeeping and administration required by a Dutch B.V.

What should I expect of the quality of a bookkeeper and accountant?

If you are looking for the right bookkeeper for Dutch B.V., don’t always look for the cheap one, look for the efficient accountants, the one who will stick to the deadlines, the one that would think together with you, the one who will help you solve your problems and accelerates your business goals achievement in the Netherlands.

It is very important to take your time, do due diligence to assess the competence of bookkeepers. The most qualified bookkeepers for the book are those with the right level of education, high level of experience and who have patience and passion with their jobs.

Some bookkeepers will only commit to the bookkeeping and let you run your business as you wish; however, the best ones will help you analyze the outcomes from your business and help you with the decisions.

Directors’ responsibility

A director has the full responsibility of the administration and the compliance of a Dutch company, you cannot blame your bookkeeper while the director has signed off whatever documents filed at the public domain or with the tax authority. Therefore, it is important to check everything keenly to ensure all the details in the records are in order.

Can you imagine having to pay penalties due to your bookkeeper’s errors just because you never took enough time to find the right one?

Being in business is itself a big risk. Therefore the bookkeeper should save you the agony of having to face more risks that can be handled without conflicting with the owner’s interest.
However, we have some good news for you. There are still many qualified and experienced people out there offering quality bookkeeping services. We consider ourselves among one of them because of the below reasons:

1. Our commitments to our clients
2. We have the right qualification
3. We have many years practical working experience
4. Our passions of what we do
5. Our patience towards our clients
6. Our can-do attitude
7. Our solving problem mindset
8. We are extremely services orientated
9. We think together with our clients.

To save your time to screen through all the service providers in the market, go on and contact us for a non-commitment fee quote today,

What we offer?

We offer and provide the full administration and bookkeeping services.
We serve all start-up and small and medium sides business entities. Our accounting service cover the full compliance which is required for a Dutch B.V. It includes;

• Bookkeeping;
• Preparing and submitting quarterly VAT returns;
• Preparing and submitting annual accounts at the KVK
• Preparing and submitting Corporate income tax return

You can also send us an email at info@dutchbusinessincorporation.com

Bookkeeper FAQs

How to find a good bookkeeper in Amsterdam?

Our experienced bookkeeper/accountant will assist with keeping track of transactions in and out of the firm. That means the bookkeeper will handle all the invoices, receipts, bank transfers, and all the bookkeeping and administration required by a Dutch B.V.

What should I expect of the quality of a bookkeeper?

If you are looking for the right bookkeeper for Dutch B.V., don’t always look for the cheap one, look for the efficient accountants, the one who will stick to the deadlines, the one that would think together with you, the one who will help you solve your problems and accelerates your business goals achievement in the Netherlands.

Do you offer bookkeeping services in Amsterdam?

Yes, we offer and provide full administration and bookkeeping services. We serve all start-up and small and medium sides business entities.

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How to set up a Dutch B.V. (Besloten Vennootschap)?

Setting Up a Dutch BV Company

The Besloten Vennootschap or the Dutch B.V. is one of the most common company structures in the Netherlands. It represents a private limited liability company frequently used by both foreign and local investors to carry out business activities in the Netherlands. 

Over the last six years, setting up a Dutch BV corporation has become easier and more affordable. For example, in July 2011, changes to Dutch company law abolished the need for a ministerial “Declaration of No Object”, which shortened the Dutch BV company formation process and lowered the costs. Then in October of 2012, the flex B.V. act came into force which eliminates the minimum capital requirement to set up a Dutch BV company—this was previously set at €18,000.

How to Set Up a Dutch BV Company?

To set up a Dutch BV, you’ll need to fill out the required paperwork. This typically means that a public notary will draft your Deed of Incorporation (similar to an Articles of Association, which need to be in Dutch). These contain information such as your business activities, a regulation of a company’s operation shareholders, define the responsibility of the director, share capital, registered address, and your management boards. 

From there to complete your Netherlands BV registration, you need to verify the company name, collect due diligence documentation, submit your notarized documents and deed of incorporation, register with the tax authorities and commercial registry, and open a bank account. Once all of that is squared away, you’re going to start operating in the Netherlands!

What you need:

  1. Proof of your identity—copies of notarized passports of the director(s) and shareholder(s) of your new Dutch BV.
  2. Proof of address—required for both your director(s) and shareholder(s) of the BV. This could include something simple like a utility bill or a bank statement.
  3. Address in the Netherlands—your Netherlands BV will need a registered office with an address that is located in the country for formal correspondence. 

What you don’t need:

  1. Dutch director—a foreign person can be appointed as the director of a Dutch BV.
  2. Company secretary—while you do not need to fill this role, it’s highly recommended that you appoint a service provider to help stay on top of the Dutch laws indicated in the articles of incorporation (akte van oprichting). 
  3. Dutch bank account—while this is also not compulsory, having one will make it much easier to do business in the Netherlands and other European countries. Get more information about opening a bank account in the Netherlands.

Get started with your Dutch Company formation today!

While Dutch BV company formation has become both easier and more affordable, it’s way better when you have help. That’s where Dutch Business Incorporation comes in.

We are dedicated to making the process of doing business in the Netherlands as easy as possible for our clients. Our job is to handle the complexities and intricacies of the process, so that you don’t have to worry about it.

We’ve been doing this for a long time, and we’ve established an easy-to-navigate five step process to help you set up your Netherlands business. 

Our Netherlands BV Formation Process:

  1. You fill out our client questionnaire—this helps make sure we’re all on the same page and gives us a little extra information about you so we can get the job done.
  2. We review the documentation to make sure that everything’s in order before we start the paperwork.
  3. We engage our Dutch notary who prepares your deed of incorporation (akte van oprichting), which is submitted in Dutch. 
  4. We register your brand new BV with the chamber of commerce in the Business Register.
  5. We collect the KVK Extract (Uittreksel) for you. 

At the end of the process, you receive a copy of the deed of incorporation both in Dutch and English, a shareholder register and an KVK Extract by email.

Check out Our Dutch BV Formation Packages to see which one suits you the most.

Dutch Besloten Vennootschap BV FAQs

What is a Dutch BV?

The BV abbreviation business stands for Besloten Vennootschap. It is a private limited liability company used by foreign and local investors to carry out business activities in the Netherlands. 

How do you register company in Netherlands?

To set up a Dutch BV, you’ll need to fill out the required paperwork. This typically means that a public notary will draft your Deed of Incorporation (which is similar to an Articles of Association, which need to be in Dutch). These contain information such as your business activities, shareholders, share capital, registered address and your management boards. 

From there, you need to verify the company name, collect due diligence documentation, submit your notarized documents and deed of incorporation, register with the tax authorities and Dutch company register, and open a bank account. Once all of that is squared away, you’re going to start operating in the Netherlands!

Is a Dutch BV a corporation?

Yes, a Dutch B.V. is a private limited liability company.

Why do companies incorporate in the Netherlands?

The Netherlands is a great place to incorporate a company for a number of reasons. Some of our clients decide on a company formation in the Netherlands because they are looking to test the market, gain access to the EU business channels or get a VAT deferment licence, the Netherlands is a great place to start. Not only that, but its one of the top English-speaking countries in the EU. 

What does BV mean in business?

“BV” means Besloten Vennootschap. It is a private limited liability company in the Netherlands.

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Why do I think Amsterdam is the best city in which to start a business and raise a family?

Before I started my own business in Amsterdam, I worked for many big corporate companies in different countries such as Hong Kong, Beijing, London, Amsterdam and Luxembourg.

My first impression of Amsterdam, like many others, was of the Red Light District and legal pot. However, when I got to know the city, I fell in love with it. Amsterdam is such a beautiful city, endowed with a rich culture and history. It has many museums displaying paintings; masterpieces created by Rembrandt, Vermeer and Van Gogh, countless canal houses, each with a unique character and many bicycles which most people use as daily transportation.

Amsterdam provides an excellent infrastructure. Schiphol airport is just half an hour away from central Amsterdam and high speed trains are well connected to many cities such as Paris, Berlin, Brussels and Zurich. Furthermore, by the end of 2017, Eurostar is set to launch a new high speed direct train service to London from Amsterdam. It is such a beautiful hub in this part of Europe. With such good connections, one can easily hop onto a morning train to Brussels or London for a business meeting and still have enough time to pick up your children from school or day-care.

The Dutch education system is among the best in the world. Schools are free and available for all children from the age of 4. The Dutch believe that the most efficient way of learning is through playing and most of the elementary schools (Basicsschool) only teach the children reading and writing from the age of 6. It is, perhaps, considered late when compared to other countries. Talking from personal experience, having spent equal amounts of my working life in both Europe and Asia, the Dutch are among one of the most competitive and innovative nationalities in the business world.

Incorporating a business in the Netherlands is both fast and affordable; it takes ONLY one day providing that all the required documents are submitted to the notary beforehand. The workforce in Amsterdam is skilled and educated. Most of the Dutch population (young or old) speak good English. You do not need to learn Dutch before settling down here.

In addition, the Dutch government provides a good business climate that attracts business owners and start-ups from all over the world. It is then, no wonder, that 176 different nationalities living and working here – a diversity that is unique in any city!

Dutch Business Incorporation helps our foreign clients set up their business in the Netherlands.

 

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The role of company secretary in a Dutch B.V.

For those of you from Commonwealth countries, the title company secretary is a familiar one. In the Netherlands, however, there is no legal requirement for a Dutch company to appoint a company secretary.

So what is a Company Secretary and what is their role?

The company secretary is also known as a corporate secretary. They can be seen as a company’s internal housekeeper. They are responsible for ensuring that statutory and regulatory requirements are complied with.

A company secretary’s role differs depending on company size. The role of a company secretary of a small company is different to that of a listed company. However, there are general responsibilities that can be assumed:

Support the board of director’s functions efficiently and effectively.

-Ensure that the company complies with its legal and statutory requirements.

Although there is no legal requirement in the Netherlands to appoint a company secretary to assist the board of directors with fulfilling a company’s compliance issues, the responsibility of a director under Book 2 of the Dutch Civil Code and articles of incorporation (which is comparable to the Memorandum and Articles of Associations combined) still apply.

Some of the director’s responsibilities are listed as follows:

Ensure company compliance with legal obligations;

Update records held by the Kamer van Koophandel (or “KvK”), the Dutch chamber of commerce, such as a change of registered office, change of company activities, appointments and resignations of directors, and appointment of proxy holders;

-Record the decisions made by the company and safeguard the minutes of general and board meetings;

-Ensure dividends are paid in accordance with legal requirements;

-Prepare annual accounts, and submit them to the AGM for approval and filing at the KvK within the required timeframe;

-If a Dutch company has employees, other administrative duties apply such as ensuring that wage tax is paid to the tax authority by the set deadline;

-Ensure VAT returns are submitted to the tax authority within the required time frames;

-Maintain the company’s book and records for at least seven years.

 

Accounting Requirements are Prescribed by Law

The first annual accounts must be filed not more than two calendar years after the formation of the company.

Subsequent accounts must be filed within five months of the accounting year end. It is possible to request an extension with the shareholders’ approval.

Corporation income tax returns must be filed within 6 months of the end of the accounting year. Again, it is possible to file for a deadline extension, by means of a written request submitted to the tax authority.

A VAT return must be filed at the end of the month following each quarter end. For example, the first quarter (January to March) VAT return should be filed before the end of April. In some cases, you can apply to the tax authority to file a VAT return monthly.

Non-compliance with the filing requirements within the timeframe can lead to fines or in extreme cases, being struck from the KvK.

What are the cost? 

As little as Euro 50 + VAT per month, all the above aspects are covered.  Furthermore, we can assist with dealing with incoming correspondence.  Normally all the official letters are in Dutch.

We, Dutch incorporation business, offer different service packages depending on your needs. For more information, please visit our website www.DutchBusinessIncorporation.com or email us at info@DutchBusinessIncorporation.com

 

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