
Incorporate a BV, Firm24 vs a regular notary
1. Exploring your optionsAs an entrepreneur you will need to explore your best options. This is the phase where you will most likely be seeking advice and help. Most entrepreneurs do not have the substantive knowledge if it comes to incorporating a company, such as the tax or the legal consequences. To make sure you chose the legal form and structure that suits you and your business, we would always recommend getting the right advice.Advice at a regular notaryHaving to make an appointment to get advisedOnly being able to request information through emailAlways being charged the hourly rate when given adviceOnly being able to have contact with your notary during working hours (9am - 5pm)Advice at Firm24Speaking to competent advisors directlyAdvice and contact through phone, chat or emailFree advice and help before, during, and after the processOpen 7 days a week (until 10:00pm on weekdays)2. The procedure of requestingWhen you feel like you have enough information on what legal form and structure suits you best, it is time to start the procedure. This is where you decide how the business is going to operate; what will the exact structure be, who will hold the shares, who will be the directors and what is the share capital gonna be? Most important: what is the goal of your BV and what will the activities of the company be? Although this is a lot to think about, it is important to get this right straight away. The right assistance is a must, especially when you are starting your first incorporation.Requesting an incorporation at a regular notaryUsually an appointment at the office is mandatoryYou depend on the availability of the notaryAdditional questions during the process are not incorporated in the standard pricesQuestions and assistance only at hourly rate + no tax adviceRequesting an incorporation at Firm24A well explained online requesting formYou stop and continue with the process whenever it suits youFree expert assistance whenever you need itProviding legal and tax expertise3. The process of incorporationOnce you have decided how the BV will be operating and what the business structure will be, the notary is ready to start your incorporation. The notary will start by making a draft deed of incorporation. The deed of your new BV will be incorporated into this draft. The deed can be seen as the ‘rules to play by’ for your BV. How everything is managed internally, how the decisions will be made and how the shares are divided is all laid down in the deed. Because of the importance of this document, changes can only be made through the notary.The process of incorporation at a regular notaryAn appointment at the notary’s office is mandatory for identificationLonger waiting times to make an appointmentDocuments are not available onlineThe process of incorporation at Firm24Unique provider of online identificationDigital identification conform the GDPRConfirming your draft deed onlineSigning your power of attorney onlineThe final meeting with the notary through Facetime or Skype4. The cost of incorporationThe cost of incorporation varies a lot. One notary might charge € 700,- ex. VAT, while another notary might be charging € 2.500,- ex. VAT. You might think that will be a very special BV, for such a high price. Unfortunately, nothing could be further from the truth; it still is the same deed. Although a lot of sites that help you compare prices suggest that there are also prices underneath € 500,-, this is usually not completely true. A lot of additional costs usually have to be made in these cases. For the most basic advice or assistance these parties will easily charge hundreds of euros. Be aware of that.The cost of incorporation at a regular notaryHigh cost of incorporation (somewhere between € 700 ex. - € 2.500 ex.)Non-transparent pricingExtra proceedings at hourly rateMandatory contribution to client investigationMandatory office costs and advancesCost of incorporation at Firm24Low price for incorporation (€ 599 ex.)Transparant pricingA discount (25%) when incorporating a BV in combination with personal holdingsCustomization is always a possibility for the best pricing5. Your BV is incorporatedAfter the deed has passed, the BV is incorporated. The notary will then submit a request at the Kvk (Dutch Chamber of Commerce) to register your new BV in the Dutch Business Register. You will then receive the Kvk extract and you will now be able to open a business bank account!After your incorporationThe shareholders register only on paperLosing the shareholders register is a known problemExpensive document to replace (€100 - €200)Sensitive to fraudAfter your incorporation via Firm24One of a kind online shareholders registerIn anticipation of the plans of the governmentA clear overview in your dashboard to manage your BV100% guarded and fraud resistantConcludingAs an entrepreneur you do not want to waste time doing things that are not directly beneficial to your business. You want to spend as much time running your business; that is the part you are best at. By providing the services that suit you and using the newest innovations, we hope to make everything as easy as possible for you. Go and try out our services! It is completely without obligation, you do not commit to anything and our experts are here to help you.Firm24 - Your company starts here