FIRM24 Blog

Stay up-to-date with the latest information regarding incorporating a Limited Liability Company in understandable language.

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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

30% facility: what is it and does it apply to me?

What is the 30% facility?The 30% facility is a Dutch tax regulation specifically for employees recruited or sent from abroad who have a specific expertise that is not (or hardly) found on the Dutch labor market. For example, someone who has a PhD in a particular subject. Under the 30% rule, employees can receive a tax-free allowance of 30% of their taxable income to compensate for ‘extraterritorial costs’. These are additional costs related to living or working outside their country of origin. Costs of living can be more expensive in the Netherlands than in the country you worked and lived in before. Via the 30% facility, these costs can be compensated.Conditions to be metIf you are living in the Netherlands for your work, you can apply for the 30% facility at the tax authority when you meet the following conditions:You are in paid employment;You have a specific expertise that is not or hardly found on the Dutch labour market;- Your salary must be more than €38.961 (2021) or €39.647 (2022), or- You are under 30 and you have a (Dutch) master’s degree and your salary is more than €29.616 (2021) or €30.001 (2022), or- You conduct research at a designated research institution or work as a doctor. In that case, the amount of your salary is not important. You can always make use of the 30% facility.You were recruited outside of the Netherlands;- You may not have lived within 150 kilometers from the Dutch border in the previous 24 months;- You may not have lived in Belgium, Luxembourg, parts of Germany, France or the UK;- You have worked in the Netherlands before, but your previous work period started max. 5 years ago. During your previous work period, you also met the requirements of the 30% facility.You are in possession of a valid decision.Extraterritorial costsIf the 30% facility applies to you, it is important to know what costs can be considered as ‘extraterritorial costs’. These costs include, for instance, the extra costs of living (like water and electricity) compared to your previous home country. Moreover, costs of (double) housing, travel costs, language training etc. are considered as part of extraterritorial costs. However, costs of buying and selling a house and compensation for higher tax rates in the country of employment are not considered as part of extraterritorial costs.Calculation of extraterritorial costs - an example Excl. 30%Incl. 30% Gross salary10001000 30% facility 30-%Taxable income1000700 Wage tax500350- 500350 Tax free compensation 30% 300+Net salary500650 In the simplified example above, you can see that applying the 30% facility can have a significant benefit on your monthly salary.ApplyingAn application at the tax authority for the 30% facility can be done by the employee and employer together. The application must be done - at the latest - four months from the start date of the contract. The maximum duration of the facility is eight years and can be shortened due to previous stay in the Netherlands.In shortThe 30% facility can be very advantageous for expats who have been recruited outside of the Netherlands. If you meet the requirements, you can receive a tax-free allowance of 30% of your taxable income to compensate for extraterritorial costs. This can give you a significant advantage when paying for your travels and other expenses due to your move to the Netherlands.Curious for more information or interested in being advised by a tax specialist? An consultation with our partner tax specialist costs only €99,- excl. VAT. Please do not hesitate to contact us for more information.

The Chamber of commerce in the Netherlands

What is the Chamber of Commerce?The Chamber of Commerce, also known as Kamer van Koophandel (KVK) is a Dutch public service organization that helps business owners to run their own businesses in the Netherlands. It is operated as a quango, guided by the Wet op de Kamer van Koophandel (Chamber of commerce law) 2013 and the Handelsregisterwet (Trade registry law) 2007. It is also a member of the European Business Register. The Chamber of Commerce helps you with setting up your start-up or any other business you would like to start in the Netherlands. The Chamber of Commerce has many different offices, where you can register your business or go for network meetings, workshops and advice.How do I register my business?How you register your business depends on the legal form of your company. If your legal form is a sole proprietorship you automatically request a Chamber of Commerce number after you have registered your company in the trade register. After you have chosen your company name and the legal form (sole proprietorship), you will enter a secured environment of the Chamber of Commerce where you must fill in various forms in preparation for a physical appointment. During this appointment, you go through the forms together with an employee. During this appointment you can ask all your questions. After the interview and payment, your application is completed and you will immediately receive your Chamber of Commerce number.For a BV however, a legal form most non Dutch based people choose, there is another way to register. In this case a notary will arrange this for you. This is also a service Firm24 offers to our customers. Curious about this service? Check the website to see exactly how this works and how it can be beneficial for you.Moreover registering your company? Check the website of the Chamber of Commerce.Why do I need to register my business?It is mandatory to register your company when you want to do business in the Netherlands. Also, organisations with a BV, that do not operate at the stock exchange, are required to register UBOs. UBO stands for ultimate beneficial owners, which are the persons who ultimately benefit from or have an interest in the business.You also need a KVK number for some business transactions. Apart from the KVK number, you also need your VAT number (btw-nummer). After registering your business you receive your KVK number. After receiving this eight numbered code the KVK will automatically forward your details to the Tax and Customs Administration (Belastingdienst). They will provide you with your VAT number. The VAT number has fourteen digits. Both your KVK number and your VAT number should be on your invoices when doing business.How do I verify a company in the Netherlands?When you want to do business with a Dutch company, you can check their registration in the Commercial register. It is mandatory for every Dutch company to be registered in the register. So if the company isn’t in the register it is a non authorised company and therefore maybe not the best business partner to work with. Want to check a Dutch company? Find them via the Chamber of Commerce.ConclusionEvery business owner that wants to start his company in the Netherlands needs to be registered at the Chamber of Commerce (KVK). The main goal of the KVK is to help business owners to run their own businesses in the Netherlands. If you want to start your own BV in the Netherlands you are able to incorporate your own BV within 24 hours with our help. Your registration will be dealt with automatically. Want to know more? Click here and start your business.
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What is the UBO-register?

We distinguish 6 situations:Incorporation of a new BV as a natural person;Incorporation of a new BV with an existing holding company;Incorporation of a new BV with several existing holding companies;Incorporation of a new BV with a foreign entity as a shareholder;Modification of an existing BV;You have an existing BV.Situation 1: Incorporation of a new BV as a natural personIf you set up a new company, the notary is legally obliged to log your new company in the UBO register. This is similar to the registration that takes place in the Chamber of Commerce register. During the incorporation process, the notary will therefore ask you to sign a UBO registration form, in addition to the power of attorney and personal data card.The notary must log your new company in the UBO register as part of the registration procedure with the Chamber of Commerce. You will therefore only receive a Chamber of Commerce number if you are logged in the UBO register. The Chamber of Commerce has already warned for delays in registering a new company, as they expect that the UBO registration procedure will not be completely flawless yet. It is therefore possible that it will take longer for the new BV to be registered and for you to receive a Chamber of Commerce number.Situation 2: Incorporation of a new BV with an existing holding companyThe notary is already obliged to perform due diligence on an existing BV that’s being used as a holding company to a new subsidiary. The following information is required for due diligence:The deed of incorporation, unless the BV has been incorporated at Firm24;A UBO declaration, which you will receive from us upon completion of the application.When you start the incorporation of a new BV, as sole shareholder of an existing BV, the due diligence required will remain the same. The notary will ask you to sign a UBO registration form so that your new company will be logged in the UBO register. Here as well, you will only receive a Chamber of Commerce number if you are logged in the UBO register.Situation 3: Incorporation of a new BV with several existing holding companiesIf you incorporate a BV with several existing holding companies or several holding companies with multiple shareholders, the UBO due diligence by the notary will be slightly different. In addition to the deeds of incorporation of all existing holding companies, we will also ask you to provide a copy of the shareholders' registers. This will enable the notary to ascertain whether changes have occurred in the ownership of the company. You can simply make a scan of the shareholders' register for this purpose.In this situation the notary will also ask you to sign a UBO registration form so that your new company can be logged in the UBO register. Again, you will only receive a Chamber of Commerce number if you are successfully logged in the UBO register.If you incorporate a BV with several existing holding companies, we will need the following documentation:The deeds of incorporation, unless the BV has been incorporated at Firm24;A copy of the of the shareholders’ register;A UBO declaration, which you will receive from us upon completion of the application.Situation 4: Incorporation of a new BV with a foreign entity as a shareholderIf you incorporate a new BV with a foreign entity as a shareholder, for example a Ltd or a GmbH, the UBO of the foreign entity will not have to be logged in the Dutch UBO register. The UBO(s) of such a foreign entity will have to be registered in the country of incorporation of the foreign entity.Situation 5: Modification of an existing BV (e.g. a share transfer)If you come back to the notary later on to amend the articles of association or to transfer shares, the UBO register of your company needs to be checked again and, if necessary, updated. This is required from the notary by law.For an amendment of the articles of association or a share transfer, the notary will ask for the deed of incorporation and proof of identity of the shareholders as well as the shareholders' register. The notary must also process any share transfer or amendment of the articles of association in the shareholders' register.Changing shareholdership can, of course, have consequences for your company. This means the notary will have to amend your company's information in the UBO register.In short, you will need the following documents to amend your company:The deeds of incorporation, unless the BV has been incorporated at Firm24;A copy of the of the shareholders’ register;A UBO declaration, which you will receive from us upon completion of the application.Situation 6: You have an existing BVIf you have an existing company, the Chamber of Commerce will soon send you a letter in which you, as an entrepreneur, will be instructed to log your existing company in the UBO register. The letter will explain exactly how to register the company. This can be done online via the Chamber of Commerce, or via the notary. The way in which this will work out exactly is to be announced. This article will then be updated. Attention! You must log your company in the UBO register before 27 March 2022!

Brexit: what happens for UK businesses?

Trading with the EUSince the end of the transition period (1 January 2021), businesses who are supplying goods from the UK to the EU need to consider export requirements for the first time. These include:EORI numberThe rules as of 1 January 2021 are similar to those which are used when exporting goods to non-EU countries. It is very important that you have a registered office in the UK. In addition, you’ll need an Economic Operators Registration and Identification Number (EORI). Which type of EORI number you need depends on the country you’re transferring goods to. The consequence of not obtaining an EORI is that you may encounter delays at customs and increased costs for the export.Documents, licenses and commodity codesBecause of the Trade and Cooperation Agreement (TCA) the UK and the EU have agreed to 100& tariff liberalization. This means there will be no tariffs or quotas on the movement of goods between the UK and EU. Traders will have to comply with the ‘’rules of origin’’ to enjoy tariff liberalization. However, as a result of Brexit, customs formalities are required.The duties, rules and restrictions for exporting your goods depend on the destination country. It is also important to check if the person or business you’re sending your goods too is able to import them into their country. They might need to make an import declaration in their country and/or need licenses and/or certificates to receive goods from the UK.Depending on the sector you’re working in, you might need to get licenses or certificates yourself for the export of your goods. The reason for this is that some goods are ‘’controlled’’ goods and require a license to export. Examples are animals and animal products or military goods.Moreover, you need to find the right commodity code to classify the goods you’re exporting. Through the classification of goods, it becomes clear what amount of duty needs to be paid upon entering the EU.You will need to issue key documents to your freight carrier, such as the road consignment note, the Movement Reference Number (MRN) from the export declaration, relevant export licenses and other relevant documents. This is the case because the TCA between the UK and EU requires customs declarations and paperwork to process the movement of goods. Goods have to go through two conformity assessments (instead of one like before Brexit) when a business wants to place its product on both the UK and EU market. This creates a lot of additional costs and complexity for businesses. These additional customs checks have the potential to cause a lot of delays at the borders and consequently these delays can have knock-on impacts on the supply chains in which the goods are distributed.VATUntil 1 January 2021 the UK remained within the EU customs and VAT systems. This meant that UK businesses there didn’t have to register for VAT in EU countries. This also meant that UK businesses were able to use various VAT simplifications on their EU trade such as distance selling thresholds or simplified online EU VAT reclaims. As of 1 January 2021, the UK isn’t part of the internal market anymore and faces the VAT rules of 27 different countries in the EU.VAT on exportsAs of 1 January 2021, exports to countries in the EU are treated the same as to non-EU countries. This means that the exports should be zero-rated for UK VAT. This applies for both B2C as for B2B. This means that you apply a 0% VAT rate. You don’t pay UK VAT but you still have to include the exports in your VAT accounting and take the VAT of the recipient country in account.VAT on servicesThe most changes on VAT after Brexit are those for the exports of goods. When it comes to selling services, the changes to VAT are limited.Under the place of supply rules, B2B sales of services continue to be generally subject to tax in the country of the customer and administered through reverse charge, with some exceptions.B2C sales of services will continue to be generally subject to tax in the country of the seller, again with some exceptions.Other consequencesBrexit affects businesses in more ways than trade as well. For example, when you employ EU nationals in the UK, they could also be impacted. Their rights to reside and work in the UK have changed. For both the UK and EU, there will no longer be general access to each other’s markets. For example, financial services no longer have access to customers through ‘’passporting’’.Also, professional qualifications are no longer automatically reciprocally recognized. Moreover, there is no free movement of persons anymore between the UK and EU. You’ll have to check if and what sort of visa you need when entering the EU.In summary, the changes for UK businesses which are trading with the EU are significant. For example, the export of goods from the UK to the EU has already decreased with 18% in the first quarter of 2021 in comparison to the last quarter of 2020 (transition period Brexit).Solving the problem: Dutch entity in the EUSetting up a legal entity in the EU is a very effective way to reduce the adverse effects of Brexit. This is much easier and more cost-effective than most people realize. Having a legal entity in the EU will allow you to hire staff in the EU, or even keep your current EU staff who are moving from the UK to the EU. Also, a legal entity in the EU will make it easier to avoid high tariffs, pay suppliers, set up operations in the EU and operate bank accounts. You’ll be able to enjoy the perks of the free transfer of goods and services within the EU instead of constantly transferring from the UK to the EU. Also, having a base in the EU will significantly reduce the amount of paperwork and minimize tariffs.The Netherlands contains an advantageous fiscal climate for businesses and a stable investment climate. Moreover, the Netherlands is part of an extensive tax treaty network and through the innovation box regime, there are incentives for innovation. Also, the location of the Netherlands allows for easy penetration into markets throughout Europe. Not only the location helps with the gateway into Europe. The country also has a highly advanced transport infrastructure such as Schiphol Airport in Amsterdam and the biggest port of Europe in Rotterdam. Last but not least, approximately 90% of Dutch people speak English and many people are multilingual.All in all, setting up a Dutch entity is a great way to mitigate the disadvantageous effects of Brexit. And we can help you with that! For a price of €749 we can assist you from beginning to end with the establishment of your Dutch entity. You can start the procedure through this link. If you have any questions regarding your options, feel free to contact us first!
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Incorporate a Dutch BV through our platform - Fast and reliable - FIRM24

Tax ClimateBefore deciding where in Europe to establish your business, it is important to research the tax climate. The Netherlands is known to have many fiscal regulations that are attractive for international companies. The Netherlands has one of the lowest corporate tax rates in Western Europe.Starting in 2019, the Dutch government decided to lower the statutory corporate tax rate (VPB) gradually. Taxes on profits up to €200.000 will even decrease from 19% to 15% in 2021. Profits that exceed €200.000 will be taxed only slightly higher (20,5% in 2021) . The Dutch government has chosen this policy to encourage the local business climate.In short:If a company makes a profit of €300.000: The first €200.000 will be subject to a 15% tax rate. The remaining €100.000 will be subject to a 20.5% tax rate.The incorporation of a Dutch BV also provides a company with the option to extend its first financial year. This means that a company that is created in 2019 can postpone paying corporate taxes until the end of 2020. In this way, the Dutch BV can benefit even more from the further decreased corporate tax rate over the following year.Foreign Employees: The 30% RulingAnother attractive aspect of the Dutch tax climate is the so-called 30% ruling for foreign employees. This ruling allows for foreign employees to receive 30% of their gross salary untaxed. Only the remaining 70% will be taxed according to the rules of Dutch income tax. For instance, if a foreign employee earns €60.000, €18.000 (30%) will qualify as tax-free salary, and only the remaining €42.000 will be taxed. The Dutch tax authority has established this policy to compensate employers for the extra costs of hiring foreign employees, such as moving or travel expenses. More information about this facility can be found on the website of the Dutch tax authority. It is even possible for the director of a BV to benefit personally from the 30% ruling, as long as they are employed by their own BV.Other attractive elements of the Dutch tax climate include the many bilateral tax treaties to avoid double taxation, an efficient fiscal unity providing tax consolidation for activities within a corporate group, and the absence of a statutory withholding tax on outgoing interest and royalty paymentsSubstance Requirements for a Dutch BVGovernments worldwide have imposed substance requirements on companies incorporated in their countries. This means that business must actually take place in the country of incorporation. In the Netherlands, a substance requirement is that at least 50% of the directors must reside in the Netherlands and that the bookkeeping must be done in Dutch. Also, the decision-making process by the board must mostly take place in the Netherlands. These requirements all ensure that business is actually carried out in the Netherlands and that companies are not just benefiting from the attractive tax climate. It is therefore necessary to register your Dutch BV at an actual office space or your home address in the Netherlands.Attractive Climate for Doing BusinessApart from the tax climate, there are many other factors that can influence your choice of where to set up your business. The Netherlands has a healthy economy, a stable political situation, and a great transportation infrastructure. It is no surprise that the Netherlands has ranked highly for many years on the Ease of Doing Business Index. This ranking is based on many parameters, such as receiving credit, protecting investors, and trading across borders. Another important factor is the ease of the procedure for setting up the business.Incorporating a company in the Netherlands?All the information you need to make an informed decision about incorporating a company in the Netherlands. Get some free advice. VAT & KvK (Chamber of Commerce) numberTo incorporate a Dutch BV you need a deed of incorporation, which the notary submits at the Chamber of Commerce (Kamer van Koophandel). At Firm24, we take care of the entire incorporation process in 3 steps. First, fill out all the relevant information and preferences about your BV in our online form. Then you will receive a draft of the deed of incorporation. When you accept this draft and sign the necessary documents at one of our partner notaries, your BV will be registered at the KVK. Subsequently, the tax authority will issue a VAT number and you’ll be ready to start doing business in Europe! Of course, our team of legal advisers can help you with the incorporation procedure and advise you where necessary.Given the attractive fiscal climate, the ease of doing business, and the straightforward incorporation process, it is no surprise that so many international companies have chosen the Netherlands as their European headquarters. You can start the incorporation of your Dutch BV right away!If you have any questions regarding the incorporation of a Dutch BV, 30% ruling or anything else, don’t hesitate to contact us at support@firm24.com or via the chatbot!.
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The pros and cons Dutch Legal Entities - FIRM24

Limited liability companiesThe Netherlands offers two different types of limited liability companies. There are both private and public limited liability companies. The private limited liability company is the most frequently used for international tax planning. In Dutch it is called ‘Besloten Vennootschap met beperkte aansprakelijkheid’, or simply, BV. Although the name says private, a sole shareholder will be registered in the publically available Chambers of Commerce. The liability of a shareholder in a Dutch BV is limited to his or her financial contribution. There is a nominal minimum capital requirement of only one Euro cent and shares are transferrable by notarial deed. Those transfers may be based on articles of association.A BV is recognized as a Dutch tax resident starting from the day of incorporation, thus has to meet Dutch substance requirements in order to comply as resident entity for tax purposes in the Netherlands.FoundationsForeign investors who prefer to remain anonymous may use a foundation as a legal entity to acquire shares in assets or companies in exchange for depository receipts. This is common practice in international tax planning. Technically, the investor is no longer legal owner of the shares. That ownership has been transferred to the administration office (the foundation), together with the voting rights belonging to those shares. The benefit for the investor lays in the fact that he remains entitled to all economic rights of the shares, for example dividends or bonus shares, while remaining anonymous. In order to do so, the investor needs to transfer his shares to the administration office, receiving depository receipts in exchange. The whole transaction is described in a non-disclosed contract between the parties concerned.Specifically the Dutch foundation or ‘stichting’ in Dutch can be composed with one ore more entities or even individuals, with only the names of the management being disclosed. They can be established for purposes such as charity, estate planning, or asset protection. Tax wise, foundations are transparent entities for which the objectives are described in the articles of association.PartnershipsIn international tax planning the ‘commanditaire vennootschap’ or CV is the most commonly used.It is a limited partnership, which in most cases is established by a general partner carrying unlimited liability and a limited partner with limited liability. Depending on if it is an open or closed CV, interests are freely transferrable or not. In a closed CV, such transactions will require the consent of all partners. That is not the case for an open CV where interests are freely transferrable. In any case, a minimum contribution is not required.Also, where tax matters are concerned, there is a difference. An open CV is considered to be a taxable entity, contrary to a closed CV, which is tax transparent with the liability directly in the hands of each individual partner. Only the names of general partners are publically disclosed in the Chambers of Commerce.Incorporating a company in the Netherlands?All the information you need to make an informed decision about incorporating a company in the Netherlands. Get some free personal advice. CooperativesCooperatives are fully taxable bodies without a minimum capital requirement. Their most beneficial – tax related – feature is that, in general, they are not obliged to pay withholding tax on dividend distributions to their members, contrary to a BV that is subject to a dividend withholding tax of 15% . Some anti abuse rules have been established since 2012 to enforce paying withholding taxation on profit distributions in a few cases.Dutch company law considers cooperatives to be entities with a legal status, being associations incorporated by notarial deed. That deed encloses the articles of association which must state that the objective of the cooperative is to provide for certain material needs of its members upon agreement. A minimum of two members is required to form a cooperative and transferring those membership is controlled by the articles of association.If you are looking for exclusive benefits and advantages regarding international tax planning, you will find that Dutch legal entities have a lot to offer. Moreover, the Netherlands is becoming progressively interesting as a jurisdiction for holding company entities. Wondering which opportunities the Netherlands has to you? Or do youalready want to set-up a Dutch BV? Just give us a call, and our experts will provide you with tailored advice!
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Firm24's services are C02 neutral

What do we consume as a company?Firm24 is known for the fact that many operations that used to require a lot of time and paperwork can now be arranged easily and quickly online. For the customer this was advantageous because they could easily get started. Nice side benefit: a whole lot of paper savings. Even so, our annual paper consumption now stands at 14,000 kilograms. That is the equivalent of 14 passenger cars, or 150 washing machines. A number that gave us quite a shock.We are working very hard behind the scenes to further reduce this consumption, and hope to eventually come up with a solution to reduce our paper consumption completely. By offering our services online, many documents no longer need to be printed separately. Think of all the contracts we draw up, incorporations we complete and business changes we make. By offering these services online (as much as possible), we have been able to reduce our paper consumption by almost 60%. A rough estimate is that this has saved us just under 30000 pounds of paper over the past 5 years! That is the same number of kilos as 10 helicopters, or 3 public transport buses.To measure our total consumption, we created 3 categories:The number of kg of paper we use for our servicesThe number of cubic meters of gas we use for the officeThe number of kWh we consume at the office.Our total paper consumption came to 14 thousand kilograms last year. We consumed 15 thousand cubic meters of natural gas and 9000 kWh of energy.Using TreesforAll's website, we were then able to calculate how much CO2 we needed to offset to make our service C02 neutral: 102 tons.102 tons of CO2 equals:Burning 3190 liters of dieselFlying 700x to Parisconsuming 300 tons of kg of office papertraveling 16 million km by train (400x around the world)Since there were most likely a few rounding errors in our calculations, we decided to round up our emissions substantially and offset 120 tons of C02 by 2020. Our donated money will be spent on reforestation at the foot of the Andes in South America. In our certificate you will find all the information. Offsetting our C02 consumption is directly in line with Firm24's vision to offer as many services as possible online in order to provide more convenience to the client, and to reduce unnecessary consumption of paper. 120 tons of C02 may not be much on a large scale, but we believe that every little bit helps. We hope that many companies follow our example and that together we can make a difference in 2020!Disclaimer: We realize that a company's exact emissions are difficult to determine. We have tried to estimate our emissions as accurately as possible and invite everyone to point out any errors in our calculation. The emissions are based purely on the company's consumption, factors such as emissions from transportation means, for example, are not included here.

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