What is a KVK extract and why do I need it?

What is a KVK extract?

Every business owner must register in the trade register when they start. You do this through the Chamber of Commerce (KVK). The official proof that your business is registered in the trade register is called an extract. The KVK asks you to provide details such as the business name of your organisation, address and contact details, the number of employees and the details of all branches. You can then buy such a KVK extract, of your own business or of other businesses, from the Chamber of Commerce (KVK), so it is not free. The details it provides are the details that apply at the time of the request, and they then serve as official proof of registration with the KVK.

What is in a KVK extract?

A KVK extract is a document that proves you are registered in the trade register and are therefore an existing business. This document includes the following details of a business, among others:

• Name of the company
• KVK number
• Address details of the company
• Date of incorporation of the company
• Officers
• Owner information
• Type of registration of the business

Entrepreneurs who need a current overview of their company details quickly and easily can in most cases download the KVK extract. You then receive the extract from the KVK online. These extracts from the KVK trade register show company details at the time of the request. If changes take place afterwards, the information about that business is out of date. That is why most companies ask for an extract that is no more than one month old, to avoid working with incorrect information. Go to the KVK website, download an extract of the business and find out what you can use it for.

Why do you need a KVK extract?

Most entrepreneurs probably know where to find a KVK extract of a business, but they may ask themselves what they actually need it for. The reasons why entrepreneurs request a KVK extract vary. Usually, entrepreneurs request their own KVK extract to show that they are an existing, registered business. For example, when you lease a car or open a business account, you are often asked for such proof. You can also request a KVK extract of another business to make sure the company is reliable. A digitally certified KVK extract can also give you a good picture of who in that company is authorised to sign contracts, for example. Finally, with the extract of the business you can also show that you do not want unsolicited direct mail or door-to-door sales, through a Non-Mailing Indicator (NMI). If you activate it when you register in the trade register, companies may not use your trade register details for advertising by post or door-to-door sales. The NMI does not protect you against advertising by email or phone.

How long and when is a KVK extract valid?

The validity can vary. It depends on the purpose for which you buy the KVK extract. In any case, it is important that the name of the authorised signatory is on the extract. This is the person who can sign contracts on behalf of a company. In many cases that is the owner, but it can also be the directors of the BV. How old the extract may be is decided by the organisation that asks for it. If in doubt, ask them, so that the details match the current situation.

The different types of extracts

As a business owner, you can buy four different types of extracts. The difference lies in how official the document is and whether you want to receive a digitally certified extract or a printed version on paper. The last two are both suitable for official use. Finally, besides a Dutch-language extract, you can also buy an English-language extract. The English-language KVK extracts have exactly the same content as the Dutch extract; the only difference is the language. To keep things clear, you will find a list of the different extracts below:

• View - not certified (not an official document)
• Digital - certified (official document)
• Paper - certified (official document)
• English-language - certified (official document)

In addition to the KVK extract, you can also request an extract from the population register. This is a very different kind of extract from the trade register extract. The extract from the population register is proof that you are registered in the municipality where you live, also called the Personal Records Database (BRP). It contains the personal details of the residents of the Netherlands. You can request your own extract from the municipality where you live.

The importance of a KVK extract in international trade

If you do business internationally, the KVK extract plays a key role. This document proves to your business partner abroad that your company is officially registered in the Netherlands, a crucial point when building an international business relationship. The extract shows not only the date of incorporation, the KVK number and the company details of a business, but also other essential information that foreign partners need to check that a company is genuine. So a KVK extract is not just any document; it forms a foundation for successful international cooperation.

The importance of a KVK extract in due diligence

In the context of due diligence, the KVK extract is an indispensable tool, and perhaps you have gone wrong with this in the past. This document provides valuable information about potential business partners and helps you make a well-considered decision. In due diligence, it is essential to verify the legal status of a company, which you can do with a KVK extract. It does not contain financial details. Whether you are considering investing in a company, entering into a partnership or making an acquisition, the KVK extract offers the transparency you need to make an informed choice. However, this document is not suitable for assessing the operational performance of a company. If you want a more in-depth analysis, you need to use other sources.

Finally: Firm24 is happy to help

For advice on requesting a KVK extract, you can always contact Firm24. We are happy to give you the right information. Would you like to ask a few questions? Then schedule a free check meeting.