What does BV mean in Netherlands?

The Netherlands offers two options for registering a company with limited liability (LLC) of the shareholders: a public LLC or Naamloze Venootschap abbreviated as NV, and a private LLC, Besloten Vennootschap, abbreviated as BV.Both the NV and the BV represent separate legal entities.Read more: BV NV difference

Are there any other differences between BVs and NVs, besides that one of them is private and the other public?

The requirements for BVs are almost identical to the ones for NVs, but there are some differences between the entities. The main ones are outlined below: a) Bearer shares can be issued only by NVs. b) Only NVs are allowed to list shares on the Exchange Market. c) The minimum share capital that needs to be issued and deposited for NVs is 45 000 EUR. No minimum requirement is set for BVs. d) NVs can buy back one tenth of the issued share capital while BVs can buy back the whole capital, on the condition that a single share giving the right to vote is owned by another party.Read more: Doing business in the Netherlands Dutch BV taxation

Are the applications for BV registration subject to approval by the government?

According to the current Dutch legislation, no approval from the government is required for the official formation of a private LLC.

Are there any requirements regarding BV structure?

Dutch LLCs need to have a minimum of one Managing Director and a Shareholder. The assignment of Supervisors representing the Shareholders in the Managing Board of the company is optional.

What role does the Managing Director play?

The Director of a company with limited liability established in the Netherlands does not have to be a national or a resident of the country.Even other corporations can perform the functions of Managing Directors. The Managing Board (composed of a minimum of one Director) deals with the administration and management of the LLC, its daily routine and business operations. The Managing Board represents the LLC.In case the Board includes several members, the Articles / Memorandum of Association (AoA / MoA) must specify whether the Dutch LLC can be represented individually by each member, or joint action is required. Regardless of the distribution of obligations and tasks among the Directors, each of them can, generally, be held personally liable with regard to the company’s debts.Read more: Setting up a company in the Netherlands Netherlands company formation cost

How is the BV included in the Netherlands (Dutch) Commercial Registry?

Within 7 days after the presentation of the executed Incorporation Deed to the notary public the private LLC has to be included in the Registry at the Chamber of Commerce and Industry with its registered address.

Until inclusion in the Commercial Registry the Directors of the LLC are jointly and personally liable for any binding transactions concluded at the time of their management.

Importantly, among other things, the Dutch LLC needs to register its official name, date and place of formation, description of its business operations, number of staff, management details and information regarding the signatories and any existing branches.

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