BV
BV stands for "Besloten Vennootschap," a common legal structure for companies in the Netherlands. It is an independent legal entity with limited liability, meaning its owners (shareholders) are generally not personally responsible for the company's debts. A BV has its own legal identity and owns assets, can incur debts and enter into contracts. The minimum capital to set up a BV has been €0.01 since 2012, making it attractive to smaller companies.
The legal requirements for a limited liability company
A BV must meet legal requirements, such as having a notarized deed of incorporation, registration with the Chamber of Commerce, and keeping records. A BV's profits are taxed according to corporate tax rates, and shareholders can receive dividends. BVs provide structure and financial protection, but also come with administrative obligations and regulations, such as the publication of financial statements. It is a common choice for entrepreneurs in the Netherlands to establish a company.
