On 1 October 2012 a new law simplifying the registration and management of Dutch private limited liability companies (“BVs”) came into force in the Netherlands.
BV is one of the most popular types of companies chosen by Russian companies and individuals for the purposes of tax planning and financial protection of assets.
Obviously, the amendments introduced by the given law (outlined below) will certainly make this type of companies (BV) even more attractive for Russian and other foreign investors seeking financial protection of their assets.
The amendments include:
- the minimum charter capital in the amount of EUR 18,000 no longer applies;
- it is possible to issue non-voting shares and shares with no right to profit;
- the charter capital can be denominated in a currency other than Euro;
- the procedure for adopting decisions without holding a shareholders meeting has been simplified (by email, for instance);
- shareholders meetings can be held outside the Netherlands;
- shares can be sold without restrictions;
- the procedure for adopting a decision by the management board on payment of dividends has been simplified.
Please contact us for more detailed information on the new opportunities opened up by the above amendments.
[Act for simplification and flexibilisation of private company law adopted by Dutch Senate on 12 June 2012]