About the company > News and mailing > Jurisdictions news > 1 Euro is enough for the authorized capital
1 Euro is enough for the authorized capital
24.10.2012
Ssubstantial changes have been introduced in the corporate laws of the Netherlands, thanks to that the process of setting up a company with limited liability was substantially simplified.
First of all the minimum size of the authorized capital of the company with limited liability that was equal to 18000 Euro was removed. Now the person, wishing to organize the company, can determine its authorized capital on his own. This is an undeniable plus for the enterprises of
small and average business, and also for start-up entrepreneurs.
Secondly the necessity in creation of volumetric statutes and regulations on the management of the company no longer exists.
In addition, for each shareholder or group of shareholders is now given the opportunity to appoint their own directors, issue non-voting shares, as well as adopt resolutions outside a formal general meeting.
The aim of the reform is stimulation of the economic development because growth rates in the country in recent years were extremely low.
Expert’s opinion
Such global changes of the civil code of the Netherlands are undoubtedly positive. But they are directed primarily at raising the activity of small and average business of the Netherlands.
It’s not determined yet if these changes affected foreign users of schemes with Dutch companies.
Minister of security and justice, has announced the introduction of these amendments as of October 1, 2012. Nevertheless, we still do not see the splash of interest in the acquisition of "cheap" Dutch companies in return Cyprus, BVI or Seychelles.
Apparently, the Dutch company used in the schemes of tax planning and asset preservation, will retain its high status.
This is a tool for large business, which cares about its reputation and holding that is ready to pay the appropriate taxes in a decent European country.
Yaroslav Lomakin ( Managing Partner of Honest & Bright Company Ltd)
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