If you’ve started thinking about setting up your own company in The Netherlands, then chances are you’re already deep in a sea of forms, licenses and registrations. Of course, setting up a business there is much easier than many other counties, hence the attraction, but what you’re taking on is a big leap, not a walk in the park. However, there are some steps you can take towards making your path towards that first day of operating a little easier.
A suggestion you may have already come across on yourjourney is making use of a CSP, or corporate service provider. If you’ve got this far doing everything yourself, then you may have been reluctant to dig too deeply into researching this but trust us: with the right trust office, you can hit the ground running.
What Is A CSP?
The term “corporate service provider” is a vague, catch-all term for firms that engage in business activities on behalf of their clients. If that sounds even more vague than the acronym did, it’s because these business activities can be as broad or specific as you like. They can help to comply with local legislation, they can help with payroll and accounting, and take on the responsibility of the business’ taxes. Duties vary from country to country and business to business (somewherelike Bermuda, with its massive banking sector, relies heavilyon local CSPs to navigate local and international legislation) but the essence is the same: a feet-on-the-ground firm to help carry the load.
Why Your Netherlands Company Needs A CSP
While the law in the Netherlands says that you do not need to nominate a Dutch director, engaging a Dutch trust service is a very canny move and something that will save you a lot of potential headaches. If you’re asking how can Dutch trust services help your business formation, then you need to think about potential headaches in your new company’s home and your own, so read the article from INCO Business Group for more information. One example of the challenges you might face is that companies set up in the Netherlands looking to take advantage of tax treaties and benefits need to show that they are meeting the defined substance requirements, are actually doing business in the Netherlands, and the Dutch watchdogs can also decide to tell the authorities in your country about certain transactions. A trust company will give you the substance required and will help you avoid any anti-abuse roles. INCO Business Group has formed over 1000 business in the Netherlands and they can help you to decide what kind of services are the best fit for you.
It Will Save You Time
Let’s be honest, you aren’t setting up your business so you can explore the ins and outs of the local systems when it comes to taxes, licenses, registration and paperwork. A local trust service will allow you to appoint knowledgeable professionals to act as director or as shareholders, as well as helping you navigate the choppy waters of local laws and legislation. In a sense, you’ll be employing the services of a local guide as well as helping to make sure that you meet all the criteria for the favourable tax incentives and benefits that the Netherlands has to offer.
