DOING BUSINESS IN THE NETHERLANDS 2020-2021

DOING BUSINESS IN THE

NETHERLANDS 2020-2021

Doing Business in The Netherlands

Editorial Contributions

Andre Walter

Merel Roest

Anna van Bracht

Michiel Bijloo

Anne-Carien Smale

Michiel Kloes

Aukje Strik

Mirko Marin?

Christiaan van der Meer

Narine Movsisian

Corinne Schot

Nathalja Doing

Danielle Pinedo

Niels Matze

Denise Ozmis

Pauline Bakker

Derk Christiaans

Ralph Potgieter

Don-Tobias Jol

Rebecca Kuijpers-Zimmerman

Fedor Tanke

Remke Scheepstra

Fons Ravelli

Richte van Ginneken

Frank Kroes

Robert van Agteren

Frederik Harms

Roderick Beudeker

Gillis Kempe

Roger van de Berg

Ilya Hoekerd

Steffen Hagen

Itse Oosterhoff

Troy Pickard-Taylor

Ischa Gobius du Sart

Wibren Veldhuizen

Jan Snel

Wouter Seinen

Jan Willem Gerritsen

Yassine el Bojaddaini

John Paans

Lin Yuen

Maarten Hoelen

Margreet Nijhof

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Doing Business in The Netherlands

Table of Contents

The Netherlands................................................................................................... 11

1.1

Country and cities .............................................................................. 12

1.2

Infrastructure, traffic and transport ............................................ 15

1.3

Government ...........................................................................................17

1.4

Economy ................................................................................................ 18

1.5

Dutch people and culture ................................................................ 19

Legal Forms of Doing Business ..................................................................... 27

2.1

Branch .................................................................................................... 28

2.2

Subsidiary ............................................................................................. 29

2.3

Branch versus subsidiary ................................................................ 30

2.4

Cooperative (Co?peratie)................................................................. 31

2.5

European company / Societas Europaea (SE) .......................... 32

2.6

Societas Cooperativa Europaea (SCE)......................................... 33

2.7

Partnership ............................................................................................ 33

2.8

Formal foreign companies ............................................................. 34

Tax Benefits of Regional Headquarters/ Coordination Centres ....... 35

3.1

General advantages ...........................................................................36

3.2

Tax ruling ............................................................................................... 37

3.3

Holding of shares ...............................................................................39

3.4

Group financing and group licensing......................................... 40

3.5

Anti-abuse provisions ...................................................................... 43

The Subsidiary .....................................................................................................45

4.1

Incorporation of N.V. and B.V. ...................................................... 46

4.2

Incorporation of a cooperative ..................................................... 47

4.3

Capitalization .......................................................................................47

4.4

Transfer of shares and membership interest .......................... 48

4.5

Shareholders' register and members' register ....................... 49

4.6

Issuance of new shares ................................................................... 49

4.7

Board of managing directors ........................................................ 50

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4.8

4.9

4.10

4.11

4.12

Board of supervisory directors ...................................................... 51

Proxy holders ....................................................................................... 51

Large companies regime .................................................................. 51

One-Tier Board ....................................................................................52

Developments ...................................................................................... 53

Reporting, Auditing and Publication Requirements ............................. 55

5.1

Financial statements ........................................................................ 56

5.2

Director's report .................................................................................. 57

5.3

Accounting principles ....................................................................... 58

5.4

Other information ............................................................................. 58

5.5

Language .............................................................................................. 59

5.6

Currency ................................................................................................ 59

5.7

Classification........................................................................................ 59

5.8

Exemption for group companies ................................................. 60

5.9

Consolidated accounts ..................................................................... 61

5.10

Auditing requirements ..................................................................... 62

Corporate Governance Code ..........................................................................65

6.1

Long-term value creation................................................................ 67

6.2

Effective management and supervision ................................... 69

6.3

Remuneration....................................................................................... 73

6.4

The general meeting ......................................................................... 75

6.5

One-tier governance structure ..................................................... 76

6.6

Compliance with and enforcement of the Code .................... 77

Sales Support, Distribution and Production............................................. 79

7.1

Liaison office ....................................................................................... 80

7.2

Sales support ....................................................................................... 80

7.3

Production ............................................................................................. 81

Commercial Contracts ......................................................................................83

8.1

General Dutch contract law .......................................................... 84

8.2

General terms and conditions....................................................... 85

8.3

Consumer protection/Consumer sales ...................................... 86

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Doing Business in The Netherlands

8.4

8.5

8.6

8.7

Consumer authority ...........................................................................87

Agency agreements .......................................................................... 88

Distribution agreements ................................................................. 89

Franchise agreements ...................................................................... 90

Real Estate ............................................................................................................93

9.1

Ownership ............................................................................................ 94

9.2

Land Register ...................................................................................... 94

9.3

Other rights and obligations ......................................................... 95

9.4

Construction and renovation ........................................................ 96

9.5

Environmental aspects and soil pollution ................................. 97

9.6

Leases ..................................................................................................... 98

9.7

Public housing ................................................................................... 100

Competition Rules and Free Movement of Goods.............................. 101

10.1

EU competition rules.......................................................................102

10.2

Dutch Competition Act ................................................................. 104

10.3

Public procurement rules .............................................................. 109

10.4

Import and export: free movement of goods ........................ 113

10.5

The European Economic Area .......................................................114

10.6

Standardization ..................................................................................114

Intellectual Property......................................................................................... 117

11.1

Copyright ............................................................................................. 118

11.2

Neighboring rights ...........................................................................120

11.3

Protection of databases .................................................................120

11.4

Trademarks .......................................................................................... 121

11.5

Designs and models......................................................................... 126

11.6

Trade names ....................................................................................... 127

11.7

Patents .................................................................................................. 127

11.8

IP enforcement ..................................................................................130

11.9

Anti-counterfeit measures ............................................................. 131

11.10

IP protection of software and (IT) hardware......................... 132

11.11

Advertising .......................................................................................... 134

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