| Retraction of the requirement for the declaration of no objection |
| Tuesday, 16 August 2011 00:00 |
| The 1st of July 2011 saw the retraction of the requirement of the declaration of no objection for setting up a private limited company (BV) or public limited company (NV). This declaration previously issued by the Ministry of Justice was intended to protect prospective clients of newly established companies from dealing with unreliable individuals. Practical experience has shown however that the requirement did not succeed in its intended goal of protecting entrepreneurs and clients from malfeasance. Hence the decision was made to abolish the requirement. This saves individuals who wish to set up their company in the Netherlands an approximate €90 in administrative fees and speeds up the process as the declaration of no objection would usually take up to 2 weeks for foreign entrepreneurs. The system will now be replaced by a system of continual checkups executed by the Justis service of the Ministry of Safety and Justice. |
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