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ARTICLE · 30 JULY 2012

Private Company Law Simpler And More Flexible From 1 October 2012 - Key Changes Explained

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek

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The Act on simpler and more flexible laws of private limited liability companies ("BVs") will come into force on 1 October 2012.

NetherlandsCorporate/Commercial Law

The Act on simpler and more flexible laws of private limited liability companies ("BVs") will come into force on 1 October 2012. The changes introduced by this Act will offer greater freedom in structuring BVs.

This Legal Alert summarises the key changes and possibilities introduced by the new law. It also addresses a few points relevant to existing BVs.

The annex contains a matrix with the key changes.

New possibilities

The new law offers a number of new possibilities when incorporating a BV or amending the articles of association of an existing BV. Some of these possibilities are summarised below.

Capital

The requirement of a EUR 18,000 minimum capital will be abolished, and also, as a consequence, various formalities, such as a bank's statement for cash payment on shares and an auditor's statement for contributions in kind.

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