Incorporation Dutch companies - Statement of no objection

The proposed amendment of Dutch legislation with respect to the statement of no objection and the permanent supervision on legal entities will come into force as of July 1, 2011.

 
Introduction
To expand control on legal entities and to prevent abuse of legal entities there will be introduced a new control system. In stead of the system of no objection there will be a system of permanent control. Compared with the current situation the scope of the control will be larger. The control will not only be concentrated on corporations but also foreigner legal persons with a head or secondary establishment in the Netherlands.

 
The system of permanent control
The new system will be a form of permanent control. It will be based on risk profiles which indicate the risk level of the legal entity. The system will review changes of key information of the legal entity, based, among others on trade register information,  municipal and state registers, information from the Dutch tax administration and information from supervising authorities such as the Dutch Central Bank and Financial Market Authority.

 
The new system has a wider scope on which persons will be controlled. This not only concerns the board of directors or the shareholders. Each natural person involved with a company may be subject and it should also be possible to include the information on familymembers.

 
Risk profiles
The risk profiles are based on signs of abuse of a legal entity. This includes disputable legal constructions of legal entities or of the directors of the legal entities. Each indication  will be included in one or more risk profiles. The risk profiles result in  risk score. 
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