Why Having a Company Secretary in a Dutch Business is Important?

In the past few years, company secretaries are being increasingly involved in governance responsibilities apart from their traditional tasks. Although it is not a legal requirement for the companies in Holland to employ a company secretary, it completely depends on the company’s internal regulations. Their presence ensures that all the requirements and regulations are complied with the authorities. Company secretary also helps in solving any legal issues which form the foundation of your business in Holland. Their role depends based on the size of the company, however, there are some general responsibilities which they have to undertake no matter how big or small the company is.

The role of company secretary in your business:

1. Company secretaries advise the board of directors on the matters regarding corporate governance and also about their duties which include dealing with guidelines, any conflicts of interests, managing the interest of shareholders etc.

2. They also help in keeping and maintaining certain statutory registers like minutes of meetings and resolutions, register of directors, members etc. and also maintain company’s records like accountancy and tax records or any other statutory compliance records.

3. They are also responsible for organising any board or general meetings, complying with the notice requirements and updating the records for your business in Holland.

Company secretaries are also known as the company’s internal housekeepers. They maintain and update all the records and ensure that the businesses comply with all the necessary regulations in Holland. In addition, there are certain obligations which the companies are required to fulfill. Although it is not mandatory for the companies in Holland to appoint a company secretary, having one will ensure that all these obligations are met in a timely manner. Finally, the decision is yours whether to employ one or not. Make it wisely after taking a thorough stock of the situation.

Top 3 Benefits of Having Your Bank Account in the Netherlands

If you are someone who intend to start your Dutch company in Amsterdam, then it is necessary to have a Dutch bank account. A bank account can be opened only after the company has been registered at the Chamber of Commerce.  It is mandatory to open an account in order to set up your Dutch business. If you are not a resident of the Netherlands, then you can face certain issues as the banks there operate in Dutch language. In such case, you can use a PayPal account or open an offshore bank account. However, there are several benefits of having your bank account. Also, you can find several agencies that can help you in this process.

Benefits of opening bank account in the Netherlands:

1. An International Bank Account Number (IBAN) number is provided to the owners after the account has been opened. This allows them to make national and cross border payments in the Single Euro Payments Area (SEPA) zone securely and easily.

2. If your company is Value Added Tax (VAT) registered, then you may be entitled for the refund of the same. So, having your own bank account in the Netherlands will allow you to receive VAT refunds quickly.

3. The money transfer cost through a Dutch bank account is very less compared to doing the same using a PayPal account. Also, it is important that both the parties should use PayPal account in order to receive payments.

Starting a Dutch company in Amsterdam can be very fruitful because of the several advantages the country offer to the investors. In order for your Dutch business to run smoothly, it is necessary to open a Dutch bank account. Apart from the above-mentioned benefits, a bank account is also required for completing money transfers and other business transactions. There are several agents who can assist you in the complete process. So, make sure to open your account to help your business succeed.