Netherlands is the place for expat entrepreneurial businesses

For the ever-increasing number of younger entrepreneurs moving overseas to create their dream businesses, the Netherlands has much to offer.

Surveys of ‘best countries’ have their place in many would-be expats’ choices of where to go, but mostly concentrate on expat professional relocations or expat retiree destinations. Moving overseas to start a new business requires a different focus, with the Forbes Best Countries for Business known for providing the most relevant information for would-be expat entrepreneurs. Forbes’ latest release lists the Netherlands as third in a total of 153 countries for business friendliness.

The 153 countries in Forbes’ survey were evaluated for everything from innovation through corruption to investor protection, red tape, market size and quality of life, and stock market performance was removed from the list for the first time. Hopefully ignoring the fact that the UK was ranked first, even with Brexit looming and immigration getting tougher by the day, the Netherlands was ranked just below New Zealand and is far more convenient for those thinking of quitting the UK because of its lack of potential.

As the sixth largest European Union economy, the Netherlands was in the top ten places for innovation, technology, property rights, personal freedom and corruption, or rather its absence. The country has two types of business form, incorporated and unincorporated, with the former requiring a corporate personality or legal entity in the form of a notarial deed, which protects the owner/owners from potential debt liability.

Incorporated businesses must be set up via a civil law notary and registered with the Dutch Chamber of Commerce, and will have a higher level of taxes including corporation tax, which is considerably cheaper than personal income tax. In addition, admin and annual costs are likely to be more expensive than those of an unincorporated business, thus requiring a higher turnover. Unincorporated businesses can be directly registered with the Dutch Chamber of Commerce without the need to employ a notary, but company and private assets are not protected from business debts.