MEDIAPLANET TAKES FULL RESPONSIBILITY FOR THE CONTENT IN THIS INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH Go Dutch and succeed Holland’s hidden gem Immigration Why hiring local staff could Infrastructure could link How to make your time as be best for your business you to the rest of the world an expat easier

No. 2 / September 2009 BUSINESS IN THE NETHERLANDS

5TIPS

FOR SUCCESS IN THE DUTCH MARKET Team effort Why considering your workforce is paramount when relocating

Regional strength Which area is best for your business? THE GRASS IS Taxing issues The Dutch tax laws which could improve your GREENER business - and save you money On yourour doorstdoorstepep: HowHow Europe’sEurope’s mmostost ddynamicynamic fifinancialnancial ccentreentre became one of the most international economies in the world PHOTO: ISTOCKPHOTO Financial services for expats www.hnassociates.com

With decades of international and domestic service experience, H&N Associates can be called the expat specialist

MORTGAGES: PENSIONS: HOUSES: Specialised in Domestic and international www.MyDutchCastle.nl houses mortgages for expats pension solutions to buy and to let in the Netherlands The Expat Specialist

Beukenlaan 70 I 5651 CD Eindhoven I The Netherlands I tel: +31 40 2611 700 H&N Associates and MyDutchCastle.nl are trade names of IAK Verzekeringen 2 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH CHALLENGES

The current economic climate challenges many businesses to optimise efficiency whilst growing their market. The Netherlands facilitates successful European business growth in turbulent times. WE RECOMMEND Regions for business A detailed guide on which area of the Netherlands is right for your business and why. Seize business opportunities PAGE 04 “The Netherlands is split into twelve regions which, like its major cities, all have in the Netherlands their own unique history and xpanding your business across Take into account location, work- upon long-term experience in retire- business opportunities.” the UK border represents many force, infrastructure, business cli- ment management, financial logis- Dynamic Dutch p. 08 challenges, especially in times mate in relation to your particular tics, and sustainable finance and car- E 1. Why a skilled workforce are propelling of limited resources for risk-taking business case. bon trading to develop new services. The Netherlands forwards ventures. How can you leverage one A country connected p. 12 of the largest economic areas in the Experts at hand A supportive fiscal platform 2. Make one of the most enviable world which Europe represents? Al- It can be a rather daunting task Optimising taxation costs is im- infrastructures in Europe work for you though at your doorstep, at the same 2 to expand your market and set 4 portant in order to realise avail- time it can be the most complex area up in a different country. In my expe- ability of resources for further invest- in terms of diversity in culture, lan- rience at the Netherlands Foreign In- Bas Pulles: Commissioner of the ment. You should carefully plan your guage and systems. How can you op- vestment Agency, where we help for- Netherlands Foreign Investment Agency. setup, especially when growing in- timise your European footprint? eign companies with the challenges MY BEST TIPS ternationally. The tax environment Here, I believe the Netherlands of setting up in the Netherlands, in the Netherlands provides a sup- We make our readers succeed! plays a pivotal role to facilitate your companies that were assisted with Good start is half the battle portive platform for foreign compa- European business growth. The Neth- the relocation have shortened their Before jumping across the nies to develop their business, geared BUSINESS IN THE NETHERLANDS, erlands is one of the most important return on investment time and 1 Channel, make a well-in- towards avoidance of double taxation 2ND EDITION, SEPTEMBER 2009 trade and investment partners of the reached their goals. By being guided formed decision to take the right and providing certainty in advance Editorial Director: Katherine Woodley Sub-editor: UK, and vice versa. The Netherlands through the maze companies are en- turn. on tax liabilities. Danielle Stagg serves as a bridge between the UK abled to focus on what is most impor- Responsible for this issue and the rest of Europe and offers an tant: the development of their busi- Look into the future A gateway to western Europe Project Manager: Justin Blij Phone: 02076654405 ideal base for companies who want ness. Not only create a good first Whether distributing your E-mail: [email protected] to grow internationally across conti- 2 step for your continental Eu- 5 products to your customers or Distributed with: The Daily Telegraph, nental Europe. The heart of finance ropean business, but a stepping reaching out to potential clients, cost September 2009 3 Financial markets have been hit stone for further European expan- efficient and easy access to the di- Print: Telegraph Media Group Meeting your objectives hard in the last year, especially sion in the future. verse European market is crucial. A Mediaplanet contact information: The biggest challenge is how to in the world financial centres. Thriv- world-class port and airport with ef- Simon Kenneally Phone: 02076654400 1 find the right strategy and right ing, innovative financial companies, Don’t walk alone ficient transport connections to oth- Fax: 02076654419 location to accelerate business however, need an inspiring interna- Save money and time by using er continents as well as to the Euro- E-mail: [email protected] growth. What is important to your tional pro-business environment. 3 experienced available support pean hinterland are indispensable. company depends on specific cir- Amsterdam offers a welcome alter- services to find your way and jump- Routing through the Netherlands cumstances, needs and objectives. native in which companies can build start your European operations. will cut costs and time. 3

s from the flight UK ly to ai A d ct m re s i te r D d a 0 m 5

1

C e o d n i n w e d ct rl t o o w m ns ore atio than 250 destin

www.schiphol.com 4 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH NEWS

For the many businesses that relocate to The Netherlands every year, deciding where to TIP settle for some can prove extremely difficult. By knowing the differing attributes each area of this prosperous nation holds, you can help your business succeed. 1 DODO YOURYOUUR RESEARCH Regions of the Netherlands city the second largest ex-pat Japanese com- Government as well as many UN and EU organ- to be the most fertile in Europe. NEWS munity in Europe. isations. It is also where many multi-national companies are headquarterd (such as Shell, BP, Utrecht O
Question: How can I know which area Rotterdam Siemens and KPN). Hence it is renowned as The country’s fourth largest city, and mu- of The Netherlands will suit my company Until just five years ago Rotterdam was the a centre for civil servants, dip- nicipal capital of the Utrecht region, is best? world’s biggest port. It has now been supersed- lomats and executives from home to the country’s largest university. O
Answer: By researching each individ- ed by the Far East but remains Europe’s larg- global corporations. Arguably its greatest economic asset is its cen- ual region you can be sure you’re situated est port and so the city is a major route into tral position where it acts as a hub for rail and in the area which will make your company and out of the Flevoland road communications between Rotterdam, more likely to flourish. continent. Much of this 140,000 hectare ar- Amsterdam and Germany. Hence the Dutch Therefore it ea did not exist 50 years ago when national railway is based here. The city is less The Netherlands is split into twelve regions may come as lit- it was reclaimed from the Flevo ma- industrialised than the likes of Rotterdam or which, like its major cities, all have their own tle surprise that it rine lake. The area has been extensive- Amsterdam. unique history and business opportunities. is home to the Dutch ly forested to give a natural countryside half of Unilever as well as feeling and its main selling points are low West of Holland Amsterdam Mittal Steel Company. land prices despite the close proximi- This large (geographic not administrative) re- The capital of the Netherlands (although The city has its own ty of Schipol airport and Amsterdam. gion within the Netherlands includes The its government is based in The Hague) is a airport as well as ex- In fact, the local airport of Lelystad is Hague and Delft (famed for its porcelain) as little similar to London in that it is a ma- cellent water, road owned by Schipol airport which well Leiden. jor business centre with strong finan- and rail links to plans to develop the site fur- Leiden is an interesting city which has a cial, IT and creative industry clusters. help distrib- ther, doubling its runway very well respected university and a life sci- Unlike London, though, the centre of the city is ute goods length by 2010 so it can add ences cluster developing at its Bio Science Park just a fifteen minute direct train ride away from in and large international flights which is just 25km west of Schipol airport. Schipol airport which is the continent’s fourth out of to the small business jets most important hub with flights to more than the port. which currently use the facility. 200 destinations. The area is also well known for its Many banks and media companies are based The Hague abundance of windmills and because in Amsterdam and the high concentration of IT The Hague is home the land was reclaimed, the SEAN HARGRAVE and consumer electronics companies gives the to the Dutch sea clay soil is claimed [email protected]

>OH[ZJOVVSPZILZ[MVY`V\YJOPSK& ;OH[³ZHX\LZ[PVU[OH[THRLZ`V\[OPURHUKPZU³[[OH[^OH[HNVVKLK\JH[PVUZOV\SKKV& +VLZP[THRL`V\[OPUR& ;OPURHIV\[[OL^VYSKHYV\UK`V\[OL^O`ZHUK[OLOV^Z ([0:(^LLUJV\YHNL[OPURPUNILJH\ZLZVTL[PTLZ[OLILZ[HUZ^LYZ JHUILMV\UKQ\Z[I`SLHYUPUN[VHZR[OLYPNO[X\LZ[PVUZ

Your child’s future 7V^LYLKI`[OL0U[LYUH[PVUHS:JOVVSVM(TZ[LYKHT :WVY[SHHU ;)(TZ[LS]LLU;OL5L[OLYSHUKZ^^^PZHUSHKTPZZPVUZ'PZHUS AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH SEPTEMBER 2009 · 5

FACTS

O
Netherlands population is nearly 16.5m O
Queen Beatrix is Head of State O
Dutch and Frisian are the two official languages O
The Euro is the official currency O
The country is made up of 12 regions O
Although it is often referred to as Holland, North and South Hol- land are actually two regions of the Flevoland Netherlands O
Amsterdam is the capital and t largest city with nearly 750,000 in- habitants O
Rotterdam is second with 600,000, then the Hague with Amsterdam 470,000 and Utrecht 281,000 t O
The Netherlands is more dense- ly populated than the UK with 395 people per square km (or 1020 per The Hague square mile) compared to 246 (and Utrecht 640) in the UK t O
Despite its Protestant links with Rotterdam t the UK (William III of Orange was West Holland invited to become King of England in 1688 to ensure a Catholic did t t not accede to the throne), 27% of the Dutch are Catholic, 16% Prot- estant, 5% Muslim and nearly half have no religion O
Four in five of the population are Dutch O
In 1957 the Netherlands was a founder member of the EU O
40% of the country is below sea level. Zuidvlaspolder is the lowest point at 7 metres below sea level THE REGIONS: and Vaalserberg the highest at 322 Each area of The Netherlands has its own metres above sea level unique strengths PHOTO: JURGEN ZIEWE 6 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH NEWS TIP Dutch immigration and residency Looking after staff key regulations 2 Expatica’s mini guide to Dutch immigration and resi- CONSIDERCONSONNSSIDDERRY YOURYOOUOURUR dency regulations WORKFORCE to relocation There are two main bodies involved: O
Question: How can I better my Expect change the IND, which implements immi- chances of success when relo- One of the most important jobs of the gration policy and makes decisions cating to the Netherlands? relocation company is to manage the on residence permits, and the GBA, O
Answer: Bringing appropriate expectations of the employee, espe- where you register your entry into staff into the region is essential to cially US expats. Europe is far more the Netherlands. the success of the multinationals expensive than the US and homes are Anyone who intends to stay in the based there. much smaller. If the employee and Netherlands for more than three family are made fully aware of this months (including EU/EEA nation- Companies work with relocation before arrival, then it is far more like- als) must register at the GBA (at the providers either directly or via an ly that they will embrace this new local town hall) within five days of outsourced global provider. Working aspect of their lives with equanim- arrival. directly with a relocation provider ity. However, if they arrive expect- All non-EU/EEA/Swiss nation- gives a much higher degree of part- ing to replicate their 3,000 sq ft sub- als require a residence permit, and nership and communication. MOVING FORWARD: To succeed, help those who move with you PHOTO: STEVE COLE urban home with something similar may also need an MVV to enter the An outsourced global provider of- in Maastricht, they will be shocked to Netherlands to stay for more than fers a single point of contact for in- Most people will face the prospect In advance we will swing between discover their housing allowance will three months. Once registered with ternational corporations and then of moving to a new country with a excitement and anxiety and on ar- only stretch as far as an apartment. the GBA, you make an appointment outsources the work to a local reloca- mixture of trepidation and excite- rival we tend to experience mild eu- Given the right support before and with the IND (www.ind.nl) to apply tion company. It is more than possi- ment. There is a clearly researched phoria as we are faced with a new during the relocation, the adjust- for a residence permit. ble that the actual relocation provid- pattern to how an individual will re- lifestyle in a new and exciting place. ment to the reality of a new life in the The MVV is an authorisation for er would be the same choice in either spond to a move. However this soon fades. Netherlands can be swift and suc- temporary stay that applies to mi- case. cessful. grants intending to stay longer than TIPS FOR RELOCATING STAFF This is the ideal and there are a three months which can only be ap- Change of life million examples of failed assign- plied for while you are outside the The impact of the relocation on both O
Work with a professional reloca- the relocation, send them on a pre-de- ments which, in 80 per cent of cas- Netherlands. employee and family is profound and tion provider and provide them with as parture orientation trip es, are attributed to a failure to adapt After three years in the Nether- is the driving reason for companies much advance information as possible O
Where necessary, language train- to a host country. So, where the relo- lands, a non-EU national who has to use professional relocation servic- O
The average 3 year overseas as- ing is vital cation is professionally handled, and a residence permit based on a rela- es. The perfectly qualified candidate signment costs around $1,000,000 – O
Work with international schools to the employee and family are given a tionship (a Dutch partner for exam- has been identified, but how much Relocation assistance costs less than establish pre-departure friend net- good orientation, the odds of failure ple), can apply for a permit in their can the company really know about $10,000 works for children to meet their new to acclimatise drop dramatically. own right. other factors which will affect the O
Ensure that partners are support- contemporaries in advance Great staff with international com- Employers are authorised to ad- transfer? If there are issues affecting ed as much, if not more than the em- O
Offer support throughout the as- petences are in exceptionally high mit Knowledge Migrant applicants the candidate’s relationship or fami- ployee signment to solve any issues that may demand, even in today’s shaky econ- – there’s a complete list on the IND ly, they will become clear during the O
Cross-cultural training is central to arise omy. Retaining them is key and pro- site – and qualifying is related to relocation and it is almost always the settling families in new locations O
Have a pre-determined repatriation fessionally managed relocations are salary and age. Help is available at relocation consultant who finds out O
If there are any doubts about a can- strategy in place from the start a huge step forward in achieving that Amsterdam’s Expat Center (www. first. didate or family’s ability to cope with goal. expatloket.nl).

PROMOTIONAL FEATURE Outsourcing Relocation: Striking the Right Balance Relocating employees across also result in greater time saving “It all comes down to relocation Europe can be a challenging and for an organisation. Relocating expertise and leveraging that costly experience for both the employees in-house requires the in the right way. Companies organisation and the employee. HR function to keep abreast of don’t want to manage expenses As a result, organisations are matters such as legislative and for each transferee or build a increasingly turning to professional regulatory changes, cost of living knowledge base to understand tax relocation service providers to differentials, benchmark policies reporting or visa and immigration deliver cost-effective mobility and practices, shipment practices issues. That’s not their business. solutions. and country tariffs or guidelines, Instead, they want a partner, who visa and immigration, amongst is completely focused on providing The Best thinking in Relocation “There are a number of reasons others. the best relocation experience as to why organisations are for the employee and is able to SERVICES WORLD WIDE The Americas, Europe, Middle East & Africa, outsourcing the management of Relocation service providers, offer clients the best practices Asia Pacific relocation services”, according such as Paragon Relocation, in relocation from a variety of to Geoff Mills, Managing have the knowledge, staff and industries” adds Geoff. +31 (0)26 365 3541 • +353 (0) 1811 6630 www.paragonrelocation.com Director of Paragon Relocation resources to efficiently manage [email protected] Holland. “Principally a relocation the entire relocation process Paragon Relocation is a global service provider can assist with from start to finish, thus enabling relocation service provider, programme development to the organisation to pursue headquartered in Dublin, Ireland achieve significant cost savings, their corporate strategies in with offices in the Netherlands, increased management capability the knowledge that their key Spain, the UK and Switzerland. and higher employee satisfaction”. employees are being looked after. In addition, outsourcing can 7

www.dutchrelocation.nl Specializing in Rotterdam and vicinity

Starting business activities in the Netherlands

is just a phone call away.

If you are considering business activities in the Netherlands, you only need to make one phone call! Dutch Living Services helps you all the way through, whether you are starting a business operation or seconding your staff to the Netherlands.

World Trade Center Schiphol Airport Schiphol Boulevard 183 1118 BG Schiphol Airport +31 20 20 65860 [email protected] www.dutchlivingservices.nl

"USINESSSTART UPs2ELOCATIONs4AXs)MMIGRATION 8 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH

INSPIRATION TIP

Question: Is there more to the Netherlands than a favourable corporate tax regime? Answer: Yes; geography, skilled labour and logistics all play a role, according to Hans 3 van Wijk MAKEMAAKE USEUS OFOF SKILLEDSKILLLED STAFFSTAFF Skilled workforce bolster tax and geography

university or higher education educated van Deursen, Director of the Netherlands staff with a tax perk thrown in for good LEADER-TO-LEADER and nearly all will speak excellent English British Chamber of Commerce, recalls, measure, which Deursen believes can be and a very good proportion will also speak just a couple of years ago the inward in- the final bonus which can persuade com Take a look at a map of Europe and one of fluent German or French as well. We al- vestment into Holland was inflating re- panies to set up in the Netherlands. the strongest appeals of the Netherlands so find that because there are so many ex- muneration packages. “When companies considering setting becomes instantly clear. pats working in the Netherlands compa- “The days of two company cars and peo- up in the Netherlands investigate the re Draw a triangle around the continent’s nies never have a problem attracting na- ple meeting their boss at the dealer to pick gion they find that the quality of life is ac three most important economies – Ger- tive speakers for the countries they wish their cars before they joined the business tually very high,” he says. many, UK and France -and right in the to do business in. There are something “One of the are long gone,” he reveals. “The workforce is more static, because middle you will find the Netherlands. Its like 177 different nationalities living in Netherlands’ “We haven’t gone as far as having the employees are better protected than the excellent air, road, rail and water infra- Amsterdam alone.” greatest hire and fire situation that you have in UK, and so there isn’t this problem of at structure put the country at the heart of In fact the figures speak for themselves. assets is its America and, to a certain extent, the UK, trition of people constantly coming and Europe’s powerhouse economies. With nine in 10 Dutch people speaking highly edu- but the labour market is definitely back to going, forcing businesses to constantly re another language (usually English) and cated, flexible normal. cruit. Skilled workers with a highly educated workforce which workforce.” “For those companies who want to When you add in the tax measures tha While this is an important factor in cor- have gone through a higher education Hans van Wijk bring their own talent to the Netherlands are designed to appeal to companies set porations investigating the Netherlands, system with a heavy leaning towards vo- Deputy Director of there is obviously the very attractive 30 ting up in Holland, which make it easy for there are many reasons beyond a favour- cation study, the Dutch unemployment Amsterdam in per cent ruling whereby the first 30 per them to bring in their own talent as well as Business able geographical position and approach rate, for July 2009, was just 3.3 per cent, cent of their wages will not be taxed. hire locally, then look at its position as the to corporate tax which convince boards to less than half the rate in the UK. It’s a unique selling point for the Nether- gateway to Europe, you can see why a lo set up in the Netherlands, Hans van Wi- lands which, as you can imagine, is some- of companies do choose to set up here.” jk, Deputy Director of Amsterdam inbusi- Back to normal thing that foreign employees find very at- ness, explains. Even so, the global recession has had an tractive and so the companies seeking to “One of the Netherlands’ greatest as- impact on the Netherlands. One of the employ them in Holland find it a very use- sets is its highly educated, flexible work- biggest effects, though, which investors ful piece of legislation.” force,” he says. may actually find to their liking, is the It is this skilled workforce, which can be SEAN HARGRAVE “Around 44 per cent of our workforce is cooling-down of the labour. As Michiel supplemented easily by a company’s own [email protected]

PROMOTIONAL FEATURE Planning to buy, sell or value a property? Most people would agree that purchasing a property is something of a life-changing event, in that it involves an emotionally charged decision that comes with major financial consequences. This makes it important for you, as the purchaser or vendor of a property, to enlist expert advice.

The estate agency of Mie-Lan Kok Makelaardij o.g. is a professional organisation that approaches its niche market of sale and purchase mediation and property valuation with drive and flexibility. The company is managed by Mie-Lan Kok together with one assistant and a professional back-office team. A personal touch and fair trade is key to her approach, which is anchored in forging a close personal relationship based on mutual trust with her clientele.

As well as being up to speed on the local market, Mie-Lan’s dealings with expatriate buyers and sellers have earned her the moniker of the Expat’s Expert. Her international experience and service-oriented approach inspire every confidence in a successful partnership with her clients. Mie-Lan Kok Makelaardij o.g. is affiliated to VBO, the Association of Estate Agents in the Netherlands, as the country’s fastest growing, most proactive trade organisation for estate agents. The Code of Conduct by which all VBO-affiliated agencies are bound ensures compliance with a set of rigorous quality standards, with an independent disciplinary board overseeing all members’ operations.

Contact Mie-Lan Kok Makelaardij operates from its office in Heemstede and works for clients in the Amsterdam-Haarlem-Hoofddorp region as well as taking on engagements in the Hague and Gooi regions on a one-off basis. Mie-Lan Kok Makelaardij o.g. B.V. J.H. Weissenbruchweg 19 NL 2102 AE Heemstede (T) +31 (0)23 5475941 (F) +31 (0)23 5475942 (E) [email protected] (I) www.mielankok.nl AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH SEPTEMBER 2009 · 9

7 WHY HOLLAND? THE FACTS

O
91% of Dutch people speak a second language well enough to hold a conversation (compared to 67% in Germany, 51% France and d 38% in UK) e O
Of those who can speak a sec- m- ond language, English is spoken by nearly nine in ten (87%), German by g 70% and French 29% - O
44% of the workforce have grad- - uated from high school with a senior level educational or vocational qual- e ification. e O
20% of Dutch workers have a uni- t- versity degree, a further 12% have a d masters or doctorate - O
The Netherlands has the 7th highest GDP per capita accord- t ing to World Bank figures for 2008, t- that puts the country above the USA r (12th), France (14th), Germany (15th) s and the UK (16th) and Japan (18th) e O
Amsterdam was rated 13th best t city for quality of life in the 2009 Mercer Quality of Living report, Lon- don comes 38th O
The Economist placed the Neth- WORKING TOGETHER With the right team you erlands in 16th place in its Quality can ensure a bright future of Life survey – France came 25th, for your company Germany 26th and the UK 29th PHOTO: ISTOCKPHOTO TO BUY OR NOT TO BUY... When might it be a good time to buy a house? When the good chance of paying the right price for your dream hhouse.ouse. housing market is shooting up (like it has been doing since 1990)? Or when we are amidst a financial crisis as we are 4. You are in a much better position to negotiate. The hhousingousing today? market is today clearly a buyer’s market. Up to the middleddle of last year, especially in the Amsterdam and The Hague areas,as, potential According to the Dutch Association of Real Estate Agents (NVM) buyers were falling over each other to be first in witha a bid.bid. At At the the there are currently five reasons to buy a house right now. moment you can take your time and bid well below thehe asasking.king. 1. At the moment interest rates are low. Interest rates determine 5. Owning your own home is a good investment over ththee llongeronger one’s monthly payments and at the moment the rates are attractive. term. Over many many decades house prices have almostmost alwaysy Variable rates at around 3,5% can even be found, but of course bettered inflation figures. Even though there will alwaysysy be periods variable rates are not suitable in all circumstances. of declining house prices, also in the future, the long termerm hashas always seen excellent returns on investments in your oownwn 2. There is a larger choice of houses on the market. Houses are home. currently also on the market for a longer period and the potential house buyer thus has a greater chance of finding the house that A safe financial future is critically important to you. It perfectly matches their wishes and financial possibilities. demands clear, honest information; trusted, independentent advice; and creative, tailored solutions. And the 3. House prices have now dropped to more realistic levels. Over same goes for today’s business. De Boer Financial many recent years the housing market has been overheated; asking Consultants is a competent and committed source prices of houses were determined more by emotion rather than for both you and a business. the intrinsic value of the property. At the moment you stand a very

MORTGAGES * PENSIONS * LIFE INSURANCE * COMPANY ARRANGEMENTS * FINANCIAL PROTECTION For more information call +31(0)705 118 788, email: [email protected] or visit www.fvbdeboer.nl De Boer Financial consultants 10 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH INSPIRATION

QUESTIONNAIRE Niek Biegman Managing Partner, De Brauw, Blackstone and Westbroek

1. What legal differ- ences do UK business- es need to be aware of? The Dutch legal system is based on law that is on the statute book, so it’s less based on common law ex- amples from previous cases, as is it is in the UK and America. I think this makes the Dutch system clearer because it’s based GET A BALANCE on written down laws, not prece- The Dutch system could prove benficial to your dents. Also there is not the distinc- business tion between solicitors and barris- PHOTO: ISTOCKPHOTO ters, there are just solicitors.

2. What is your advice on Dutch contracts? You need to establish if Dutch or British law applies first of all. With Dutch law I believe things can be clearer and contracts are normally No pain on gains in shorter. The problem always is the British want British law to apply and the Dutch would prefer Dutch law. It’s understandable that compa- nies want to deal in their own law Dutch tax system as it would be messy if big compa- O
Question: How will my Similarly there are advantageous rul- nies dealt in various local laws in business fit into a new tax “The Netherlands ings on loans made between Dutch multiple jurisdictions. system? companies in the same group not be- O
Answer: If you get the right is such an ing treated, and therefore not taxed, 3. Are there advantages to advice you can be sure your attractive place to as income. dealing in Dutch law? company will be heading in the The main one, I believe, is things right direction set up a holding The right balance are simpler and so contracts are company” Also, the Netherlands has advanta- shorter and so bills can be kept LEADER-TO-LEADER geous rules on holding companies down.

The Dutch government knows that Peter Kavelaars working out the tax owed across two or Also the fact that there are not its geographic position and ex- Tax partner at Deloitte more businesses, Kavelaars outlines. barriers between solicitors and cellent transport infrastructure “The fiscal unity rules mean that so barristers means that you of- may put the Netherlands on cor- subsidiary and make a profit,” he says. The same 5 per cent stake ap- long as a company owns 95 per cent ten find a solicitor putting to- porations’ short lists for Europe- “It’s one of the major reasons why plies to dividends paid by a com- or more of another company they can gether a contract for you will an HQ sites but what can really seal the Netherlands is such an attractive pany to its Dutch parent compa- be treated as a single entity for taxa- have been in many big court cas- the deal is simple; low taxation. place to set up a holding company. ny. So long as this minimum stake tion purposes,” he explains. es so they can shape a contract The headline figures are that two You can have subsidiaries which do is held, there is no tax on dividend “This means that if a company has for you with that experience. years ago, to make the country more well and get sold and you don’t have payments paid to the holding com- made a big profit but another has competitive, Corporate Income Tax to pay capital gains tax, so long as pany. This is common practice in made a loss, the tax is due on the bal- 4. Any pitfalls UK execu- (Corporation Tax) was reduced to 25.5 the Dutch holding company owns at the EU but the minimum stake in ance. It’s a very attractive ruling.” tives need to think about? per cent and the tax on dividend pay- least 5 per cent of the company sold.” most other countries is 10 per cent. There are also R&D tax breaks for The main one is that Britons do not ments was brought down to 15 per companies through reduced tax on realise if they pull out of negotia- cent. FACTS employers for each employee they tions with a Dutch company at the These two reductions have made have engaged in research as well last stage they can be liable for the the Netherlands an attractive loca- O
Corporate Income Tax (Corporation lands from abroad by a possible 30% as a tax credit system where prof- other party’s legal costs. tion to set up businesses but Peter Tax) is 25.5% (20% on the first 20,000 ruling through which the first 30% of a it (up to four times the initial in- This applies where a company Kavelaars, tax Partner at Deloitte, Euros of profit and 23.5% on profits be- person’s wages is not taxed. They are vestment) from patented prod- gets a deal before the CEO in Lon- points out there are many other ad- tween 20,000 to 60,000 Euros) awarded at the tax office’s discretion and ucts is taxed at only 10 per cent. don who suddenly decides the vantages to the Dutch tax system. O
The Dutch tax system is designed to can last a maximum of ten years Hence, if 100 Euros were put in to a price is too high and they should appeal to corporates setting up head- O
There are tax breaks for employers patented product’s development, walk away. In Dutch law that’s Pocket the profit quarters hiring employees to carry in R&D and the first 400 Euros worth of profit not good enough. If things haven’t Top of these is ‘participation ex- O
Capital gains is not charged when a a tax credit which means profit from a would only be taxed at 10 per cent. changed and you’ve kept the oth- emption’ when a company which subsidiary is sold for profit and profits good or service which has intellectual In all, the various measures, Kave- er party round the table for a long is registered and taxed in the Neth- O
Fiscal unity laws mean profits and property behind it is not taxed until prof- laars explains, are designed to help time incurring legal bills, our sys- erlands comes to sell a subsidiary. losses across separate companies its reach four times the initial investment the Netherlands compete with the tem will often tell you to pay the “It’s a very popular tax efficiency owned by the same Dutch parent can be in the item likes of Ireland and the UK as the op- bill for them. where you don’t pay capital gains if balanced against one another timum location to run European op- you’re a Dutch company and you sell a O
Workers are attracted to the Nether- erations through. 11 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH INSPIRATION

2 3

OUR WORLD IN THEIR HANDS Dutch innovation leading the world Over the past few decades The Netherlands has expertly positioned itself at the forefront of life science develop- ment, earning international recognition and respect. With a clear commitment to both biotechnology and environmen- MOVING FORWARD: tal innovaton, the Dutch 1.Dutch research and government are paving the development is benefitting businesses on a global way for companies across the scale globe willing to excel in research 2. Bio sciences remain a and development in modern key area of interest for the science. Dutch government 3. Scientists are striving to improve quality of life 1 PHOTOS: ISTOCKPHOTO 12 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH NEWS

TIP Dutch go for ’Double Dutch infrastructure 4 Decker’ Don Hardy is Director of UTILISEUTILLISE NANATNATURALATURRARAL ASSETS Business Development at second to none engineering consultants O
Question: What makes the and beyond. Arcadis and is working on Netherlands so dynamic and While Britons have long since for- innovative rail and road successful? gotten about transporting goods by projects in Holland O
Answer: The country’s inland waterway, Jan Paul Olijslag- enviable position and infrastruc- er of the Holland International Dis- Q: What is the Maastricht un- ture has undoubtedly aided its tribution Council points out they are derground ‘double decker’ road success. still well used by the Dutch. project? Why is it needed? “Barge transport is very common A: Right now, the most important Dutch business people are renowned in the Netherlands because we have motorway divides the city of Maas- for being pragmatic and so it follows the two major ports which are so well tricht in two. The millions of cars that the country’s most realistic as- connected to the surrounding coun- that go through this city cause ma- sumption is that companies do not tries, particularly the Ruhr area of jor traffic problems and environ- set up in Holland just to do business Germany,” he says. mental problems. in its domestic market. Hence, one “We also have centres downstream Arcadis is part of a consortium of its strongest assets are its connec- PRIME LOCATION: Rotterdam port is globally renowned and has an international rep- from the ports where cargos are sent that has come up with a 2.3-kilo- utation as one of the most accessable ports in the world. PHOTO: ISTOCKPHOTO tions with the three neighbouring by barge and then handled at a logis- metre, ‘double-decker’ tunnel for powerful markets of the UK, France Go with the flow dled each year). These give excellent tics centre. It can save companies both cars and trucks -- the first of and Germany, as well as the rest of In addition to Schipol and fast rail access to inland waterways and money compared to using trucks and its kind in Europe. the Benelux area. connections, the country has the rivers which can take cargo to logis- it’s obviously more environmentally Cars and trucks are expected Schipol airport will need no intro- ports of Rotterdam and Amsterdam, tics handling centres in the Neth- friendly and less congested.” to begin using the tunnel in 2016. duction to any travelling business the first and fourth largest ports in erlands or all the way down to the Maastricht meanwhile will be able person. It is a major international the Europe (by weight of cargo han- Ruhr industrial region of Germany Goods only to enjoy a green boulevard in its hub with direct flights to more than The Netherlands also boasts what town centre, rather than endure a 200 cities yet unlike many airports it FACTS is believed to be Europe’s only new- busy stretch of road. is just a quarter of an hour train ride ly-opened freight-only rail line from Q: How realistic is the target of away from its neighbouring capital, O
Europe’s ports by metric tons of cargo O
Water: 6,211km, 75% canals Rotterdam to the German border. train between major Dutch cit- Amsterdam. handled each year are Rotterdam (421m), O
Roads: 134,981km, of which 3,267 Dutch Government realised that if ies leaving every 10 minutes? Indeed the country boasts an envi- Antwerp (189m) Hamburg (140m), Mar- are highways with 120km per hour speed the port were to continue to grow A: Very realistic. Although the able rail infrastructure. In addition seille (96m) and Amsterdam (94m) limit and virtually no tolls there would be too much pressure Netherlands has one of the most to fast internal routes there are in- O
Rotterdam is the world’s fourth larg- O
12,0000 hauliers, 500 of which provide on the rail system and so commuters advanced railway systems in the ternational direct trains to Brussels est port logistics services and freight can now travel on sepa- world, we are always working on (two and a half hours), Paris (a little O
In June 2007 Queen Beatrix opened O
More than 70 air freight companies rate services. increasing rail efficiency. The state over four hours) and Berlin (6 hours). the 99 mile long Betuweroute freight line and 28 passenger airlines use Schipol, For those who need to go direct by rail system has a stated goal of en- The line from Amsterdam to Paris from Rotterdam to the German border. Rotterdam, Eindhoven and Maastricht road there is an enviable network of suring trains leave the stations is already fast but there is an upgrade The Germans are behind schedule and airports motorway connections which not every 10 minutes and in fact, this is path being considered that would do not expect to build their half of the line O
Proximity to Germany and Belgium only link Dutch cities but crucially the case in some places. The aim is double the speed of trains to around until 2015 makes the two countries the Nether- give fast access to France, Germany to increase efficiency while guar- 300kmph. O
Rail: 2,797km, two thirds is electrified lands’ prime trading partners and Belgium. anteeing safety and reliability.

The British School of Where to find us Amsterdam provides a quality Situated in a quiet residential area close to education to children between the ages of the World Trade Centre. Public transport is 2—18 years. a viable option from all parts of the city and surrounding areas. The School runs a The School aims to create a stimulating and door-to-door bus service. caring environment which enables all individuals to realise their full potential. If you would like to make an An experienced staff, small class sizes and a appointment to visit the school or would high teacher: pupil ratio all help your child like more information, to settle quickly into school. please contact:

We welcome children of all nationalities and The British School of Amsterdam children for whom Anthonie van Dijckstraat 1, English is an additional language. 1077 ME Amsterdam Telephone + 31 (0) 20 6797840 www.britams.nl info @ britams.nl 13 

 
 &
"
!$ &

Leiden Bio Science Park is the leading life science cluster in The Netherlands and ranks among the top fi ve most successful science parks in Europe. The Leiden Bio Science Park features over 60 dedicated medical life science companies, the largest number of Dutch bioscience start-ups, several multi-nationals and internationally acclaimed knowledge institutions. Leiden is an excellent environment for your science and business to fl ourish.

N ATIO - LEID OV EN N N B I IO F S O C S I E R N A C E

E Y

P

5

A

2

R

-

K

9

-

0

2 0

5

2

- Y

E 198 4

A 8

R 9

1

A

-

N

Y N

R I I V A E S R

Why choose the Leiden Bio Science Park for your European headquarters?

(


 "
#!"

"

!
 ! (

!&
!!


 !" #"#  In the park you will fi nd research, discovery, development Amsterdam international airport and the port of Rotter- and manufacturing companies, service-oriented busines- dam can be reached within 30 minutes. The park is ses and training institutions, all together in one location. situated next to the highway and the train station. (


!$
 

!" #"# 
$ " (
#
!"!
$

'
%
! 

" The city of Leiden and Leiden University work closely Life science companies and institutions at all stages together in further developing the park. of development are welcome. The park offers oppor- (

#"
"! tu nities for start-ups in the “incubator” buildings Flexible offi ce and laboratory accommodation for start- and multi-tenant buildings for maturing companies. ups within an incubator environment. More than 36 hectares is available to build your (

%"
#!!!
" own premises. Leiden is home to several multinationals and offers an internationally oriented and well-trained workforce.

for more information: + 31 (0)71 524 75 55 www.leidenbiosciencepark.nl


'&
*+)'&
3
* $)
3
&+'')
3
 
3
),$$
3
&"*'
&&')
3
$( '*
3

$$) 0
3
"&
&"-)*"+0
3
 
3

3
&+')
3
+'$,*
3
!)%"&
3
)'*&*
3

')+')"*
3

3
'(
&*+"+,+
!)%
3
&'
&
'+!)*
"
"
 !"

!!
#!"


" ! 14 · SEPTEMBER 2009 AN INDEPENDENT SUPPLEMENT DISTRIBUTED WITHIN THE DAILY TELEGRAPH PROFESSIONAL INSIGHT TIP Amsterdam has always been an important financial city since the creation of the world’s first public stock exchange in 1602 but now the city is developing a world-leading financial services cluster. 5 11 LEARNLEALEEAARNN FRFROFROMM TIPS FOR EXPATS THE LOCALS Just arrived? Make sure you’ve ticked off the Amsterdam leading the way in following tasks Register with the GBA (at 1 your local town hall) within five days of arrival, and make an financial services appointment with the IND for a efore Britain gained an Building strengths FINANCIAL DEVELOPMENT Solid ground residence permit, if you need one. empire which made The key to Amsterdam develop- The city’s traditional banking gi- Open a Dutch bank account. London a global finan- ing a financial services cluster has “Dutch banks are ants are also part of the cluster and 2 You’ll need the usual paper- cial centre, the Dutch been identifying and accentuation Annerie Vreugdenhil, Head of ING work plus your citizen number were equally as influ- the country’s strengths, so it knows popular with in- Wholesale Banking, explains that BSN. entialB in the financial services of the where it can compete most effective- ternational com- the current cluster is proving a suc- Should you rent or buy a home day. ly, according to Robin Fransman, the cess because it is built on solid inter- 3 — and where? Research well. While its government knows it is Deputy Director of the Holland Fi- panies because national banking experience. Decide on local or interna- not possible to turn back the clock, nancial Centre. we’re very skilled “Dutch banks are popular with in- 4 tional education for your chil- it has realised the capital’s rich his- “We’re not trying to take on Lon- at managing cash ternational companies because we’ve dren. tory means it has many unique sell- don or Wall Street directly,” he points been international traders for the Enrol your children in a day- ing points in financial services. These out. “We know that Amsterdam is and making past four hundred years so we’re very 5 care centre or hire an au pair. have been identified by setting up a large, important financial centre international pay- skilled at managing cash and making Ask around to find the most the Holland Financial Centre which and we can concentrate on the areas international payments,” she says. 6 cost-effective service provid- is promoting and boosting Amster- where we excel. ments” “We’re a very efficient source for ers dam’s thriving financial services sec- “There are four main areas; pen- making payments and the banking Job searchers should sign on tor. sions, sustainable investments, inter- sector is built on solid foundations 7 with specialist agencies or Much of the activity centres national payments, or financial logis- because Dutch people still have a very start their search online. around the Zuidas (southern axis) ar- tics as I like to call it, and niche areas traditional and cautious approach to Enrol in a language school or ea between Schipol airport and the such as clearing and settlements.” money. Other than your house, and 8 a municipal course to learn capital. The area is attracting many To help Dutch companies launch perhaps your car, the Dutch way is al- Dutch. new businesses but, in particular, it innovative financial services a 250m ways to save and then buy something Choose a health insurer. Find fast developing as Amsterdam’s fi- Euros incubator fund has been set up rather than take out loan after loan.” 9 a doctor. Know who to call nancial services cluster and is home with private money and is expect- Vreugdenhil likens the Zuidas fi- outside of practice hours. to the Duisenberg School of Finance ed to double in size to 500m Euros by nancial cluster to London’s Canary Find out if you can exchange whose first Masters students gradu- the end of next year. This, Fransman Wharf where financial services pro- 10 your driving license. ated this summer. Apart from office point out, is designed to help new viders have moved beyond tight, nar- Get out there and start meet- space being far cheaper than most companies launch and being to offer row lanes of a city centre to more 11 ing people. Use the internet other European capitals the area al- services in an industry where busi- modern facilities. The main differ- to network. so has the enviable attraction of be- nesses can find it hard to raise start- ence being, she points out, is that the ing less than a ten minute train ride up capital because of the large sums Annerie Vreugdenhil, Zuidas move puts those companies from the airport. involved. Head of ING Wholesale Banking within a ten minute train ride to a SEAN HARGRAVE major international airport. [email protected]

For meetings we suggest the extraordinary

Free high-speed Internet access available to meeting delegates, 100% Guest Satisfaction Guarantee and contemporary surroundings - all you need for a successful meeting.

Radisson Blu Hotel, Amsterdam Radisson Blu Hotel Amsterdam Airport, Schiphol Tel: +31 20 623 1231, [email protected] Tel: +31 20 655 3131, [email protected] radissonblu.com/hotel-amsterdam radissonblu.com/hotel-amsterdamairport radissonblu.com/meetings 15

Expanding your business into continental Europe? Join us in the Amsterdam Metropolitan Area.

www.amsterdaminbusiness.com

amsterdam inbusiness is the official foreign investment agency of the Amsterdam Metropolitan Area. 16 3UCCESSå MATTERS The Financial sector in The Netherlands is large in international perspective. The sector accounts for 7,3% of Dutch GDP, 1–2% higher than in neighbouring countries. Indeed, The Netherlands is home to a large and thriving fi nancial industry.

Global rankings of The Netherlands… success matters:

16th largest economy 8th largest fi nancial sector globally in balance sheet total 3rd in Sustainable Investments 3rd in Private Pensions 3rd in Securities Clearing 2nd in International Payments Traffi c 2nd in Carbon Trading and Carbon Based Financing 2nd in Credit Insurance 1st in Derivatives Market Making

Looking to expand your fi nancial business from The Netherlands? Contact Holland Financial Centre at www.hollandfi nancialcentre.com.