Draft legislative proposal offers a closer look at the forthcoming Dutch register of ultimate beneficial owners
A draft legislative proposal regarding a Dutch register of ultimate beneficial owners (UBOs) was published for consultation on 31 March 2017. This is more than a year after the proposed form and function of the register was announced, as discussed in our March 2016 Newsletter. Although this is a first draft and therefore possibly subject to change, it is important to know what this legislative proposal entails.
To all second-degree managing directors out there: mind your step!
It just got easier for second-degree managing directors of a Dutch company to be held liable. On 17 February 2017, the Dutch Supreme Court confirmed that a second-degree managing director may be held jointly and severally liable in all cases of first-degree director liability. This now explicitly includes liability in tort. It is up to the second-degree managing director to disprove this liability.
Members of Parliament propose new legislation introducing a central register of shareholders
This legislative proposal introduces a register to centrally and digitally store information on shareholders, pledgees and usufructuaries of Dutch private companies with limited liability (BVs) and unlisted public companies (NVs). You may have heard of this plan before, since this is already the third proposal to this effect.
Doing Business 2017
We are pleased to share with you Baker McKenzie's new ''Doing Business in the Netherlands 2017'', a highly popular reference guide which describes the legal and fiscal environment of the Netherlands and the rules and regulations that companies must consider when doing business here. It covers a wide array of topics, such as the main aspects of tax law, corporate law, real estate law, employment law, energy law and many other legal issues and regulations of relevance.