A step-by-step plan for setting up a BV (12 simple steps)

Step 1: preparation of business plan

It is important that you make a clear business plan. This ensures that you have an overview of what you want with your BV, in what market this will be and how you will reach your goals. This plan is useful in your marketing and can be a useful tool to attract investors.

Step 2: Create your personal holding company

The saying among entrepreneurs is: one BV is no BV. A personal holding company is a company that owns shares in another company, Werk-BV. You own the shares in your personal holding company, and the holding company in turn owns the shares in the working BV. So you create two BVs. Read more about how you can, for example, pay less tax with your holding company and how you can give yourself a mortgage loan.

Step 3: set up your work BV

The actual business activities take place in the plant BV. The establishment of both the holding company and the working BV takes place through a notary. There are also many options for easily setting these up online.

Step 4: Arrange your registration with the Chamber of Commerce

After your work BV and holding company has been established, the notary will register both BVs with the Chamber of Commerce (KvK). More information about registering your BVs with the Chamber of Commerce can be found here.

Step 5: Open a corporate bank account

You open a corporate bank account to keep your personal and your company finances separate. Are you creating a holding structure? In that case, the holding company and the plant BV must both have separate bank accounts. To open this account, go to the bank of your choice with the Chamber of Commerce extract that you receive after registration.

Step 6: Send your letter to reduce your DGA salary

If you create a BV, you will quickly become the principal shareholder (DGA). The BV is obliged to pay DGA a minimum wage of € 47,000 per year. If you initially do not yet generate sufficient revenue for this, you can easily request a reduction in this salary by sending a letter to the Tax Administration, stating your desire for a reduction. You can easily find this letter online.

Step 7: Enter into the required contracts

Taxes need to know what your business structure is going to look like. You can easily fix this by entering into a few contracts. Are you not doing this? Then you risk hefty fines and further assessments. Think of an administration agreement or a current account agreement.

Step 8: Register this fire

To ensure that another company can not just steal your name, register your trademark. Registration alone with the Chamber of Commerce (KvK) is insufficient.

Step 9: Cover your risks

Almost every entrepreneur encounters unexpected legal issues when starting their business. The importance of good contracts, such as employment contracts, terms and conditions, and confidentiality agreements cannot be overemphasized.

Step 10: Set up your administration

It is important to keep track of your financial administration after you have incorporated your BV. Do not want to outsource this? Keep track of your income and expenses by, for example, using an online accounting program. Would you rather invest your time in developing your business? It does not have to be expensive to get the administration done.

Step 11: Take out the necessary insurance

Cover common risks such as long-term illness and accidents at work by purchasing insurance. Do you need to do business online? Also take a look at cybercrime insurance. With an insurance check, you will quickly find out what you need.

Step 12: Set up your internal processes

Think about how you will deal with certain unpleasant situations. What if a customer does not pay an invoice? How will you handle it if you have to fire an employee? How do you get financing? Identifying these issues early on will help you run a well-organized, successful business.

Leave a Comment