When you have chosen to do business in the Netherlands through a Dutch company you should be aware that you have to prepare and file financial statements each year. This is to provide third parties, such as creditors, with information on the financial situation of your company.

It is important that the accounting regulations with respect to these financial statements are accurately taken into account as they could have a big impact on the personal liability of the boardmembers of your company. In practice you often see that the annual accounts are not timely filed with the Dutch Trade Register or that the accounting provisions are not followed. The consequences thereof can be significant and often not known to the board members.

It is therefore why we recommend that when you hire an accounting service provider you insist on compliance with the Dutch accounting regulations. Meaning in any case that annual accounts are timely filed.