Want to start your own business in the Netherlands? From 1 January 2016, start-up entrepreneurs from outside the EU will be granted more time in the Netherlands to develop their idea from paper-plan to fully fledged business. Currently start-ups from outside the EU are granted one year to get their business going and growing, now it has effectively been extended to 3 years - subject to certain conditions.
The Dutch government announced the new regulations this week on its website. "The Netherlands has always been a country of entrepreneurs. They are the engine of our economy and a source of renewal and job creation, thereby making an important contribution to our economy," a government statement reads. The announcement has been welcomed by Wittenborg University that has since September this year been offering its IBA in Entrepreneurship & Small Business at its location in Amsterdam. Many non-EU students are currently in the programme.
It has been found that entrepreneurs often need more than one year to make their business grow. To prevent the investment made in and by "interesting start-ups" from being lost to the Dutch economy, they will now get 3 years to develop their business.
What are the conditions?
To make sure start-ups are well equipped, certain conditions apply for setting up a business in the Netherlands:
- Sufficient money to support yourself while living in the Netherlands
- An innovative product or service
- A step-by-step plan to develop your idea into a business
- Registration with the Dutch Chamber of Commerce (KVK)
In addition, to apply for a one-year temporary residence permit, applicants need to be sponsored by an experienced Dutch facilitator. After one year the permit can be extended. Applications can be submitted to the Dutch Immigration and Naturalisation Service (IND). The cost to process the application amounts to €307. More information on the conditions for start-ups can be found here.
by Anesca Smith