Brexit and your business operations

What does Brexit mean for your business operations, contracts, annual reporting, employees - and your international trade? We would be delighted to advise you on this.

Diana Gunckel

Attorney at law

+31 6 830 236 65 Call me Our Specialists

English companies in the Netherlands, post-Brexit

In principle, an English company may do business in the Netherlands, post-Brexit. However, certain special rules apply in the Netherlands for non-EU companies – a category that now includes English companies.
Directors of an English limited company registered in the Netherlands must check whether the company formally qualifies as a foreign company. If it does, its directors should immediately register this information in the Trade Register. It is also advisable for directors to have the directors’ and officers’ liability insurance cover checked and adjusted for this situation.

Brexit: end of Dutch annual account exemptions for English company groups

As a result of Brexit, a new annual accounts regime applies to groups with an English parent company and Dutch subsidiaries. This applies to use of group exemptions and consolidation exemptions, and also when a Dutch subsidiary company applies its group’s English accounting standards.

The amended rules apply to financial years starting on 1 January 2021 or later. The amended regime will have to be considered when drawing up the annual accounts of an English/Dutch group, and in any compulsory audit at the Dutch level, as well as, for example, in the amended decision-making process.
The most urgent action required is withdrawal of filed 403 declarations.