For students who are dreaming of becoming successful entrepreneurs while pursuing their studies in the Netherlands, it is imperative to be aware of the procedures that need to be followed. The Dutch government provides a beneficial environment for student entrepreneurs prioritizing both aspects of business and academics. An entrepreneurial student in the Netherlands can graduate while simultaneously running a business. The particular university’s Centre of Entrepreneurship can be approached for assistance. Overall the Dutch government’s rules for student entrepreneurs are the same as those for other entrepreneurs. The former might have a partial reduction in study grants and loans, and can also use government schemes that aid student entrepreneurs.
The Netherlands residency requirement
If you are a resident of the Netherlands or an EU, EEA, or Swiss resident, you can start a business in the Netherlands without needing to obtain a special residence permit.
For people from other countries around the globe, a special permit is required if you are planning to set up your business in the Netherlands. If you are from outside the EU and EEA, you will be required to apply for a temporary and permanent residence permit. In the case of innovative startups, you will need a startup visa which is valid for one year and will require you to produce an innovative service or product under the supervision of an experienced facilitator.
Criteria for setting up a business in the Netherlands
1) As mentioned above, the criterion of residence is of foremost importance for setting up a business in the Netherlands.
2) Formulate an efficient and precise business plan which will outline the overall vision for starting a business in the Netherlands. Plan the products, services, finance, advertising, etc., to make an effective impact.
3) If you are under the legal age which is 18 years, you will require permission from your legal guardians to own a business. If you want to do forward with your business without permission from your guardians, you can apply for limited legal capacity to the subdistrict court (you will have to be 16+ to do this).
4) You will be required to register your business company with the Netherlands Chamber of Commerce (Kamer van Koophandel). A one-time fee will have to be paid for this purpose. Your details will then be forwarded by the Netherlands Chamber of Commerce to the Dutch Tax and Customs Administration (Belastingdienst). You will then be provided with a VAT number and a VAT-ID.
Things to remember
1) As a student starting a business in the Netherlands, you can graduate or do an internship at your own company.
2) Parents or guardians of a minor starting a business may receive child benefits for them. The additional income made from the company will have no consequences on the child’s benefit.
3) You can get student finance for study-related expenses. Your study-related expenses for which you receive student finance are not deductible as operating costs.
Intercompany Solutions can get you opportunities in setting up businesses in the Netherlands.