Articles — Posted on 01-06-2023

House of Representatives adopts bill for digital establishment of a private limited company

The House of Representatives passed the bill for digitally establishing a private limited company (DOBV) this morning. The bill will now go to the Senate. If the Senate approves it, the DOBV is expected to be implemented on January 1, 2024.

Until recently, the bill was scheduled for substantive plenary debate in the House of Representatives. It was postponed several times and finally passed this morning as a formality. This is a significant milestone in the legislative process. We now await the Senate's approval.

Digital notarial deed
According to the European directive to be implemented, its implementation, after a one-year postponement, should have taken place by August 1, 2022. The implementing legislation allows EU residents to digitally establish a private limited company (BV) through a digital notarial deed, with digital identification and digital signature at the highest levels of reliability. The digital signing platform developed by the Royal Netherlands Bank for Enterprises (KNB) is already ready for use and can be used from the implementation date.

Source: Royal Dutch Association of Civil-Law Notaries

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