Re:Why It’s Hard for Startups to Create Wealth in Europe
by AllegedAlec on Wednesday October 02, 2019 @07:19AM
(#21135207)
Which doesn't exist in the Netherlands. As a BV (the Dutch equivalent of a GmBH), you're obligated to have a CEO-equivalent person, which you're by law forced to pay a market-conform salary, or, even if you're not doing this, you are still forced to pay taxes as though you did.
[ Parent
| on HN ]
Re:Why It’s Hard for Startups to Create Wealth in Europe
by vekker on Wednesday October 02, 2019 @07:31AM
(#21135273)
You have other options, like VOF or CV, if you have funding constraints.
Here in Belgium there's the "starters-BVBA" which is the equivalent of the 1 euro GmbH. Yes, there's paperwork and some investment involved, but IMHO it's a myth that starting a company in Europe is a huge hassle.
Re:Why It’s Hard for Startups to Create Wealth in Europe
by AllegedAlec on Wednesday October 02, 2019 @07:43AM
(#21135356)
> You have other options, like VOF or CV, if you have funding constraints.
Which isn't a real option; VOFs and CVs do not have the financial and legal separation of you and the company that a BV has.
Re:Why It’s Hard for Startups to Create Wealth in Europe
by vekker on Thursday October 03, 2019 @05:11AM
(#21145030)
Do you really need that though? If revenue is not large enough to start a BV? You can still get insurance and separate bank accounts.
I did it before with a Dutch partner, we just started a VOF together. Our plan was to turn it into a BV once revenue reached a certain point (it never did, so we didn't... it was a side hustle).
Re:Why It’s Hard for Startups to Create Wealth in Europe
by himlion on Wednesday October 02, 2019 @09:27AM
(#21136154)
True in general, but as long as you don't have a lot of equity in your BV yet, you don't have to do it. The tax man won't force you to go broke paying yourself a Market-rate salary.