BV Incorporation Process: Notary, KVK & Bank Account

Key Takeaways

• Incorporating a BV requires a notary — you cannot do it at the KVK alone.
• Total setup costs range from €500 to €3,000+, depending on the notary and complexity.
• The entire process takes 1–3 weeks from first notary meeting to full registration.
• You need a business bank account — most banks require an appointment and KYC documentation.
• If you plan a holding structure, set up both the holding BV and operating BV at the same time to save costs.

Overview of the Process

Step 1: Preparation

Before contacting a notary, decide on:

Company Name

• Must include "B.V." or "Besloten Vennootschap" in the name
• Check the KVK trade register (kvk.nl) to verify your desired name is not already in use
• The name does not need to be unique (unlike trademarks), but having a distinctive name is practical
• You can register trade names (handelsnamen) that differ from the legal name

Structure

Decide whether you want:

• Single BV — simpler and cheaper, but less protection
• Holding + Operating BV — standard structure for liability protection and tax planning

If you choose a holding structure, both BVs can be incorporated simultaneously by the same notary (often at a discount).

Documents to Prepare

• Valid passport or EU ID card
• BSN (burgerservicenummer)
• Proof of address (recent utility bill or bank statement)
• If you are a non-EU resident: valid residence permit
• Business plan (not legally required, but some notaries ask for a summary)

Step 2: Choose a Notary

All BV incorporations must go through a notary (notaris). Prices and service levels vary significantly:

What the Notary Does

• Verifies your identity and legal capacity
• Drafts the akte van oprichting (deed of incorporation), which includes the statuten (articles of association)
• Registers the BV with the KVK
• Ensures compliance with Dutch corporate law

Step 3: Articles of Association (Statuten)

The statuten are the BV's constitution. They define:

• Company name and registered office (statutaire zetel)
• Purpose (doel) — describe broadly to avoid needing amendments later (e.g., "management consulting and related activities" rather than "IT consulting")
• Share capital — number of shares and nominal value (commonly 100 shares at €1 each)
• Board composition — who can be a director, how directors are appointed and dismissed
• Share transfer restrictions — BV shares are not freely transferable (aanbiedingsregeling — offer arrangement)
• Decision-making — voting rights, quorum requirements, shareholder resolutions
• Profit distribution — who decides and what rules apply

Step 4: Sign the Deed of Incorporation

On signing day:

1. Visit the notary's office with your passport/ID
2. The notary reads the essential parts of the deed aloud (legal requirement)
3. You sign the deed
4. The BV is legally incorporated from this moment
5. You can already start operating as a BV "in oprichting" (i.o.) before the KVK registration is complete

Step 5: KVK Registration

The notary registers the BV with the KVK electronically. You receive:

• KVK number (Kamer van Koophandel number) — your company's registration number
• RSIN (Rechtspersonen en Samenwerkingsverbanden Informatienummer) — used for tax purposes
• Trade register extract (uittreksel)

The KVK registration is typically completed within 1–3 business days after the notary files.

Step 6: Open a Business Bank Account

A BV must have its own bank account. You cannot use your personal bank account for BV transactions.

Choosing a Bank

What Banks Require

• KVK extract (uittreksel)
• Copy of the deed of incorporation
• Passport/ID of the director(s)
• Proof of address
• Description of business activities
• Some banks require a brief business plan or projected revenue

Depositing Share Capital

After opening the account, deposit the share capital (minimum €0.01, typically €100 or more). The bank provides a beschrijvingsbrief (description letter) confirming the deposit, which the notary may need.

Step 7: Receive Tax Numbers

After KVK registration, the Belastingdienst automatically sends:

• BTW number (omzetbelastingnummer) — for VAT
• Loonheffingennummer — for payroll tax (needed for your DGA salary)
• VPB number — for corporate income tax

These arrive by post within 2–4 weeks. You can also find some of these through the Belastingdienst's online portal (Mijn Belastingdienst Zakelijk).

After Incorporation: First Steps

Once your BV is fully set up:

1. Set up payroll for your DGA salary — you can use a payroll service (salarisadministratie) or ask your accountant
2. Register for VAT if the Belastingdienst has not done so automatically
3. Hire an accountant — a BV requires professional accounts preparation and filing. Budget €1,500–€4,000/year for a small BV
4. Set up your administration — choose accounting software (Exact Online, Moneybird, Xero, etc.)
5. Consider insurance — D&O insurance (bestuurdersaansprakelijkheidsverzekering) and professional liability insurance

Total Costs Summary

Total first-year cost: approximately €3,000–€8,000, depending on structure and service providers.

Common Mistakes

1. Not setting up a holding structure — Adding a holding BV later costs an additional notary fee and may trigger tax consequences. Set it up from the start if you are serious about your business.
2. Choosing the cheapest notary for a complex structure — For multi-founder setups or holding structures, pay for a corporate law specialist. Errors in the statuten are expensive to fix.
3. Delaying the bank account — Start the bank application process during the notary phase. Banks are slow and this is often the bottleneck.
4. Not appointing an accountant early — Your BV has payroll and reporting obligations from day one. Have an accountant lined up before incorporation.

What to Read Next

• BV (Private Limited Company) — Full BV overview
• DGA Rules — Your obligations as director-major shareholder
• Corporate Income Tax — VPB rates and rules
• Gebruikelijk Loon — Setting your mandatory minimum salary