Legislative Proposal Modernising Partnerships
If entrepreneurs or professionals wish to co-operate in the Netherlands, the most basic and convenient way of doing so is to co-operate in a partnership.
There are three kinds of partnership:
A partnership for professionals, called a "maatschap";
A general partnership for companies, called "vennootschap onder firma";
The limited partnership for companies with both silent and general partners, called a "commanditaire vennootschap".
The legislative proposal of the ministery
The ministry has now announced to modernise partnership laws in the Netherlands. The legislative proposal contains the following main elements:
There will no longer be a difference between professionals exercising a profession within the partnership ("maatschap") and persons running a business with the partnership ("vennootschap onder firma"). All partners in a partnership will be jointly and severally liable for debts of the partnership;
Partner entry and partner exit can be arranged in the partnership agreement, without having to sign a new partnership agreement;
All partnerships will be corporations and will be able to acquire ownership of goods.
We expect that this legislative proposal will become legislation in the near future. For more information on the status of the proposal or for advice in creating a partnership in the Netherlands, please contact us.