VOF - General partnership A vennootschap onder firma, or general partnership, is a business that is run by two or more business partners. A defining aspect of the VOF is that every partner contributes something to the business, whether it’s labour, capital, assets, goodwill or knowledge. This model is often used by spouses or life partners who are also partners in business.It’s important to understand the joint liability of a VOF: if your business partner makes a mistake that results in debt then you will also be held financially responsible.In a VOF it’s also necessary to create "separate capital" where business capital contributed by partners is held separately from private capital. For instance in a separate bank account. The VOF contractIt’s not legally compulsory to sign a partnership contract when setting up a VOF, however it is strongly advised to avoid misunderstandings between partners. This can be done either independently or via a notary. The partnership contract usually sets out: The name of the VOF. The business aim. The contributions of each partner. Profit distribution and offset of losses. Allocation of powers. Arrangements for illness or holidays. The VOF in a nutshell Establishment: free (small KvK fee) / partnership contract Capital required: none Governance: partners Liability: all partners privately 100% Social security: no sickness or unemployment benefits Taxation: BTW / income tax / payroll tax (for employees) Tax breaks: yes if requirements are met Facebook Twitter What's up Messenger Email Read also Business structures Want to start your business? Info about Dutch business structures including Eenmanszaak, Maatschap, VOF, CV, BV, NV, Stichting, Vereniging and Coöperatie. read more Becoming an entrepreneur in the Netherlands Becoming an expat entrepreneur in the Netherlands is easy due to the local startup climate. See how to start your own business! read more Dutch tax services & advisors Looking for taxation advice and services in the Netherlands? Check out our list of Dutch tax advisors, consultants, accountants and tax services for expats. read more Dutch Chamber of Commerce (KvK) Information and contact details of KvK (Dutch Chamber of Commerce, or Kamer van Koophandel). read more Official issues There are some issues expats in the Netherlands need to deal with e.g. permits, visas, citizenship, passport, registration, BSN, DigiD, banking and more. read more Working in the Netherlands Starting your own business? Here's what you need to know about the working environment in the Netherlands. read more
