Turbo liquidation BV
The Accelerated Dissolution ‘Turboliquidation’
We dissolve your dutch BV within 5 business days
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Under Dutch law, there are two ways of liquidating Dutch private limited liability companies (or BV’s’)that is by applying 1) the normal liquidation procedure or 2 ) the accelerated liquidation procedure. The ‘Turboliquidatie’ is loosely translated as an Accelerated Dissolution or winding down, of a limited liability company (BV). A regular dissolution of a Dutch BV takes at least 2 months. The accelerated version is in a shorter amount of time.
The accelerated version has an important condition, namely that the balance sheet is zero or close to zero on the liability and asset side. This is usually the case if the BV has not been active (dormant), no liabilities have been incurred during its lifetime or debt has been repaid. Common case is that the BV never came to fruition. If your BV has been dormant and will remain so it is best to dissolve the BV via an accelerated dissolution if the previous condition is met.
With our digital services we keep overhead low and help you wind down your BV efficiently and effectively for a fixed price.
The advantages of an accelerated dissolution
Regardless whether a BV is active or inactive, the books and records should be kept and updated annually. This effort requires time, resources and continuous bookkeeping. The bookkeeping includes financials statements, records of shareholder meetings, tax filings and other administration tasks. Most importantly the financial statements must be published with the Chamber of Commerce, annually. The costs and benefits of having a BV must be closely balanced and assessed. If the BV is inactive, the costs usually far outweigh the benefits. In this case it might be worth considering to liquidate the BV.
For an inactive BV with no assets and no liabilities, the fastest and most cost efficient route is the accelerated dissolution or liquidation. The liquidation can be achieved within 5 working days with our personal service. The normal liquidation procedure takes a minimum of 2,5 months.
If the BV does have assets, we recommend that you either sell, transfer them to another person or entity depending on the type of asset. This should be done before applying the accelerated dissolution. The alternative route is the normal liquidation procedure if there are assets and/or liabilities. Dutch Law states that a BV with liabilities and no assets can be dissolved. There may be liabilities, however, caution is required if there are third party creditors. Beware not to prejudice or disadvantage creditors. Rather find a solution together with your creditors.
Costs of dissolving a BV
We apply a fixed fee for an accelerated liquidation or the normal liquidation. The price for the accelerated (turbo) liquidation of a private company starts at € 249 excluding VAT. We quote our fees in advance. No costs in arrears, we believe in transparency, speed and clarity. Our experts are happy to help and support when necessary. Liquidating a BV can be achieved without a notary or a lawyer as long as you settle all liabilities and Assets as allowed under Dutch law.
If multiple BV’s need to be Liquidated we apply a pricing scale (the cost per BV goes down gradually). Our offer is a 100% money-back guarantee, we strongly believe in the quality of our service.
Do’s and Don’ts of liquidating a BV
An accelerated dissolution can’t always take place. Such is the case if there are assets on the balance sheet of the BV. Let’s deepdive into the different type of assets that could possibly go unnoticed as assets.
- The BV should not have any claims or receivables outstanding. These receivables also include the shareholder(s) who might have borrowed money from the BV. These are considered assets as well.
- A tax rebate or return is another form of assets which is often forgotten.
- Assets such as office equipment, stock, machines should be sold or transferred to another entity (consult your fiscal lawyer) before liquidating the BV. In this case you can diligently work towards an accelerated liquidation of the BV. If there are assets or income that can only be redistributed by a curator then an accelerated dissolution is not possible.
- The net equity of the BV, formed by its share capital, is an asset and should be zero or there should be losses or negative net equity to offset this asset.
- The BV should ideally not have any debt or liabilities. If you decide to dissolve the BV with debt anyways, the board risks being held personally liable by the creditors. The creditor(s) or other stakeholder(s) can turn around the dissolution in a court of law if they deem to have unpaid claims on the BV. There is also a possibility that the BV can be declared bankrupt if it has stopped the repayment of debts. In the event of a bankruptcy, the curator may also hold the board personally liable for the deficit during the bankruptcy proceedings if the administrative obligation has not been met or the annual financial accounts have not been published in time with the Chamber of Commerce.
Can you apply the accelerated procedure if you have assets? Yes, however you will need dispose of the assets first, this process must be done cautiously in order not to prejudice or disadvantage andy creditors (if any). Consult our experts when in doubt. Request an intake, no strings attached.
Other matters to take into consideration
You do not want to run the risks of being held personally liable for not properly following the conditions and steps in liquidating a BV. The problems usually arise if the BV has already been dissolved and the BVs’ obligations have been disregarded. It is of importance that the BV no longer has obligations to other companies or persons. if you want to apply the accelerated dissolution, take the following into account:
- The obligation to prepare annual financial statements for the last full financial year. For example, if you terminate the BV in 2020, you still need to prepare the annual accounts of 2019.
- A custodian of the books and records will need to be appointed. This person is obligated to keep the BV’s books and records for at least 7 years. Often this is the sole director and/or shareholder. It could be anyone else for example, accountant or legal council, if appointed.
- Ensure that current subscriptions, insurances, memberships, contracts and permits are terminated, canceled or transferred and paid for before dissolving the BV(s).
- All corporate bank accounts must be closed before or right after you have closed the BV(s).
More information about the laws and regulations surrounding an accelerated dissolution can be found in Book 2, Article 19 of the Civil Code. Are you unsure that you meet the above requirements and you want to apply an accelerated dissolution? Please contact opheffen-bv.nl. We are happy to help you, liquidate your BV.
The advantages of Opheffen-bv.nl
- Fixed price:
all in price, no surprises
- Fast service:
we start within 24 hours of retaining our services
Our team has specialised in liquidating limited liability companies for more than 15 years.
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