{"id":4606,"date":"2020-07-27T08:39:00","date_gmt":"2020-07-27T08:39:00","guid":{"rendered":"https:\/\/wwwstaging.keesdeboekhouder.nl\/een-vof-begint-met-een-goed-idee-en-nog-betere-afspraken\/"},"modified":"2024-10-11T13:20:33","modified_gmt":"2024-10-11T13:20:33","slug":"a-vof-starts-with-a-good-concept-and-even-better-agreements","status":"publish","type":"post","link":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/a-vof-starts-with-a-good-concept-and-even-better-agreements\/","title":{"rendered":"A \u2018vof\u2019 starts with a good concept and even better agreements"},"content":{"rendered":"\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

You and your friends have this genius concept. Or you\u2019re doing some commissions with someone and it\u2019s starting to evolve in a steady collaboration. When these things get more serious, there\u2019s a big chance you\u2019ll found a partnership \u2018vennootschap onder firma\u2019(vof).<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

A vof is a legal status for a company when there are two or more owners at play. According to the law a vof is not a legal entity (so it is a legal status, but not a legal entity, check). This means owners can arrange their own agreements about their collaboration and in case of debt every owner is privately accountable regardless of who caused the debt. So it\u2019s important for owners to take into account the following before they eagerly start doing business:<\/p>

Document all agreements
<\/strong>To make a collaboration succeed, friendship and trust alone are not enough. Making well defined agreements and documenting them contractually will prevent most future misunderstandings. Agreements about for instance: the deposit of assets, tasks and activities, the powers and rewards of each owner, duration of the collaboration, rules for early withdraw, input of new business partners, illness, incapacity for work and insurances. There are a lot of matters on which you can disagree. Try to talk through all relevant scenarios with your co-owners and make clear agreements. You\u2019re not obliged to put these in a contract, but it\u2019s really recommended you do so.<\/p>

Organise your money
<\/strong>In the vof there is no difference between private assets and company assets. In theory it doesn\u2019t matter who pays what, at what time regarding the vof. The tax authorities determine the amount of taxes to be paid by the profit you make. It\u2019s useful to open a business bank account for business transactions so every owner can keep track of the money. This way everyone has insight in the flow of funds and no one will be unpleasantly surprised financially.<\/p><\/div><\/div><\/div><\/div><\/section>

\"Een<\/p><\/div><\/div><\/div><\/div><\/section>

Count your profit?
<\/strong>In a vof there are no salaries. You can extract monthly amounts to live from. This is called a private withdrawal. Because running a business is an uncertain way of making money, it\u2019s usually not possible to withdrawal a steady figure after one month. So make an estimate of your profit to determine the amount you can withdrawal from your company each month.<\/p>

About private liability
<\/strong>A big investment followed by a global pandemic can get your company in to trouble. A creditor will also not care about whose idea the investment was. He or she has the right to come knocking for money at each of the owners doors. So it\u2019s recommended to not make larger investments than your bank balance will allow you to. Also make agreements on who\u2019s authorized to do investments and how to handle business financially concerning creditors. Do take in to account that lawfully every owner is privately liable, regardless of the agreements you make.<\/p>

Finally
<\/strong>Although it\u2019s an odd chance, there is a possibility that someone wants to withdraw from the company early or one of the owners unexpectedly dies. In both cases the vof will be legally dissolved unless you\u2019ve made agreements about that. Often times a vof can continue with a smaller group of associates. When there\u2019s only one associate left it\u2019s possible to continue the vof as a sole proprietorship. To conclude: A succssfull vof will stand or fall on the quality of it\u2019s concept and the agreements made.\u201d<\/p><\/div><\/div><\/div><\/div><\/section><\/div><\/div><\/div><\/div><\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

You and your friends have this genius concept. Or you\u2019re doing some commissions with someone and it\u2019s starting to evolve in a steady collaboration. When these things get more serious, there\u2019s a big chance you\u2019ll found a partnership \u2018vennootschap onder firma\u2019(vof). A vof is a legal status for a company when there are two or…<\/p>\n","protected":false},"author":3,"featured_media":3703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-4606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-keep-up-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/posts\/4606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/comments?post=4606"}],"version-history":[{"count":4,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/posts\/4606\/revisions"}],"predecessor-version":[{"id":4610,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/posts\/4606\/revisions\/4610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/media\/3703"}],"wp:attachment":[{"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/media?parent=4606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/categories?post=4606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wwwstaging.keesdeboekhouder.nl\/en\/wp-json\/wp\/v2\/tags?post=4606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}