Liability of the different legal forms

Do you want a large or small financial risk?

There are two types of legal form:

• Legal forms which do not involve a legal person. Your entire personal assets are liable for obligations.
  • Sole trader
  • Vennootschap Onder Firma (VOF) or general partnership
  • Commanditaire Vennootschap (CV) for limited partnership
  • Partnership 
  
  
• Legal forms which do involve a legal person: you are liable for the amounts that you have invested. Like an individual, a legal form with a legal person has independent rights and obligations.
  • Besloten Vennootschap (BV) or limited liability private company
  • Vereniging or association
  • Stichting or foundation 

The freelancer occupies a special position. It should also be noted that the Naamloze Vennootschap (NV) or public limited company form is rarely taken by start-up companies.