- 9 May 2023
- Edited 28 Feb 2023
- 1 min
KVK manages several registers. These registers contain information about a business or societal activity, the person who owns the business, its branches, and its officials. Entrepreneurs find reassurance and security in their digital and economic dealings through kvk.nl. KVK makes it easier for business owners: they only have to report their details once. KVK constantly weighs the benefits and risks when it comes to ease and prevention of fraud on the one hand, and privacy on the other.
The Business Register
All legal entities and businesses in the Netherlands are registered in the Business Register. The register is in constant flux: new registrations, changes, deregistrations are constantly being processed. This makes the Business Register a crucial source of reliable information for businesses and governmental bodies. The Business Register is linked to the Dutch key registers and several European registers.
The Business Register is designed for optimal linking to other registers and can be used as the basis for other registrations. Its usefulness for entrepreneurs is evident: the basic details are already in the system, and need not be entered repeatedly.
Under Dutch law, all bvs, nvs, cooperatives, and onderlinge waarborgmaatschappijen (mutual insurance societies) are required to file their financial annual statements with KVK for every financial year. This information must be publicly available to everybody who is interested. These financial statements are directly linked to the Business Register registration.
Legal Entity Identifier (LEI)
A LEI is a unique code for tracking transactions on financial markets. This makes the financial markets more transparent, minimises risks, and protects investors' interests. A LEI is required for all legal entities engaging in buying and selling on the stock exchange. These rules are part of MiFID II, an initiative aimed at increasing the integrity of financial markets, developed after the financial crisis of 2008.
You can apply for a LEI anywhere in the world, as long as you do so at a recognised Local Operating Unit (LOU). KVK is LOU for the Netherlands. The advantage of applying for a LEI at KVK is the Business Register link. All company details are already known.
Ultimate Beneficial Owners (UBOs) and the UBO register
EU regulations 2015/849 and 2018/843 make it mandatory for every EU member state to establish and manage a UBO register. UBOs (Ultimate Beneficial Owners) are the persons actually managing an organisation: the ultimate stakeholders.
Many organisations are required to register their UBOs since 27 September 2020. The register has to offer accurate and up-to-date information about the ultimate stakeholders of the organisation. This is how the register helps to prevent money laundering and financing of terrorism,as well as tracking down criminal activities. Financial institutions have to use the UBO registrer to find out who the UBO is, before they provide a service.
UBO trust register
Trustees must register their trust or comparable legal construction and their UBOs in the UBO trust (in Dutch). By offering this transparency, the register helps to prevent money laundering and financing of terrorism,as well as tracking down criminal activities. The UBO trust register stems from European legislation. KVK manages the UBO trust register on behalf of the ministries of Finance and Justice and Safety.