The Dutch American Friendship Treaty (also known as the DAFT), is a treaty between the US and the Netherlands which was signed in 1956. The goal of the Dutch American Friendship Treaty is to promote and enable trade and commerce relations between the two counties. For immigration purposes the DAFT enables U.S. entrepreneurs to obtain a residence permit fairly easily. As a result of the DAFT, it is significantly easier for American entrepreneurs to get a residence permit as an entrepreneur.
Entrepreneurs from other countries than the U.S. need to show by means of a point system that their presence serves a real Dutch Economic interest. In practice this proves for many to be very difficult and brings along a lot of documentation for these applicants. Furthermore these application procedures generally tend to take up much time. Unlike entrepreneurs from other countries for U.S. entrepreneurs there are just a few conditions for obtaining a residence permit. The main conditions for residence under the DAFT, are:
• Registration in the commercial register of the Dutch Chamber of Commerce.
• Investment of substantial capital amounting to € 4,500 in their own company.
• Opening balance and if it is not present, any statement or forecast, prepared by an approved auditor or an authorized financial adviser.
Even though there are relatively few admission requirements for an approval under the DAFT experience has shown that for many applicants it is very difficult to meet conditions for a quick and efficient approval, such registration in the municipal registry. Therefore professional legal help during the application is not a superflous luxury. Making the right choice in which form the business is set up in the beginning (sole proprietorship or LLC) can prove to be advantages from not only an immigration point of view but also may have significant fiscal advantages.
Over the years our firm has built up extensive experience in obtaining residence permits under the Dutch American Friendship Treaty for our US clients. We can honestly say that we have a 100% success ratio in this area. Not only will we handle the entire application procedure for you, we will navigate you through the Dutch (bureaucracy) system to help you fulfill all of the requirements as smoothly and as swiftly as possible. We can also help our clients in finding reliable tax advisors, accountants and notary’s.
If you have any questions about what your possibilities for residence under the DAFT are, please contact us. We are happy to assist you in submitting your application. Call (020 616 14 87) or email us (email@example.com) for more information.