Start a Fund for Joint Account (FGR) in the Netherlands June 4, 2017 Foreign investors interested in how to start a fund in the Netherlands can invest here by opening a fund for joint account. Our specialists in Dutch company formation will help you incorporate a company in the Netherlands as soon as possible. Whether you already have an ABN AMRO account or not, opening a joint account with us is easy. Ideally, you and your soon-to-be-ex-spouse are still on speaking terms and can agree to close the joint account, split the funds, and open new accounts in your own names. You can hold mutual fund folios either singly or jointly. These would then have to be included in the UBO register for trusts on a similar basis. Only the name, birth month, birth year, domicile, nationality and type and size of the beneficial interest are accessible by the public through the internet. How to Purchase Shares of a Dutch Company, Rules for AIF Managers in the Netherlands, Regulations on Investment Vehicles in the Netherlands, Free Allowance for Extraterritorial Costs - the 30% Ruling, Open a Merchant Account in the Netherlands, Yacht/Boat Registration in the Netherlands, Change Sole Proprietorship into General Partnership. Joint accounts are commonly opened by close relatives (such as by a married couple) or by business partners, but it can be used in other circumstances, such as by a club committee. Start a Dutch LLC or a Sole Proprietorship? The first situation is that the beneficiary is subject to a disproportionate risk of fraud, kidnap, blackmail, harassment, violence or intimidation through the publication of this information in the register. - the name and the registered address of the Dutch fund for joint account; - the purpose of the FGR and the conditions for admitting new participants; - the transferability requirements imposed on participants to the FGR; - the contribution obligations of the participants and the allocation of the results of the FGR; - how the manager and the depositary of the fund can be replaced; - the dissolution and liquidation conditions of the Dutch fund for joint account. This EU directive requires the EU member states to provide for a UBO register for trusts and this UBO register for trusts, amongst others, has to include each beneficiary of the trust and, amongst others, the name, birthdate, birthplace, address, fiscal number and type and size of the beneficial interest of the beneficiary. You can read more about this in the attached response to the legislative proposal which we submitted on Thursday 14 May 2020 to the legislator. In most situations, the structure of the fund imposes the governance requirements. The vehicle, known in Dutch asfondsen von gemene rekening – FGR, is established as a mutual fundwhich, under the provisions of the Dutch investment legislation, provides a high level of flexibility for the investors. The Netherlands has consequently notified the European Commission that it regards the “Fund” as a similar legal structure as the trust. You can find our Privacy Statement here: Legislative proposal on balanced gender diversity at the top of large companies, 10 things you need to know about the EU Crowdfunding Regulation ((EU) 2020/1503), WHOA will enter into force on January 1, 2021, VCL Luxembourg Flash Tax News – October 2020, Legislative proposal on Private Homologation Agreement was passed by the Dutch Senate, Private Homologation Agreement for the prevention of bankruptcy, NOW 2.0 – details and practical information, https://vancampenliem.com/privacy-statement/. In the fifth EU anti-money laundering directive, the European Commission called for the EU member states to notify it of any legal structures that are similar to the trust. Step 1. Joint Account: A joint account is a bank or brokerage account that is shared between two or more individuals. The fund for joint account, or FGR, is a structure used to register an investment fund in the Netherlands. 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