Taqa talks about opportunities in the Netherlands

With the benefit of over 80 international tax treaties however, the Netherlands offers a gateway for foreign investment.

These tax benefits combined with good corporate governance and investment protection have been a significant draw card for large numbers of international companies to set up their global or European headquarters in the Netherlands including the likes of Shell, Unilever, Tata, Sara Lee and Ikea as well as local companies such as Taqa and Sabic.

Having a Dutch holding company in place, these international businesses are able to limit their international tax liabilities and maximise the repatriation of profits.

With the UAE/Netherlands tax agreement in front of the Dutch house of representatives this week, now is the time for UAE companies to be looking at the opportunities offered.

Simmons & Simmons in conjunction with the Netherlands Foreign Investment Agency and the Embassy of the Kingdom of the Netherlands hosted a closed door session today to look at the tax benefits for UAE companies of establishing operations in the Netherlands or use the Netherlands as a gateway for investments elsewhere.

Discussions covered opportunities available and the experience of those who have already set up there with a case study from Mr. Klaus Reinisch, Global Head of Midstream at the Abu Dhabi National Energy Company.

The session was opened by the Dutch Ambassador H.E. Gilles Beschoor Plug. He commented: "The Netherlands offers outstanding investment opportunities for international businesses, both for direct investment and as a conduit for foreign investment. The ratification of the UAE/Netherlands tax treaty will offer further opportunities for investment between the two countries."

Patrick Polman, Director for the Gulf region of the Netherlands Foreign Investment Agency said:
"The Netherlands as a business destination has a lot to offer international companies. Not only are we in an excellent location in the heart of Europe but we have strong infrastructure, leading innovators and a dynamic workforce on our doorstep to help businesses thrive. The NFIA has assisted countless businesses start up their operations there and the proof is in the long list of foreign companies who now call the Netherlands home."

Peter Flipsen of Simmons & Simmons commented:

"The tax benefits are undeniable. Cayman has been a favoured destination for foreign companies for many years but we are seeing a move away from this as banks and other investors are shying away from being involved in 'tax haven' jurisdictions. The Netherlands proves the same flexibility but with the added benefits of outstanding corporate governance, which in the current market is something investors will be looking for."