The Dutch government announces their plans to develop a new legal entity for social entrepreneurs: the BVm (maatschappelijke BV) in the summer of 2020. The regulation outline for the BVm was made available for public consultation on 9 March 2021. The internet consultation was open until the end of April 2021.
By introducing the BVm the Dutch Government wants to better organise and stimulate social entrepreneurship. The BVm will ensure better recognition and subsequently appreciation for the social character. This will support the social entrepreneurs to achieve their social mission. With regard to the business relations, this makes it clear that they are dealing with a company that puts social impact first.
Only social enterprises with a BV as legal form can convert to a BVm. This can only be done if the board of directors of the BV wishes to do so. Subsequently, the articles of association should meet the legal requirements of a BVm which should be declared in a notarial deed by a civil law notary. The status of the entity can be identified by using B.V.m or BVm.
We will keep you updated on the development of the proposed BVm.
In case you have any questions regarding the development of the new legal entity for social entrepreneurs or your corporate governance? Please contact us: