Contain information on the business environment, incorporation, labor, and tax management of the Netherlands, a logistics base in Europe, etc
Present key check points when entering the European market, such as import regulations, preferential treatment systems, customs clearance, and Korea-EU FTA

The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yu Jeoung-yeol) published the"2024 Netherlands Investment Guide" to help Korean companies hoping to enter the European market via the Netherlands.

As the Netherlands is geographically located in the center of Europe, it serves as a logistics hub for Europe and many Korean companies also use the Netherlands as their base for entering the European market. In particular, Rotterdam Port - the largest port in Europe, recorded 13.44 million TEUs last year-is well equipped with the inland transportation and offshore transportation system. In addition, it has a high English proficiency rate and excellent business environment, and advanced industries such as IT, life sciences, and energy, which raise the expectation for synergy effects through technical cooperation with Korean companies.

The guide covers: Dutch/European business environment; establishment of a corporation; customs clearance; HR and labor management methods, a must-know in order to expand into the European market. It also provides detailed standards and various examples of: Korea-EU FTA; EU Carbon Border Adjustment Mechanism (CBAM); and regulations on organic products which need to be checked when entering Europe based in the Netherlands.

In particular, to expand investment attraction in the Netherlands, the report also contains details on the Dutch Innovation box, which includes withholding tax credits for R&D personnel; VAT payment deferment system, which allows deferring payment until the date of VAT filing; 30% tax exemption for foreign workers; and the Authorized Economic Operator (AEO) to simplify customs clearance.

Kim Hyun-chul, head of KORTA's European regional headquarters, said that "the Netherlands is No. 1 FDI destination in Europe and No. 2 in the world only after the U.S. as of the first quarter of this year, following 2023, and is an important business partner as Korea's fifth-largest trading partner." adding that "I hope this guide will serve as a useful compass for our companies when entering the Netherlands."

The guidebook will be available in PDF file format from September 3 on the KOTRA Overseas Market News website (dream.kotra.or.kr ).



Source : Invest KOREA (2024.09.02.)