"It is good that DNB sees progress in the trust sector. According to the 'Outlook 2018', DNB is keen to continue its dialogue with the sector and Holland Quaestor is happy to continue the dialogue with DNB on behalf of its members. The fact that DNB writes...
He new cabinet is more stringent for the Dutch trust sector. Stricter rules are being introduced and the powers of supervisor De Nederlandsche Bank (DNB) are extended, according to statements in the coalition agreement. The ‘information position and detection...
Holland Quaestor, the professional association of the main trust offices in The Netherlands, applies stricter requirements for offices that are eligible for the quality mark. Partly due to this, almost a quarter of the members have left. Says association manager...
WHO WE ARE
Historically, The Netherlands has had an open economy and well-developed legal and tax system. This provides a sound basis for shaping complex (international) transactions. The professional services provided by lawyers, notaries, tax consultants and accountants are of the highest international level. In short, the Netherlands offers everything a company needs to conduct business successfully and sustainably. The trust sector offers its clients the opportunity to quickly develop activities in and via The Netherlands.
What our members offer
- The trust sector provides directly more than 2,500 jobs in the Netherlands.
- There are 127 market players in the Netherlands, with a total of 223 licences issued under the Act on the Supervision of Trust Offices (Wtt). Of these offices, 25 are HQ members, with a total of 95 Wtt licences.
- Seventeen of the largest twenty market players are HQ members.
- Members of Holland Quaestor represent more than 80% of the sector’s volume.
HQ promotes the continual professionalisation of its members from a social and economic perspective. To supplement the sector’s supervision, which is carried out by the Dutch Central Bank (DNB), and existing rules on administrative organisation and internal audit, HQ has established a code of conduct for its members.
Membership of HQ is not without its obligations. All members must meet the requirements of the independent quality inspection mark, issued by Stichting AQTO. Members must also dedicate themselves to continual professional development, permanent education and quality improvement within their organisation. They must be aware of their corporate social responsibility and take initiatives to secure a high quality, transparent service, now and in the future.
Code of conduct
1. Integrity: HQ members must conduct their activities adequately and with due diligence, subject to applicable legislation and regulation, and behave in accordance with the letter and the spirit of the law. In all their activities, they will not allow themselves to be influenced by improper business dealings; they are to take responsibility for their own actions and be answerable for their actions.
2. Independence: HQ members must exercise their activities independently so that they are not influenced improperly by third parties. Additionally, they should perform their activities in such a way that there is no conflict of personal or improper interests.
3. Reliability: In the performance of their duties, HQ members must try to comply with all agreements made. If this proves unexpectedly to be impossible, they should make this known to all interested parties. Knowledge and information made available to the HQ member must be applied in line with the purpose for which this information was provided.
4. Sustainability: HQ members should aim to foster long-term working relationships that apply socially responsible business practices as a guiding principle.
5. Professionalism: HQ members should always demand high standards of each other and in the implementation of their professional duties. Quality and customer orientation are primary goals.
What we stand for
HQ aspires to be a platform that all trust offices in the Netherlands can join. A platform where the members conduct open discussions about objectives, strategy, structure and culture.
The main aim of HQ is looking after the interests of its members and the economic continuity and development of the trust sector as a whole.
The strength of HQ lies in formulating quality criteria, standards and templates for the sector, such as e.g. the Regulation for ethical business practices.
What we see
In a world in which economies and markets are connected globally and trade and finances are fragmented, Holland Quaestor provides unity.
HQ connects and stimulates collaboration between all value chain partners, such as the Dutch Central Bank (DNB), Netherlands Authority for the Financial Markets (AFM), Ministry of Finance, Chamber of Commerce and Dutch Securities Institute (DSI). In this way, HQ wants to contribute to the quality of the services provided by its members and thus add value to the sector.
The vision of Holland Quaestor is to give its members a firm basis for providing a quality service.
The guiding principle is they are not influenced exclusively by self-interest in the performance of their activities, but that they also consider their (joint) responsibility for society as a whole. Therefore, our members do not engage with parties that may be considered untrustworthy.
This vision and the promising perspective have been set out in the 2015-2020 policy plan, categorised into the following four topics:
1. Engaging in ethical conduct
2. Building bridges with stakeholders
3. Organising HQ business operations
4. Participating in mutual relationships
The governing board directs and interprets strategy and policy, and it is responsible for achieving the results as set out in the annual plan. Each governing board member, as a portfolio holder, is responsible for one of the HQ committees. The governing board is HQ’s link with the outside world.
Jan van de Kolk MMC – Independent consultant (Chairman)
Vacancy (Vice Chairman)
Ewout Langemeijer – The Corpag Group (Secretary)
Gerben van den Berg – Pan-Invest B.V. (Treasurer)
Sara Douwes – Intertrust (Netherlands) B.V.
Rick van Dijk – Your Trust (Netherlands) B.V.
The Advisory Council supports the board with translating the strategy into policy.
The demands made on the trust sector’s professionals are justifiably high. Permanent education is therefore an intrinsic part of executing one’s professional duties. All members of HQ are expected to use their professional knowledge to set the sector’s standard. These efforts are rooted in an ongoing, balanced education programme and a continuous commitment of all members to contribute to this in active way.
Agenda HQ Academy events
|24 January 2018||Blockchain, the solution to which problems?||Vistra Amsterdam||4 PE|
|25 January 2018||Artificial Intelligence||Synechron Amsterdam||2 PE|
|6 February 2018||Blockchain, the solution to which problems?||Vistra Amsterdam||4 PE|
|8 February 2018||Axveco||Vistra Amsterdam||2 PE|
|8 March 2018||Actualiteiten: Wtt 2018, UBO register, etc.||Vistra Amsterdam||2 PE|
|15 March 2018||Tax Integrity Management
||PAO Leiden||5 PE|
|9 April 2018||Change Management & Early Warning Indicators||PAO Leiden||5 PE|
|9 May 2018||Current Affairs – Civic, Tax and Criminal Liability for Executives||PAO Leiden (register through PAO Leiden)||6 PE|
|15 May 2018||Workshop Integrity Dilemmas||Vistra Amsterdam||3 PE|
|24 May 2018||nternational Tax Disputes||PAO Leiden (register through PAO Leiden)||5 PE|
|13 June 2018||Behaviour and culture: the gaze of the external supervision holder||Villa Amalia in Baarn||4 PE|
|15 June 2018||Workshop Integrity Dilemmas||Vistra Amsterdam||3 PE|
Click here for detailed information on the sessions.
Multinationals wanting to base themselves in the Netherlands are naturally focused on their operations. They rely on a well-regulated trust sector to help them make the right choices when it comes to Dutch legislation and regulation. A trust office helps management organise all their administrative duties in a timely and accurate manner by providing them with a team of professionals, each one specialised in a different area of law or finance.
For a young professional looking to launch an international career, trust offices that are members of HQ provide a challenging environment. Starters can expect to build their career rapidly: they are the link between the client and their business service providers and they think along on the business operations of a client. This mainly relates to legal, accounting and compliance issues.
With an open mind, a group of young professionals is working on innovation within the sector. Under the name of Young Trust (YT), they advise the governing board of Holland Quaestor (HQ). In this way, they help the sector prepare for its new role in a changing landscape. YT offers low-threshold meetings that cover training, expertise and personal development with a focus on young professionals who feel connected with the sector.
AMBITION AND VISION
YT wants to make the trust sector more transparent, conduct an active dialogue with all stakeholders and thus contribute to raise the sector’s quality of service to a higher level. Also, in order to be able to offer perspective on continuity in the longer term for both clients and professionals.
MEETINGS AND EVENTS
Through the meetings organised by Young Trust on a regular basis, young professionals can expand their network and broaden their professional perspective. The meetings focus on networking and education.
- During informal events, YT offers young professionals the chance to take a peek inside another office, to meet other professionals, and to share experiences in an informal atmosphere.
- From a career perspective it is key to keep up to date with trends and developments. In addition to the training offered by both trust offices and HQ, YT provides presentations, workshops and round-table discussions.
Want to know more?
Foreign owner, Dutch company
This trust company now looks after the holding company on behalf of the private equity fund. In addition to providing support at an administrative level, it looks after the financial statements and all accounting tasks demanded of any Dutch company. In this particular case, the trust company also looks after issues concerning the `equity participation programme’ for the management of the Dutch company.
Fund administration for foreign private equity house
Once the fund is established, the trust office looks after the periodic financial reporting to the participants, any distributions made by the fund and the fund’s financial statements.
These administrative and accounting duties are outsourced to a trust office because fund administration is complex. For this, the trust office uses a specific fund administration programme. The trust office also offers expertise in compliance and corporate governance.
The Netherlands as a launching platform for Europe
In terms of turnover, the Dutch market would be a small player for this fashion leader. Nonetheless, it was decided to establish the European headquarters in Amsterdam. The company was impressed with the linguistic skills of the Dutch, enabling collaboration with colleagues from other countries. The process of setting up a company can be done quickly and transparently in the Netherlands since the country has an efficient trust sector that can perform management activities for foreign investors, which meant that the fashion company didn’t have to start up its own operation to serve its customers in Europe.
Dutch management activities for a construction project
If the Dutch office only does sales
A trust office looks after all executive board tasks for the Dutch company on behalf of this foreign hotel chain. Its team of trust professionals have the necessary experience and routine to carry out all the formalities performed on behalf of the company.
If you would like to apply for membership of Holland Quaestor (HQ), please contact the secretary. The association manager will then get in touch with you.