5 tips for writing a business plan for an IND residence permit
If you want to apply to the IND as a foreigner to obtain a visa as a self-employed person / freelancer in the Netherlands, you will have to write a business plan. This business plan is assessed by the IND based on a points system. If you score enough points, the entrepreneur visa will be issued and you can start your business from the Netherlands without any hindrance. Ondernemersgevoel.nl has a lot of experience in writing business plans for foreign entrepreneurs who want to work as a freelancer in the Netherlands. We would like to share 5 tips with you to increase the chance of success of your application for a residence permit at the IND.
Writing a business plan for an IND residence permit: our 5 tips
The scoring system of the IND makes it clear what your business plan must comply with and how many points you will receive per component as an independent entrepreneur from the IND. Take note of it and also take into account the following tips.
Tip 1: If possible, start your business before you apply
When granting a residence permit to a self-employed person, the IND attaches great importance to substantiation and evidence. If you are already in the Netherlands and have a visa that allows you to stay here temporarily, start your business now. Attract customers, invest, conclude contracts and generate turnover. If you can already show invoices and interim results to the IND as part and substantiation of your business plan, then the chance that your application for a residence permit will be granted is much greater than if you only have ideas and have yet to start from scratch.
Tip 2: Aim to achieve 45 points for both parts A and B
To qualify for a residence permit as a self-employed person as a freelancer, you must score at least 90 points in total and at least 30 points per component. A = personal experience, B = Business plan and C = added value for the Dutch economy. As a freelancer in particular, you will almost never manage to score those 30 points for component C. And that also applies to entrepreneurs who do plan to invest in human resources and capital, since demonstrability of this often proves difficult. So focus on the escape option of achieving 45 points for components A and B both.
Tip 3: As a freelancer, be sufficiently ambitious in terms of turnover.
Especially scoring at least 45 points on section B (business plan) is not that easy as a freelancer. Of course you think your business plan is great, but does the IND think so too? As a freelancer you often have to collect points on all aspects of section B. After all, your business setup is only small. Therefore, be sufficiently ambitious in your turnover budget and always set the bar above € 100,000 in your forecast. That will earn you at least 10 points. For serious plans to start as a freelancer, such a turnover is also very realistic. By the way, this turnover is not income because the costs are deducted from it. Does such a turnover not seem feasible to you when you work as a freelancer? Then consider whether it would be possible to have someone work for you part-time in the future so that extra turnover can be achieved, in addition to the turnover that you personally achieve. And write that in your plans.
Of course, it is essential to also substantiate such a turnover budget of + € 100,000. By means of achieved results such as invoices and VAT returns, already agreed assignments or in any case letters of intent from potential customers for the future, you can make such a turnover as a freelancer plausible.
Tip 4: Inject seed capital into your business
Do you have private funds such as savings? Then consider contributing at least € 5,000 and preferably more than € 25,000 as available business capital to your company. You can deposit that amount into the business account and use it to pay start-up costs or to provide for your own livelihood in the first months when you are not yet earning enough. You then include it as liquid assets on the balance sheet of your company and then withdraw €2,500 from it every month, for example, to be able to live on. In this way, you improve your balance sheet position and solvency. Moreover, it contributes to improved liquidity development and that all yields extra points for your business plan for IND.
Tip 5: Have your financial plans assessed by a certified accountant
Drawing up a financial forecast in the form of an opening balance sheet, an operating budget and a liquidity budget is often not that difficult for a freelancer. However, the IND attaches great importance to you being able to demonstrate that a recognised and independent financial expert such as an accountant has also looked at it. This increases credibility. Therefore, for example, request a compilation statement via a NOAB-certified accountant. Don't know one? Ondernemersgevoel will be happy to put you in touch with such a financial expert.
Ondernemersgevoel.nl helps you write your business plan for the IND for a residence permit as a self-employed person
Get started with these 5 tips and gather everything you already have for writing a business plan for your IND application. It is very plausible however that you are still struggling with all kinds of topics regarding your plan. What is your distinguishing feature (Unique selling Point)? What does the market in the Netherlands look like? What do I send with my application to the IND?
As an experienced business economics and business consultant, Ondernemersgevoel.nl can help you write your business plan. We make an inventory of what is already there, send you on your way to gather more and work out the ideas in your head in consultation into a business plan that has a real chance of success. We also draw up the financial plan and have it tested by an independent expert.
Download our anonymous example plan below to see what something like that looks like.
Interested or do you have any questions? Please contact us!
Are you interested in our services with regard to writing a tailor-made business plan for applying for a residence permit at the IND? Please read more here. Or do you still have some questions? Do not hesitate to call us (+31 6 111 5 37 38) or send us a message and and we'll get back to you.