What you can expect
The process for employee participation
The process begins with thorough preparation. We map out the entrepreneur's wishes and objectives: who participates, to what extent, and under what conditions? At the same time, we gather the necessary financial information and assess which participation form best suits the situation - direct, via a STAK (foundation), or through another structure. In this phase, we also think along from a tax and legal perspective, before any formal steps are taken.
Next, we develop a transparent valuation methodology, usually based on a DCF analysis, tailored to the nature and size of the enterprise. We work out the financial projections, substantiate the parameters used, and draft a valuation report that is both understandable internally and verifiable externally. The methodology is designed in such a way that it can be easily updated for future entrants or leavers, without having to go through the entire process again.
In the final phase, we discuss the outcomes with the entrepreneur and their legal and tax advisors. We also support communication towards the staff: what do they receive, what do they pay, and what are the rules? Where desired, we coordinate with the Dutch Tax and Customs Administration (Belastingdienst) so that the valuation used is formally confirmed and all involved can move forward with certainty.
Why Maasdael?
Maasdael has extensive experience with employee participation issues at director-major shareholder (DGA) companies, family businesses, and cooperative structures. We are familiar with the fiscal and legal context within which these processes take place and know the pitfalls that can arise in practice. In addition to employee participations, we also have experience with related issues: the valuation of STAK certificates during business transfers to the next generation and periodic valuations within cooperative structures.
During the process, we work closely with the entrepreneur and their legal and/or tax advisors. We fully assume the valuation role and coordinate with the legal and tax implementation by the other parties involved. Communication is direct and pragmatic: we translate complex valuation issues into understandable conclusions. This provides the entrepreneur with certainty – both now and when the scheme is adjusted in the future.
