Global Perspective

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Professional Opportunities for Indian CAs in

As the gateway to European Union, the Netherland plays a pivotal role in business and trade in
the region. With ever growing commercial relations with India for decades, Netherlands is the
hub for Indian trade with around 20 per cent Indian goods to Europe passing through the Dutch
port (at Rotterdam). With its six billion Euros worth of total trade with India, the Netherlands
offers numerous opportunities for Indian Chartered Accountants. The same applies to Indian
CAs looking to work in European Union. The opportunities are galore in the areas of IFRS, M&A,
International Tax, Transfer Pricing, etc. Keeping in view the number of growing companies and
the opportunities in the Netherlands, the Institute of Chartered Accountants of India (ICAI),
set up its first chapter in European Union in Amsterdam, the Netherlands on 1st June, 2017. The
ICAI Amsterdam Chapter is in touch with local professional bodies – VRC (body of Financial
Controllers in the Netherlands) and NBA (body of Registered Accountants in the Netherlands)
to enter co-operation agreements. This will enhance the branding of CA profession in Europe,
create network and job opportunities for CA’s and boost bilateral business between India and
Europe. Since the formation of the chapter, CA brand has got strong recognition by corporates
and various governmental institutions. Read on…
Gateway to Europe strategic coastal location and access to 500 million
The Netherlands has created a niche for itself in consumers in Western Europe. With an excellent
the Global Trade and investment scenario with its logistics infrastructure, excellent IT connectivity,
internationally-oriented workforce and favorable
business and tax climate, The Netherlands is a Natural
Gateway to Europe.
CA. (Dr.) Vikas S. Chaturvedi Growing Business Ties with India
The author is Chairman, ICAI Netherlands India and The Netherlands are partners of natural
and Chairman, ASSOCHAM Europe. He
can be reached at [email protected] choice. The Netherlands is also the fifth-largest
or [email protected] source of FDI in India. India’s 20% export to EU

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passes through the Netherlands. Current bilateral businesses, the Netherlands is looking at encashing
trade is over 6 billion Euros between the two Brexit opportunities and promoting itself as the most
countries. More than 200 Indian companies have set suitable geographical location to tap 500 million
up their bases in the Netherlands. These include all European Union (EU) customers.
the major IT companies such as TCS, HCL, Wipro, After Brexit, London may not remain the top choice
Infosys, Tech Mahindra, NIIT, etc. Other prominent for Indian startups looking to do business in the
companies include Moser Baer, ONGC Videsh, Sun European market. Among other EU countries —
Pharma, Tata Steel, Kirloskar Brothers, Dr. Reddy’s Germany, France, the Netherlands, Irelands, Finland
Labs, Serum Institute, etc. and Estonia — the Netherlands, which is one of the
India and the Netherlands recently signed 50+ MoUs most English-friendly European nations with 90%
in the fields of agriculture and food processing, citizens speaking the language, is emerging as an
water, technology, smart city development, cyber alternate destination.
security, healthcare, clean energy and finance. Dutch The Netherlands is focusing on various states in
companies have a wealth of experience and technical India. The most prominent areas of collaboration are
know-how. This is the opportune time for Dutch e-health, energy, cyber security, and education. Dutch
companies to engage with India for mutual benefit. By Government recently signed various MoUs with
combining their strengths, India and the Netherlands Karnataka state government in the areas of education
can together become the best in the world. and government-to-government cooperation. The
Dutch companies lead the global pack in key areas nature of these partnerships varies from state to
such as chemicals, electronics, maritime engineering, state. Other key states for The Netherlands are UP,
energy, infrastructure and creative industries. No Maharashtra, Punjab, Kerala, Haryana, Telangana,
wonder some of the world’s leading multinationals are Himachal Pradesh, Andhra Pradesh and Gujarat
homegrown and headquartered in the Netherlands, amongst others.
among them: Royal Dutch Shell, Unilever, Philips Recently a platform has been developed by Indian
and Heineken. International trade routes converge government’s investment agency Invest India in
at Rotterdam, the largest port in Europe, and at collaboration with the Netherlands Embassy, which
Amsterdam Airport Schiphol, a major international provides startups access to relevant information,
air logistics hub. Amsterdam is a major global networking, pilot opportunities, etc. The Startup
financial Centre, a position the city has held since the India Hub under Invest India and the Netherlands
Dutch East India Company (VOC) invented shares in Enterprise Agency under the Ministry of Economic
1602, and the first stock exchange was set up here. Affairs and Climate Change of that country will act as
During the visit of Netherlands Prime Minister Mark a single point of contact and the navigators for their
Rutte to India in May last year, Prime Minister Narendra respective countries.
Modi had said, “There are very few such countries with The Netherlands also promotes itself as a natural choice
whom we have this kind of momentum of high-level for companies to set up their distribution centres while
visits in our relationships. And for this momentum and selling their products in the European market.
for giving personal priority to the relations with India,
ICAI and Brand Indian CA
I congratulate my friend Mark from the bottom of my
heart.” Modi’s statement was an acknowledgement Keeping in view the number of growing companies
of the India-Netherlands relationship, which has and the opportunities in the Netherlands, ICAI
deepened and expanded at all levels. decided to set up its first chapter in European Union
in Amsterdam, The Netherlands on 1st June, 2017.
The Netherlands is a stable and vibrant parliamentary
The Chapter was inaugurated by President of ICAI
democracy, recognised worldwide for its transparency,
fairness and effectiveness. The legal system is fair and
transparent and well equipped to deal with business, ICAI Netherlands Chapter organised HR event in
trade, taxation and patent issues. The Netherlands Amsterdam on 10th April 2019. This event aimed to
also provides an entrepreneur allowance (the showcase the career opportunities for the Indian CA’s
entrepreneurs discount in the Netherlands) and tax present in the Netherlands. Chapter is working with
discounts to startups which fulfill their criteria. bodies like VRC to come up with certificate courses.
In the last few years, Brexit has also contributed There is likelihood of the start of the certificate
to this deepening relationship. While the UK is courses from next year.
focusing on to retain its India-based investments and

84 THE CHARTERED ACCOUNTANT JUNE 2019 www.icai.org

and Vice Mayor of Greater Amsterdam area. Post at Dutch company in India and later on move
set up, ICAI Amsterdam Chapter is in touch with on secondment to the Netherlands. Lot of
local professional bodies – VRC (body of Financial Indian professionals have done so in the past;
Controllers in the Netherlands) and NBA (body — Lot of Dutch companies scout for
of Registered Accountants in the Netherlands) to
professionals in area of Corporate Finance,
enter co-operation agreements. This will enhance
IFRS, Data Analytical Services and Treasury
the branding of CA profession in Europe, create
Functions, etc.;
network and job opportunities for CA’s and boost
bilateral business between India and Europe. Since
the formation of the chapter, CA brand has got strong Since there are many Dutch companies operating in
recognition by corporates and various governmental India, one can initially find a job at Dutch company
institutions. in India and later on move on secondment to the
Netherlands. Lots of Indian professionals have done
ICAI Netherlands Chapter has held series of events in so in the past. Lots of Dutch companies scout for
its existence of almost two years. professionals in area of Corporate Finance, IFRS, Data
ICAI Netherlands Chapter organised HR event in Analytical Services and Treasury Functions, etc.
Amsterdam on 10th April 2019. This event aimed to
showcase the career opportunities for the Indian CA’s — A number of growing Indian Companies
present in the Netherlands. in the Netherlands are in need of finance
Chapter is working with bodies like VRC to come up professionals for position of financial
with certificate courses. We might be starting with controllers, Tax Director, etc.;
the certificate courses from next year. The Challenges
ICAI Netherlands Chapter took various initiatives While there are immense opportunities, there are some
this year for member’s development. This year
hurdles also that one has to cross. Some of them are,
lots of representations were made to various city
governments of the Netherlands for the brand building a. Knowledge of Dutch language – although
of Chartered Accountants in The Netherlands. 90% of Dutch speak English but for certain
Chapter closely works with the city of Amsterdam, jobs this may be required;
city of Rotterdam and city of Eindhoven. Further, b. Knowledge of local accounting and fiscal
Chapter is closely working with Dutch Embassy & laws for certain jobs;
India Embassy on the number of initiatives e.g. Indo-
Dutch Finance Corridor, India Symposium etc. All c. Immigration and Visa – Like other EU countries
this leads to proactive development of ICAI members getting Visa can be cumbersome, however,
present in the Netherlands. if you have a job from a Dutch company then
typically they will arrange the Visa.
Indian CA members present in the Netherlands
are very enthusiastic to support ICAI Netherlands
Chapter and are committed to take Chapter to new While there are immense opportunities, there are
heights. In less than two years, Chapter has grown some hurdles also that one has to cross. Some of
over to some 80 members and this number is growing them are: Knowledge of Dutch language – although
steadily. In times to come, this Chapter will become 90% of Dutch speak English but for certain jobs this
most important link between India and EU. may be required; Knowledge of local accounting and
fiscal laws for certain jobs, etc.
Opportunities for Indian CAs in Netherlands
and European Union
Concluding Remarks
There are numerous opportunities for Chartered
The Netherlands offers a comprehensive package to
Accountants in the Netherlands and in the European
Union: corporates and expats – as it offers great work life
balance, great business opportunities, ease of doing
— In large accounting firms in the Netherlands, business, cosmopolitan environment and beneficial
there are openings where CA professionals can tax rulings for expat, etc. Over years The Netherlands
find opportunities especially in areas of IFRS, has sustained the top position in the world in terms
M&A, International Tax, Transfer Pricing, etc.; of global business competitiveness and is taking all
— Since there are many Dutch companies the parameters to further enhance and make it even a
operating in India – one can initially find a job better place to live and work in! 

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