A private limited company, or in Dutch a besloten vennootschap (bv), is a legal entity. This means that the bv is generally speaking liable for any debts, rather than you as an individual. As a director, you're an employee of the bv and you act on its behalf. It's possible to set up a Dutch bv on your own or with other individuals and/or legal entities. A private limited company's equity is divided into shares that are owned by shareholders. They also hold ultimate power, but the company directors run the business on a day-to-day basis.