Amsterdam – Mokum, without Aleph
Amsterdam is located in the province of Northern Holland and is the capital city of the Netherlands. The city has a population of 872,680, the metropolitan area has a population of 2,480,394, and the Randstad area has a population of 8,116,000, making it the sixth-largest populated area in Europe. Its entire territory spans 219.32 km2, of which 53.56 km2 consists of waterways. The municipality of Amsterdam is sectioned into 7 districts. Each district has a capital and a governing body for administration purposes. In 2002 the Netherlands adopted the euro (EUR) as its currency, which replaced the Dutch Guilder (NLG).
The city of Amsterdam is regarded as the commercial and financial center of the Netherlands. Amsterdam ranks as the eighth-best city in the world to do business, based on transportation links and the efficiency of the labor force.
What companies have offices in Amsterdam?
Numerous high-profile companies choose to run their global operations from the city, such as ING Group, ABN AMRO, Heineken International, Philips, Nike, and TomTom.
The financial and legal district is located in the Zuidas, situated away from the city center but within proximity to Schiphol International Airport. It is increasing rapidly and has attracted high-profile multinationals such as Google, Akzo Nobel, and the European Medicines Agency. The World Trade Centre Amsterdam can also be found in the Zuidas.
Amsterdam’s prime location and easy access to the European markets make it a significant hub in the trade export industry, with the Port of Amsterdam exporting over 31.9 million tons of cargo a year. Tourism is Central to Amsterdam’s economy, with over 20 million people visiting the country annually. The RAI convention center is one of the largest and most established centers in Europe, accomodating numerous trade fairs and business conferences.
A stable transportation infrastructure operates throughout the city of Amsterdam, the majority of which is controlled and operated by De Stadsregio, which oversees and develops the existing transport system. Schiphol International Airport (AMS) offers frequent flights to many destinations from each of its three terminals. Over 70 million passengers pass through the airport annually, making it Europe’s third busiest airport after London and Frankfurt.
According to AirCargoNews, Schiphol processed 1.66m tonnes of cargo in 2021. The airport also has an extensive cargo system in operation, with 23 cargo airlines. A railway system is located underneath the airport, which allows for quick and easy access to central Amsterdam and nearby cities such as Utrecht and the Hague. Bicycles are encouraged, with many bicycle lanes located throughout the city center.
Amsterdam’s main public transportation options include travel by bus, tram, or the metro system. An extensive network of highways connects Amsterdam to significant cities in the country and throughout Europe. The A10 ring road surrounds the city, and the E35 European road route runs from Amsterdam to Rome, passing through Switzerland and Germany. The central train station in Amsterdam is Centraal station, which has frequent services to many other European countries such as Austria, Belgium, France, Denmark, Germany, and Russia.
The Port of Amsterdam provides a significant trade route for exporting goods. It is located in the IJ bay and allows commodities to be transported across the North Sea via the north sea canal; passenger cruise ships also dock. The excellent transportation infrastructure allows for convenient travel to and from international destinations.
Amsterdam is a metropolitan city that is hugely diverse in its demographic makeup. Since the 17th century, Amsterdam has attracted large numbers of immigrants from Asia, Africa, and America. Currently, 30% of Amsterdam’s total population is from foreign countries. An estimated 176 different nationalities live in Amsterdam, making it one of the most culturally diverse cities in the world. Dutch is the official first language; however, most of the workforce are multilingual; many residents speak English, and it is commonly used in tourist facilities, business meetings, and university lectures.
There are two major universities located in Amsterdam city center, each providing internationally accredited degree programs in an extensive range of topics. The University of Amsterdam is a central research facility and member of The League of European Research Universities (LERU). It specializes in economics, law, and medicine and offers many courses that are taught in the English language. It is home to 32.631 students (est. 2017), of which many have come from international countries to study. The Netherlands has a high literacy rate, on par with America, and the United Kingdom, at 99%. The minor VU University of Amsterdam is partly government-funded; it is divided into 12 faculties and offers Bachelor’s, Master’s, and Ph.D. degree programs.
Business Costs in Amsterdam
The current corporate tax rate is set at 25.8% in 2022 of all income earned (25% in 2021). Personal income taxes are based on a progressive system: a resident or temporary employee earning between €0 – €19.982 can pay 36.55% tax on all income earned. The highest tax bracket rate has been reduced by 20% since 1989, to a 52% flat rate on all income earned above €53,861. There are two VAT rates set for the Netherlands: a standard rate of 21% applicable to most goods and services, with a lower discounted rate of 6% available for unique items such as foodstuffs and some medications.
Office rental costs for Amsterdam are comparatively lower than many other major European cities, with the average rental in the Amsterdam Zuidas district costing $56.35 per square foot per annum, with costs in London (West End) and Paris (CBD) standing at $119.40 and $93.12 per square foot per annum respectively.