Between 15 and 20 hedge funds are set to officially base themselves in the Netherlands because of new tax rules, the Financieele Dagblad reports on Monday.

The paper quotes lawyers and tax experts who say that a new tax scheme, known as VBI, allows the Netherlands to compete with the likes of Luxemburg and the Cayman Islands. A company operating as a VBI will be fully exempt from Dutch corporate income tax and dividend withholding tax
The VBI is one of a number of measures the government hopes will boost the Netherlands’ position as a leading financial centre.