July 1, 2016 / 3:20 PM / 3 years ago

UPDATE 1-Dutch bonus ceiling has "flexibility" for foreigners -PM

(Updates with details from law)

AMSTERDAM, July 1 (Reuters) - Dutch Prime Minister Mark Rutte said on Friday that a strict 20 percent cap imposed last year on bonuses in the financial sector has “some flexibility” for foreigners.

The comment was made in response to questions about what the Netherlands can do to attract businesses in the wake of Britain’s decision to leave the European Union.

Rutte said if the rules were read carefully, there was “some flexibility for foreigners”, but he did not elaborate.

The law states that the 20 percent cap applies to companies with a “main office” in the Netherlands, or employees who “primarily work in the Netherlands”.

Otherwise, it said, the bonuses can rise to a maximum of 100 percent of annual salaries, or the same limit imposed by the European Union.

The Netherlands is considered by some as a possible alternative to London because of its advanced infrastructure, strategic location, good schools and high level of English proficiency. It has Europe’s largest port and fourth largest airport.

Britain’s vote to quit the bloc has prompted companies in London to reconsider where they are headquartered, due to the possibility that their access to the European single market might be restricted once the vote is implemented. (Reporting By Anthony Deutsch; Editing by Kevin Liffey)

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