A Vereniging van Eigenaars (owners' association) comes into existence when a building is divided into apartment rights: the regulations of division must provide for setting up a VvE and contain its articles (article 5:112(1)(e) BW). The VvE is a legal entity (article 5:124 BW) and every apartment owner is a member by operation of law (article 5:125(2) BW). You cannot opt out.
The VvE manages the shared property, except for the private parts, and keeps a reserve fund (article 5:126 BW). Its main bodies are the owners' meeting and the board. Its name must start with "Vereniging van Eigenaars" or "V. v. E." (article 5:112(2)(a) BW).
Even a building with only two apartments has a VvE, with the same obligations. The VvE only ends when the division is cancelled: it is then dissolved by operation of law (article 5:147 BW).
See also: Apartment right (appartementsrecht), Apartment owner, Deed of division (splitsingsakte), Owners' meeting (ALV), VvE board, KVK registration of the VvE
Read more: VvE with two apartments, What is a VvE?
Legal basis: Boek 5 BW, art. 5:112, 5:124–5:126, 5:147