Company registration in Belgium - COREDO

Company registration in Belgium

The Kingdom of Belgium, situated in the northwestern part of the European continent, stands as a highly developed post-industrial state. As a founding member of the European Union, Belgium boasts deep integration into its trade network, offering favourable conditions for foreign investors.

The backbone of Belgium’s economy lies in the service sector, international trade, industry — particularly steel and textiles — and transportation, with a special emphasis on maritime activities. Antwerp, one of Belgium’s major cities, has earned global recognition as the hub for diamond processing, complemented by active mining of various minerals throughout the region.

ADVANTAGES OF REGISTERING A COMPANY IN BELGIUM

Belgium strongly appeals to foreign investors, primarily due to its favourable geographical location and easy access to EU markets. Other key advantages of this jurisdiction include:

  • Developed transport system
  • Stability in political and economic systems
  • Favourable conditions for doing business
  • Encouragement of foreign investment
  • Availability of a highly qualified labour force
  • Ease of registration for legal entities

The country has diligently worked towards improving conditions for both local and foreign investors. In the early 2000s, significant reductions in corporate tax rates were implemented. Recent adjustments to the tax code enabled Belgian companies to make deductions from the tax base according to the capital status of joint-stock companies at the beginning of 2006.

POPULAR TYPES OF BUSINESS ORGANISATION IN BELGIUM

Following Belgian law, both citizens and non-residents have the right to register a legal entity. The most common legal forms in this jurisdiction include:

  • BVBA/SPRL is a private limited liability company;
  • NV/SA – joint stock limited liability company;
  • SCS/GCV – limited partnership or limited liability partnership;
  • SNC/VOF – full (general) partnership;
  • SCA/CVA – equity partnership.

The first two options, BVBA/SPRL and NV/SA, stand out as the most popular choices, especially among foreign entities during economic downturns. Additionally, it is common for businesses to open branches and establish representative offices of their companies in Belgium.

STEPS OF COMPANY REGISTRATION IN BELGIUM

To initiate the registration of a company in Belgium, it is essential to compile a comprehensive set of personal and constituent documents and develop a business plan. Using these documents, a local notary will draft the Articles of Incorporation and register them in the relevant judicial district within 15 days. The company’s establishment requires a local legal address and a local bank account. Once the company is registered in the official records, the memorandum of association must be published in the Belgian edition of the Official Gazette. Subsequently, mandatory steps include registration in the Enterprise Database (CBE), enrolment in the Social Insurance Fund, and obtaining a VAT payer number.

Additional licensing is mandatory for trust, insurance, and banking services. Typically, the entire process of registering a company in Belgium takes approximately two weeks. For a swift and straightforward experience, it is advisable to seek the assistance of experienced specialists from COREDO.

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