Incorporation of a Private Limited Company: Steps and Conditions in Belgium

Are you an entrepreneur with big ambitions and dreaming of starting your own business? Then setting up a private limited company (BV) might be the right choice for you. A BV offers several advantages, such as limited liability and tax benefits. In this article, we will discuss the steps and conditions required to successfully set up a BV in Belgium.

Step 1: Drafting the Articles of Association

The first step in setting up a BV is drafting the articles of association. This document includes the name of the company, the purpose of the business, information about the capital, and the structure of the management. It is important to work meticulously and possibly seek legal advice to ensure that all required elements are correctly included.

Step 2: Opening a Bank

Account Another essential step is opening a bank account in the name of the BV. This account will be used for all financial transactions related to the business. When choosing a bank, it is wise to compare different options and consider factors such as fees, services, and online banking capabilities.

Step 3: Preparing the Financial Plan

A financial plan is mandatory for the incorporation of a Private Limited Company. It is essential to line up your investments, income, and expenses to get an insight into your finances and the feasibility of your project.

Make an overview of all your investments (such as machinery, equipment, rolling stock, and renovations). Then list all your costs and make an estimate of the income. Finally, you need to make a cash flow simulation, which gives a realistic view of your cash requirements. The financial plan should cover a minimum period of two years.

It is highly recommended to have a professional accountant assist you with this.

Step 4: Contributing the Capital

One of the key conditions for setting up a BV is the contribution of sufficient starting capital. This can be done in various ways, for example, through cash contributions, in-kind contributions, or labor contributions. It is advisable to seek expert advice to ensure that everything is done according to the rules.

Step 5: The Notarial Deed

To officially incorporate the BV, a notarial deed must be drawn up. This deed contains all relevant information about the BV and is prepared by a notary. It is important to work with a reliable and experienced notary familiar with all legal requirements during this process.

Step 6: Registration with the Crossroads Bank for Enterprises (KBO)

After the notarial deed is signed, you must register your BV with the Crossroads Bank for Enterprises (KBO). You will need to submit various documents, including proof of registration with a social insurance fund. After registration, you will receive a registration excerpt and are officially allowed to start your activities.

Step 7: Tax Obligations

Setting up a BV also involves tax obligations. You will often need to register for VAT and subsequently receive a VAT number. Monthly or quarterly, you will then be required to submit a VAT return. It is advisable to work with a financial advisor or accountant to be aware of all tax rules and benefits you can take advantage of.

Assistance with Setting Up Your BV

Setting up a BV in Belgium may seem complicated, but with the right guidance, the process can be smooth. Our experienced specialists guide you step by step through the process, allowing you to focus on what you do best: entrepreneurship. Contact us today to discover what we can do for you!