Setting up a Belgian company

Belgium has simplified the procedures of incorporating a new company in the business world, being one of the world's leaders of how long it takes to set up a business. Also it has a very stable economy and a prosperous business world.  Belgium has developed various choices when it comes to company types, however entrepreneurs often choose public and private limited company.

Preliminary activities before registering public and private limited companies in Belgium
Prior to registration of the Belgian company, both company types must have a bank account in which their representatives must deposit initially 20% of the entire capital. It is important for the application for registration to contain a document certifying that the initial capital has been deposited into a blocked account. The founders must also deposit a financial plan in the notary's public custody that justifies and describes the amount of capital. The deed of incorporation must also be signed in front of a notary who authenticates the document.

Register the public and private limited companies with the Belgian Register of Legal Entities
The applicants must file the deed of incorporation along with the proof of capital payment, and the registration with the Belgian Register of Legal Entities is done automatically since 1 July 2003. The company receives an identification number, the enterprise number which is activated using a one-stop shop (guichets d'entreprises or ondernemingsloketten). After this procedure the company is classified as a small or medium-size enterprise. Registration is completed once the managers obtain a certificate of competence, which proves the knowledge of management with documentary proof of education or practical experience. Obtaining a VAT number is also done at this stage, and can be completed by submitting an application at the VAT administration, or electronically through the centralized company docket. Since the 1 of January 2005 the VAT number and the number for social security have been unified into a single enterprise number. If the company has employees it must register with the Belgian social security administration for salaried workers (ONSS/RSZ).

Founding a Belgian company from above
Belgium government promotes and welcomes foreign investment. It is possible to found a Belgian company from anywhere in the world without traveling to Belgium, as the procedure is done electronically. Also Belgian and foreign entrepreneurs obey the same rules and have the same rights and obligations, foreigners being treated without discrimination. Furthermore Belgium does not impose any restriction to the capital, currency and transactions of the foreign company.

How long does it take to set up a Belgian company?
Besides the many advantages of setting up a company in Belgium, the short period of time is one of the most useful aspects of establishing a new Belgian company. Due to the newly implemented electronic system for registration the whole process is finished in a maximum of 5 days.