[ESTABLISHING A BUSINESS ENTITY IN BELGIUM] 52
available and contain certain mandatory information. In an NV, at least the minimum capital amount must be deposited on a Belgian account number. After execution of the notarial deed, the notary will file the deed and request the registration of the company with the CBE in order to obtain an identification number. Next, the one-stop shop has to verify whether the company meets the legal requirements for its intended activity and has to finalize registration in the CBE database. Once incorporated, the company’s ultimate beneficial owners (UBOs) must be registered with the UBO register. Finally, the company will need to be registered for VAT and as an employer with the National Social Security Office. IV. GOVERNANCE, REGULATION AND
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A minimum of 50 employees or;
- A balance sheet total of EUR 6 million.
The statutory auditor is appointed for a term of three years and must be approved by the Belgian authorities. The company's books must be kept at the company's registered office. The following documents and information must, amongst others, be filed with the registry of the Enterprise Court within 30 days and, as the case may be, published in the Annexes to the Belgian State Gazette: - The incorporation deed and amendments to the company's articles of association; - Changes to the company's name, seat or legal form; - Appointments and resignations of persons authorized to represent the company; - Appointments and resignations of the legal representative(s) of the Belgian branch office; - The dissolution of the company, the appointment of liquidators and the scope of their powers and the closing of the liquidation; - Any bankruptcy, judicial reorganization or similar proceedings affecting the company. (ii) Requirements for local shareholders/directors On 1 July 2023, the new Belgian foreign investment (FI) screening regime entered into force. Transactions executed as of that date are subject to a mandatory pre-closing notification to the Belgian Inter-federal Screening Commission. The Belgian FI regime only screens
ONGOING MAINTENANCE (i) Reporting requirements
In the NV, BV and CV, the management body draws up an annual inventory and prepares the annual accounts, including the balance sheet, the results’ account and explanatory notes. An annual shareholders' meeting must be held within six months after the end of the financial year to approve the annual accounts. The annual accounts must then be filed with the National Bank of Belgium within one month after their approval by the shareholders’ meeting. Larger companies and companies which are part of a group that is required to publish consolidated annual accounts are obliged to appoint a statutory auditor. A Belgian company is considered to be a "larger company" if at least two of the following criteria are exceeded during the previous two financial years: - An annual turnover, VAT excluded, of EUR 11.250.000;
ILN Corporate Group – Establishing a Business Entity Series
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