[ESTABLISHING A BUSINESS ENTITY IN BELGIUM] 55
MANAGEMENT
Structure
BV is managed by either
CV is managed by either
There are 2 types of board structures:
a sole director;
a sole director;
- monistic board;
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a board of directors (non- collegial or collegial, if provided for in the articles of association).
a board of directors (non- collegial or collegial, if provided in the articles of association).
dualistic board.
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If the monistic board structure is chosen, the NV may be managed by:
Director(s) can be appointed in the articles of association.
Director(s) can be appointed in the articles of association.
either a collegial board of at least 3 directors, or; 2 directors if there are fewer than 3 shareholders, or; if the articles of association so provide, a sole director.
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The dualistic board structure must be provided for in the articles of association and consists of
- a board of supervision and;
- an executive board.
The board of supervision is a collegial board of at least 3 members, who may not at the same time be members of the executive board.
The executive board is a collegial board of at least 3 members who are appointed by the members of the board of supervision.
ILN Corporate Group – Establishing a Business Entity Series
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