Belgium Besloten Vennootschap met Beperkte Aansprakelijkheid (BVBA) Company Formation
The majority of foreign-owned companies in Belgium are Besloten Vennootschap met Beperkte Aansprakelijkheid (BVBA) companies. Like limited companies in the UK, and GmbH companies in Austria and Germany, a BVBA is a legal entity that is separate and distinct from the individuals who run it. For sole traders and for people in partnerships, the individuals personal assets are at risk if there is a claim against the organisation but shareholders in a BVBA are liable to lose only the value of the share capital to which they subscribe.
A Belgian BVBA reduces the tax burden on shareholders by providing access to the large network of double taxation treaties Belgium has signed with other nations across the world.
Company Name
The company name must be unique and not deceptively similar to any other company registered in Belgium. We are able to conduct a company name check to ensure your proposed company name will be approved by the Belgium authorities.
Registered Office
Companies in Belgium must have a registered office that must be a physical address in Belgium. This is where official company documents may be legally served and also where the company director and shareholder registers must be kept. We are able to provide a registered office as part of our incorporation package.
Directors
Only one director is required to incorporate in Belgium and there are no restrictions on the nationality or residency. A Directors Register must be kept at the registered office in Belgium.
Shareholders
Only one shareholder is required , there are no restrictions on nationality. A Shareholder Register must be kept at the registered office and an annual general shareholder meeting must be held.
Share Capital
The minimum share capital is EUR 18,550 and a minimum of two thirds must be paid up upon incorporation.
Filing Requirements
Annual financial statements must be prepared and filed with the authorities within seven months of the end of the accounting period. These must also be presented at the annual general meeting for approval. Companies considered ‘small’ may prepare simplified financial statements and are not required to appoint an auditor. Annual returns must be filed with the Belgian Authorities.
Timescale
Once we have received all the necessary information and documentation, including identification documents for the director and shareholders, the incorporation process in complete in two weeks.
Fees
Belgium BVBA/SPRL Company Formation – £3500
Company Administration & Registered Office – £1750
Opening Bank Account for the share capital – £640
Proof of Identity
As part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.
Travel
It is not necessary to visit Belgium in order to incorporate but, if you wish to avoid travelling, we will require Power of Attorney in order to incorporate your company for you.
