Belgium Business Plan

To incorporate a Belgian company a business plan is required covering the first two years of operations, we can assist in the drawing up of your business plan.

This needs to include the following:

  • A summary balance sheet that justifies the amount of capital made available by the shareholders in order to run the business
  • Setting up of the accounting system
  • Drawing up of the accounting plan
  • Classification and entry of the accounting documents
  • Show the initial capital that will cover the operations of the company for at least the first two years

The business plan is not a public document but remains in the files of the notary who enacted the incorporation deed.

If within three years following the date of incorporation the business goes bankrupt the court may decide to look at the business plan to check whether or not the founders can be found liable for insufficient start-up capital. In certain cases in Belgium the founders have be held liable for the debts of the bankrupt Belgian company.

Financial Information required for the business plan

  • Company turnover
  • Direct costs - directly linked to the turnover
  • Non direct costs - rents, cars, office costs, insurance
  • Employees - number of employees
  • Investments - type and amount of each investment
  • Where the investments will be paid from - equity, banks loans, other loans

Director Information - to manage the company proof is required to show capability of the director:

  • Degree Certificate
  • Details of previous directorships

Information required when formulating your business plan:

  • Your company name
  • Company address - this will have influence on the language of your company statutes (in French or Dutch in Brussels/In Dutch within Flanders/In French within Walloon region)
  • Name and address of the shareholders and copy of ID/passport
  • Equity - minimum €18,550
  • Equity to transfer directly on a bank account - €12,400 if 1 shareholder or €6,200 if 2 or more shareholders
  • Business activities of the Company
  • Proof of Residency and copy of passport of the Director(s)/Shareholder(s)

Starting a Business in Belgium

Directors Requirements

  • Directors may be of any nationality
  • Only one director is required
  • Directors need professional qualifications
  • The director can be a person or a corporation

Shareholders Requirements

  • Shareholders may be of any nationality
  • Only one shareholder is required and this can be the same person as the director
  • The shareholder can be a person or a corporation

Power of Attorney

It is not a requirement to visit Belgium during the incorporation process because, it is possible to be represented. A power of attorney certified with an Apostille must be used for this purpose, then we can represent you as the founder and/or shareholder before the notary.

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