Priority to freedom

Belgium is one of the most cosmopolitan States in the EU  – the fruit of few restrictions being placed on foreign companies operating in the country. Belgium guarantees the freedom to create a company and to transfer capital towards any company beyond its borders, and towards any foreign investor wishing to set up in the country. No former authorisation is required, except for specific domains such as banking or insurance. No preliminary authorisation is required either for acquisitions or joint ventures. However, for the creation of a private company limited by shares (SA/NV), a preliminary financial plan over a two-year period should be established and conserved by a notary.
For the opening of a branch, the accounts of the mother company should be filed with the National Bank of Belgium. Minimum capital stock of 61,500 euros, at least two shareholders and three directors are also necessary. No requirements exist for residency or nationality. A limited liability company (SPRL/BVBA) necessitates an initial capital stock of 18,600 euros, 6,200 euros of which should be paid up. This structure requires at least one shareholder and does not allow for more than one director. Shareholders are only responsible for the assets that they have brought into the business. For all this, useful contacts are the Chambers of Commerce, the FFIO (Flanders Foreign Investment Office) for Flanders, the OFI (Office for Foreign Investors) for Wallonia, and the BRDA (Brussels Regional Develop-ment Agency)  for the Brussels region.