Set Up a Financial Company in Belgium
Set Up a Financial Company in BelgiumUpdated on Thursday 02nd March 2023
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In order to set up a financial company in Belgium, investors need to observe the local company incorporation requirements and the legislation for financial services providers. The help offered by one of our attorneys in Belgium can be useful during the initial company formation stages.
Financial companies can offer loans to commercial customers or to individual customers for personal purposes. Insurance companies, as well as asset management companies, are also included in this category.
Financial companies in Belgium
Once investors decide what financial services they will provide, they need to make up the financial business model for the services provided and perform a market research. Many international companies are based in the Brussels-Capital Region but the Walloon and Flemish areas also present opportunities for investment.
A few business start-up costs are mandatory in Belgium such as the minimum share capital, the expenses associated with renting or purchasing a property suitable for an office space and the costs for company registration in Belgium.
Entrepreneurs in the financial sector need to be well aware of the special requirements for licensing, regulation and control that exist for these types of companies in Belgium. The Financial Services and Markets Authority is the supervisory authority in the country, ensuring that the companies in this field provide adequate services and transparent information to their clients.
One of our lawyers in Belgium can help you understand the requirements for opening a financial company and for obtaining special permits and licenses.
Opening a Belgian company
When deciding to open a financial company in Belgium investors need to choose a suitable business structure. A common business form is the private limited liability company which also needs to have a unique name.
The registration of the new legal entity is performed with the Crossroads Bank for Enterprises (CBE), which is the Belgian Trade Register. After the company is entered into the CBE database, the investors will need to register it for value added tax purposes, with the Belgian VAT authorities.
Our Belgian accountants assist financial companies of all sizes with personalized packages and solutions. Our accountancy solutions include the preparation of the financial statements, monthly, quarterly, or annual reports, situation forecasts, interim financial reports, financial results presentations, and much more. You can also reach out to us for tax management and audit services.
Contact the experts at our Belgian law firm for more information and advice on opening a financial company in the country.