To the content
Notariaat Wellens
Menu
Two young women discussing their plans

NOTACARE · ON YOUR OWN FEET

Sole proprietorship or company?

Read more ↓

To begin with

You do not choose a label. You choose how you work, bear risks and take money from your business.

"A fledgling plan first needs roots before it can go public."
Paul Wellens

Your questions, step by step

Starting a business requires many choices. We help you make clear legal arrangements and coordinate the preparations with your accountant.

Why do I go to the notaire for this?

The civil-law notary draws up the deed of incorporation for the legal forms that require it and helps document agreements on management and shares. Your accountant assists in preparing the financial viability.

How do I incorporate a company?
  1. Compare the legal forms and work out your financial plan.

  2. Determine founders, contributions, shares and management.

  3. After verifying the required documents, the deed and publication follow; coordinate further start-up with the accountant and enterprise counter.

How does this proceed and how long does it take?

There is no fixed incorporation deadline. A complete financial plan and the necessary bank certificates or reports must be available in time.

Do not start activities without first checking which registrations and permits are required.

Which documents should I provide to the notaire?

Prepare what you already have. You do not need to wait until your folder is complete to make an appointment.

Is a document missing or do you not know where to find it? Check the help for each document. We will discuss what the office can obtain for you and what you still need to provide yourself.

Where can I find this?

Request the most recent version from your accountant or company manager. Add changes and attachments; the office determines which additional reports are needed.

Where can I find this?

Request the document from your bank or download it from your own online banking environment. State the date and file reference. Provide statements, never passwords or access codes.

Where can I find this?

Provide the complete version with date, attachments and later amendments. Do you not have this document or do you not know if it exists? Select “Help needed” and discuss it with the office.

Where can I find this?

Provide the complete version with date, attachments and later amendments. Do you not have this document or do you not know if it exists? Select “Help needed” and discuss it with the office.

Where can I find this?

Request the most recent version from your accountant or company manager. Add changes and attachments; the office determines which additional reports are needed.

Where can I find this?

Provide the complete version with date, attachments and later amendments. Do you not have this document or do you not know if it exists? Select “Help needed” and discuss it with the office.

These check marks only remain on the opened page and are not sent to the office.

Open the checklist: ready, need help or not applicable
What does the notaire do and investigate?
  • Which form and incorporation documents are required?
  • Are contributions, financial plan and any reports present?
  • Are powers, share rights and resolutions legally consistent?
  • Which deed and publication are necessary? The financial viability is prepared with your accountant.

We agree on which searches the office will conduct and which information you, your bank or another expert will provide.

What should I pay attention to before I sign?

Check voting rights, profit distribution, who may bind the company and what happens upon departure, death or conflict. Discuss personal guarantees separately.

Is a passage still unclear? Feel free to ask for an explanation with an example from your own situation. Only sign when you understand what you are agreeing to.

What else must I arrange afterwards?

Monitor KBO, VAT, social status, UBO registration and permits with the competent service or advisor. Agree specifically who will do what and by which date.

Which practical tips can help me?

Make arrangements for disagreements while you still cooperate well. Also discuss how a shareholder can exit.

What do these words mean?
Articles of association
the basic rules of the company.
Contribution
money, goods or other permitted contributions a founder makes available.
UBO
the natural person who is ultimately the owner or has control.
Where can I find more explanation or help?

You do not have to phrase your question in legal terms. Tell what concerns you, what you want to arrange and if an important date is approaching.

We will look together at the next step. We agree in advance on how the office will assist you and what costs are involved.

Ask your question to the officeMake an AppointmentNotaris.be: establishing a company

General explanation for your preparation. The rules and documents that apply to you are determined based on your file.

On this page
The main differences at a glance
What are you comparing?Sole proprietorshipBV
Who is the entrepreneur?You as a natural personA separate legal entity
Private riskNo general separation of assetsIn principle limited, with exceptions
Start-upUsually simplerNotarial deed and financial plan
Using the moneyProfit is personal, after expensesMoney belongs to the BV; withdrawal follows rules
Best choiceDepends on your situationDepends on your situation
01

Start with your activity and your risk

Do you work alone or with partners? What investments and contracts will you enter into? What happens if a client does not pay or suffers damage? First, make a realistic estimate of income, costs and private needs.

From what turnover should I choose a company?

There is no universal turnover threshold that determines the best choice for everyone. Profit, risk, costs, partners, investments and your private needs all weigh together. Have a comparison made for your situation.

02

Sole proprietorship: easy to start, personal risk

With a sole proprietorship you carry out the activity as a natural person. The start-up is usually simpler and cheaper than with a BV. There is legally no general separation between your private assets and your business assets. Debts can therefore also affect your private assets, except where applicable protections exist.

Can I switch to a BV later?

That can be examined. Contracts, goods, permits and tax consequences must then be arranged. It is not a simple name change. Discuss in good time what the transition would cost and change.

03

A BV: a separate legal entity, no absolute protection

A BV has its own equity. Shareholders are in principle limited liable, but personal guarantees, directors’ mistakes and founders’ liability can still have private consequences. Not every company form offers limited liability.

Can I never lose my own money with a BV?

Yes, you can. Your capital contribution can be lost. Additionally, personal commitments and liability rules may apply. A BV does not replace a solid financial plan, careful decisions, and appropriate insurance.

04

Financial plan and incorporation

A BV requires a notarial deed of incorporation and a legal financial plan. There is no statutory minimum capital, but sufficient initial assets for the intended activity are required. The civil-law notary discusses the legal structure; your accountant helps substantiate the financial feasibility.

Is a low corporate tax rate automatically more advantageous?

No. Company funds are not immediately your private money. Remuneration or distribution can have additional fiscal and social consequences. Compare the total net result and all annual costs with your accountant.

05

Starting with friends: write down the agreements

Discuss who contributes money, time, and knowledge, who makes decisions, and how you pay each other. Also arrange departures, illness, disputes, and share transfers. A good conversation about this reveals whether you share the same expectations.

We trust each other. Why make arrangements now?

Precisely now you can calmly determine what each considers fair. A clear agreement helps when circumstances change later. The civil-law notary can legally draft and align agreements.

Frequently Asked Questions
Two men talking with each other at a small table by the window.

FROM READING TO PREPARATION

Already a first answer.

Where do I start if I become independent for the first time?

Start with what will change soon: your home, work, income or family situation. Open the related guide and use the checklist to make a list of what is arranged and what still needs an answer.

Must I arrange everything at once?

First distinguish between arrangements with a date and issues you still want to investigate. Keep contracts and confirmations together. Ask the relevant service which information they need and note the next step.

Can I involve a parent or trusted person?

You can review the information together and prepare your questions. Indicate who you want to involve in a conversation. It helps if you formulate in advance what you want to achieve and what you have doubts about.

EASY PREPARATION

A checklist for your next step

Choose your topic. You will see what helps and what you can explore together with the office.

Useful websites

FROM FIRST QUESTION TO NEXT STEP

You do not have to figure it out alone.

  1. First your situation

    Explain what is happening, who is involved and what you want to avoid.

  2. Weighing possibilities

    We discuss your questions, the available documents and the consequences of possible choices.

  3. Your next step

    We record what you want to have drafted and what follow-up belongs to it.

View my preparation

Keep this for your own discussion. The office receives nothing through this button.