Corporate housekeeping – Summer edition
Are your corporate records in Belgium up to date?
Summer is often the perfect time to take a step back and ensure that your company’s records are up to date.
Whether you are a Belgian company, a foreign company active in Belgium, or a foreign company operating through a Belgian branch, it is essential to ensure that the information registered with the Belgian authorities is accurate and current.
Beyond the update obligations set out in the Belgian Code of Economic Law, inaccurate or outdated information may lead to practical difficulties and administrative delays.
Why should you perform a summer check-up?
- Ensure legal compliance
Information registered with the Crossroads Bank for Enterprises (CBE) should be accurate and kept up to date in accordance with the requirements of Book III of the Belgian Code of Economic Law.
- Avoid administrative bottlenecks
Outdated information may complicate access to Belgian government platforms, dealing with financial institutions and interactions with public authorities.
- Facilitate corporate operations
Keeping your records up to date can help prevent issues in connection with corporate restructuring, financing transactions, acquisitions, due diligence exercises etc.
Our recommendations for review:
For Belgian companies
- Composition of the board of directors;
- Representation and signing powers;
- Registered office address;
- Activities registered with the CBE;
- Contact details.
For foreign companies
- Information relating to the foreign entity (address of the registered office abroad, company name, etc.) ;
- Authorised representatives in Belgium;
- Correspondence address and contact details;
- Activities carried out in Belgium.
- Registration of an establishment unit in case an office or co-working space is rented for employees
For foreign companies with a Belgian branch
- Branch manager(s);
- Representation powers;
- Branch address;
- Information registered with the CBE (address of the registered office abroad, company name, etc.);
- Registration of an establishment unit in case an office or co-working space is rented for employees;
- Consistency between the Belgian records and the foreign commercial register.
Did you know?
It is not uncommon for Belgian registers to still refer to:
- A former director;
- An outdated address;
- Representation powers that no longer reflect the actual situation.
These discrepancies may go unnoticed for years until urgent corporate or administrative action needs to be taken.
Action point
Before the summer break comes to an end, take a few minutes to verify that your company’s records (or those of your Belgian branch) as registered in the Belgian Crossroads Bank for Enterprises are up to date and accurately reflect your current corporate structure.
Pro-Pay can provide tailored support, identify any required changes and manage the necessary updates on your behalf. You can contact us via legal@propay.be.
A simple check today can help you avoid complications tomorrow.
