Are you going to start your own business? Congratulations, starting your own business is an exciting adventure. But we also need to provide business registration so that it does not become a nightmare for his or her founders. Any economic activity is fraught with many risks. How can we limit these risks to the maximum? The answer to this question lies at the heart of another question: on what legal basis can you create your own business or how to register a company?
Regardless of whether you are alone or planning to join forces with third parties, your first question will always be the same: do you need to work in an individual (sole ownership) or through the creation of a company? In fact, there are two options for starting your business: – You decide to go about your business. In this case, we are talking about a separate company. Alone or with others, you prefer to work in a company. Each of these two possibilities has its advantages, risks and limitations. The purpose of this brochure is to draw your attention to them and provide general information about various types of companies and answer the question how to register a business name.
We recommend that you keep yourself informed, anticipate steps, and think about protecting your business. The purpose of this brochure is to answer your questions, arouse your curiosity and especially encourage you to meet with your notary, who will help you individually. The first meeting is always free. If this first interview causes a deeper study of the dossier, check with your notary public to evaluate your expenses. They are, for the most part, established by law. Do as more than 2.5 million people every year: take your future in your hands with the help of a notary. More than 1,200 studies are currently underway, where notaries and staff welcome you.
The thing is to help you find the right legal framework in which you can optimally grow your business. In most cases, the notary acts at the stage of the constituent act of the company, which is necessarily an authentic document for these companies: – SRL (limited liability companies), – SA (joint-stock companies), – SC (cooperatives). However, advice before setting up a company can also be valuable. If you consult with your notary public and ask targeted questions, the latter may reveal important issues that you have not thought about.
In principle, everyone has the right to start a business, provided that he or she complies with the laws governing their implementation. Sole ownership is the simplest form of activity, because there are several restrictions when a person wants to conduct business alone. However, the implementation of a professional activity may have adverse consequences for your property as an individual who carries out this activity in an independent capacity.
Indeed, if you carry out your activities personally, your business, from the point of view of the law, will not be different from your private property. Two consequences: – Your (private) personal creditors can always return their claims by taking over your business (while their demand originates in your personal life and has nothing to do with your business). – Your professional creditors will still be able to recover their claims by confiscating all your property, including your private property (i.e. your family’s house, your furniture, your personal accounts).
If you are married to a social regime (and therefore without a prenuptial agreement), the consequences can be dramatic: contractual debts can affect your common heritage. In other words, half of the common property that your spouse owns may also be confiscated by your creditors. In other words, in the event of a debt or bankruptcy, your creditors can still collect their claims by seizing your property, be it private property or property related to your business!
However, being independent, you can protect your home during business registration by making a statement of invisibility to a notary, under certain conditions: – You must be an individual who carries out his independent professional activities in Belgium. – Protection applies only to your “main place of residence”, that is, the place where you live most of the year. You do not need to own the entire building. – This declaration must be made before the notary (of your choice), and the notary can receive the declaration only after obtaining the consent of the spouse of the self-employed employee.