Eternity Law International — News — Get Your Trust License in Belgium

Get Your Trust License in Belgium

Published:
July 5, 2024

A trust is a contractual relationship in which one party holds financial assets or property for the benefit of another. A trust is used by the grantor or grantor of assets who transfers financial means or real estate to the trustee. The trustee holds this for the beneficiaries and has the power to dispose of this financial funds or property depending on the purposes of the trust. Thus, a trust is different from a foundation, which in turn is a cross between a trust and a corporation, but is not a separate legal entity, but rather has the ability to exercise rights and acquire obligations. Below we will look at the features of establishing trust structures and getting trust license Belgium.

Our team is professional experts in the field of Belgium trust services, business startups and corporate support. We also have a variety of ready-made trusts for sale. With us you can be confident in the success of your commercial future.

Trusts in Belgium: functioning and general licensing procedure

Belgium is a very advantageous and attractive jurisdiction for conducting international business due to its advantageous location in the heart of Europe, Belgium provides many opportunities for companies seeking to expand globally. Registering a trust in Belgium involves a number of steps necessary to create a successful project. Below we will describe a detailed guide that will help you navigate this process smoothly. Moreover, we’ll help you open a trust in Luxembourg, Germany, the UK and other countries around the world.

So, how to get trust license in Belgium? To do this, you need to complete several points listed below, which represent certain stages.

  1. Determining the business structure.

The first important step is choosing the right legal structure for your trust. Belgium offers various legal forms such as private limited liability company (BV/SRL), public limited liability company (NV/SA) and various forms of a private nature. Each structure has its own unique characteristics, such as liability levels, tax obligations and capital requirements.

In particular, BV/LLC is most often used to establish a trust, as it is most suitable for small and medium-sized start-up businesses due to its flexible structure and the absence of minimum capital requirements. On the other hand, NV/SA, which requires a minimum capital of €61,500, is ideal for larger companies, especially those looking to expand.

  1. Prepare a complete business plan.

A well-written business plan is the cornerstone of the success of any business. It should cover your business idea, market analysis, financial planning and growth strategies.

In Belgium, a business plan for trusts is often a prerequisite for obtaining a license, government funding and attracting investors. You must demonstrate the viability and potential of your business by detailing how you plan to generate revenue and achieve profitability.

  1. Selection and registration of the legal address of the company.

To establish a company, you must have a legal address in Belgium. You have the option to choose a physical location, a virtual office, or use a business center address. The address should reflect the needs and image of your company and be located in a location accessible to your target market.

  1. Open a corporate bank account.

Before registering your company, you must open a corporate bank account and deposit your initial capital. The amount of capital varies depending on the chosen legal structure. For BV/SRL, although there are no minimum capital requirements, the adequacy of your capital to cover corporate needs and potential risks will be assessed. This step is critical because it demonstrates the financial readiness of your project.

  1. Legalization of constituent documents.

The constituent documents, including the articles of association, must be drawn up and notarized. This requires the services of a Belgian notary and is an important legal step to ensure the correctness of internal documentation.

  1. Register with Crossroads Bank for Enterprises (CBE).

After notarization, your next step is to register with the CBE. During this procedure, the entrepreneur is provided with a unique business identifier, which is necessary for business activities in Belgium. This is a regulatory requirement and serves as the official identifier for the firm to obtain trust license Belgium.

  1. Registration in the VAT register.

VAT registration is a requirement for a trust. Typically this process can be completed at the same time as the CBE registration. Having a VAT number is important for tax purposes and is necessary for doing business in Belgium and the EU.

  1. Hiring employees.

The key in this jurisdiction is to establish an appropriate payroll system. This system is based on the principles of compliance with wage laws, tax withholding and social security contributions. Belgium has special rules regarding employment contracts, working hours and employee benefits that must be strictly observed.

Our company is ready to become your reliable ally on the path of your commercial development. Trust license cost Belgium varies depending on plenty of factors. We’ll calculate it for you in advance.

Regarding the trust license requirements Belgium, the following should be noted. The list of documents must be submitted in the manner described below.

  1. A certified social contract between the owner and employees.
  2. The charter, which must contain general information about the name of the company, main and additional activities, capital, address, period of existence of the company, meeting of shareholders.
  3. Powers of the Board of Directors.
  4. Biographical information of trust company managers
  5. Capital distribution.
  6. Financial information.
  7. Registration and authorization of auditors.
  8. Completed trust license application Belgium.
  9. Business plan and description of company development activities.

The relevant Belgium trust law details the requirements for conducting trust business. To do this, the applicant must prove to the Banking Authority that he has sufficient training, technical, financial, legal, administrative and operational capabilities to manage the trust project. That is, you must demonstrate ability, experience and sufficient professional solvency to obtain permission to allow you to develop a trust business.

Once an application for a trust license has been submitted and after the documents accompanying the application have been reviewed, the regulator may make any appropriate requests for additional information that it considers necessary for the applicant to verify capacity and compliance with requirements and regulations. Trust license fees Belgium required to pay range from 2 thousand euros. Once you have paid the appropriate amount, it will take six weeks to three months for your license to be approved. Although this period may seem lengthy, regulators should conduct a thorough review of your background, operational capabilities and other details before ensuring that your trust is adequately prepared to serve clients.

The regulator has a period of 90 days from the date of provision of all necessary documentation to approve or refuse to issue a license. These 90 days may be extended if the regulator requires more time to more thoroughly evaluate the submitted documentation. When an application for a license is made by a company that is not yet registered, the regulator will allow the articles of incorporation to be notarized and registered in the public registry and will require the provision of appropriate confirmation.

To take your business internationally and make it legal under the legal framework of your chosen jurisdiction, you need to have a strong foundation in the industry, and acquiring a license will be your first step towards achieving this goal. Obtaining all relevant documentation and carefully following each procedure remains a labor-intensive process,  however, our lawyers are ready to provide you with professional trust services Belgium and comprehensive advisory, and practical support. We have a huge number of offers of ready-made trust structures for sale in Hong Kong, Malta. In Nicaragua, Cyprus and other countries. In our professional hands, any business will become profitable and promising. Contact us right now.

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