Starting a company in Belgium: BV, NV or CV, which status to choose?

Choosing the right legal form: a strategic decision

Since the Belgian Code of Companies and Associations (CCA) came into force on May 1, 2019, the number of legal forms has been reduced from 17 to 4 main forms.

The BV (Private Limited Company)

• Minimum capital — No longer a legal minimum, but obligation to have sufficient starting equity
• Liability — Limited to contribution, except in case of serious management fault
• Flexibility — Possibility to create share categories, shares without voting rights, multiple voting rights
• Taxation — Corporate tax rate of 20% on the first €100,000 if conditions are met
• Ideal for — Freelancers, SMEs, liberal professions, startups

The NV (Public Limited Company)

• Minimum capital — €61,500
• Governance — Monistic (board of directors) or dualistic (management board + supervisory board)
• Stock exchange — Only form allowing stock exchange listing

The CV (Cooperative Company)

• Partners — Minimum 3
• Principle — Each partner has one vote, regardless of their stake
• Accreditation — Possibility to obtain NCC accreditation for additional tax benefits

Incorporation costs in 2026

Estimated budget for a BV: €2,000 to €3,800 (notary fees, Belgian Official Gazette publication, CBE registration, financial plan).