Setting up your business through an online counter
When setting up a business, you go through a number of steps:
- Do you start with a sole proprietorship (natural person) or with a company (legal entity)?
- Do you already have a professional bank account?
- In which fields (NACEBEL codes) will you be active?
- Are you liable to VAT and do you need a VAT number?
- Do you need any permits, e.g. an application for itinerant trade?
Tip: Would you like a clear step-by-step plan for preparing your start-up properly? Fill in the questionnaire and get your personalised step-by-step plan. Then you will know exactly what you need.
Should you opt for a sole proprietorship or a company?
In short, a sole proprietorship is quickly established. Therefore, it’s highly suitable for entrepreneurs who want to start quickly and don’t want too much paperwork.
As there is less paperwork, it’s also cheaper. You save, for example, on notary fees. On the other hand, with a sole proprietorship you are fully liable because you literally are your business.
Setting up a company is more difficult and costs more, but has the advantage that your business assets are separate from your private assets. It’s also more attractive in the event of a higher turnover, because it makes it easier for you to optimise your taxes.
NACEBEL-codes: which fields are you active in?
NACE is an official European list of activity designations: a code corresponds to a specific class of commercial or non-commercial activities. NACE is the European list, but each country may add additional codes to the list, as long as the basic list remains unchanged. That's why in Belgium we usually talk about NACEBEL codes.
The NSSO, the VAT administration and the business counters use them to classify enterprises according to sectors.
Here is the complete official NACEBEL list with explanatory notes.
Tip: Immediately add all possible relevant NACEBEL codes to your CBE registration. It’s cheaper to include an extra code at the time of incorporation and not need it, than to add a code afterwards or operate in an undeclared field. Of course, make sure that you only add codes that are relevant.
VAT liability and VAT number
In most cases, as an entrepreneur, you can assume that you are liable for VAT and it would be advisable to also have your VAT number activated immediately.
However, some companies are entitled to an exemption, for example on the basis of their limited annual turnover or the sector in which they operate.
