In Belgium, many entrepreneurs start th
eir activity as a natural person. This status is easy to set up, quick to activate, and inexpensive.
However, as your business grows, it may become beneficial to set up a company (SRL). Doing so can help you better protect your personal assets, optimise your taxation, and structure your business growth.
This guide walks you through the main steps to switch from a sole trader to a company, and explains how to handle this transition in the Accountable app.
Creating a company can offer several advantages:
Taxes: your income is taxed under corporate income tax (ISOC), which is often more favourable than personal income tax (IPP).
Asset protection: your liability is generally limited to the company’s capital. In case of debts or disputes, your private assets are better protected.
Professional image: a company strengthens your credibility with clients, banks, and investors, and supports business growth.
Growth flexibility: it becomes easier to hire staff, bring in partners, or expand your activities.
To explore this further, you can read:
What it means to be a one person company or partnership.
Switching from a natural person to one-person-company involves several key steps.
Before setting up your company, you must prepare a financial plan covering at least two years. It includes projected income, expenses, investments, and financing needs. This document is mandatory for the notary.
→ At this stage, working with an accountant is essential
An SRL must be incorporated through a notarial deed. This deed defines the company’s articles of association: business purpose, operating rules, share distribution, etc.
Once the deed is signed, your company is registered with the Crossroads Bank for Enterprises (BCE). You receive a new company number and can activate your VAT number.
If you stop your activity as a natural person, you must:
Deregister from the BCE
Regularise your tax obligations (VAT, personal income tax, social contributions)
More information here:
What should I do to close my business?
NB : You can keep a natural person activity while creating a company (e.g. for occasional consultancy or copyright income).
Be aware that this means two separate accounting systems and tax obligations.
Author - Valesca Wilms
As content marketing lead at Accountable Belgium, Valesca writes about freelancing, self-employment, and taxes based on her own experience as a freelancer.
Who is Valesca ?Thank you for your feedback!
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