On 25 May 2018, the Council of Ministers approved on second reading the bill to introduce a new code of companies and associations. The new code of companies and associations is thus slowly becoming a reality.
The guiding principles of the reform are well known by now: simplification (through a reduction in the number of corporate forms), greater flexibility (through fewer mandatory rules) and the adaptation of Belgian law to European evolutions and trends (such as a shift to the incorporation theory and abolition of the capital requirement for private limited companies).
The vote is scheduled for later this year. In the meantime the bill will be brought before and discussed in Parliament.
Given the vast number of changes the reform entails, our team of specialised lawyers, some of whom were involved in preparing the draft legislation, has created a secure online portal where you can find all relevant information about the new code in a central place, starting next week.