The BVBA is disappearing and this is causing a lot of pressure among notaries: “At the end of October, less than half of the companies were intact”

Already in the spring of 2019, Parliament – on the proposal of then Minister of Justice Koen Geens (CD&V) – approved a wide-ranging reform of corporate law. This involved, among other things, significant simplification: out of the 17 existing corporate structures, 4 company models were created. For example, the classic BVBA (private limited liability company) has disappeared and been replaced by BV (private company).

Therefore, companies established before the reform must amend their articles of association. They have until January 1, 2024 to do so, but many appear to be waiting until the last minute. “At the end of October, the counter reached 46 percent of the number of companies,” Bart van Opstal of Notaris.be tells VRT NWS. “There’s not much time left.”

“That is why notary offices are very busy today. We are working with all our might to implement these changes and amendments as much as possible. In any case, we are doing our best to implement them all. But if you call your notary on December 26, you cannot expect that It will happen this year. We’re starting to hit saturation point, we don’t really have much margin anymore because it’s busy at the end of the year anyway. Years.”