A little over two-thirds of Belgian entrepreneurs and self-employed workers are yet to change their legal statuses in accordance with the country's new legal code for companies and associations (CSA).
The Royal Federation of Belgian Notaries (Fednot) has reiterated the requirement to adapt their status by 31 December 2023.
To avoid a "last-minute rush” and any "legal uncertainties,” Fednot has also invited entrepreneurs to contact their notaries as soon as possible to adapt to the new legal code, which has been in effect since May 2019.
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If entrepreneurs do not do this in time, their companies will be automatically converted to the form required in law from 1 January 2024, with a company's "board of directors to be liable if the company does not fulfil its obligations".
Fednot added that “this liability will be shifted directly to the sole self-employed worker” of individual companies.
