Charities/Companies Established for Social Purposes

Information on companies established for charity or social purposes in Belgium...

A Charity/Company Established for Social Purposes (Vereniging Zonder Winstoogmerk/Association sans But Lucratif, VZW/ASBL) may take the form of a general partnership, a partnership limited by guarantee, a partnership limited by shares, a private limited liability company or a cooperative society, but it is not devoted to creating wealth for its shareholders. The articles of association must lay down the objectives to which the company's activities are devoted, and must include certain clauses specifically stating that shareholders will seek only limited financial benefits or no financial benefits at all, and must set out the profit appropriation policy.

Prepared using information supplied by ING Bank SA/NV www.ing.be