Public Limited Company

Information on the structure of public limited companies in Belgium...

A Public Limited Company must be set up by at least two people who contribute a fixed amount of money or contributions in kind to the business in return for shares in the company. The company may issue anonymous shares, profit share certificates, and dividend rights certificates. Its liability is limited to the amount contributed. This is a form of company often chosen by large businesses.

There must be at least three directors, with a renewable term of office of six months. However, if there are only two founders or shareholders the board may have just two members until the next ordinary general meeting.

Directors can appoint a managing director or manager for the day-to-day running of the company. Directors may represent the company in dealings with third parties.

Directors may resign or be dismissed at any time by the general meeting. The nomination, resignation and dismissal documents for directors must be lodged with the clerk of the commercial court for publication in the Appendices to the Belgian Official Gazette (Moniteur belge/Staatsblatt).

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