Necessary authorizations to offer domiciliation services

In Belgium, the business of company domiciliation is strictly regulated by law to ensure transparency, security, and compliance with legal obligations, particularly concerning the prevention of money laundering and the financing of terrorism. Here are the main authorizations and obligations you need to know before starting a company domiciliation activity.

1. Registration with the Banque-Carrefour des Entreprises (BCE)

Any company offering domiciliation services must be registered with the Banque-Carrefour des Entreprises (BCE). This registration is a mandatory step for all entities conducting economic activities in Belgium. It ensures that the company has a unique business number, used in all administrative and legal interactions.

2. Registration as a Domiciliation Service Provider

According to Belgian legislation, notably the Implementing Regulation of the Law of September 18, 2017, domiciliation service providers must obtain a specific registration to operate legally. This accreditation is issued by the Federal Public Service Economy and ensures that the provider complies with all standards and regulations related to the prevention of money laundering and the financing of terrorism.

To obtain this accreditation, the provider must demonstrate that it has the necessary infrastructure to manage domiciliation services and complies with legal obligations, including transparency and traceability of operations conducted on behalf of its clients.

3. Compliance with Anti-Money Laundering and Counter-Terrorism Financing Obligations

Domiciliation companies are required to comply with the requirements of the Law of September 18, 2017, on the prevention of money laundering and the financing of terrorism. This law imposes several obligations on domiciliation service providers, including:

Client vigilance: Providers must implement procedures to identify and verify the identity of their clients before establishing any business relationship.
Continuous monitoring: It is mandatory to continuously monitor transactions to detect any suspicious activity.
Reporting suspicious transactions: Providers are required to report any suspicious transaction that may be related to money laundering or the financing of terrorism to the competent authorities.
Training and awareness: Companies must regularly train their staff on legal obligations and best practices regarding anti-money laundering and counter-terrorism financing.

4. Subscription to Professional Liability Insurance

Domiciliation service providers must take out professional liability insurance. This insurance is mandatory and aims to protect the company against potential claims arising from the provision of its services, particularly in the event of loss or mismanagement of clients’ mail.

5. Compliance with the Belgian Economic Law Code

Domiciliation companies must also comply with the provisions of the Belgian Economic Law Code. This includes obligations of transparency, consumer protection, and adherence to fair commercial practices. Companies must ensure that their domiciliation contracts are clear, transparent, and compliant with the law.

6. Domiciliation Contracts Compliant with Legal Standards

Domiciliation contracts must be drafted in compliance with Belgian law. They must clearly state the rights and obligations of each party, the services provided, the termination conditions, and the mail management procedures. These contracts must also specify that the provided address can only be used as a registered office and not as an operational office or for illegal activities.

Conclusion

Engaging in the business of company domiciliation in Belgium involves adhering to a set of strict rules designed to ensure the legality, transparency, and security of the services offered.

Naturally, LePetitBureau has completed all the necessary steps!