Tips for entrepreneurs

If you are self-employed, several options are available to protect your private assets against claims from your professional creditors. And that’s important, because if you are no longer able to pay your business debts, your creditors could seize your property. Which could have serious consequences for your family. Thanks to a declaration of non-distrainability of the family home, you can ensure that your professional creditors cannot seize your main residence. You can have this declaration drawn up by a notary. More information? Read all about it in the “doing business” section on Notaris.be!

It can sometimes be a good idea for entrepreneurs to enter into a marriage contract with “separation of property”. If you incur professional debts in the context of your activity as a self-employed worker, it may be useful to keep your incomes separate. In that case, professional creditors cannot touch your partner’s income. Giving you security for times when your business may not go so well. Like to know more about the benefits of a marriage contract? Find out here on Notaris.be!

Each Belgian region has a preferential ‘company donation’ tax system. In Flanders and Brussels, u no tax is levied on a donation like this, provided a couple of conditions are met. A company donation involves a donation of a one-man business or the corporate shares. In each region, you also have to meet a series of conditions for a certain period of time after the donation if you want to keep the tax benefit. Don’t hesitate to ask a notary for more information. Find out about it on www.notaris.be

Certain reduced rates apply for those wishing to hand a business over to the next generation. In Flanders and Brussels, a family business can be bequeathed at 3% or 7%. In this case, a number of specific conditions have to be met, both before and after death. The arrangements differ partly in the three regions. In addition, the preferential tax system for family businesses is overly complex. It is a good idea to talk to a notary about this, and possibly another expert, as well, such as an accountant. They know all the details, which can be particularly important in matters like this. You will find more information about doing business on www.notaris.be

Thanks to the reformed company rules, company successions can now be arranged on a more tailored basis. So not only can you donate shares while retaining usufruct, but you can also work out a voting rights system. There is no obligation to adopt the ‘one share, one vote’ principle. You can grant shares several rights, but you can also have shares without voting rights. That’s handy if you want to develop a family business in a way that is appropriate to your situation. You will find more information on www.notaris.be

Not every businessperson is able to hire or buy an office or workspace. Which is precisely why some people opt to carry out their professional activities in their homes. But if you choose to do so, you have to bear in mind a number of rules. Read more about it here.