A new set of rules has recently entered into force for your company: the new Code of Companies and Associations. This new code does not only bring obligations, but also many opportunities. Discover how you can prepare for an upgrade!
When the Companies and Associations Code (CAC) was introduced, attempts were made to restrict the consequences as regards corporate tax as much as possible. This ‘tax neutrality’ has in general been achieved.
The new Companies and Associations Code (CAC) expressly states that directors cannot be bound by an employment contract with the company in that capacity. However, this does not mean that a director may never enter into an employment contract with the company at which he or she is a director.
Did you know that you can be a member of the administrative body in no more than one capacity?
There is no knowing what the future has in store for us. Sometimes fate can strike in ways we would not wish for and we find ourselves in a situation in which we are no longer able to manage our capital ourselves. For an entrepreneur this can have a major impact, not only on your personal capital but also on (the continuity of) your business. A healthcare power of attorney might allay your worries.
A new set of rules has recently entered into force for your company, i.e. the new Belgian Code of Companies and Associations (the ‘CCA’). This means that every company, non-profit organisation or foundation will have to amend its articles of association in order to bring them in line with the provisions of the new CCA. The new CCA, however, does not only bring obligations, but also many (flexible) opportunities. It will also give you the opportunity to make progress in the areas of digitalisation and modernisation.
One of the questions we have been asked most often since the introduction of the new Companies and Associations Code (hereinafter referred to as ‘CAC’) on 1 May 2019, is the matter of what corporate form it is most advisable to choose, that of Public Limited Company or Private Limited Company. In this article we shall endeavour to give a brief explanation of the remaining significant differences between the two legal forms.
