UBO Registration: Disclosure requirements for Belgian companies
1. Legal framework The Belgian law of 18 September 2017 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and limitations to the use of cash created the Belgian centralized register of Ultimate Beneficial Owners (‘UBO Register’)(1) implementing the European requirements set forth in the […]
Transposition en droit belge de la Directive CSRD – Obligation pour certaines sociétés de publier des informations en matière de durabilité
La directive relative à la publication d’informations en matière de durabilité, plus communément appelée la « Directive CSRD », a été transposée en droit belge par une loi du 2 décembre 2024 relative à « la publication, par certaines sociétés et groupes, d’informations en matière de durabilité et à l’assurance de l’information en matière de durabilité » […]
Arbitration as a dispute resolution mechanism in M&A Transactions
How can parties contractually anticipate the occurrence of a dispute in an M&A transaction and determine how it should be resolved? Disputes can arise from multiple sources—not only from the main transaction agreement but also from ancillary agreements such as a letter of intent, memorandum of understanding, confidentiality agreement, exclusivity agreement, etc. Moreover, disputes may […]
Luxembourg RCS: New Digital Procedures and Identification Requirements Starting November 2024
As of 12 November 2024, the Luxembourg Trade and Companies Register (“RCS”) will implement several procedural changes aimed at simplifying administrative processes and enhancing the accuracy of recorded information. These updates include transitioning requisition forms from PDF format to an interactive HTML format, allowing users to complete them directly online. This technological update, which removes […]
Fiduciary duties of company managers under Luxembourg law
The quantity of holding companies and fund related corporate entities, on top of the fairer number of commercial companies composing the Luxembourg economic environment leads inevitably to a significant demand for company officers on a relatively small-scale market. Many company officers in place, whether assuming a role of manager or of director, are for various […]
Après le CSA, siège en Belgique, en France ou au Luxembourg ?
Contribution de Me Gérald Stevens au colloque du 12 octobre 2020 sur les ‘Actualités du Droit des Affaires’ organisé par l’UCL Louvain (FuCAM Mons) Le thème de cet exposé, proposé sous la forme d’une question, nous appelle à effectuer un exercice de droit comparé destiné à mesurer le résultat de la réforme opérée par le […]
The impact of COVID-19 on Belgian companies
Following the decisions taken in the framework of the fight against the spread of coronavirus in Belgium, companies face significant difficulties in the course of pursuing their activities. Some measures have been adopted in order to limit the impact of the imposed restrictions on companies aimed at preventing the spread of the virus. In this […]
The new Belgian Code on Companies and Associations
A New Company Code On 23 March 2019, the Belgian Parliament approved a bill meant to fundamentally reshape the existing Company Code. The new Belgian Code on Companies and Associations (the ‘BCCA’) aims to make Belgium more attractive for both domestic and foreign businesses. The BCCA will increase flexibility for Belgian companies, but will require […]
UBO disclosure obligations in Luxembourg
On 1st March 2019 a law dated 13 January 2019 implementing new disclosure obligations in relation to ultimate beneficial owners (“UBO’s”) of legal entities has come into force in Luxembourg. Through this law and in accordance with EU legislation, Luxembourg has created a national register for UBO’s entailing mandatory duties and obligations for any legal […]
The reasonable period of notice in the event of the unilateral termination of a sales concession by the licensor
Companies frequently use “sales concessions” to market and/or distribute their products. The sales concession differs essentially from other forms of commercial distribution by the fact that the economic risk is borne by the dealer to which the right is granted to sell, in their own name and for their own account, the licensor’s products. A […]