The SA (public limited company) is the reference form for businesses of a certain size, for projects requiring capital-raising or a shareholder base set to evolve. StartOffice supports you from A to Z in setting it up.
What is an SA?
The public limited company is a capital company whose capital is divided into shares. The liability of the shareholders is limited to their contribution. Its structure makes it easy to bring in new investors and transfer shares, making it a vehicle suited to growth and financial partnerships.
Minimum capital of the SA
Unlike the SRL, the SA imposes a minimum capital of €61,500, which must be fully subscribed and paid up at the time of incorporation. A financial plan is also required and submitted to the notary. This level of capital is one of the decisive criteria in the choice between SA and SRL.
Why choose the SA?
- Financial credibility: substantial capital reassures investors and partners.
- Flexible shareholding: shares are easily transferred and assigned.
- Structured governance: board of directors, sole director or two-tier system.
- Suited to growth: ideal for welcoming new capital and investors.
- Liability limited to the shareholders' contributions.
The steps to set up an SA
- Financial plan justifying that the resources match the project.
- Drafting the articles of association: corporate purpose, capital, type of governance.
- Paying up the capital of €61,500 and bank certificate.
- Notarial deed of incorporation.
- Registration with the CBE and VAT activation via an accredited business counter.
- Registration in the UBO register — declaration of the ultimate beneficial owners.
- Affiliation with a social insurance fund for directors, within three months of acquiring legal personality.
Registered office: Brussels or the Flemish Region?
As corporate income tax is federal, it does not depend on the region. The location of the registered office does, however, determine municipal taxes, the company's language regime and access to certain regional incentives. StartOffice can offer you a business address in Brussels or in the Flemish Region.
How much does it cost to set up an SA?
Beyond the capital, incorporation involves notary fees, publication in the Belgian Official Gazette and registration with the CBE. Find the detail on our page company formation costs.
SA or SRL?
If your project does not require significant capital or an evolving shareholder base, the SRL is often more suitable and more economical. Compare both forms in our guide SRL or SA: which to choose?.
Set up your SA with StartOffice
StartOffice coordinates the notary, the accountant and the administrative formalities through a single point of contact. You benefit from negotiated rates and complete support, from the free consultation to the launch of your public limited company.
Frequently asked questions about setting up an SA
What is the minimum capital of an SA in Belgium?
The public limited company requires a minimum capital of €61,500, fully subscribed and paid up at the time of incorporation. This is the main financial difference with the SRL.
Can you set up an SA with a single shareholder?
Yes. Since the Code of Companies and Associations, the SA can be set up and held by a single shareholder, individual or legal entity.
What is the difference between an SA and an SRL?
The SRL no longer has a legal minimum capital and offers great statutory flexibility; the SA imposes a capital of €61,500 and is better suited to large structures, an evolving shareholder base and capital-raising. Our "SRL or SA" guide details the comparison.
How is an SA managed?
The SA can be run by a board of directors, by a sole director, or under a two-tier system (supervisory board and management board). The choice is made in the articles of association according to your governance.
Is a notary required to set up an SA?
Yes. Like the SRL, the SA is incorporated by notarial deed. The notary checks the articles of association, the financial plan and the paying-up of the capital.