The SRL and the SA are the two most common company forms in Belgium. Both protect your assets, but they answer different projects. Here is how to decide.
SRL / SA comparison table
| Criterion | SRL | SA |
|---|---|---|
| Legal minimum capital | None (sufficient start-up funds) | €61,500 |
| Paying-up of capital | According to the financial plan | In full at incorporation |
| Incorporation | Notarial deed | Notarial deed |
| Number of founders | 1 or more | 1 or more |
| Securities | Shares | Shares |
| Transfer of securities | More regulated (articles) | Freer |
| Liability | Limited to contributions | Limited to contributions |
| Governance | Very flexible | Structured (board of directors, etc.) |
| Typical profile | Self-employed, SMEs, family projects | Large structures, capital-raising |
When to choose the SRL?
The SRL suits the vast majority of projects: self-employed person incorporating, SME, family business, consultancy company. Its lack of minimum capital and its statutory flexibility make it the default choice for most entrepreneurs.
When to choose the SA?
The SA becomes necessary when the project aims for a large size, plans the entry of investors, or requires great freedom to transfer securities. The €61,500 capital and structured governance meet the needs of large-scale structures.
The right reflex: get advice before incorporating
The choice of legal form shapes your taxation, governance and costs for years. During your free consultation, StartOffice analyses your project and recommends the most advantageous structure — and registered office location.
And the registered office?
Whichever form you choose, the location of the registered office affects your municipal taxes and your language regime. StartOffice can offer you a business address in Brussels or in the Flemish Region. More details on the page company formation costs.
Frequently asked questions
Which form is the most economical, SRL or SA?
The SRL is generally more accessible: it no longer imposes a legal minimum capital, whereas the SA requires €61,500 fully paid up. For most projects, the SRL is the most economical choice.
Which form to choose for a self-employed person incorporating?
In the vast majority of cases, the SRL is recommended for a self-employed person moving to a company: flexible, with no minimum capital and protective of personal assets. The SA is only relevant for larger projects.
Can you later convert an SRL into an SA?
Yes. A company can change its legal form during its life, for example moving from SRL to SA if the project grows. The operation is carried out by notarial deed and requires appropriate support.
Is liability the same in both forms?
Yes. In the SRL as in the SA, the liability of partners or shareholders is in principle limited to their contributions: personal assets are protected.