Short answer
A partnership (maatschap / societe simple) is a company without legal personality. No notary, no publication, no minimum capital. Most common use: estate planning (parents transfer assets to children while retaining control).
Advantages
No notary required
Incorporation with a private agreement
No minimum capital
Start without any investment
Maximum discretion
No publication in the Official Gazette
No annual accounts
No need to file them
Ideal for estate planning
The perfect tool for succession and family asset management
Simple
Quick to set up and manage
Disadvantages
No legal personality
The partnership itself cannot enter into contracts or own property; the partners do
Personal liability
Partners are liable with their personal assets
Risk upon death
The partnership can be dissolved when a partner passes away (unless the articles of association state otherwise)
No CBE publication
Discreet, but also means that third parties cannot look up the partnership
When to choose?
- You want to transfer assets to the next generation while retaining control
- Doctors, lawyers or architects want to share a joint practice
- You want to collaborate without a heavy structure or costs
- You want to manage an investment portfolio or real estate within the family
When not?
- Your activity carries financial risks: choose a BV
- You want to hire staff or enter into large contracts
- You want protection of your personal assets
3. Not sure?
Most entrepreneurs hesitate between a few legal forms. Here are the most common comparisons.
A partnership is cheaper and more discreet (no notary, no publication), but does not protect your personal assets. A BV does. Choose a partnership for estate planning or collaboration between liberal professionals, a BV for commercial activities with risk.
Both have unlimited liability. The difference: a VOF has legal personality and is published, a partnership does not. A partnership is more discreet, a VOF more formal.
How many partnerships are there in Belgium?
View the exact figures, top cities, popular sectors and age distribution.
View the statistics →4. Frequently asked questions
What is a partnership (maatschap)?
A partnership (maatschap / societe simple) is a company without legal personality, set up with a private agreement. No notary, no publication, no minimum capital. Ideal for estate planning and collaboration between liberal professionals.
Is a partnership the same as a VOF?
No. A VOF does have legal personality and is published. A partnership does not. Both have unlimited liability for the partners.
Why is a partnership popular for estate planning?
Because parents can contribute their assets and donate the shares to their children, while retaining management control. No notary required, no publication, maximum discretion.