Short answer
An NV (Naamloze Vennootschap / SA) is the company form for large businesses that want to raise capital or go public. Minimum capital: EUR 61,500. Shares are freely transferable.
Advantages
Freely transferable shares
Easy to attract investors or sell shares
Stock exchange listing possible
The only company form that can be listed on the stock exchange
Issue bonds
Can issue bonds and other securities to raise capital
Strong credibility
The high minimum capital inspires confidence in banks, clients and suppliers
Limited liability
Shareholders only risk their contribution
Professional governance
Board of directors ensures a clear structure
Disadvantages
EUR 61,500 minimum capital
Must be fully paid up at incorporation
Incorporation costs EUR 2,000-5,000
Notary required
Board of directors mandatory
Or a sole director since the CSA reform
Governance obligations
Minutes, reporting and strict procedures
Statutory auditor
Mandatory if you exceed certain thresholds (revenue, staff, balance sheet total)
Rigid articles of association
Less freedom to include non-standard rules
When to choose?
- You want to take your company public
- You want to issue bonds or other securities
- You have many shareholders and want shares to be freely tradeable
- The law requires it: banks, insurers, certain financial institutions
- You want to project maximum credibility to large clients or investors
When not?
- You are an SME or startup: a BV is cheaper, more flexible and sufficient
- You do not have EUR 61,500 in starting capital
- You want to keep the administration simple
- You work with a small team and have no external investors
3. Not sure?
Most entrepreneurs hesitate between a few legal forms. Here are the most common comparisons.
The BV is more flexible, cheaper and sufficient for most businesses. Only choose an NV if you want freely tradeable shares, plan to go public, or the law requires it. The BV has no minimum capital; the NV requires EUR 61,500.
Both are suitable for many shareholders. The difference: in an NV, capital determines voting rights; in a CV, every partner has an equal say. Choose an NV if you want to reward investors proportional to their contribution, a CV if democracy is central.
Some entrepreneurs consider a holding company in Luxembourg or the Netherlands. A Belgian NV is more transparent, benefits from the reduced SME rate (20%), and avoids the complexity of international structures. For most businesses, a Belgian NV or BV is the better choice.
How many NV's are there in Belgium?
View the exact figures, top cities, popular sectors and age distribution.
View the statistics →4. Frequently asked questions
What is an NV in Belgium?
An NV (Naamloze Vennootschap / SA) is a company with a minimum capital of EUR 61,500, freely transferable shares and a mandatory board of directors. It is the company form for large enterprises and listed companies.
What is the difference between a BV and an NV?
The main differences: an NV has a minimum capital of EUR 61,500 (BV: no minimum), shares are freely transferable (BV: restricted), and an NV can be listed on the stock exchange. For most businesses, a BV is better suited.
Can I set up an NV on my own?
Yes, since the CSA reform an NV can be established by a single person. Previously, at least two shareholders were required.
How much does it cost to set up an NV?
Expect EUR 2,000 to 5,000 in notary and incorporation costs, plus the EUR 61,500 minimum capital that must be fully paid up.