Opening a business bank account in Belgium: Belgian or foreign company

Cash contributions blocked before the notarial deed

Business bank account in Belgium describes the euro account of a company registered with the Crossroads Bank for Enterprises, or of a foreign branch, used for payments, salaries and VAT. It opens after checks on the articles, directors and beneficial owners listed in the UBO register. For an SRL or SA, cash contributions are first paid into a special blocked account, and the bank certificate is attached by the notary to the deed.

To set up an SRL or SA, cash contributions are paid into a special blocked account in the name of the company being formed. The bank issues a certificate, the first item in the company bank account file, that the notary attaches to the deed, then releases the funds once the company exists.

An SRL with no minimum capital, an SA at 61,500 euros

Since the 2019 Code of Companies and Associations, the SRL has no minimum capital but needs sufficient starting equity and a financial plan. The SA keeps a minimum capital of 61,500 euros, which the bank sees in the deposit certificate.

CBE number, VAT and publication in the Belgian Official Gazette

Once incorporated, the company receives an enterprise number from the Crossroads Bank for Enterprises, which also serves as its VAT number. The bank checks this number, the extract published in the Official Gazette and the directors' signing powers.

The UBO register kept by the FPS Finance

Directors declare to the FPS Finance UBO register the individuals who hold at least 25% or control the company. Banks consult this register and must report discrepancies between its contents and what they find themselves.

A foreign company with a branch or establishment in Belgium

A French or non-European company opening a branch registers it with the CBE and files translated articles. The Belgian bank then also reviews the parent company's accounts, its shareholder register and the activity planned in the country.

Three bank refusals: the basic banking service for businesses

Since 2021, a business refused by at least three banks can apply to the Basic Banking Service Chamber within the FPS Economy, which designates a bank to open an account. This route is closed if the business already holds an account in the EU.

Bancontact terminals and online payment collection

A Belgian shop must be able to accept electronic payments, and Bancontact remains the most used in-store method, which weighs on the choice of a Belgian business account. For a terminal or online solution, the provider asks about the sector, expected volumes and delivery times.

What KBC Bank expects from a young company

A young SRL presenting KBC Bank with its financial plan, its directors' identities and its shareholding breakdown makes opening easier; the bank's business offer includes an account, company cards and payment tools.

Bookkeeping, e-invoicing and the link with the account

Since 2026, structured electronic invoicing has become the rule between VAT-registered Belgian businesses. Accounting software connects to bank accounts to match payments and invoices, which also eases the bank's internal checks.

Corporate tax and dividends paid abroad

A Belgian company pays corporate tax at the standard 25% rate, with a reduced rate for SMEs under conditions. Dividends paid to a foreign shareholder in principle bear withholding tax, which tax treaties can reduce.

Documents to gather for a business bank account in Belgium

The file starts with the company's articles, the extract published in the Belgian Official Gazette and the enterprise number. The bank also asks for the make-up of the board or management and the signing powers of each person allowed to use the account. These documents must be consistent with each other, because a mismatch in the company name or address is enough to delay the review.

Directors and beneficial owners also provide an identity document and, depending on the bank, recent proof of address. For a structure held through several companies, the full ownership chart is often requested so that the bank can trace the individuals behind it. It is better to prepare these documents before the first meeting than to supply them piece by piece.

Finally, the bank wants to understand the business: target customers, suppliers, payment countries and expected volumes. A short financial plan, a quote or a signed contract makes these explanations more credible. In practice, the length of the review varies with the institution and the complexity of the structure, and no bank can guarantee in advance that it will open a business account in Belgium.

Questions to ask before opening a company bank account

Before settling on an institution, ask for the details of account fees, company cards, SEPA transfers and foreign-currency operations. Compare online banking access too: the number of possible users, separate rights for the accountant and the manager, and exports that work with your bookkeeping software. Write down each answer so that you can compare offers on an equal footing later on.

Then ask how the bank treats companies owned by foreign shareholders or managed remotely. Some require a visit to a branch, others accept remote identity checks. Ask who will follow the file and which additional documents may be requested once the account is open. Make a note of the delays quoted as well, since they differ between branches.

Lastly, raise the question of incoming payments: the conditions for a Bancontact terminal, an online payment solution, cash deposits and the crediting times of incoming transfers. These points, rarely detailed in brochures, weigh heavily in the real cost of a company bank account over several years, far more than the advertised monthly price alone. Ask for this in writing before you sign anything.

Common mistakes with a business account in Belgium

The first mistake is to approach the bank before the UBO register is up to date: any discrepancy between the register and the shareholder's statements triggers extra questions. The second is to file untranslated or incomplete articles for a branch, which forces you to start the process again and lengthens the timeline. Anticipate these checks together with the notary and the accountant.

A vague description of the activity also hurts. Writing simply "services" or "trading" without naming customers or countries pushes the bank to ask for details, or even to decline. Likewise, a company with no visible link to Belgium, no usable address and no real activity is examined with more caution by the compliance team. A simple, verifiable explanation is always better.

Finally, do not multiply applications without a strategy: after several refusals, the basic banking service procedure described above can become useful, provided you keep the refusal letters. Always keep a written record of the exchanges, the documents sent and the reasons given by each institution for your Belgian business account. This precise record also helps with any later appeal.

Tax reporting, CRS and FATCA for a company

European banks pass information about accounts held by non-residents to their tax authority under the CRS and, for US taxpayers, FATCA. A company may be asked to complete a self-certification stating its tax residence and, where relevant, its beneficial owners. These exchanges of information are automatic and do not depend on which bank you choose, so they should be anticipated rather than avoided.

Answering this questionnaire precisely avoids blockages later. Shareholders who live outside Belgium remain subject to the rules of their own country when declaring their shares and the dividends they receive, and this general information cannot replace personalised advice suited to their situation. A mistake in a declaration can lead the institution to ask for additional supporting documents, which delays everyday operations.

Before taking any step, check the conditions with the chosen bank and with the competent financial supervisor, because requirements change. A Belgian accountant or tax adviser will confirm the company's obligations on VAT, corporate tax and the declaration of beneficial owners linked to its corporate account in Belgium. Keep these confirmations in your file for later reference.