Administrative steps to take when discontinuing your business

You’ve thought about it carefully, looked at all the possibilities and pursued all the potential solutions. But at the end of the day, you’ve made the difficult decision: you’re going to bring your business activities to an end. You know there are going to be different steps involved. You know there will be strict deadlines. There’s just one thing you’re not sure about: what you need to do.

Untangling the red tape

Prepare yourself. Discontinuing your business activities means heading back into the labyrinthine world of administrative formalities and deadlines. What do you need to do? When do you need to do it? And how? Make an appointment with the Securex Business Counter and we will gladly help you take care of it all as quickly and smoothly as possible. And if you want to tackle it on your own? The following guide will get the ball rolling.

Report the cessation of business activities

Make sure the Crossroads Bank for Enterprises (CBE) officially lists your business as having come to a stop. It’s easy to do at your nearest Securex Business Counter. You’ll need the date you’ll be officially discontinuing, plus your company registration number. If you had any permits for itinerant trading of fairground activities, you’ll need to bring these in too. This must be done within one month of the date you are discontinuing your business activities completely.

Notify your Social Security Fund

You’ll receive official notification of the cessation of business activities. Use it to end your enrolment as a self-employed person at your social security fund. And don’t take too long doing it: you only have fifteen days from the conclusion of your activities.

End your partnership

Were you in a partnership? In this case, different rules apply. When you bring your role as director or manager to an end, you still need to provide evidence. You can use a copy of your resignation as it appeared in the Moniteur belge. You’ll also have to sign a declaration specifying the cessation of your role in any activities.

Inform your personnel

Did you have personnel? Are they going to be affected? Read more about the implications for your employees here and make sure you abide by the law.

If you have further questions about discontinuing business activities, feel free to contact us at Securex. We will be glad to help in any way we can.