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“Finance leasing” of movable and immovable property is subject to specific legislation in Belgium, namely Royal Decree No. 55 of 10 November 1967 regulating the legal status of companies specialising in finance leasing. The five cumulative criteria to be met under Article 1 of this Decree determine whether or not the company falls within the scope of this RD.
Commercial companies wishing to professionally perform finance leasing activities as lessors are subject to prior recognition by the Minister of Economy.
The conditions for this recognition, such as the submission of contracts and the possession of a certain capital, are determined by the Ministerial Decree laying down the conditions to be met by companies specialising in finance leases, whose legal status is regulated by Royal Decree No. 55 of 10 November 1967.
Procedure for applying for recognition
You can submit your request for recognition to the FPS Economy at the following email address: sfin@economie.fgov.be.
If your company meets the conditions for recognition, you will receive a copy of the ministerial decree recognising your company as soon as it is published in the Belgian Official Gazette, within two to three months of the application for recognition (indicative deadline).
If your company does not meet the conditions for recognition, you will receive a detailed message from the FPS Economy stating why recognition cannot be granted.
Documents to be provided with the application for recognition
- The standard application form, completed and signed: Application for recognition for finance leasing (mod. 6) (DOC, 106 KB);
- A completed model lease agreement with representative figures and dates, and if applicable, with an accompanying payment table;
- The most recent financial statements (or the financial plan for recently established or future companies).
How long does it take to get a decision on a recognition application?
Applications for recognition are processed as quickly as possible. However, the nature of the recognition procedure requires a ministerial decree to be drawn up and, once signed by the minister, it is published in the Belgian Official Gazette, which generally takes two to three months.
Approvals are granted from the date of publication in the Belgian Official Gazette.
Validity of recognition
The recognition is valid for an indefinite period but can be revoked if the recognised company no longer complies with the recognition conditions. This can be appealed to the Council of State.
For further information, please contact the department in charge at any time at +32 2 277 83 74 or +32 2 277 85 01, or by email: sfin@economie.fgov.be.
