New procedure for company registration number removal

Important update from the Crossroads Bank for Enterprises (CBE): a new procedure is in place for ex officio striking off company registration numbers. What does this mean for you? Let's break it down.

What has changed?

The CBE management service now has the authority to strike off entities that have not met their obligations for entering or updating data in the register of ultimate beneficial owners (UBO register). Here are the criteria for these strikes:

• Entities that have not provided UBO information within 60 days after receiving an administrative fine (due to lack of/incorrect UBO registration).
• Entities that fail to confirm their UBO registration annually.
• Entities that fail to provide UBO information and have not published anything other than annual accounts in the Belgian Official Journal for seven years

In action

This new procedure is already in effect. In the first round, nearly 21,000 legal entities felt its impact. Another 8,000 will follow in a second wave.

What happens next?

If your entity gets struck off, you will need to fix the problem to reactivate your registration. For UBO-related strikes, this means providing all missing information. It is worth noting that an administrative striking off does not dissolve the entity. It retains its rights and obligations.

Why it matters

This measure helps identify dormant or ghost companies. Compliance with UBO regulations is crucial for all Belgian entities, nonprofits, foundations, and their directors.

How we can help

Do you have questions about UBO regulations or the ex officio strike-off process? Our team of experts is here to support you. Do not hesitate to reach out to us.

Stay compliant and stay informed!