What happens after the notary has executed the deed?

Once the notary has executed the deed of incorporation, your BV legally exists — but the practical implementation remains. Within eight days, you must notify the UBO, the notary handles registration with the Chamber of Commerce, you apply for a VAT number, open a business bank account, take the first board and shareholder resolutions, and arrange the legal infrastructure (shareholders' agreement, general meeting, management agreement). This process typically takes two to four weeks after the execution.

Anouk thought she was done after the notary. Not quite. On her BV's first working day, the Chamber of Commerce registration was finalized, but the VAT number didn't arrive until three weeks later, and the business bank account took another two weeks on top of that. Below is the full list of what you arrange after the transfer — in order.

The short answer

1. Chamber of Commerce registration (by a notary, on the same day or within 24 hours).
2. UBO notification (required within 8 days).
3. Apply for VAT number (granted within 1–3 weeks).
4. Open a business bank account (1–3 weeks processing time).
5. First board and shareholder resolutions.
6. Legal infrastructure (shareholders' agreement, management agreement, General Meeting).
7. Insurance, accountant, payroll administration.

Step 1: Chamber of Commerce registration

The notary almost always arranges the registration with the Chamber of Commerce immediately after the transfer. You will receive a Chamber of Commerce extract with your Chamber of Commerce number — from that moment on, your BV is also visible to third parties. The extract serves as your official proof of identification for banking partners, suppliers, and the tax authorities.

If the notary has not done this, you must do it yourself — pay attention to the deadline. Also activate your SBI codes (the main activity codes) immediately; banks and insurers ask for these.

Step 2: UBO notification

The UBO (Ultimate Beneficial Owner) must be reported to the Chamber of Commerce within eight days of registration. This applies to natural persons with > 25% economic interest or control over the BV. Late reporting results in a fine (amounting to thousands of euros).

The notary usually does this automatically during registration. If they have not done so, arrange it yourself immediately via the online UBO notification with the Chamber of Commerce.

Step 3: Apply for a VAT number

You will not receive the VAT number immediately: the Tax and Customs Administration assigns it after its own assessment, usually within 1–3 weeks. Sometimes you will receive an additional questionnaire for the assessment of your VAT liability.

No VAT number = you cannot formally invoice with VAT yet. In the meantime, you can issue quotations; explicitly state that the VAT number is pending.

Step 4: Business bank account

Banks conduct their own AML checks before opening a business account. Expect a processing time of one to three weeks, sometimes longer for international shareholders or complex structures. What you need:

• Chamber of Commerce extract and articles of incorporation.
• UBO overview.
• Identification of directors.
• Description of your activities (often more detail than on the Chamber of Commerce register).
• For international shareholders: additional documents.

Tip: start the bank application immediately after the Chamber of Commerce registration is complete; the bank check often runs parallel to the VAT application.

Step 5: initial board and shareholder resolutions

Not sexy, but important:

• Board decision to open the bank account, establish the financial year, and hire an accountant.
• Shareholders' resolution appointing the Board of Directors (formal, in accordance with the Articles of Association) and, where applicable, determining the directors' remuneration.
• a shareholders' register — virtually mandatory, and useful to maintain.

The notary often provides a set of basic templates upon incorporation. Keep them digitally and on paper.

Step 6: legal infrastructure

The documents you want with it almost immediately:

• Shareholders' agreement for multiple shareholders — see what is a shareholders' agreement.
• Management agreement between you (privately or via holding company) and the BV — see management agreement.
• General terms and conditions for your customers — see drafting general terms and conditions.
• Privacy statement if you have a website or customer database.
• Employment or contract for services for employees or self-employed professionals.

Engage a lawyer to set up this infrastructure correctly the first time — preventing you from relying on half-baked solutions later.

Step 7: Practical matters

• Liability insurance for directors and the company itself.
• Accountant for the annual accounts and corporate income tax return.
• Payroll administration if you have employees or receive a salary as a director/major shareholder.
• Domain name, email, phone number.
• Provisions for the eventual sale or succession — not relevant today, but within five years.

Honest recommendation

The notarial incorporation is the start, not the finish. Plan enough room for the first month after the signing: Chamber of Commerce, UBO, VAT, bank account, and the legal infrastructure. A shareholders' agreement is not an extra option with multiple shareholders — you arrange that in the first two weeks, not in month six.

For the entire incorporation process: step-by-step plan for setting up a BV in 2026.For the legal infrastructure: shareholders' agreement, management agreement , and general terms and conditions.

Frequently Asked Questions