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Setting up at home or in rented premises

If you are looking into setting up a business as a self-employed worker, other than using your own home, you can also rent a place rather than purchasing new premises right away. If you are looking to rent a property there are a number of focus areas for you to bear in mind, such as the space or location.

Trading in rented premises

If you decide to rent a property, you are advised to consider the Commercial Letting Act.

The Commercial Letting Act offers protection to tenants and applies to businesses that run a retail outlet or engage in craft activities that involve customer contacts at the rented property.

However, the Act is peremptory, which means that as soon as a tenancy agreement complies with the applicable statutory requirements, the Act applies without leaving room for any derogation.

In amongst other things, the statutory requirements of the Commercial Letting Act include:

  • A minimum 9-year duration
  • Specific terms of notice
  • Specific notice and renewal clauses

If you are renting a property or a location for the sole purpose of providing administrative services that do not involve customer contacts or as a wholesale business, the terms of the tenancy agreement are freely negotiable between the tenant and the landlord. Which means that the tenancy period, the terms of notice and such like are established in joint consultation. This is sometimes also referred to as a common law tenancy.

For further information on this topic, please contact your local Securex Business Counter.

Trading from your own home

As a business owner there is nothing to stop you from using your private home as your business space. A lot of people do – especially one-man businesses. Even though this is an easy solution to many, there are a couple of things to bear in mind:

  • Is your home located in an area where commercial businesses and suchlike are permitted?
  • Is your home insured in case of bankruptcy or similar misfortunes?

To protect your house, there is a purpose-devised insurance that protects the residential home of self-employed persons. We would certainly advise taking out this insurance if you are a one-man business, as well as in situations where certain types of companies remain liable for some matters (e.g. vof/snc, regular commandite companies or cvba/scrl).

Do business in a co-working space?

Are you looking for an inspiring workspace, tailor-made for you, in the Brussels region? Come and visit our co-working space Hive5, a unique concept on the market.

 

More information:

For further details please do not hesitate to contact us or call round to one of the Securex Business Counters.