Ask HN: Would you incorporate your startup in Belgium?
For those of you that have founded a SaaS-based startup in Belgium, what's it like to incorporate & run your startup in Belgium? Would you do it again?
I've always thought that incorporating & running a BV/SRL in Belgium would be a PITA, full of endless bureaucratic processes, similar to a GmbH in Germany. The fact that you have to create a projected financial plan & balance sheet for the first 2 years, that could be held against you in court in the future, when you don't even know if your startup will be around in a year, seems strange. Since I'm planning to be fully bootstrapped, it should be fine (I will still consult an accountant & lawyer just to be sure), but I have my doubts.
Some specific questions:
- How much were the initial accounting and legal fees associated with creating & running a BV/SRL?
- In the case of a BV/SRL, what happens if you decide to pivot your idea or go the "indie hacker" route where you try a new idea every X months? Do you need to update/resubmit the financial plan every time, or can the initial plan contain a more broad/vague activity description?
- Are companies in Belgium usually ok with employees working on their own startup as long as the product/industry is unrelated (on their own equipment, after work)?