Newsletter 01-2017

Dear reader, please find herewith our Newsletter with the following content:

The preservation of foreign
bank accounts is made easier

As from 18 January 2017, it is possible to proceed with preservation of bank account(s) of a debtor holding one or more bank accounts in another member state of the European Union.
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Road book on private mergers and
acquisitions in Belgium (part 2)

The (legal) Due Diligence and
Sale and Purchase Agreement

Once the initial “pre-contract” agreements as referred to in the first part of our M&A road book have been executed, a next phase of the route of the private M&A transaction starts, namely the due diligence and the sale and purchase agreement.
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Introduction of a new vehicle for
investments in real estate
The “FIIS” in a nutshell

As from 29 November 2016 it is possible to set-up a fiscally transparent investment vehicle in Belgium, enabling Belgian and foreign “qualified investors” to invest in Belgian and foreign real estate, whilst enjoying an appropriate tax regime.
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The records of bankruptcies will be kept in a
Central Insolvency Register

Bankruptcy files will soon be held and followed up entirely electronically in a Central Insolvency Register.
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Extension of the several liability
for payment of the salary

Principals, contractors and subcontractors should amend and complete their contracting agreements in order to be exempted from the several liability, introduced by the law of 11 December 2016, for the payment of the salary due to the workers of their contracting party.
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New salary ceilings as from 1 January 2017

The salary ceilings are adapted annually, as from 1 January, in consideration of the evolution of the salaries, as fixed in accordance with the collective labour agreements for the private sector.
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Ikea Act in all Regions adapted
with the "Services" Directive

The legislation on commercial activities has been adapted to comply with the "Services" Directive in all Regions of Belgium.
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The reintegration of
long-term sick persons
Reintegration in the company

In order to get long-term sick persons back to work a number of special procedures have been introduced.
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New obligations for assignment of workers

Cross-border assignment of workers is often branded as a source of fraud and unfair competition. The European union tried to do something about it by enacting – after a first directive dated 16 December 1996 (96/71/EC) – another directive (2014/67/EU). Belgium has now – be it, again, somewhat late – amended the legislation accordingly. Does that avert the evil?
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We hope you enjoy the reading and we invite you to discover the other online publications on our website
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