Obligatory registration of syndics in Crossroads Bank for Enterprises as of 1 April 2017

Obligatory registration of syndics in Crossroads Bank for Enterprises as of 1 April 2017

The Royal Decree of 15 March 2017 providing more detailed rules for the registration of syndics (‘syndicus’) in the Crossroads Bank for Enterprises (hereafter abbreviated: "CBE") was published in the Belgian Official Journal on 24 March 2017.

Since 1 April 2017, every syndic must register in the Crossroads Bank for Enterprises, regardless of whether it concerns a professional syndic or a co-owner who has assumed the tasks of syndic. This applies for both a ´normal´ co-owners association, and sub-associations with legal personality (art. 577-3, fourth paragraph of the Civil Code). Each sub-association must register its syndic separately, even if he is the same as for the main association. This registration must be done via an authorised enterprise counter. The supporting documents for the appointment as syndic must be included. This isn’t free of charge: there is a registration fee owed for each request for registration, amendment or cancellation. 

Each newly-established co-owners association must have its syndicregister at the latest by the last working day on which his assignment begins.

Each currently-existing co-owners association (i.e. which is registered in the CBE on the date of entry into force of the Decree on 1 April 2017) is subject to a transitional arrangement. This transitional arrangement provides that currently-existing co-owners associations have a period of one year in order to fulfil this registration obligation.

The objective of this registration obligation is firstly to make the identity of syndicmore transparent for all interested parties and, secondly, to give the owners/occupants of an apartment building the guarantee that their residence is being well managed and to discourage ´mala fide´ syndics.

You can find the full text of the Royal Decree of 15 March 2017 here.

For more information on this subject you can always contact Siegfried Busscher, Ewoud Willaert and Eva Zaman.