The SIS is for both existing organisations, set up as non-profit organisations ASBL , a foundation or a cooperative, and for project owners who wish to start up socially innovative activities.
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The societal impact company has many advantages for the business structure such as a better legal protection, an appropriate fiscal framework and access to public procurement contracts. This type of business is subject to strict obligations in terms of transparency and governance. The societal impact company SIS is for all natural or legal persons association, foundation, etc. All public limited companies, limited liability or cooperative companies who meet the requirements of the social and solidarity economy can receive accreditation as a societal impact company.
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To create a societal impact company SIS , you will need to carry out certain formalities, which are also required for setting up a business in general. These are, among others:. However, and in addition to the requirements in terms of integrity, the the Ministry of the Economy General Directorate for SMEs and Entrepreneurship will assess the qualification of the business manager in the area of activity in the business permit application.
The law on societal impact companies does not change the requirements in terms of the minimum share capital for commercial companies.
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