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Digital and electronic share registers: what information is required?

Within Belgium, companies can move away from a paper share register and choose between a digital one and a fully electronic one. Corporify supports both. But what information should be included in each?

Digital share register 

The digital register must include: 

1° the total number of shares and the total number by class;
2° the name and domicile or name and registered office of each shareholder;
3° the number of shares per shareholder and the class to which they belong;
4° the payments made on each share;
5° the statutory transfer restrictions, and if necessary the transfer restrictions;
6° the transfers of shares with their date;
7° the voting rights and profit rights attached to each share, as well as their share in the liquidation balance, if this differs from their profit rights.

Electronic share register

The electronic register contains the same information as the digital register (see above), but comes with additional legal and technical requirements: 

1° a formal written decision by the board of directors is required before switching to an electronic register;
2° every access and transaction must be logged, including who consulted or modified the register, when, and for what purpose;
3° identity verification is required at the "high" assurance level under eIDAS. In Corporify, this is done via itsme®. 
4° users must have the authority to make changes, either through their role as a board member (verified against the KBO/BCE) or through a formal power of attorney. 
5° at the moment of switching, the current state of the digital or paper register must be transferred. The historical register must be retained at the company's registered office. 
6° upon dissolution of the company, a full print of the electronic register must be added to the minutes of the relevant decision.