The Liberal Exercise business (SEL) is a legal framework reserved for regulated liberal professions, enabling its members to carry out their activities as Capital businesses (SARL, SAS, SA, SCA).

As such, it exists different forms of SEL :

• Private practice limited liability company (SELARL), modeled on the limited liability company (SARL)
• Private practice company with single-person limited liability (SELARLU), modeled on theSingle Person Limited Liability company (EURL)
• Simplified share-based business of practice (SELAS), modeled on the Simplified Share business (SAS) model
• Single-person simplified share-based liberal exercise business (SELASU), modeled on the Single-Person Simplified Share business (SASU)
• Anonymous Liberal Exercise business (SELAFA), modeled on the public limited company (SA)
• Business of liberal practice in limited partnership by shares (SELCA), modeled on the limited partnership (SCA).

Despite the similarities it shares with commercial businesses, the SEL presents peculiarities imposed by the liberal nature of the profession, in particular:

• The SEL is a business reserved for regulated liberal professions, the capital and voting rights of which are majority held by the professionals who actually carry out their activity there. The remainder of the capital may be held by other persons or third-party entities (other professional not practicing in the SEL, former health professional having practiced in the SEL, spouse of a professional, etc.).
• SEL benefits from the capital businesses regime (tax on businesses, financial liability limited to contributions, etc.) while retaining a civil object.
• The partners of the SEL are not not traders.
• More than half of the share capital and voting rights of the SEL must be inmate of practicing professionals within the business, either directly or through a professional financial participation business (SPFPL).
• SEL's directors are chosen from among partners practicing the profession.
• Each associate of the SEL is personally responsible the professional acts that he performs. The business is jointly and severally responsible with them.
• The procedure for approving new partners shall be governed by specific majority rules (majority of 3/4 in SELARL, majority of 2/3 in SELAS...).
• Before registering at RCS: titleContent, the SEL must have listed on the table of the professional order or have received approval of the competent authority.
• Once a year, the SEL shall send to the competent authority for registration with the professional order or approval to which it belongs, a state of the composition of its share capital and related voting rights, as well as updated version of its statutes. It also transmits agreements containing clauses relating to the organization and powers of the management, administrative or supervisory bodies which have been amended during the previous financial year.

Since 1^er January 2024, any SEL partner must be identified by a Siren number. He must therefore register as a partner of SEL and not as an individual contractor, on the company formalities window.

Window of company formalities

Previously taxed in the category of wages and salaries, their remuneration paid by the business on account of the exercise of the liberal activity (known as " technical remuneration ") is now classified as non-commercial profits (NCB).