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Registering a company in Belgium in 2020
Doing business in this jurisdiction has the following advantages:
- Entering the European Union market;
- A stable political and economic situation;
- A high level of GDP;
- The flexible tax system.
A business registration is from 9500 €
A company registration period is from 14 daysDetailed information
Owing to its location among France, Germany, Luxembourg and the Netherlands, the Kingdom of Belgium is very closely integrated into the trading network of the European Union. This is one of the main reasons, why registering a company in Belgium is so popular among entrepreneurs from all over the world.
The state is a member of the Organization for Economic Cooperation and Development (OECD) and European Monetary Union.
The area of the Belgium is over 30.5 thousand km². The country includes the Dutch-speaking region of Flanders in the north, the French-speaking region Wallonia in the south and the German-speaking community in the east. The capital (Brussels) is bilingual.
In the far west of Flanders the coast of the North Sea with a length of 72.3 km with the port city of Ostend is located. The 2nd largest port in Europe is the Port of Antwerp.
If you want to register a company in Belgium, then take a closer look at the following economic sectors:
- Export. Belgium is among the 20 largest exporters of goods and 20 of 137 of the most competitive countries, despite a population of less than 11.5 thousand people, of which almost all are well-educated and multilingual citizens;
- Tourism. It is profitable to open a travel company in Belgium, because the state ranks 21 out of 136 countries in terms of competitiveness in this area. In addition, the Ardennes is the most visited resort region. You can take many day trips from the Belgian coast of the North Sea to neighboring France, the Netherlands or the UK;
- Mining operations. The mining of coal in Belgium has been stopped, and the production is based on the mining of granite, marble, sandstone, copper, zinc, lead and antimony. The metalworking products and textile production are of great importance at the global level. Antwerp is the world center for processing and trade in imported diamonds, as well as the center for petrochemical production in Belgium: substances for pharmaceuticals, dyes, fertilizers, plastics;
- Industry. You will succeed if you decide to open a textile factory in Belgium that processes wool, linen, cotton, synthetics, producing blankets, carpets and Flemish lace;
- Automotive industry. It will be profitable to set up a company in Belgium or to join the existing car production;
- Agriculture. Beer and cheese production.
A quarter of the area is used for growing agricultural crops (1.3% of Belgians work in this field, 18.6% in industry, the rest in tourism, service sector, mainly in trade and in transport industry).
In order to start your own business in Belgium, you need to choose one of the following business entity types:
- LLC (SPRL);
- SA (JSC);
- Starter LLC (Starter SPRL);
The easiest way to open a business for foreigners is to register a Belgian SPRL.
Those, who are planning to register a Belgian company, should consider the following tax conditions:
- Corporate income tax. Setting up a company in Belgium in 2019 has become more profitable. Starting from the tax year of 2019, income tax is levied at a rate of 29% plus a 2% crisis tax (an effective rate is 29.58%). It is much lower than the previous 33.99%. Capital gains on qualifying shares are subject to 25.50% tax. Non-qualifying shares are subject to a rate of 29.58%;
- WHT on dividends, royalties and interest: 30%;
- VAT: 21%.
If you decide to set up a company in Belgium remotely, IQ Decision experts can provide you with a qualified advisor and legal support.
To ask for a professional advice, please call our office by using the contacts listed on the site.
The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.