Belgium
General Information
Area – 30,528 sq. km
Population – 11.2 million people
Capital – Brussels
Official languages – French, Dutch, German
Official currency – Euro (EUR)
Key Aspects
Each overseas investor must know that Belgium is one of the best places in Europe to start business. Tax regime is reasonable, and the Belgian government offers many possibilities and privileges to create the best climate for overseas investors who want to open a firm in Belgium.
Incorporating a firm in Belgium has recently become widely popular among entrepreneurs. Business in Belgium has many advantages, for instance, joining the EU, political stability, and economic independence. A licence is required to operate as a bank and an insurance company as well as to do sea transportation business.
Belgium concluded treaties for the avoidance of double taxation with many countries.
Company Type
Limited Liability Company (SPRL/BVBA)
Corporate Legislation
Commercial Code 1872
Companies Act 1935
Main Requirements for Company Directors and Shareholders
Legal status – a legal entity
There should be at least one founder and one shareholder (for a SPRL). Status – a natural person or a legal entity. Residence –may be residents of any country.
Governing Bodies
There should be at last one director (for a SPRL)
Status – a natural person or a legal entity
* The registered office and address must be in Belgium.
Authorised Capital
For a Limited Liability Company – EUR 18,550
Accounting
A company must maintain accounting records. Preparation and filing of reports – on request.
– File annual accounts.
– File annual financial audit.
Taxation
The standard value-added tax rate in Belgium is 21%. However, there are preferential rates of 12% and 6% that can be applied in certain cases.
Dividend tax is 25%; however, under certain conditions it may be lowered to 15%.
Corporate tax rate ranges from 28.84% to 40.17%.
Questions that need to be answered to prepare incorporation documents
∙ Passport details of the founders
∙ Passport details of the directors
∙ Photocopy of the ID pages of the founders’ and director’s international passports
∙ Types of the firm’s activity
∙ Utility Bill of the directors and founders, current email addresses and phone numbers
∙ Several proposed firm names