Opening a company in Belgium
Belgium is located at the political center of the European Union and is the most cosmopolitan of European countries. This may go some way to explaining the country’s strongly market-oriented approach to company incorporations. Authorities impose relatively loose restrictions on foreign companies operating within the country. It is also the richest European nation, with the exception of Luxembourg.
For more information on how to open a company in Belgium, contact us.
What are the main types of companies in Belgium?
- Joint Stock Company (SA/NV)
- Limited Liability Company (SPRL/BVBA)
Foreign companies can also operate in Belgium through a controlled subsidiary (under Belgian law) or a branch (under the legislation of their country of origin).
What is the minimum capital for a SA/NV?
For branches, the minimum capital is €61,500, which must be fully subscribed. No minimum capital is required for a branch.
What are the formalities to be completed for an SA/NV?
- Incorporation with notarial deed
- Statute to be published in the Belgian Official Journal
- Documents to be drawn up in French or Dutch depending on the area
- Mandatory two-year financial plan
- For branches, the parent company must open a bank account in Belgium
What else is required for an SA/NV?
- At least two members and a board of directors and three administrators
- Annual accounting review
- No residency or nationality restrictions for foreigners
- A local office is recommended. Click here for more information.
What is the minimum capital for a SPRL/BVBA?
The minimum capital for a SPRL/BVBA is €18,600, of which at least €6,200 must be subscribed.
What else is required for an SPRL/BVBA?
- At least one member
- It is possible to have only one sole administrator
- Partners are only liable for contributions made to the company
What other types of companies can be formed in Belgium?
The other main commercial entity is the European Economic Interest Grouping (EEIG), a cross-border partnership comprising partners from various European countries. No share capital or separate financial statements are required, and each partner pays taxes individually.
Why invest in Belgium?
How easy is it to hire staff in Belgium?
The country has an advanced personnel selection system, including for office secretarial work. Labor costs are high, and significant insurance benefits are guaranteed through high contributions to the national insurance system for both employers and employees. In Flanders, the most prosperous region in the Netherlands, there is a high demand for specialized workers, especially in the IT and technical sectors. In contrast, in Wallonia, France, there is high unemployment, especially for unskilled general workers. Click here if you need assistance with personnel selection.
What is the applicable regulatory and legislative framework?
Belgium guarantees the freedom to set up a company and transfer capital to all foreign companies and to any foreign investor wishing to establish themselves in the country with a view to carrying out a commercial or industrial operation.
- No authorization is required except for some specific sectors such as banking, insurance and transport
- foreign capital can be brought into the country without restrictions
- no authorization for joint ventures and takeovers
- various preferential tax regimes
Opening a bank account in Belgium
What are the banks like?
Efficient banking services are available to those who need to open their own company in Belgium, and it is possible to access financing services to acquire or raise capital.
What financial incentives are available for setting up a company in Belgium?
Financial incentives are available but vary greatly depending on the area.
- Flanders offers financial assistance to SMEs to establish themselves in industrial or developing areas. Financing is also available for large companies. Additional incentives are available for companies operating in biotechnology and environmental protection.
- Wallonia offers assistance with the purchase of land, houses, equipment and with investment costs related to the project; aid is also available for investments in areas such as product development, patents and market research.
- Brussels can offer investment loans, temporary tax exemptions in some cases, interest-free loans for industrial research, loans for hiring certain special categories, and assistance with technical and linguistic training for staff.
How can I get more information about setting up a company in Belgium?
If you’re interested in opening a company in Belgium , contact us and we’ll be happy to discuss the details of your project.