Belgium is one of the most developed countries in Europe. The country hosts the headquarters of the European Union and NATO. It is also home to many United Nations organizations. The country, known for its high cost of living, has more than 11 million residents and a GDP of almost $500 billion.
Why Register Your Business in Belgium?
There are several reasons why registering a business in Belgium makes sense.- Strong neighbours – Belgium neighbours Germany, Netherlands, Luxembourg, and France. These are some of the most important countries in the European Union.
- Developed infrastructure – Belgium has a highly-developed infrastructure that makes it easy to do business.
- Many organizations – Belgium is host of many influential organizations like the UN, NATO, and European Union.
- Tax Cuts – Belgium has high taxes. However, these taxes are scheduled to decline in 2020.
- Purchasing power – Belgium consumers have one of the biggest purchasing powers in Europe.
How to Register a Company in Belgium
Registering a company in Belgium is very easy and can be done by a company like GFRS. As with most countries, the process starts with a business name search. The name must be in English, Dutch, German, and French. These are the main languages used in Belgium.
After conducting the name search, you need to specify the type of business you want to register. We will look at these types below. After selecting the type of business, you should submit the documents that are required. These documents are:
- Your identification card.
- Residency information if you are a foreigner.
- Official address of the company.
- Memorandum of association.
- Minimum capital requirements.
After doing this and getting the authorization, you should pay the minimum amount of money that is required.
Types of Businesses You Can Register in Belgium
There are a number of types of businesses that you can register in Belgium. These are:
- Sole proprietorship – These are small companies that are typically operated by a single individual.
- Foreign branch of a company – These are international companies that want to have a branch in Belgium. The branch must have a representative in Belgium on behalf of the company. No minimum capital is needed.
- Public limited company (PLC) – The minimum capital is EUR 61,500.
- Private limited liability company (PLLC) – This is set up by two or more people. This is favoured by small-to-medium-sized companies. The minimum amount of capital needed is EUR 18,500.
- Starter Limited Liability Company – This can be formed by just one person. It is similar to private limited company but the minimum capital is EUR 18,500.
FAQs on Company Registration in Belgium
What is the corporate tax rate in Belgium?
The corporate tax rate in Belgium is 33% but the government has announced its plans to reduce it to 25% in 2020. This is slightly higher than the EU average of 22%.
Who can start a business in Belgium?
Anyone aged over 18 can start a company in Belgium. Foreigners too can provided that they have the required documents.
How long does it take to register a company in Belgium?
It takes less than a week to register a sole proprietorship. For complex companies like PLCS, it can take up to 6 months.
Must you be present to register a company in Belgium?
No. You don’t need to be physically present. You can use an attorney or a company registration expert to register the business for you.
Please complete the form and an expert will get back to you within 24 hours.
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