How to start a business in Belgium.

How to start a business in Belgium.
More and more Russians are choosing Belgium to start their own business. Belgium is a country with a high standard of living, (unaccustomed) social and political stability, with characteristic multilingualism and multinationality of the population.
In Belgium, not only a successful geographical position: from Brussels you can quickly get to Paris, Frankfurt, Geneva or London. For foreign businessmen, favorable conditions have been created for conducting currency transactions, the simplest procedure for obtaining a residence permit for businessmen and the possibility of having dual citizenship. “Justification” in Belgium is a convenient “platform” for the further development and promotion of its business in Europe.
The most popular areas for the opening of a new business are international trade, as well as all business in the field of transportation. Russian businessmen, many of whom are in Belgium, often deal with real estate.
Employment, entrepreneurship, investments in a local company and the creation of one’s own company are the most common ways of working and then obtaining a residence permit. Creating your own company involves your formal employment. There are no registered programs for business immigration in Belgium, that is, there are no formal definitions of what “business”, “business experience”, “businessman” and other conditions are. This gives a certain freedom and choice of actions. Thanks to a favorable investment climate, tax preferences, a wide network of treaties on avoidance of double taxation and a reliable banking system – business immigration to Belgium is a very feasible project.
In Belgium there are 4 main forms of societies: societes:
– Private Limited Liability Company (S.P.R.L.)
– private limited liability company in one person (S.P.R.L.U.)
– Cooperative Limited Liability Company (S.C.)
Each of the above-mentioned companies differs in their rights, in the fiscal regime, in the status of managers and shareholders, in the degree of responsibility, etc.
The largest number of societies in Belgium (about 115,000) is S.P.R.L. To create this society, at least one Shareholder is required, either a natural or a legal entity, but, as a rule, there are two or more founders.
To open a company in Belgium of any type, you need to do the following:
– to certify the certificate of establishment of the company and file for publication in the official statements (Memorial).
– open an account in the bank. The authorized capital must be fully indicated when the company is established. The authorized capital must be contributed to the bank account. The minimum payment is.
18,600 euros. This amount does not need to be paid in full, you can put the mandatory first 30%, that is about 6000 euros. This money can be spent solely on the activities of the company. If you make a material contribution, then the expert’s conclusion is necessary. This application is also entered in the constituent certificate. The procedure for depositing capital must be confirmed by a notary (for this, a bank document is required to add capital to the account of the company being established).
– to acquire a legal address for your company in Belgium. Accounting books must be kept at this address. To do this, you do not always need to rent an office. Most often, the future legal address is determined at the first general meeting of shareholders, after which it is entered in official documents and a bulletin. When opening a new business, lawyers and auditors usually provide their companies with a legal address.
When opening a company, two founders are needed: either legal entities or individuals. It can be both citizens of the Kingdom, and foreigners. The account of the company of founders should be opened only in the Belgian bank. The legal address of the company can also be exclusively in Belgium. The founders themselves may not permanently reside in the country.
The balance sheet of the company must be compiled annually, including there reports on the financial position and all the results of the company’s activities. It should reflect the financial position and performance of the company. In Belgium, there is a privilege for holding companies, which allows you to provide a report on the reduced form. Employees of the company do not need to be citizens of the Kingdom. Foreign citizens, officially registered, may also be employees of the company.
Residence permit in Belgium.
One of the frequent reasons for registering a company in Belgium is the liberal citizenship law. After three years of permanent residence in the country – the minimum period in the European Union – you can apply for citizenship. Naturally, this is possible only with a physical residence in the country, a properly functioning company, the availability of a source of income in the country and the timely payment of all taxes to the treasury. The acquisition of Belgian citizenship in the order of the declaration (regardless of other conditions) is possible after seven years of residence in the country.
For Russians, there are three main types of work permits that entitle you to a residence permit in Belgium:
1. Type A, for employees for an unlimited period.
2. Type B, allowing only one employer to work for one year.
3. Type C, for employees for a period of one year with the right to renew.
The law governing the acquisition of citizenship is called the Code of Belgian Nationality. Get the citizenship of Belgium can be after three years of residence in the country, but, again, with a functioning business that makes a profit. The application for citizenship must be submitted directly to the Belgian Municipality.
With business immigration to Belgium, Belgian citizenship can be exercised as a second citizenship. At the same time, you can have one more citizenship in the territory of the European Union.
One of the main reasons that makes opening a business in Belgium so attractive for foreign businessmen is an extremely liberal, despite high interest, taxation system. This system is subordinated to all residing in the country and having real estate or income. Employees and managers from other countries residing in Belgium on a temporary and permanent basis receive tax benefits. In addition, only the income earned on the territory of Belgium is taxed, not including income outside of Belgium.
There are several main types of taxes in Belgium:
1. Personal income tax: payroll tax.
2. Local taxes (communal taxes): go together with income taxes.
3. Property tax: based on a hypothetical annual rental value.
4. Vehicle registration tax: when registering a car, both new and second-hand.
5. Road tax: calculated according to the horsepower of the car and the size of the car.
6. VAT: 21%, except for such goods as food, medicine and public transport: they go as 6%.
As we see, there is no property tax, a tax on net capital, a capital gains tax distributed on shares, there is almost no Inheritance tax and a gift tax. All of the above is called a “favorable investment climate.”
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