GSL / Offshore and International Law / Offshore zones / Western Europe / Belgium / Legislation of Belgium

Legislation of Belgium

Service packages Legislation Tax System

List of laws and regulations

Act name
Scope of law
protection of economic competition
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Tax Exchange Information Agreement (TEIA)

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List of state regulatory authorities

Belgian Government
Federal Public Service Finance
Federation of Belgian Chambers of Commerce
FPS Foreign Affairs, Foreign Trade and Development Cooperation
Business in Belgium
Belgian VAT Desk
Brussels Invest and Export
Flanders Investment and Trade
The Belgian Portal for Research and Innovation

Corporate info

Legal system
civil law
Types of entity
ordinary limited partnership - SCS/GCV; general partnership - SNC/VOF; partnership limited by shares - SCA/CVA; private limited liability company - SPRL/BVBA; public limited company - SA/NV; сooperative company - CV; cooperative company with unlimited liability - SCRI/CVOA; cooperative company with limited liability - SC/SCRL-CV/CVBA
Shelf companies permitted
Yes
Incorporation timescale for a new company
7 days
Company suffix
private limited liability company (société privée à responsabilité limitée/besloten vennootschap met beperkte aansprakelijkheid) - SPRL/BVBA
Sensitive words
identical or similar with registered company’s names; registered trademarks; names of organizations and associations
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
accounting books, minutes of board meetings and shareholders meetings
Seal required, type of seal
not required
Redomiciliation (to, from) permitted
permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
Yes / annually
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / registered office
Disclosure to local agent
Yes
Disclosure to public
No
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
Minimum issued share capital
18 550
Minimum paid share capital
6 200
Authorized capital payment deadlines
Issued capital payment deadlines
Before incorporation
Standard currency
EUR
Standard authorized share capital
18 550
Standard par value of shares
1
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
25-50%
Min. rate for corporate tax
25%
Corporate tax (in detail)
The standard income tax rate is 25%
Capital gains tax
Regular rate
Capital gains tax. Details
There is no separate tax for capital gains, some kinds of capital gains are taxable within the system of corporate taxation with various tax exemptions.
VAT
21%
VAT. Details
The standard rate is 21%, but lower rates apply to certain categories of goods and services: 6% (live animals, meat, fish, vegetables, fruit, medicine, water supply, etc.) and 12% (restaurant servicing, phytopharmacology, some kinds of solid fuel, etc.).
Withholding tax
30%/30%/30%
Other taxes
Inheritance tax; Transfer Duty upon death; Tax on Long-term Savings; Circulation Tax; Betting and Gambling Tax; Tax on credit organizations
Exchange control
No
Government fee
No
Stamp duty
12.5%

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
Yes
Requirement to file Annual Return
No
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
Western Europe
Total area
30.528 sq.km
Population
11.476.279 (2020)
Capital
Brussels
National currency
Euro
Conditional reduction of currency
EUR
Against USD
0.93 (2022)
Climate, average max and min t°
Temperate; mild winters, cool summers; rainy, humid, cloudy; avg. maximum temperature (July) +20°; avg. minimum temperature (January) -1°
Time difference from Moscow
- 1 hour
Dialing code
+32
State language
Dutch, French and German
Ethnic groups
Flemish 58%, Walloon 31%, mixed or other 11%
Literacy rate
99%
History
The medieval history of Belgium is traced back to its accession to the Kingdom of Burgundy. In the course of time the territory of the modern Belgium belonged to the Holy Roman Empire, Spain, France and the Netherlands. Belgium became independent from the Netherlands in 1830 as a result of an uprising known as the Belgian Revolution. At the end of the 19th century Belgium came to be a colonial empire with the Congo annexed under the Belgian rule. Belgium was occupied by Germany during World War I and World War II. A feature of its history is the number of wars between other European powers, which took place on the territory of the modern Belgium, causing it to be nicknamed ‘The Cockpit of Europe’. Belgium was one of the member-signatories to the Treaty of Brussels, signed on 17 March 1948, which is considered the precursor to the NATO agreement. Belgium is also one of the founding members of the EU. Both these organisations are headquartered within its territory.
Credit rating
AA-
Government type
federal parliamentary democracy under a constitutional monarchy
Executive branch
The Belgian Federal Cabinet (Government) appointed by the monarch with the Prime-Minister as its head
Legislative branch
Bicameral Federal Parliament consisting of the Senate (71 senators) and the Chamber of Representatives (150 deputies)
Judicial branch
The highest courts are the Constitutional Court, Supreme Court of Justice and five civil and criminal courts of appeal (in Brussels, Ghent, Antwerp, Liege, and Mons).
Unemployment
5,6% (2022)
GDP per capita rank
23 (2020)
Corruption perceptions index rank
73 (2021)

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