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Registrar
Organization name
Abbreviation
Country
Belgium
Phone
About
Belgium
Capital
Official languages
Population
Currency
ISO 4217
Brussels
Dutch, French, German
11,491,346 (as of July 2020)
Euro
EUR
FAQ
Q: What types of companies can be formed in Belgium?
A: The most common types of companies that can be formed in Belgium are limited liability companies, joint-stock companies, and partnerships.
Q: What are the requirements for registering a company in Belgium?
A: The requirements for registering a company in Belgium include at least one founder, a registered office address in Belgium, a company name that complies with local laws, and payment of the relevant registration fees.
Q: How long does it take to register a company in Belgium?
A: The registration process for a company in Belgium can take approximately 1-2 weeks.
Q: What are the documents required to register a company in Belgium?
A: The documents required include the company's Articles of Association, details of the company's founders, a registered office address, and payment of the relevant registration fees.
Q: Can foreigners own a company in Belgium?
A: Yes, foreigners can own and operate a company in Belgium.
Q: What are the tax implications of forming a company in Belgium?
A: Companies in Belgium are subject to corporate income tax, which is currently set at a rate of 25%. There are also various incentives and exemptions available to companies that qualify.
Q: What are the ongoing compliance requirements for a company in Belgium?
A: Companies in Belgium are required to file annual financial statements, maintain accurate financial records, and comply with various reporting and disclosure requirements. There may also be industry-specific regulations and compliance requirements.
Q: Can I use my Belgian company to do business outside of Belgium?
A: Yes, you can use your Belgian company to conduct business anywhere in the world, as long as you comply with the relevant laws and regulations in those jurisdictions. However, you may need to obtain additional licenses and permits to operate in certain countries.
Economy
Belgium has a strong and stable economy, with a GDP of $521.7 billion in 2019. This makes it the 22nd largest economy in the world. The country has a high standard of living, with a GDP per capita of $48,845 in 2019. Belgium has a highly developed social market economy, with a large public sector and a strong emphasis on private enterprise. The country has a strong industrial base, with manufacturing accounting for around 20% of GDP. The services sector is the largest contributor to the economy, accounting for around 70% of GDP. Belgium has a highly developed financial sector, with a large number of banks and insurance companies. The country is a major exporter of goods and services, with exports accounting for around 80% of GDP. Belgium has a strong trade relationship with its European neighbors, with the EU accounting for around 70% of its total trade.
Taxation
Belgium has a comprehensive tax system that includes both national and local taxes. The tax system is administered by the Federal Public Service Finance, which is responsible for the collection of taxes and the enforcement of tax laws.
Corporate taxation:
- Corporate tax rate: 25% on profits
- Reduced rate for small companies: 20% on profits up to €100,000
- Withholding tax: 30% on dividends, interests, and royalties paid to non-residents
- Tax year: Calendar year
Personal taxation:
- Progressive tax rates ranging from 25% to 50%
- Social security contributions of 13.07% on gross salary, with a cap of €57,280
- Wealth tax on net worth over €1,320,000
- Tax year: Calendar year
Process and calendar for payments:
- Corporate tax returns are due within 6 months of the end of the tax year.
- Advance tax payments must be made quarterly for companies with taxable profits exceeding €1 million.
- Personal income tax returns are due by June 30th of the year following the tax year.
- Final tax payments are due by October 31st of the year following the tax year for individuals who file electronically.
- For companies, final tax payments are due within 9 months of the end of the tax year.
Late filing or non-payment of taxes can result in penalties and interest charges.
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