Individuals and companies alike are subject to the new rules that apply to doing business in Europe after the United Kingdom’s withdrawal from the EU. New rules on import and export as well as for hiring employees can shape the way in which companies run their business and it can determine some entrepreneurs to relocate their UK company to Belgium after Brexit
Belgium can be a suitable choice for those company owners who are looking for a business location that offers easy access to important EU countries and that is open to receiving and integrating foreign investors.
Our agents who specialize in company formation in Belgium
are ready to assist UK business owners who wish to relocate their company after Brexit. The goal is to provide for a smooth transition and to retain the business ties the company has in the United Kingdom
and perhaps with clients in surrounding markets, such as Ireland. Regardless of the type of company and the business field in which it activates, our team is able to provide adequate relocation solutions and to offer complete assistance during the set-up process.
Read below a set of commonly asked questions about company incorporation in Belgium and feel free to reach out to our agents for personalized advice.
What are the steps required to open a company in Belgium?
In order to relocate your UK company to Belgium after Brexit, you will need to incorporate a resident company that is the equivalent of the business form used in England. The public limited company is such an example and its Belgian equivalent is the SA/NV.
Several aspects are important for incorporation: paying the minimum share capital according to the chosen business form
, checking the availability of the desired company name and preparing the documents for registration with the Crossroads Bank for Enterprises, the Belgian trade register.
Our team can help you throughout all of these steps and with any communications and submissions that must be done in French or the two other recognized languages in Belgium, depending on the region in which you incorporate the company.
What are the most important business regulations?
Starting with January 1st 2021, UK nationals who wish to work in Belgium and/or reside for more than three months will need to obtain proper residence permits before coming to the country. Self-employed individuals will need to have a professional card before they move to the country. However, UK entrepreneurs who are only looking towards setting up a business in the country will be able to do so within the permitted timeframe to remain in the country without the permit. Should they wish to remain in the country to manage the relocated business full-time, they will need to apply for the proper permits and our team of company formation agents can answer some of the most important questions related to this process.
Apart from observing these new entry requirements following Brexit, investors need to be aware of the general corporate requirements, such as taxation – presented below, and annual reporting. The tax year in Belgium is the accounting year, which can be the same as the calendar year or another 12-month period. Companies file a tax return no later than six months after the end of the financial year and corporate tax is prepaid. VAT
returns are filed monthly or quarterly and the due tax is paid at the same time.
How are companies taxed in Belgium?
Corporate taxation is an important issue when choosing to relocate the business. UK company owners should be well aware of the applicable taxes for Belgian companies. Below, our company formation experts list the most important taxes:
- - 25%: the corporate income tax applicable to resident companies in the country; the same rate also applies to branches;
- - 25% or 0%: the capital gains tax rate; capital gains on assets derived by individuals who perform business activities is generally the same as that for corporations;
- - 30%, 15%, 0%: the variable withholding tax for dividends, interest and royalties; the default rate can be reduced under a tax treaty;
- - 21%, 12%, 6%, 0%: the different rates of the value-added tax according to the provided goods and services; there is no VAT on exports.
If you would like to know more about taxation and compliance before you open a company in Belgium, please feel free to reach out to us for more details.
UK companies that are looking for better prospects for continuing to run their business within the EU can look towards relocation to Belgium after Brexit. The country offers multiple advantages, among which access to talented employees, ease of doing business and an international and multilingual business environment.
Contact our agents
if you are interested in relocation and are looking to know more about company formation in Belgium.