History of BelgiumBelgium has a population of 11 million and is located to the north of France. It was one of the founding nations of the European Union in which it occupies a key position as home to several European institutions (the Commission, the EU Parliament and the Council). Belgium is a constitutional monarchy and despite its small size is ranked among the 30 strongest economies in the world.
Belgium as an Onshore Financial Services TerritoryBelgium taxes its companies at a similar rate to France (which is within the average for developed onshore countries). However, the country is a very popular destination for tax expatriates because there is no wealth tax or capital gains tax. Belgium is therefore a recommended jurisdiction for clients with substantial capital wealth where they may live tax free (though any income will be subject to local taxation).
Types of Belgian CompaniesCompany formation in Belgium is carried out by an accountant and a notary who draft the articles of association and before whom documents must be signed.
|Legal Entity||Share Capital||Number of Shareholders, Members or Partners|
|Limited Liability Company (BVBA)||18,550 EUR minimum||Minimum of one shareholder, limited liability.|
|Public limited company (NV)||61,500 EUR minimum||Minimum of two shareholders, limited liability.|
General partnership (VO)
|Not Applicable||Minimum two partners. Unlimited liability for debts and obligations, liability is joint and several.|
Limited partnership (CV)
|Not Applicable||Partners are jointly and severally liability for invested capital only.|
|Cooperative company with unlimited joint liability (SCRIS)||No minimum share capital||Maximum of three shareholders, joint liability extends to private wealth, no limited liability.|
|Limited liability cooperative company – SCRL (BVBA/SPRL)||18,550 EUR minimum||Maximum of three shareholders, liability limited to share capital|