ABOUT BELGIUM

Amongst all the countries in the European continent, Belgium is a relatively small nation by area, but it holds significant economic and political influence. It is strategically located and plays a central role in European affairs. The capital of Belgium is Brussels, which is also the de facto capital of the European Union, hosting major EU institutions. According to the World Bank, Belgium is classified as a High-Income Nation. The currency of Belgium is the Euro (€). The population of Belgium is approximately 1.16 crores as of 2022. The neighbouring countries of Belgium are France, Germany, Luxembourg, and the Netherlands. The most commonly spoken languages in the country are Dutch, French, and German. The majority of the Belgian population practices Christianity (primarily Roman Catholicism), but other religions and non-religious stances are also present. Currently, there are several international airports in Belgium, with Brussels Airport (BRU) being the largest, offering regular flights to numerous parts of the world. The air connectivity of Belgium is highly convenient. As Belgium has a coastline along the North Sea, it boasts several commercial seaports, with the Port of Antwerp-Bruges being one of the largest in Europe, fulfilling the trade requirements of the country. A lot of goods and resources are imported and exported through Belgium’s sophisticated seaport infrastructure.

The standard corporate tax rate in Belgium is 25%. However, a reduced rate of 20% applies to small and medium-sized enterprises (SMEs) that meet certain conditions. Opesh Group of companies will be helping you in the completing Due Diligence process which includes financial planning, registration process, business options and if required even helping you find a Rental property for your office.

Establishing a business in Belgium has to be done with utmost care keeping in mind the laws of the country. Belgian company law is well-established and outlines how a foreign investor can register a company in Belgium. A foreign investor who is planning to start their business in Belgium can form many different companies and types in the country such as an LLC (Besloten Vennootschap/Société à Responsabilité Limitée – BV/SRL), Public Limited Company (Naamloze Vennootschap/Société Anonyme – NV/SA), Partnership business, and Cooperative. A Limited Liability Company (BV/SRL) formed and registered in Belgium typically allows foreign investors to own 100% of the company, though specific regulations may apply.

In case an investor is planning to establish an LLC in Belgium or a corporate business setup, Opesh Group will be helping you in taking the right decision for setting up your business in Belgium and we will also guide you about how to follow the procedure while formulating your company in Belgium.

Types of Business which can be started in Belgium-

Logistics & Distribution – Due to its central location in Europe and excellent infrastructure (ports, road, rail, air), Belgium is a premier logistics hub. Investing in warehousing, distribution centers, and freight forwarding offers significant returns.Biotechnology & Pharmaceuticals – Belgium has a strong reputation for innovation in life sciences, with a robust ecosystem of research institutions, pharmaceutical companies, and biotech startups. This sector offers high-growth potential for investors.Information & Communication Technologies (ICT) – With Brussels being a major European hub, there is a constant demand for IT services, software development, cybersecurity, and digital solutions. Belgium has a skilled workforce and a supportive environment for tech companies.Renewable Energy – Belgium is committed to transitioning to sustainable energy sources. Investments in wind power (onshore and offshore), solar energy, and energy efficiency solutions are highly encouraged and offer long-term opportunities.Research & Development (R&D) – Belgium actively promotes R&D across various sectors, offering tax incentives and grants for innovative projects. Companies focused on advanced materials, engineering, and scientific breakthroughs can find a fertile ground.Food & Beverage – Belgium is renowned for its culinary traditions (chocolate, beer, waffles). There are opportunities in food processing, specialty food production, and export-oriented food businesses, catering to both local and international markets.Chemicals & Plastics – The chemical industry is a cornerstone of the Belgian economy, with significant investments in research and sustainable production methods. Opportunities exist in specialty chemicals, recycling, and advanced plastics.Tourism & Hospitality – Belgium attracts millions of tourists with its historic cities, cultural attractions, and culinary scene. Investing in hotels, guesthouses, tour operators, and specialized tourism services can be profitable, especially in popular destinations like Bruges, Ghent, and Brussels.Advanced Manufacturing – Belgium has a strong tradition in manufacturing, with a focus on high-tech and specialized production. Opportunities exist in areas like automotive components, machinery, and precision engineering.

Advantages of Starting Business in Belgium-

Strategic Location – Belgium’s central position in Western Europe makes it an ideal gateway to the wider European market, offering excellent connectivity to major economic centers.Strong Economy & High Purchasing Power – As a high-income nation, Belgium boasts a stable economy and a population with significant purchasing power, creating a robust consumer market.Excellent Infrastructure – Belgium possesses a highly developed infrastructure, including world-class ports (Antwerp-Bruges), extensive road and rail networks, and efficient airports, facilitating trade and logistics.Skilled and Multilingual Workforce – Belgium has a highly educated and productive workforce, with a high degree of multilingualism (Dutch, French, German, and English are widely spoken), making it easier to communicate and conduct international business.Favorable Business Environment – The Belgian government actively supports foreign investment through various incentives, tax breaks, and a clear legal framework. The ease of doing business is generally high, though navigating local regulations requires careful attention.Access to EU Market – Being a member of the European Union, establishing a business in Belgium provides unrestricted access to the vast single market of the EU, encompassing over 450 million consumers.Innovation and R&D Hub – Belgium invests heavily in research and development, fostering an environment of innovation. This is particularly attractive for companies in high-tech, biotech, and pharmaceutical sectors.Political Stability – Belgium maintains a stable political environment, which provides a secure and predictable landscape for long-term business investments.

Business Opportunities for Indians in Belgium-

There are excellent business opportunities in Belgium for new investors who are planning to start their business abroad. Belgium has opened its doors for foreign businesses and foreign investors, and Indian investors can find vast opportunities across various sectors. They can invest in areas such as IT services, pharmaceuticals, logistics, and specialized manufacturing. The strong bilateral ties between India and Belgium also create a conducive environment for business collaboration.

Imports & Exports-

Many goods are imported and exported from Belgium. Imports and exports business is an ever-growing business in any country, however, you need to do proper R&D before investing in that product which you can import or export. You need to check whether that product is suitable for your target market and how much revenue you will be able to generate from that market.

Major items which are exported from Belgium to India-

• Machinery and Mechanical Appliances
• Chemical Products (Pharmaceuticals, Organic Chemicals)
• Pearls, Precious Stones, Metals
• Plastics and Articles Thereof
• Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus

Major items which are imported in Belgium from India-

• Mineral Fuels, Mineral Oils and Products of Their Distillation
• Textile Articles (Apparel, Home Furnishings)
• Organic Chemicals
• Machinery and Mechanical Appliances
• Iron and Steel Products
• Pharmaceutical Products
• Electrical Machinery and Equipment

Manufacturing-

Many products are manufactured in Belgium for both domestic consumption and export. Indian investors can explore setting up manufacturing plants in sectors such as pharmaceuticals, specialized chemicals, automotive components, and advanced materials, leveraging Belgium’s skilled workforce and proximity to the European market.

Mining-

While Belgium is not a major mining country like Algeria for traditional raw materials, it does have some quarrying of building materials. More significantly, it is a global hub for the processing and trading of diamonds and other precious stones, offering specialized investment opportunities in this niche.

Major Indian companies which are currently working in Belgium-

• Major Indian IT companies (e.g., Tata Consultancy Services, Infosys, Wipro) have a significant presence, catering to the European market.
• Pharmaceutical companies have established operations or partnerships.
• Several Indian companies are involved in logistics and trading.

GDP = $627.5 billion (approx. as of 2023) GDP Growth = 1.0% (approx. as of 2023) Ease of doing business rank = (Typically in the top 50 globally, exact rank varies annually) GDP per Capita = $53,700 (approx. as of 2023)

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