The Belgian economy is growing at a rate of about 1% each year, and the country’as top priority sectors for economic development include:<\/p>\n
- \n
- biotechnology<\/li>\n
- agri-food sector<\/li>\n
- environmental technology<\/li>\n
- pharmaceutical sector<\/li>\n
- information communications technology (ICT<\/abbr>)<\/li>\n
- transport and logistics<\/li>\n<\/ul>\n
If you think this\u00a0looks like a good opportunity for your business, here’s all you need to know about exporting to Belgium…<\/p>\n
<\/p>\n
The pros and cons of exporting to\u00a0Belgium<\/h2>\n
The strengths of the Belgian market are mainly:<\/p>\n
- \n
- strategic central European location<\/li>\n
- open economy<\/li>\n
- early adopter of new technologies<\/li>\n
- excellent transport network<\/li>\n<\/ul>\n
If you’re thinking of exporting there, there are several advantages for UK business, including:<\/p>\n
- \n
- strong and long standing trade relationship<\/li>\n
- proximity and easy transport links<\/li>\n
- English is widely spoken<\/li>\n
- barriers to market entry are low<\/li>\n
- population with a high disposable income<\/li>\n
- close to top decision makers in international organisations such as the European Union (EU<\/abbr>) and North Atlantic Treaty Organization (NATO<\/abbr>)<\/li>\n<\/ul>\n
And the best news is, there are no major challenges – if your product does well in the UK there’s every chance it’ll succeed in Belgium.<\/p>\n
If\u00a0you\u2019re looking to do business in Belgium,\u00a0you\u2019ll need a reliable and cost effective conference call<\/a> provider \u2013 here\u2019s how to set up a conference call between the UK and Belgium<\/a>.<\/p>\n
Opportunities in Belgium<\/h2>\n
The administrative formalities to set up a business in Belgium takes 3 days, and there are several ways you can do business in Belgium:<\/p>\n
- \n
- Export directly<\/li>\n
- Appoint a local partner or distributor<\/li>\n
- Set up a local subsidiary<\/li>\n
- Operate through a branch<\/li>\n
- Joint venture<\/li>\n<\/ul>\n
No prior authorisation is needed to set up a company except for certain specific types of businesses including banking, transport and insurance.<\/p>\n
And there are currently good opportunities available in the following sectors:<\/p>\n
- \n
- Chemical and life sciences<\/li>\n
- Energy<\/li>\n
- ICT<\/li>\n
- Security<\/li>\n
- Construction<\/li>\n
- Food and drink<\/li>\n<\/ul>\n
Tax and customs\u00a0in\u00a0Belgium<\/h2>\n
Tax<\/h3>\n
There are certain tax considerations you must take into account when doing business in Belgium. Value Added Tax (VAT) is set at a rate of 21%, but a reduced rate of 12% is applied to agricultural products and social housing. A rate of 6% is applied to certain other supplies, including\u00a0\u00a0basic foodstuffs, water, hotel services, and property restoration.<\/p>\n
Corporation tax stands at a rate of 33.99%, and income taxed is based on a person’s net amount of professional income.<\/p>\n
Customs<\/h3>\n
No import duties are applicable as Belgium is a member of the EU single market.<\/p>\n
- transport and logistics<\/li>\n<\/ul>\n
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