Belgium is located in the heart of the European Union and as such a strategic gateway to Europe’s 500 million customers. Flanking France, Germany, the Netherlands, and Luxembourg and at a short distance to Great Britain, Belgium is situated at a convergence of probably the greatest economies on the planet. This makes Belgium a fertile destination for business establishments
This blog will explain the top 5 reasons that make Belgium the most favorable spot for your investments
1. BELGIUM CONSUMERS – THE CREAM OF EUROPEAN MARKET:
Although with 11.4 million population, Belgium is a very small country contrasted with its European neighbors. But within a 300-mile span, organizations can reach 140 million buyers, which represents 60% of Europe’s purchasing power.
Belgium is a consumer-centric hub. In the wake of the emergency, buyers have given expanding significance to product prices. With the arrival of development and a stable economy, quality products are given preference.
The level of education is among the highest in OECD countries with 75% of adults have a secondary education and 36.5% have higher education. Buyers are more loyal to vehicles and beautifying brands over food brands. About half of the populace is pro-active on social channels. Digital media subsequently helps consumers learn about new products & services as they prefer not to wait for the brands to educate them. 62% of the populace believes in the experts on data protection.
2. WORKFORCE AVAILABILITY:
Workforce Participation Rate in Belgium expanded to 69.30 percent in the second quarter of 2019 from 68.40 percent in the principal quarter of 2019. Belgium has been noted for its accomplishment in the top-ranking score in the list is one with the striking labor market. Belgium holds 25th spot (out of 75) in the worldwide positioning, and fourteenth spot (out of 40) for the EMEA region (Europe, Middle East, Africa) & in terms of productivity, stands 53rd globally. The legitimate system has improved, especially with the law on “practical and feasible work”, which offers organizations greater adaptability.
3. THE EXPORT ARENA:
With an aggregate of €18 billion in export value of earnings, Belgium is relied upon to rank among the world’s best 10 exporting nations in 2020, as indicated by the most recent report on world trade. It was the thirteenth most significant export country, with trades worth more than EUR 400 billion. That is about 2.5 percent of the world’s combined merchandise exports – Surprising, for a nation with under 0.2 percent of the total populace.
International trade represents roughly 70 percent of Belgium’s economy. About 80% of Belgium’s export business is with individual EU part states. Belgium’s biggest export trade markets are the European Union and the United States. The opportunity lies in Automotive Energy, Environmental Technology, Information & Communications Technology, Advanced Logistics / Infrastructure, Prepared & Packaged Foods.
4. EXPATS SWEETSPOT TO SETTLE:
Belgium reliably scores well in all the fundamental markers of good living and is a great area for expats to live. Great healthcare is broadly accessible. Belgium’s multicultural demography gives its capital Brussels a positive vibe with a variety of international services and facilities that offer to ease in comforts of an expat. It’s likewise viewed as less expensive than the US. It’s likewise reasonable to live. Brussels, where numerous expats decide to base themselves, are less expensive than other western European capitals, for example, London, Copenhagen, Vienna, and Zurich.
5. TRANSFORMATIONAL TAX SYSTEM
Business-friendly tax benefits make Belgium one of the most alluring spots to set-up a business. The tax reform in Belgium introduced several tax measures spread out over three years. Some have been up & running, while some are about to launch
Some of them are:
- Reform of the corporate income tax (CIT) regime in Belgium
- Reform of Belgian company law and related tax adjustments
- The tax consolidation regime
- Implementation of DAC6 which is pending
- Reform of the Cayman Tax etc,
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