Starting a business in Belgium: establish your presence at the heart of the EU

The private limited company – known as the SRL (Société à Responsabilité Limitée) in French and BV (Besloten Vennootschap) in Dutch – is the structure most commonly used by foreign investors in Belgium. An SRL/BV is a separate legal entity and shareholders' liability is limited to their capital contribution. There's no fixed statutory minimum capital requirement; however, founders must ensure that the company has sufficient initial funding to carry out its planned activities, to demonstrate this, must prepare and submit a financial plan.

Using a local chartered accountant to prepare this document is recommended. An SRL/BV allows for 100% foreign ownership and is suitable for operating subsidiaries, small and medium-sized enterprises (SMEs) and group holding companies.

The joint-stock company – SA (Société Anonyme) in French and NV (Naamloze Vennootschap) in Dutch – is generally used for larger, capital-intensive or regulated businesses. An SA/NV is a separate legal entity and requires a minimum capital investment of €61,500. Its share capital is divided into shares, and shareholders benefit from limited liability. This structure is typically suitable for large operational entities, holding companies and businesses considering a public listing, and is required for certain regulated sectors (such as banking and insurance). An SA/NV comes with more formal governance and reporting requirements.

A branch office allows a foreign company to operate in Belgium without incorporating a separate legal entity. The branch is considered an extension of the parent company, which remains fully liable for the branch's obligations. It must be registered with the CBE and comply with Belgian accounting and tax requirements. There's no minimum capital requirement. A Belgian branch office is often used for project-based or initial market-entry operations.

A representative office (or liaison office) may be established for non-commercial purposes. Its activities are limited to conducting market research, undertaking promotional activities and coordinating with customers or partners. It cannot carry out commercial transactions or generate revenue in Belgium. As a result, it's typically used by foreign companies testing the Belgian or EU market before committing to full incorporation.

While less commonly used by foreign investors, Belgium also recognises general partnerships (SNC/VOF) and limited partnerships (SComm/CommV). These are typically used for professional services or joint ventures and involve varying degrees of partner liability. Regulatory approval and sector-specific rules may apply, particularly where professional licensing is required.

We can work with you to identify a structure that supports both your immediate set-up and longer-term plans in Belgium. View our 'at-a-glance' comparison table outlining key information on different company formation options.

 

Brussels serves as Belgium's capital and is home to major EU institutions, including the European Commission and the Council of the EU, alongside the headquarters of the North Atlantic Treaty Organisation (NATO). This makes it an attractive location for regulatory affairs and public affairs functions, particularly where proximity to EU institutions is important.

The city also has a multilingual workforce and an established professional services sector, supporting businesses seeking to manage operations across Europe.

Antwerp is Belgium's largest municipality by population and an important industrial and commercial centre.

Its port, now part of the Port of Antwerp-Bruges following the 2022 merger with Zeebrugge, is one of Europe's largest container ports and home to the continent's largest integrated chemical cluster.

Antwerp also remains an important international centre for diamond trading, with its historic diamond district near Central Station supporting trading and related specialist services. For businesses involved in chemicals, logistics or maritime trade, Antwerp offers established industrial infrastructure and access to international supply chains.

Ghent combines a strong industrial heritage with a growing research and innovation ecosystem supported by Ghent University. The city forms part of North Sea Port, a cross-border port network connecting Belgium and the Netherlands. The port supports major industrial activities, including steel production and automotive manufacturing.

Ghent is also home to Tech Lane Ghent Science Park, which brings together research institutions and companies working in biotechnology, digital technology and other advanced industries. For businesses seeking access to industrial infrastructure and opportunities for research partnerships, Ghent may offer a suitable location.

Liège is an important industrial and logistics centre in Wallonia, with established activities in engineering, aerospace and advanced manufacturing. Liège Airport is one of Europe's largest cargo airports, specialising in pharmaceuticals, perishables and e-commerce shipments. In 2025, it handled 1.32 million tonnes of cargo, reinforcing its position as a major European airfreight hub.

The airport has also set a target of becoming one of Europe's three largest freight airports, reflecting its plans to expand operations. For businesses with significant airfreight requirements, Liège may provide a suitable base because of its freight-handling infrastructure and connections to other European markets.

Businesses investing in the wider Wallonia region may also qualify for regional investment incentives, depending on their activities and the applicable eligibility conditions. AWEX can assist foreign investors with establishing operations in the region.

Leuven, located east of Brussels, has developed into an important research and innovation centre built around KU Leuven and imec.

KU Leuven is a leading European research university, while imec specialises in semiconductor and nanoelectronics research, working with international technology companies and academic partners.

The surrounding science parks support businesses in life sciences, medical technology and other research-intensive industries. For companies seeking academic collaboration, research partnerships or access to specialist technology expertise, Leuven may offer advantages over Belgium's larger commercial centres.

Our team at Hawksford can assist you in identifying the most suitable location for setting up your business in Belgium.

Belgium's appeal differs meaningfully depending on your home market. Existing trade frameworks, bilateral relationships, sector alignment and proximity to the wider EU single market all shape the logic of entry. Below are the primary considerations for selected international markets.

The United Kingdom (UK) is an important trading partner for Belgium, with a well-established British business presence throughout Belgium. Total UK-Belgium trade in goods and services reached £59.9 billion in the four quarters ending December 2025, making Belgium the UK's eighth-largest trading partner.

Since Brexit, trade between the two countries has been governed by the EU–UK Trade and Cooperation Agreement. While the agreement provides preferential trading arrangements for qualifying goods, businesses must still meet applicable customs and regulatory requirements.

The relationship also has a significant financial services dimension. Lloyd's Brussels was established by Lloyd's of London as an insurance subsidiary regulated by the National Bank of Belgium, enabling the group to maintain access to the European insurance market following Brexit.

Beyond insurance, Belgium offers opportunities for UK businesses in areas such as life sciences, chemicals and manufacturing. UK-headquartered GSK, for example, operates three major vaccine sites in Wavre, Rixensart and Gembloux.

The British Chamber of Commerce EU & Belgium supports businesses through two main divisions: one focused on EU policy and the other on trade and investment between Belgium and the UK. UK Export Finance may also provide financial support for eligible export transactions.

Entry approach: Brussels may be a suitable location for UK businesses in financial services, insurance and professional services sector that are seeking access to EU institutions and regulatory networks. For pharmaceutical and life sciences companies, Wallonia offers an established life sciences cluster, while the Antwerp–Ghent corridor may appeal to chemical and industrial businesses.

Logistics and distribution companies may also consider locations near the Port of Antwerp-Bruges, depending on their transport requirements and target markets.

Belgium's position within the EU single market and customs union facilitates cross-border trade and investment, giving businesses access to markets across the European Union under a common regulatory framework.

Brussels is a major centre for European policymaking, home to the European Commission and the Council of the EU. Belgium also hosts 132 international organisations and 302 foreign diplomatic representations, placing businesses close to an extensive diplomatic and institutional network.

Its multilingual workforce and international transport connections can make Brussels an attractive location for businesses managing operations across Europe.

Antwerp is home to Europe's largest integrated chemical cluster, with major companies such as BASF, Covestro and ExxonMobil operating in the area.

Belgium also offers incentives for qualifying R&D activities. Its Innovation Income Deduction can reduce the effective corporate tax rate on eligible innovation income to 3.75%, while qualifying employers may benefit from an exemption from remitting up to 80% of the payroll withholding tax associated with eligible R&D personnel.

Foreign investors can seek support from three regional investment agencies: FIT, AWEX and hub.brussels.

Entry approach: Brussels may appeal to European businesses in financial services and the professional services sector that are seeking proximity to EU institutions and international business networks.

For manufacturers and industrial investors, the Port of Antwerp-Bruges and the Ghent area offer established industrial infrastructure and transport connections that can support export-oriented operations.

Belgium's trade relationships with individual members of the Association of Southeast Asian Nations (ASEAN) are supported by the EU's agreements with countries in the region.

he EU–Singapore Free Trade Agreement entered into force in November 2019, followed by the EU–Singapore Digital Trade Agreement in February 2026. The latter was signed in May 2025 and establishes additional rules for digital trade between the EU and Singapore.

The EU and Singapore have also signed an investment protection agreement, although it has not yet entered into force. Separately, the EU–Vietnam Free Trade Agreement has been in force since August 2020, supporting trade between Vietnam and EU member states, including Belgium.

The relationship between Belgium and Singapore is particularly visible in logistics. Singapore's PSA International operates major container terminals at the Port of Antwerp-Bruges, including the MSC PSA European Terminal, one of Europe's largest container terminals.

For ASEAN businesses considering European expansion, Belgium offers access to the EU single market, supported by established port infrastructure and international transport connections.

FIT, AWEX and hub.brussels can provide investment support to foreign businesses considering operations in Belgium.

Entry approach: ASEAN logistics and distribution companies may consider the Port of Antwerp-Bruges for maritime freight operations and Liège for airfreight operations.

For companies looking to establish European sales or service operations, Brussels may provide a suitable base because of its international business environment and connections to other European markets.

The appropriate location and entry structure will depend on a business's activities and wider European expansion plans.

The Mainland of China is one of Belgium's major trading partners and became its largest non-EU supplier of goods in 2024.

There is currently no EU–China free trade agreement. The EU–China Comprehensive Agreement on Investment, agreed in principle in December 2020, has also not entered into force. Businesses entering Belgium from the Mainland of China must therefore consider the applicable EU trade rules and Belgian investment requirements.

Belgium introduced a foreign direct investment screening regime in July 2023. Certain acquisitions involving non-EU investors in sensitive sectors require notification and approval before completion, depending on the investment structure and applicable thresholds.

The commercial relationship between Belgium and the Mainland of China is particularly visible in logistics. COSCO Shipping operates the CSP Zeebrugge Terminal, while Alibaba's logistics subsidiary Cainiao agreed in 2018 to establish a European logistics hub at Liège Airport.

Hong Kong has its own established economic relationship with Belgium. The Belgo-Luxembourg Economic Union has an investment protection agreement with Hong Kong, while Belgium became the first foreign jurisdiction to conclude a comprehensive double taxation agreement with Hong Kong in 2003.

Bilateral cooperation continues. In April 2026, Hong Kong's Chief Executive met Belgium's deputy prime minister to discuss strengthening bilateral relations. That year also marked the centenary of Belgium's Consulate General in Hong Kong.

Foreign businesses can seek market-entry support from Belgium's regional investment agencies, including FIT, AWEX and hub.brussels.

Entry approach: Chinese manufacturing, logistics and e-commerce businesses may consider Liège for airfreight operations and the Port of Antwerp-Bruges for maritime freight, depending on their transport requirements and target markets.

For Hong Kong businesses looking to establish financial operations, a holding company or regional management functions, Brussels may offer a suitable base. However, the choice of location and legal structure should take account of the company's planned activities, tax position and regulatory requirements.

Belgium does not have a standalone free trade agreement with the United States (US). Trade between the two countries is governed by the wider EU–US trade relationship.

Following a political agreement between the EU and the US in July 2025, the EU introduced revised tariff arrangements for certain US goods from 1 July 2026. Businesses should check the tariffs and trade measures applicable to their products, as these may change. Belgium also has an established relationship with the US through NATO. NATO is headquartered in Brussels, while the Supreme Headquarters Allied Powers Europe (SHAPE) is based in Mons.

A number of major US companies operate in Belgium, including IBM, Microsoft and Pfizer. Cisco also maintains offices in Diegem, near Brussels Airport.

American businesses considering expansion into Belgium can seek support from the American Chamber of Commerce in Belgium (AmCham Belgium), which provides business networking and policy engagement opportunities. AmCham EU focuses on representing business interests in EU policymaking, while the US Commercial Service supports US businesses seeking export opportunities in Belgium and other international markets.

Entry approach: Brussels, Diegem and Zaventem may be suitable for US technology businesses and companies establishing regional management or EU public affairs functions, particularly where access to European institutions and international transport connections is important.

For industrial and chemical businesses, the Port of Antwerp-Bruges and the surrounding industrial cluster may offer opportunities. Life sciences companies may also consider locations in Wallonia with established pharmaceutical and research capabilities.

The most suitable location will depend on the company's activities, infrastructure requirements and wider European expansion plans.

Setting up a business in Belgium involves a range of costs, which vary depending on several key factors. These include the chosen entity, your specific business activity and the region in which you plan to establish operations, whether that is Flanders, Wallonia or the Brussels-Capital Region.

Once we understand your plans, we can walk you through the expected costs of expanding into Belgium.

• Registration and incorporation fees: These include costs associated with incorporating a company in Belgium, registration with the CBE via a regional Commercial Court and publication of the incorporation deed in the Belgian Official Gazette.

• Notary and legal fees: Most Belgian companies, including the private limited company (SRL/BV) and the public limited liability company (SA/NV), require a notarial deed of incorporation, which involves notarial and related legal fees.

• Capitalisation costs: While Belgium no longer imposes a fixed minimum capital requirement for the SRL/BV, there must be sufficient initial equity to support the company's planned activities, as demonstrated by a financial plan. For an SA/NV, a minimum capital of €61,500 is required, with at least one-quarter paid up at incorporation.

• Tax and social security registration: Businesses must complete the applicable corporate tax registrations and, where required, register for VAT with the Belgian tax authorities. Employers must also register with the National Social Security Office.

• Visa and work permit costs: These may include expenses relating to professional cards, long-stay type D visas, work permits and single permits for nationals from outside the EU and EEA, as well as residence permissions where applicable.

• Office space rental: Costs for leasing office space, which vary depending on the city and quality of the premises. Brussels, Antwerp, Leuven and Ghent are generally among the more expensive locations.

• Professional fees: Costs for professional support, including legal, business set-up, payroll and accounting services.

• Other potential costs: These may include translation services, bank charges and miscellaneous administrative expenses.

At Hawksford, we follow a carefully structured approach designed to support a smooth, efficient and compliant business set-up in Belgium, customised to your specific needs and objectives. Our expert team guides you through each stage, helping to minimise potential delays and streamline the experience.

We typically begin with a detailed consultation to understand your business plans, operational requirements and long-term goals. Based on this assessment, we can provide guidance on the appropriate legal structure, such as an SRL/BV, an SA/NV or a branch office; the choice of region; and any available investment incentives or grants.

After the initial consultation, we can develop a structured implementation plan. The plan may address Belgian company law requirements, the proposed governance structure, shareholder arrangements and regulatory considerations specific to your business and industry.

Our team can then assist in preparing the required documentation, including the financial plan and articles of association and coordinate the preparation of the notarial deed with a Belgian notary. We can also coordinate with a Belgian notary for the execution of the incorporation deed and help ensure compliance with applicable legal requirements.

We can manage registration with the Crossroads Bank for Enterprises, registration for VAT where applicable and affiliation with a social insurance fund for self-employed directors. Where required, we can also support applications for sector-specific licences or permits.

When you open a corporate bank account in Belgium, we can advise on documentation requirements and coordinate with local and international banks to help streamline the process.

We can help with registered-office set-up, associated logistics and other services required to support your business operations.

After incorporation, we can assist with payroll registration, employment contracts and day-to-day operational arrangements. We also help you manage ongoing accounting and tax compliance, including corporate income tax, VAT registration and filing, as well as the preparation of statutory financial statements and the maintenance of accounting records in accordance with Belgian Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), as required.

Our team can also assist with applications for Single Permits, professional cards and residence visas for non-EU/EEA directors or employees and can liaise with the relevant regional and federal authorities on your behalf.

The overall timeline for establishing a business in Belgium can vary depending on your business structure and regulatory requirements. We're committed to managing the process efficiently so that you can plan ahead for your market entry.

• Chosen legal structure: Incorporation of an SRL/BV or SA/NV typically takes several weeks, including the preparation of the financial plan and the preparation and execution of the notarial deed. Branch registrations generally follow a similar timeframe.

• Complexity of business activity: Regulated sectors (such as financial services, pharmaceuticals or construction) may require additional licences or approvals, which can extend timelines.

• Regulatory approvals: Certain permits and incentives are administered at the regional level (Flanders, Wallonia or Brussels-Capital) and processing times may differ slightly between regions.

• Efficiency of document processing: The time it takes relevant authorities to review and approve submitted documentation also affects the overall timeline. Timely submission of complete and accurate documentation can help avoid delays.

At Hawksford, we apply a structured approach based on our experience to help your incorporation progress smoothly. Our team can provide clear guidance on the next steps and help save you time. We can also work with you to ensure all documentation is complete and submitted in the correct form, reducing the risk of delays.

• Initial planning and document preparation: Typically 1 week.

• Opening a capital account and preparing the financial plan: 4 to 6 weeks.

• Notarial incorporation and registration: Generally 2 to 3 working days.

• VAT registration and social security registration: Usually 1 to 2 weeks following incorporation.

• Visa and work permit processing (if required): Commonly 4 to 8 weeks, depending on nationality and region.

• Bank account opening: Typically, 2 to 3 weeks from incorporation when the account is opened with the same bank that provided the capital account, depending on compliance checks and bank's procedures.

While these timelines are indicative, we maintain consistent communication and proactively manage the process to support an efficient set-up within Belgium's legal and regulatory framework.

For a more accurate timeline based on your plans, please get in touch with our team.

Businesses are generally required to maintain accurate corporate records and statutory registers. Depending on the jurisdiction, these may include shareholder and beneficial ownership information, the registered office address, constitutional documents and corporate resolutions.

Businesses may also need to notify the relevant authorities of changes, such as director appointments or resignations, changes in ownership, changes to the registered office address updates or amendments to share capital.

Businesses are typically required to maintain proper accounting records and supporting documentation. Depending on the jurisdiction and company size, they may also need to prepare financial statements, which may be subject to a statutory audit.

Ongoing tax obligations may include corporate income tax, VAT or sales tax, payroll-related taxes and social security contributions. The applicable registration, payment and filing requirements depend on the nature of the business and local regulations.

Depending on the jurisdiction and the nature of their business activities, companies may need to submit annual returns, renew business licences or complete sector-specific regulatory filings. These obligations may be subject to specific deadlines and must be completed in accordance with the applicable filing procedures. Late or inaccurate submissions or failure to make a required submission can result in penalties, licence restrictions or additional regulatory scrutiny.