Belgium, a Western European Country and a member state of the European Union, is one with an advanced high-income economy. The country is known for the high standards of living, life quality, education and healthcare it achieves. It is also characterized as very high in the Human Development Index. This country offers a lot of attractions to tourists and a welcoming, multicultural and open business atmosphere.
Not only is Belgium economically buoyant, but it also ranks as one of the most peaceful and safest countries in the world. All these are definitely indicators of the fact that establishing a business venture in this country can only be a lucrative move. Among the types of commercial companies that may be established and operated in Belgium is the Limited Liability Company (LLC).
The Belgian Limited Liability Company – locally known as “Société PriVée a Responsabilitée Limitee (SPRL)” – is the most common type of business operated in the country. This is due to the fact that setting up one is a relatively easy process, provided the due procedures are well followed and all necessary documents are properly submitted. Also, the SPRL offers numerous benefits to its owners and shareholders.
A benefit of a Belgian LLC is that it allows for 100% (total) ownership of the business by foreigners. This means that foreign investors are treated the same way as their Belgian counterparts under the law, with equal rights to have complete ownership of the entire business.
To set up an LLC in Belgium, a minimum share capital of EUR 18,550 is required. This is a relatively low amount, which might, however, be raised by the government, should they consider it insufficient for the business. Then, a Belgian LLC allows for having only one shareholder, who may also be the only director.
Another benefit of setting up a Limited Liability Company in Belgium is that the liabilities of shareholders are limited to their subscribed capital contributions. This way, liabilities are equally divided and no shareholder will incur more loss than the other, with respect to their level of investments in the company.
For a Limited Liability Company in Belgium, there are no corporate income taxes. Due to this, business owners will be able to avoid “double taxation” effects resulting from the payment of taxes both as a business entity and as an individual. This ultimately results in more returns and income for the investors and shareholders in the company. Moreover, specific SME (Small and Medium-sized Enterprise) measures are taken to give support to SMEs and entrepreneurs.
One other noteworthy benefit of setting up a limited liability company in Belgium is the benefits accrued to it for being a member of the European Union. This factor alone increases opportunities to do business with other member countries and surely comes with added advantages.
So, are you in need of a profitable business enterprise that is easy to set up, very open to foreigners and located in one of the world’s safest countries? Then setting up a limited liability company in Belgium is just the thing to do.