Belgium is a prosperous country with world-class living standards and serves as Europe’s gateway. Belgium is a full-time member of the European Union and the Schengen Zone, with its headquarters in Brussels. Belgium is a very business-friendly country with a strategic location that is good for commerce and exports. In comparison to surrounding EU countries, the country has reasonable real estate costs and is a top investment destination. Belgium’s currency is the euro, and French is commonly spoken. The diamond cutting industry is well-known in Antwerp. Every year, millions of people visit Bruges and Ghent.
Foreign businessmen can get Belgian citizenship by investing in the country’s economy, according to the Belgium Residence Program. A residency permit is required to start a new business or expand an existing one. You can put your money into one of Belgium’s three regions: Brussels, Wallonia, or Flanders. After 5 years of permanent presence on Belgian territory, the ability to earn Belgian citizenship by investment is granted. The investor must demonstrate mastery of one of Belgium’s official languages as well as participation in the country’s economic and social life.
The Belgian resident program necessitates an investment of EUR 350,000 in Belgian industries and companies, as well as the creation of jobs. Belgium is a case-by-case solution with pricing that varies. Payments are made in phases, however the first year of business formation might easily cost up to EUR 200,000, the second year EUR 100,000, and so on.
There are no real estate or other passive investment opportunities in Belgium; the sole choice is to go into a company. Entrepreneurs and business investors who want to launch a European company in Belgium should apply for the Belgium program. It works in Belgium through forming businesses and producing jobs.
Foreigners (non-EU nationals) can apply for a professional card permit in the investor or business categories, which normally entails investing in an existing Belgian firm or forming a new Belgian company with an office. You can simply qualify for a Belgian residence visa under paid activities as a director of your company. Investors who start their own company must wait 3-4 months for their residency visa to be obtained.
Even though the Belgium Residence Program (BRP) has no residency requirements and does not need you to stay or live in Belgium, you can still apply for Permanent Residence (PR) or a passport. For example, if you have a business in the UAE, you may like to stay in the UAE for the majority of the time yet visit or live in Belgium whenever you want without having to apply for a visa.
Types of Companies to Invest in
The most common company types in Belgium are the BVBA (LLC) and SA/SPRL. The Belgian BVBA corporation operates similarly to a Limited Liability Company, with a minimum share capital of EUR 18,600. The tax rate is roughly 30%, and Belgian statutes require yearly reports to be made every 12 months. You can significantly reduce your tax liability with smart tax preparation.
Documents Required When Applying for a Golden Visa in Belgium
- Proof that you are a member of the European Union.
- Identity proof that is valid
- a passport photocopy
- Proof of residence in Belgium
- Proof of a spouse or partner’s family relationship, marriage, or partnership.
- Proof demonstrating the applicant’s descendants, such as children under the age of 21, and ascendants, such as parents, are financially reliant on him.
- a medical certificate from a Belgian Embassy or Consulate-General-recognized doctor
Direct costs of starting a business range from €10,000 to €20,000, plus an annual renewal charge of €5,000, rent of around €6,000 per year, administrative and running expenditures of around €1,000 per year, salaries, and other expenses.
- After legally residing in Belgium for five years.
- When applying for citizenship, applicants must meet the language requirement.
- A Belgian passport confers full EU citizenship, allowing you to live and work in Europe.
Belgium is a popular destination for international migrants, with people from all over the world wishing to settle there. This is attributed to good living standards, a pleasant climate, and a favorable investment and business environment. Furthermore, you can obtain EU citizenship in a short period of time (just for 5 years). Furthermore, one of the advantages of obtaining a Belgian passport is that you do not have to relinquish your previous citizenship. Dual citizenship is not permitted in all European countries.