Belgium is one of the most developed countries in Europe, and Brussels is a city with a very diverse culture.
If you plan to export your business, there are many reasons to grow your business in Brussels. When done properly, the benefits of expanding activities abroad outweigh the risks. Choosing where to export or expand your business internationally is a key decision. As the capital of both Belgium and the European Union, Brussels may just be the location you’re looking for!
Here are 9 things to know before starting your business in Brussels :
- Culture
Brussels has a vibrant lifestyle and distinct cosmopolitan atmosphere. It offers fine arts, a diverse selection of museums, concerts, festivals, theatrical performances, etc. Despite Belgium’s tiny size in comparison to other countries in Europe or worldwide, Brussels is a vibrant city that hosts hundreds of events throughout the year. Many expats live in Brussels, increasing the city’s international perspective.
Multi-lingual, multicultural, multi-talented: meet Brussels’ workforce, ranked second for talent among the world’s leading economies. You can build your business team quickly and efficiently by tapping into this top European talent and skill base.
Brussels’ 1.2 million-strong, highly educated population generates and attracts a vast, international talent pool. English is widely spoken as a second or third language and is used as lingua franca in virtually all businesses.
Belgium ranks second for talent among the world’s leading economies – for education spending, health infrastructure and services, employee training, and female labour force.
- Business culture
Business meetings, work-life balance, business communication – all different aspects that are so important for Belgian business culture.
Here are some recommandations :
- Appointments are required.
- The person you’re meeting will normally select the time for the appointment, which is usually in the middle of the day or early afternoon.
- Meetings should be avoided during the vacation months of July and August, as well as the week before Easter and the week between Christmas and New Year.
- Both parties should arrive on time. Arriving late may give the impression that you are untrustworthy.
- Meetings are often formal.
- Belgians like to do business with people they know – first meetings are more social than commercial.
- During a meeting, don’t take off your jacket.
- Business cards are offered without a specific formality.
- Make a French or Dutch translation for one side of your business card. This demonstrates respect for and knowledge of your colleague’s language background.
- If you have meetings in both locations, print two sets of business cards.
- Present your business card in such a way that the receiver can read the side that corresponds to their native language.
- Business location
Many firms and investors choose Brussels for its central and strategic position in Europe, its open and dynamic market and its status as the European Union’s capital. The European Commission, the European Parliament, the European Council and NATO are all headquartered in Brussels many important actors that makes Brussels the heart of Europe.
Its location is also an advantage as you can reach Paris in only 90 minutes, London in 2 hours by Eurostar and Amsterdam in 2 hours by car or with the Thalys.
- Affordability
Brussels is still cheaper than cities like Amsterdam, Paris or even London.
The average cost to rent an apartment in 2019 was 1100 euro, up 5.74% from previous year. Without rent, a family of four would spend 2950 euro per month, while a single person’s projected monthly expenditure is 840 euro.
- Steps for registration
The following are the most crucial phases in establishing your business :
- Deciding on a legal status: a sole proprietorship (physical person) or a corporation (legal entity).
- Forming a corporation by submitting and registering a Memorandum of Affiliation with a recognized business entity one-stop-shop.
- Requesting a VAT identification number
- Requesting a customs identification and an EORI-number.
- Opening a current account.
- Joining a self-employed social insurance fund and paying social contributions.
- To be considered for health and disability insurance payments, you must join a health insurance (mutuelle) of your choosing.
- When recruiting individuals, taking out specific insurance coverage, whether mandatory or not: Getting a job with a payroll processing firm and going through the proper channels with the Social Security Office.
- You may also need to demonstrate that you know the fundamentals of business management, depending on the location.
- Offices spaces
There are many different types of office spaces to rent in Brussels. Private offices of various sizes are available for rent, suitable for large companies as well as small businesses seeking a location that is entirely dedicated to them. Private offices, flexible offices, co-working spaces, conventional office space, serviced offices, managed offices, and business centers are all available in Brussels.
hub.brussels can welcome in their office you for 3 months free of charge : discover our welcome package and enjoy 3 months free access in a co-working space ideally located and with high speed internet. hub.brussels can also help you to find a good location for your office.
- Logistics
Mobility as a business is important: the Belgian national airport, Zaventem, is about 12 kilometres from the Belgian capital. There is a train station near the airport, and up to six trains per hour go to and from Brussels. It takes just 15 minutes to get to the city centre.
Starting or relocating business in Brussels means being mobile. The metro system is outstanding, with 69 stations on seven lines.. In addition, the railway network is dense and provides an efficient means of transportat between villages and cities. Brussels-Nord, Brussels-Centrale, and Brussels-Midi are the three main stations in Brussels.
The Brussels-Midi railway station, in the south, is the busiest because international high-speed trains like Eurostar and Thalys stop here, making it simple to go to Paris and Amsterdam.
- Financial sector
From incubators to headquarters s of global service providers, Brussels has a widely-diversified and stable financial sector, making it the perfect place to expand your business.
The finance sector in Brussels is a vibrant ecosystem, buzzing with new ideas, projects and achievements.
It is a world-class center for specialized financial infrastructure, has state-of-the-art knowledge about payment services and cutting-edge cyber security expertise (Febelfin* – Fintech).
- Local tax breaks
Flexible taxes for new investors: Belgium’s tax policy is in line with other European countries and offers attractive R&D incentives.
Belgium also offers a flexible tax system with incentives for new investors. The national tax rate is comparable to other European countries. Belgian tax law is particularly attractive for Research and Development investments, where companies can deduct up to 80% of patent income from their taxable base – reducing the actual tax rate to 6.8%.
Source: https://www.flexas.com/blog/benefits-expanding-business-brussels
Discover more about Brussels : https://why.brussels/why-brussels-is-a-great-place-to-grow-your-business/
