Being one of the most densely populated countries in the world, it is a hot spot for most investors, entrepreneurs, and transnational companies from all around the world.
A lot of businessmen only dream of having a European based in Belgium. Due to a lack of proper information, a lot of foreigners and even residents have lost life-changing business opportunities.
If you are reading this article, it means that you are in Belgium or plan to migrate to the country for business but don’t know where to start. Don’t worry, we’ll go over everything you need to start a business in this European country.
It’s a very detailed guide but super simple to understand. So relax, we’ll make sure we go over everything you need to start profitable business opportunities here including cost, required documents, and top-performing sectors.
Country overview
Sometimes called the crossroads of Europe, The Kingdom of Belgium is a sovereign state that operates a federal constitutional monarchy with a parliamentary system of Government.
The country consists of three distinct cultural regions: Flanders (Dutch-speaking population of around 6.5 million people), Wallonia (French-speaking side that is made up of around 3.6 million residents), and Brussels (bilingual capital with over 1.2 million inhabitants).
Belgium is an ideal business location for companies that export most of their products, looking for a dynamic market, want to expand to other European countries, and need a profitable market.
Belgium also shares its borders with the most developed countries in Europe including the Netherlands, Germany, Luxembourg, and France. The most popular cities for businessmen and investors are Brussels, Antwerp, Liège, Bruges, Namur, Ghent, Charleroi, and Leuven.
Business environment
Belgium is the first country to undergo an industrial revolution in Europe. Ever since, the country has developed an excellent transportation system in its airports, highways, and railways.
Most manufacturers in the country import raw materials and semi-finished goods that are processed and re-exported. The top-performing sectors in Belgium are steel production, textiles, food processing, refining, chemicals, pharmaceuticals, machinery fabrication, automobiles, and electronics.
Belgium depends heavily on world trades and markets, its exports are equal to more than two-thirds of its GNP. Being at the center of Europe, it trades most of the goods with other EU countries.
Despite the heavy manufacturing in the country, the services industry accounts for 74.9% of the country’s GDP while agriculture makes up only 1%.
Despite its small size, this affluent and multicultural European country boasts of a developed, private-enterprise economy that thrives in its central geographic location.
European nationals can easily relocate to Belgium and start their own business or get employed without any special document but Non-EU nationals must possess a work permit before they can be allowed to work anywhere in the nation.
Top Business Opportunities
Being a very active country in terms of manufacturing and production, Belgium is one of the best places to start a business in Europe. If you are still looking for business opportunities in the country, these are the best ones so far:
Transportation
Transportation is one of the biggest ventures in the world right now. The modern economy in the state requires a very advanced transport network to keep up with its diversified industrial and commercial base.
Belgium has excellent infrastructures in its ports, railways, and highways that even integrate with those of its neighbors. The best thing about starting this business is that even as developed as it is, there is still room for lots of improvement.
Export
This European country is popular for its international trading. It exports equivalent is more than two-thirds of its GNP. Because of its geographical location and influence of world markets, Belgium is one of the best places to own a warehouse for your importation or exporting business.
There are so many businesses looking for a partner that can ship their goods to parts of the world or bring their good safely into the country. You can partner with these businesses and enjoy a steady supply of funds.
Manufacturing
The manufacturing sector accounts for one-sixth of the country’s GDP. This sector and its industries occupy major economic activity in the Flanders, Limburg, Hainaut, Antwerp, and Brussels.
Belgium is one of the world’s leading refiners, processors, and producers of cobalt, zinc, lead, petroleum, metallurgy, radium, copper, steel, textiles, chemicals, glass, paper, and food processing.
The country also has car assembly plants for foreign automakers and production lines for manufacturing heavy electrical goods, machines, and plastics.
Starting a business in Belgium is a pretty straightforward process. Investors are required to follow simple steps from drafting the company’s Articles of Association to registering them with the Commercial Court for the company to obtain a corporate status.
The main objective of this guide is to provide you with basic information about the business environment in Belgium. If you need more data or professional assistance, you can always send us an e-mail.