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Although a small country, Belgium is regarded as a global leader in political and economic activity. Tucked between France and the Netherlands, Belgium is a hub of activity and is an exciting country to invest in.

Why expand to Belgium?
Belgium has a very open and liberal economy, and offers a robust environment for foreign investment. With the exports being the best in the world, the country has a committed and hardworking labor force that makes it a significant country in the European trade market. Foreign investors have the same legal rights and obligations as domestic entities, and there is no partnership between domestic and overseas companies, or between branches and subsidiaries. It has an attractive business climate that is harnessed by certain investment incentives by numerous federal and regional authorities. This has resulted in an affable business environment in the EU.

Main areas of business
It is always good to study the business opportunities when doing business overseas. The main business opportunities in Belgium include software and computer services, telecoms, chemicals, consumer goods, food and beverages,  Bio-technology and Pharmaceuticals , Mechanical and electrical engineering. The important cities that can be considered in Belgium when setting up a business here is Brussels, Antwerp, Ghent, Charleroi, Lige and  Bruges.

The essentials to know about the labor and workforce
The productivity in Belgium is among the highest in the world, which is mainly due to the quality of education and the high training standards. With the intention of reducing the social security charges, the Belgian government introduced a program that relates to all employees in the private sector and even has an effect on part-time workers.

It is necessary for the employer to:

1. Register  for social security with the National Office for Social Security; (Rijksdienst voor Sociale Zekerheid/Office national de la securite sociale – RSZ/ONSS)
2. Register with a family allowances fund within 90 days of the first employee being hired
3. Register with a holiday pay fund, only applicable if employing manual laborersand apprentices
4. Join an accident prevention and protection at work organization
5. Set up an internal prevention and protection at work department
6. Take out insurance against industrial accidents
7. Establish a staff register
8. Guarantee that every member of personnel joins a mutual health insurance fund and is given a pension number
9. An electronic official employment notification should be submitted if staff are employed by, or leave, the company

If there is any employee data that is kept with the employer, it is necessary to notify the Commission for the Protection of Privacy.

Overcome the challenges with a professional
Although Belgium is known for having an open economy and welcoming foreign investors, starting a business here internationally can have hurdles. It is important to do the necessary research and cover all the aspects of business plan and consider if the industry you wish to develop in your business will be suitable to Belgium. With the help of a business consultant your business can get the necessary advice on the overall operational, administrational and executive aspects of your business, like International financial accounting, regulatory filings, payroll etc.