Overseas business risk: Belgium
Updated 10 December 2024
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General overview
Belgium and the United Kingdom are essential allies and close neighbours. We have a strong trading relationship and our supply chains are closely connected. Belgium is the UK’s 8th largest trading partner.
Belgium hosts the headquarters of the EU Commission and Council, NATO and many other international organisations. It is the eighth most populated country of the European Union with 11.58 million inhabitants (January 2023).
Often referred to as the crossroads of Europe it consists of two very distinct cultural regions, Flanders (Dutch speaking north, population 6.7 million) and Wallonia (French speaking south, population 3.7 million). Brussels is officially bilingual (population 1.22 million). There is also a small German-speaking community (79,000) in the southeast.
Politics
Belgium is a constitutional monarchy and federal state composed of three regions (Flanders, Wallonia and the Brussels Capital Region) and three language-based Communities (Flemish, French and German). The Federal Government is governed by a multi-party coalition of both Flemish and Francophone parties. Within the regions, there are 5 Walloon and 5 Flemish provinces and almost 600 local authorities (municipalities).
The federal government is responsible for some major issues including defence, foreign affairs, justice and home affairs, national budget and social security. Regional responsibilities include environment, transport, energy, agriculture, and public works. Responsibility for education and culture rests with the language communities, while some issues, such as health, span all. Regional and community governments are entirely autonomous in the areas where power is devolved.
Federal, regional and community elections are held every 5 years, and provincial and local elections every 6 years. Voting is compulsory, except for the local and provincial level in Flanders. The most recent federal and regional elections were held on 9 June 2024, with coalition talks to form a new government still ongoing. For the time being, a caretaker government remains at federal level, led by Prime Minister Alexander De Croo (Open VLD).
Economics
Belgium has a developed, modern, private-enterprise economy. Exports amount to over 80% of its GDP. Main imports are raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment and oil products. Main exports are medicinal and pharmaceutical products, machinery and equipment, chemicals, finished diamonds, metals and metal products and foodstuffs.
With few natural resources, substantial quantities of its energy and raw materials are imported while large volumes of manufactured goods are exported, making its economy highly dependent on world markets and global trade.
Belgium ranks 46th on the World Bank Ease of Doing Business ranking whilst the UK ranks 8th.
Business and human rights
The minimum national wage in Belgium is € 1,995 per month gross (September 2023). The average single worker bears the OECD’s highest income tax of 53%. Workers in Belgium benefit from high labour standards and strong legal protection. Wages are pegged to inflation and provide for automatic wage indexation as costs of living rise.
Every 2 years wages are also aligned to the wage forecasts of France, Germany and the Netherlands. Corporate tax is 25% (September 2023).
Belgium was a founding member of the European Union and the Council of Europe and is a signatory to the European Convention on Human Rights. In 2021, Belgium established its Federal Human Rights Institute. This institute complements the existing human rights landscape including the Interfederal Centre for Equal Opportunities – UNIA. The Flemish Government is currently establishing its own human rights institute.
See the Office of the Commissioner for Human Rights’ report for Belgium.
Women’s rights are well protected under anti-discrimination laws. The representation of women in the Federal Parliament has been increasing steadily supported by a law requiring political parties to nominate at least 33% women.
Belgium ranks 10th in the World Economic Forum Global Gender Gap Index 2023 (PDF, 8.76MB).
Belgium became the second country in the world to legalise same-sex marriage on 1 June 2003.
The US State Department`s 2023 trafficking in persons report indicates Belgium fully meets the minimum standards for the elimination of human trafficking.
Bribery and corruption
Bribery is illegal. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world.
According to the Transparency International`s Corruption Perceptions Index 2022 Belgium and UK are both jointly ranked 18th out of 180 countries.
Read the information provided on the bribery and corruption page.
See also the World Bank’s ease of doing business rankings.
Terrorism threat
Refer to the terrorism section of the FCDO travel advice for Belgium.
Organised crime
The Belgian National Security Plan 2022-2025 (Dutch version and French version) lists the fight against organised crime as one of its four top priorities, including action to tackle drug trafficking, fiscal fraud and other financial and economic crime, irregular migration and human smuggling, human trafficking, hacking, IT sabotage and internet scams.
Read the safety and security section of FCDO travel advice for Belgium for up to date security advice and the guidance on crime and fraud prevention for businesses in international trade.
Protective security advice
Around 1.3 million British nationals visit Belgium each year (2022). Most visits are trouble-free. Refer to safety and security section of the FCDO travel advice for Belgium.
Cyber security
The Belgian National Risk assessment 2018-2023 stated that cyber threats are one of the most important risk clusters Belgium will be facing over the next few years. Belgium launched its Cyber Security Strategy in 2012 and on 20 May 2021 published its 2.0 Cyber Security Strategy (Consult the Dutch version (PDF, 2,766KB) and French version) (PDF, 2,771KB). Belgium established its Cyber Security Centre in 2015. Belgium ranks 19th in the 2020 Global Cybersecurity Index (PDF, 4,998KB) (UK is 2nd).
Read the information provided on our crime and fraud prevention for businesses in international trade page.
Intellectual property
Intellectual property rights are territorial i.e. they only give protection in the countries where they are granted or registered. There is no single European patent; a European patent is a “bundle” of individual national patents. If you are thinking about trading internationally, then you should consider registering your intellectual property rights in your export markets.
More information is in our intellectual property page.
UK export finance
The government can provide finance or credit insurance specifically to support UK exports through UK Export Finance – the UK’s export credit agency. For up-to-date country specific information on available support see UK Export Finance’s country cover policy and indicators.
Contact
For more information on opportunities on doing business in Belgium please contact the Department for Business and Trade’s (DBT) team in Belgium