The sums start from as low as 12,400 EUR which is for proof that person can support themselves in regards to living and working in Belgium.
For non-European Union residents, this process is a bit trickier as at the start non-EU citizen must apply for a visa.
Overall Belgium has a quite easy and cheap procedure for opening a startup which makes the residence permit receiving procedure much more easy and pleasant. If such a deal is appealing for entrepreneur from Europe or outside of European Union, see the following paragraphs for more information about the procedure of getting the residence permit via opening a startup in Belgium and the startup opening procedure overall.
How to launch a startup in Belgium
There are few legal structures in Belgium related to business launches, such as sole proprietorship, partnership, limited company, co-operative. Starting a startup in Belgium starts with the definition of what legal set up the company will look like. The procedure starts with legal documents needed, like the articles of association and the shareholder agreement. Overall person must complete all the steps of the Intellectual Property agreement if that is needed, all the tax details must be sorted, and the regulatory list must be finished.
For foreigners out of European Union the registering process starts the same – collecting the legal paperwork, registering in a Belgium bank, registering VAT and social insurance fund.
As Belgium is a well-established location for starting a business, it is possible to launch it for any resident over the legal age of 18 years or foreigner that applies for residency through business startup.
Procedure of getting a residence permit by business startup
Overall the Business Start-up Visa is for the entrepreneurs, experienced professionals and educated professionals as well as high earning people who want to invest in Belgium’s local businesses. Residence permit by launching a business startup can be by investment or actually launching a company which is a great alternative for the entrepreneurs. Well-established people with high means can afford to invest in an already existing company that will therefore benefit the countries economy.
The start of the procedure is getting at least 300 000 EUR or more to invest in residency program which can be only in monetary form. The investment must be to a startup that is launched in Belgium or in an investment from to a local business.
The fee for each case is a bit different, for example the fee for obtaining a residence permit for first year is 95 000 EUR, second year is 25 000 EUR and the citizenship application that can be applied for after 3 years with residence permit has a fee of 35 000 EUR. The fees for members obtaining and renewing permits varies between 1 000 EUR per month and 20 000 EUR in the first year.
Documents required for obtaining a residence permit by business startup
As any legal procedure documents that are needed have to be notary approved and signed as well as having to present only truthful documents and information. The person wanting to apply for residence permit via launching a startup, investing in a startup must present their passport, proof of financial means to support the obligatory financial payment and insurance documents.
Benefits of a residence permit by business startup
There are many benefits of investing in a business or launching a business and therefore getting a residence permit in Belgium. Belgium has a very strong presence in the European Union. It is a good and strong location for businesses and the economic and political situation is stable.
There are only 3 years to wait before applying to citizenship in Belgium after getting the residence permit by startup. There are also no restriction present for dual citizenship which is widely used in Belgium.
One of the best perks of having the residence permit via launching a startup is gaining the permit that allows to travel and engage in business activities around Europe. This is a large benefit to those who come from outside European Union and desire to get in the market. Also regarding the location, Belgium has good infrastructure and transportation canals that give good opportunity for businesses to export and import goods. For investors this residence permit allows to not have a minimum of the time to have to spend in Belgium as in some other countries.
Another benefit is that Belgium has quite attractive tax regime which allows companies and their shareholders to repatriate the profit.