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Setting up a branch or a subsidiary in Belgium

UK Company looking to open a branch or a subsidiary in Belgium. Looking for assistance.

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We are a UK recruitment company looking to open a branch or a subsidiary in Belgium. This will employ 5-10 people to work on our admin for the company. Don't ask how, it just so happens we have reliable people based in Belgium that want to work for us. These people won't be generating revenue, so my thoughts are a branch probably makes more sense. I am looking for someone/ a company to help us through the process of getting everything setup and then running the payroll for us. I have done a lot of googling and sending out enquiries, but I think all I really need is a Belgian accountant who can speak English. Or a UK accountant who is Belgian and can make some introductions. Any help greatly appreciated.

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By I'msorryIhaven'taclue
04th Aug 2021 15:05

Your application says you are a "UK Recruitment Company" but your CV says you are a "Honiton Accountant".

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By paul.benny
04th Aug 2021 16:50

I'm not sure I understand the scenario. It sounds like you're going to be running some back office functions for UK from Belgium. That doesn't make obvious sense.

But if that's what you're doing, there's rather more to it than just branch or company. You Belgian entity will need to invoice UK for their costs with an appropriate margin - and there may need to be charges the other way if the UK is providing services.

It'll need to be locally VAT registered, probably needing a fiscal agent.

You'll need a local bank account. All the same KYC/AML challenges of opening an non-resident account will doubtless apply.

Belgian company law mandates a particular chart of accounts. You can in theory use your own as long as there is a clear conversion table within your systems. I don't know whether an offline conversion is permitted.

In my experience, Belgian tax authorities have a rather more fine-scaled attitude to materiality than HMRC.

What are payroll on costs in Belgium? I don't recall - but expect them to be multiples of those in the UK.

How are you on Belgian employment law?

Now what is it you're planning to do and why?

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By ApplesAndBananas
05th Aug 2021 10:14

Hi there - we are a UK company with a Belgium branch, and we use local accountants Moore - https://www.moore.be/en

They do our VAT returns and annual accounts, and I can't reccommend them highly enough!

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