Outperforming expectations. That’s just one way to describe the financial sector in Brussels. Steady growth. That’s another. Fully supported by business-friendly regional policies. And, that’s a third. Put them together and it sounds as if Brussels is the best place for your financial business.
How can productive Brussels help you to get the job done?
What to expect
Congratulations, you’ve decided to come and work in Brussels. You’ll quickly find that your local colleagues are generally extremely pragmatic and flexible, and enjoy collaborating with others, often in new and exciting ways. And your new office could be anything from a brand-new office block in the city centre to a co-working space in one of the incubators in Brussels.
Looking at the bigger picture
The economic outlook for Brussels is positive. The GDP (Gross Domestic Product) per inhabitant in the Brussels Capital Region is more than double the European average (207%). This makes Brussels the third wealthiest region in terms of GDP per capita. Part of this success is due to the favourable tax conditions in the capital for expatriate managers, scientific researchers and specialised staff. This includes tax benefits, flexible rewarding, stock options and R&D incentives.
For the finance sector, the economic outlook is even more positive. According to B-HIVE, a European collaborative innovation fintech platform, the fifth highest number of fintech deals in Europe in 2017 took place in Belgium. When this is compared to the country’s ranking outside the top 10 in Europe according to nominal GDP, it is clear that Belgium’s finance sector outperforms expectations.
“On four indicators for innovation and industrial development, Belgium is by far the best performing country” OECD Study
And the smaller details
As well as the bigger picture, there are few smaller, practical details that you need to know. First of all, the working week is 38 hours long, usually spread over 5 days. Many international and European companies use English as a working language, even though Brussels is officially bilingual (French and Flemish). And if your educational qualifications are valid in another EU country, they’ll also be recognised in Brussels, thanks to the Bologna process. Lastly, work permits are required for all non-EU citizens, but they can usually be obtained within 15 days.
What does Brussels mean for your company? Contact us.