Wallonia | Business environment | Access to capital
Direct access to financial markets
taking the pain out of expatriation
 The decision to expatriate can be a considerable source of stress. How do you deal with the specific pressing questions? Practical issues quickly present themselves such as how to finance your business project, how to find optimum insurance cover for your family and how to best manage your private investment portfolio.
efficient financial market
The Belgian banking system has long been known as a liberal banking system. There are no restrictions on the free movement of capital and regulatory requirements are minimal.
There is a particularly wide and flexible range of loan products on offer to companies, with no discrimination as to the nationality of the investor.
There are also many options available when it comes to raising risk capital.
Thanks to an efficient branch network, there are a large number of Belgian and foreign banks servicing the entire region.
Because of the sheer volume of international business carried out in Belgium, more than half of all banking transactions are international financial transactions.
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 The majority of Belgian banks also have an extensive international network based on strategically located branches in the main financial markets across the globe.
Quite a number of the 121 banks located in Belgium feature prominently in the top 100 international banks.
The combined assets of the three main banks (Fortis, ING and KB Group) amount to 370 billion dollars.
As a result of the various alliances and mergers that took place in the 1990s, the Belgian banking landscape is particularly healthy and robust.
This has enabled the banks to invest in modern, automated systems in order to provide their exacting clientele with a wide range of consulting services as well as domestic and international transactions (particularly in the area of cash management and netting).
 The headquarters of SWIFT (Society for Worldwide Interbank Financial Telecommunications), the leading global supplier of secure financial transaction systems to most of the world's major international banks, has long been based in Wallonia, in close proximity to Brussels.
 Euroclear,
which supplies the leading settlement system for financial and securities transactions, is also based in Brussels.
an international financial marketplace
Belgium also features prominently (seventh place worldwide) on the list of leading international financial centres.
It was in Belgium (Antwerp) that the world's first commodities exchange was established in the 14th century (by the Vandenbeurs family).
 With the concentration of European financial markets, the headquarters of the Euronext exchange (formed from the recent merging of the Paris, Brussels and Amsterdam stock exchanges) are now located in Brussels.
Most major companies are quoted on the Brussels stock exchange, allowing them to raise new capital easily through open-market stock issues or initial public offerings.
The regulations applied to these types of financing operations are very straightforward.
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Belgium also hosts the EuroNM and Nasdaq Europe.
These stock markets are well suited to the needs of young companies in high-growth technology sectors seeking to expand internationally.
Since 1999, over 44 companies have become listed on it. Stock market transactions are fully computerised, with continuous quotation for both bearer and registered securities.
The companies located in Belgium and Wallonia have long-standing international shareholders. The relevant Belgian legislation incorporates European regulations, with a highly liberal-leaning stance towards foreign equity investment, while obviously resisting unduly hostile public purchase offers.
financial support in the wallonia region - key partners
There are several Wallonia companies and organisations providing financial support for Belgian or foreign firms seeking to set up or expand their business in Wallonia.
• Regional investment companies, such as the S.R.I.W., can provide a share of the funding for a project, either in the form of an equity stake or through a convertible or other loan,
• Local investment companies (Invest Borinage-Centre, Namurinvest, Sambrinvest, Meusinvest, Hoccinvest, Nivelinvest, Investsud, Ostbelgieninvest) are specifically geared towards the SMEs in their respective regions and offer equity funding, subordinated loans, etc.
• Sowalfin is a one-stop-shop for SME financing in Wallonia.
It offers co-financing, guarantee and venture-capital schemes.
• SODIE
is a subsidiary of the USINOR group. It makes concessional-rate loans to SMEs that create jobs in Wallonia.
• ...
investment incentives to help you set up your business
To promote the setting up and development of new companies and to stimulate economic activity, the Wallonia Region offers a straightforward and attractive system of business incentives.
The scope of these grants varies according to the value of the project, with larger incentives if it is located in a development area.
Investors can avail of European and regional financial incentives of up to 30% of the total investment in the case of large companies and 40% in the case of small to medium sized companies.
The Wallonia Region also grants special incentives in support of environment-friendly investments geared towards research and development.
Investment projects located in geographical areas eligible for European Structural Funds may in some cases be entitled to additional European incentives, in combination with the support from the Regions.
GlaxoSmithKline Biologicals - Rixensart
 for more information, dowload the fact sheet "Investment grants" (pdf - 154 Ko)
tax incentive zones
In early 2006, the Wallonia government decided to define economic redevelopment areas, or tax incentive zones, with special tax incentives for existing economic activities in those areas and any activities such measures may attract .
The investment grant can be increased by 25% or even 40% for these areas.
Practical information
Regardless of the type of company, the investment programme starts when the grant application is filed. The date used for the purposes of reckoning is the one shown on the first invoice relating to the investment programme. This must begin within the six months of receipt by the authorities of the grant application form.
The regional authorities follow every stage in the implementation of your investment programme. There are also other measures available in addition to regional incentives. Depending on the specifics of your project, where it is located and its R&D programme, you may also be entitled to European Union subsidies.
In addition to the above, you may be entitled to sizeable tax and social-security incentives (reduced social-security contributions, cash recruitment grants, training subsidies, etc.)
We are always available to help you choose the incentive measure most appropriate to your project. Click here if you would like to receive information about your own specific case.
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