Using our EOR services in Belgium allows you to access the opportunities of the Belgian market within days while we take care of the paperwork for hiring your workforce compliantly. The Belgian economy is characterised by a highly productive workforce, high GNP and high exports per capita. Belgium’s main imports are raw materials, machinery and equipment, chemicals, raw diamonds, pharmaceuticals, foodstuffs, transportation equipment, and oil products. Its main exports are machinery and equipment, chemicals, finished diamonds, metals and metal products, and foodstuffs.
The economy, driven by a strong service sector, offers a Gross Domestic Product of €507.2 billion, 25th globally in 2021. Belgium’s GDP ranks 11th among EU nations and is predicted by the World Bank to reach USD 610 billion by the end of 2022. Belgium is a wealthy nation whose world ranking jumps to 18th with a per capita GDP of USD 50,413.
According to the Directorate-General for Economic and Financial Affairs of the European Commission, Economic growth in Belgium is expected to reach 2.8% in 2022, 0.2% in 2023 and 1.5% in 2024. Following the substantial increases in energy prices, high inflation, forecast to reach 10.4% in 2022, 6.2% in 2023 and 3.3% in 2024, is projected to temper the growth of private consumption. The government deficit is projected at 5.2% of GDP in 2022, reflecting the budgetary response to high energy prices. In 2023, the worsening of macroeconomic conditions is projected to widen the budget deficit to 5.8%.
But each market brings in new challenges. These can be worked through efficiently and cost-effectively with the support of an international Professional Employer Organisation (PEO) such as Bradford Jacobs, primarily through our Employer of Record (EOR) framework. This can be best utilised when businesses are just beginning their expansion process and require more information before incorporating an entity and fully establishing themselves in that market.
Our EOR services in Belgium offer our global entity network to companies considering an expansion. We become your international employees’ Employer of Record, meaning that we take full responsibility for your employees’:
As an Employer Of Record, we conclude an agreement with you and the employee who will be working for your company. We become the legal employer of your new workforce. Your company maintains control over the working relationship, work ethics, tasks, and daily responsibilities of your employee.
With our EOR services in Belgium, our in-country agency will legally hire your selected employees while you are responsible for their day-to-day activities. We currently operate in over a hundred countries where we use local networks of experts, which allows us to gain expert knowledge of local laws and regulations and recruitment customs and trends. By partnering with us as an EOR, your company will also have access to this specialist knowledge.
Our contract with your employee is 100% compliant with Belgian labour laws and includes benefits such as insurance and pensions. We can hire, onboard, and manage your new employees in Belgium within days. Here is what we can do for you:
The most significant benefit of using our EOR services in Belgium is probably that there is then no necessity for you to set up an entity there. This process can take months, and during this period, it is unlikely that you will have legal resources to pay your employees in Belgium, resulting in a considerable delay in your Global Expansion plans.
Global expansion is an exciting step that often leads to a growing and successful business, but the red tape in a new country can be demotivating and frustrating. Imagine a way to expand your business without red tape globally and at low costs: that is what working with an EOR can do for you. By letting us take care of the hard part, you can focus on the significant part: expanding your business into Belgium.
These are the aspects we can take away from you:
As an employer, you are usually responsible for all legal aspects regarding your employees’ employment. In a new country, this process will probably take some more effort, but it does not have to. We have extensive experience with Belgian payroll, taxes, and other local laws and regulations at Bradford Jacobs.
We can help you with the following:
Employees are the central core of your business. They keep the engine running; therefore, it is also essential to create a stable agreement that satisfies both employer and employee. As a legal employer, the EOR is responsible for keeping employees happy with the work agreement. Due to our broad network and experts, we can offer employees great benefits and a reliable, compliant Belgian employment contract.
We will make sure they enjoy the following:
Working with contractors on a project- or temporary basis can provide an excellent solution during your global expansion into Belgium. At Bradford Jacobs, we have access to a vast pool of international contractors and can find you the perfect fit for your project or expansion in Belgium.
Since it is not allowed for a contractor to work full-time for you solely, we can always set up an EOR when necessary, providing you with a swift solution for your international workforce.
Feel free to share your plans and dreams with us so that we can find the perfect solution and provide a compliant working agreement that suits everyone.
For more information, download our free guide or get in touch with our consultants here