Friday, March 28, 2008

Belgium a Retirement Haven?

Inadvertently, the Region of Flanders in Belgium is positioning itself as a retirement haven for retired entrepreneurs from all over Europe. In reaction to a decision of the European Court of Justice, Flanders has changed its inheritance tax legislation so that businessmen can come and live in Flanders and save on inheritance tax on their estate.

To qualify for the inheritance tax exemption, the entrepreneur must
be domiciled in Flanders;
Have held, together with his family, at least 50 percent in a company
that is established in the European Union,
that has staff in the European Economic Area with an average salary cost of €500,000 during the last three years (that level must be maintained for five years),
That drafts annual accounts in accordance with the Belgian rules (that is attached to the company’s income tax return) or in accordance with the legislation of the country where the company is established; and
of course, the heirs must have declared the participation in the inheritance tax return.

If you understood any of that...great! Here's the FULL STORY

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