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Belgium Ranked the World's 13th Most Innovative Country

Written by: Editor

Belgium-Ranked-the-Worlds-13th-Most-Innovative-Country.jpgAccording to the 2017 Bloomberg Innovation Index, Belgium has the 13th most innovative economy in the world, an increase of 3 points from last year. The analysis is based on the country’s characteristics for research and development, productivity or high-tech innovation and density. When deciding to invest in Belgium entrepreneurs will look towards these characteristics. Our lawyers in Belgium detail the most important traits that have helped Belgium advance over the years. 

Belgium’s high scores

 
In the Bloomberg Innovation Index, Belgium had a total score of 77.18, above Norway, the Netherlands or Ireland. This put the country on the 13th place, up 3 places compared to 2016. The country ranked well in categories like productivity or R&D intensity but also scored well in high-tech density. Belgium’s tertiary efficiency score and the research concentrations score were both 19. Belgium would need some improvements in categories like patent activity in order to reach the top ten next year. 
 
The Bloomberg Innovation Index also included countries like South Korea, Sweden or Germany. A total of 200 economies around the Globe were included in this top.
 
Foreign investors in Belgium benefit from the double tax treaties, which are in place for the purpose of preventing double taxation on income for companies and individuals doing business both in Belgium and in another jurisdiction. 

Investing in Belgium

 
Belgium is comprised of three major areas, Brussels-Capital Region, Wallonia, and Flanders. Each of these regions has its own particularities for investments and entrepreneurs are encouraged to seek the various incentives that can apply to their business. Moreover, each region may have different regulations and requirements, for example regarding the special permits and licenses needed to do business.
 
The experts at our law firm in Belgium have worked with many foreign investors and can help you with specific details about the legislation for investments and particular legal matters in the country.
 
You can contact us for personalized advice and legal counseling.