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Expat Financial Affairs: Free workshop 3 October
Inheritance can be a daunting affair. How much inheritance tax do you have to pay and what happens to your company when your business partner passes away? Careful estate planning helps prevent these issues and eliminates any uncertainties, but if you live and work outside of your home country, the entire process gains a whole new level of complexity.
“Several elements are always at play, not least your residence status and the specific application of private international law,” says Rutger Van Bowen, senior tax manager at BDO. “It always depends on specific circumstances, but keeping a few guidelines in mind when it comes to estate planning can make a big difference down the road.”
BDO is one of the companies participating in the free one-day seminar on Saturday. It is organised by the British Chamber of Commerce at the Vlerick Business School in the centre of Brussels.
Van Bowen’s presentation addresses the nuances of estate planning with the main focus cross-border taxation. “Frequently, two or more countries can apply inheritance tax on your assets,” he says. “There are bilateral treaties that prevent double taxation but they often do not cover inheritance. And this doesn’t just affect individuals. Businesses face transfer difficulties upon the death of their owners all the time. Understanding the laws and regulations that govern international taxation is instrumental to sound estate planning.”
The presentation is aimed at English-speaking business owners who live and work in Belgium, but private individuals and families should benefit as well. “In today’s increasingly mobile and globalised economy, estate planning is not always on top of everyone’s list of priorities,” Van Bowen says. “But we’ve been noticing a significant rise in cross-border over taxation, so, at least for that reason, it definitely should be.”
As the world’s fifth largest accounting network, BDO maintains a close connection with the expat community in Brussels. “We focus on providing guidance to both start-up companies and mature businesses, as well as individuals considering establishing themselves in Belgium,” Van Bowen says. “Since we have a lot of experience in the area of estate planning, we strongly believe that our services can be of significant value to the participants of the seminar.”
Expat Financial Affairs seminar
When: Saturday 3 October, 10:30-16:30
Where: Vlerick Business School, Place Rogier, 1000 Brussels
Free event, register here