Belgium
How business transactions are conducted in Belgium 
- BASIC TRANSACTION INFORMATION
Commissions:
The seller pays the 3-5% commission. A 12.5% registration fee applies also. Property, ownership, title insurance:
- Titles of ownership, mortgages, and deeds are recorded in the mortgage register.
Transaction information systems:
N.A. Real estate trade associations:
Federation des Chambres
Immodilieres de Belgique
License requirements:
N.A. Forms of ownership:
Private and community ownershipis allowed. Forms of business partnerships are corporation, limited liability companies, general partnernership, and joint ventures. Contracts:
A notary witnesses the signing of contratcs. Legal contracts are registered for a small fee. Mortgages:
Mortgages are witnesssed by a notary and registered. There are three types: legal, bywill, or by agreement. Financing and lending practices:
N.A. Taxation:
Property taxes are between 1.25 and 2.5% depending on the use and loction of the propert. They are levied on the value of real estate property, which will is reassessed only every 15 years. A capital gain tax of 34% applies if the object is held less than five years, 17% for five to eight years and no taxes for more than eight years.
- BASIC BUSINESS CULTURE
Fashion:
Suits and dresses are standard in offices. Basic cultural skills:
A quick handshake is common. A person is adressed by title and surname. Hand gestures are used rarely. Visiting:
Only close friends are invited to homes. Arrangments are made in advance and punctuality is essential. A small gift is always appreciated. Restaurants:
A service charge is included in the bill.
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