FATF Status

Belgium is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Belgium was undertaken by the Financial Action Task Force (FATF) in 2018. According to that Evaluation, Belgium was deemed Compliant for 21 and Largely Compliant for 16 of the FATF 40 Recommendations. It was also been deemed Highly Effective for 0 and Substantially Effective for 4 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Belgium has robust anti-bribery laws that criminalize both active and passive bribery, including offenses involving foreign officials, and it is a signatory to the OECD Anti-Bribery Convention. While corruption is considered rare and not a barrier to business, enforcement is managed by various government bodies, including a specialized unit for combating corruption, which currently faces staffing challenges. Despite some regional variations in anti-corruption policies, U.S. firms have not identified corruption as an obstacle to foreign direct investment in Belgium.

Belgium has a highly developed and open economy, serving as a logistical gateway to major European markets and hosting key EU institutions and NATO. The country has implemented measures to enhance its economic competitiveness, including a reduction in corporate tax rates and a minimum tax for large multinationals, which have improved its investment climate. In 2023, Belgium's economy grew by 1.5%, driven by domestic demand and business investments, although future growth may be constrained by labor shortages.

Belgium offers a competitive investment climate characterized by a well-educated workforce and strong infrastructure, making it an attractive destination for U.S. investors. The government has taken steps to enhance economic competitiveness, including reducing the corporate tax rate from 35% to 25% and implementing a minimum tax for multinational corporations. Additionally, Belgium's open economy and strategic location as a logistical gateway to Europe further bolster its appeal for foreign direct investment.