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. While corruption is considered rare and not a barrier to business, the enforcement of these laws is managed by various government bodies, including a specialized unit for combating corruption. Despite some regional variations in anti-corruption policies, American companies have not reported corruption as an obstacle to foreign direct investment.

Belgium has a highly developed and open economy, benefiting from its strategic location as a logistical gateway to major European markets and hosting key EU institutions. The country has seen steady economic growth, driven by domestic demand and significant foreign investment in various sectors, including chemicals and pharmaceuticals. However, challenges such as labor shortages and rising public debt pose risks to future economic stability.

Belgium offers a competitive investment climate characterized by an open economy and strategic location as a logistical gateway to Europe. The government has implemented measures to reduce the tax burden on labor and has lowered the corporate tax rate from 35% to 25%, enhancing its attractiveness for foreign investment. Additionally, Belgium's dynamic economy attracts significant investment across various sectors, including chemicals, health technologies, and information technology.