Wealth management in Belgium

"Alexis, we're moving to Brussels for at least five years. We've been told there's no wealth tax in Belgium. What about inheritance?"

Inheritance is precisely the point to consider. Belgium does not have a wealth tax, but its inheritance taxes are regional — Brussels, Wallonia and Flanders each have their own scale — and higher than people think in the direct line.

Belgium has 126,452 French nationals on the consular register at 31 December 2025, a rise of +2.2% over one year: the fourth-largest French community abroad.

Two treaties apply: that of 10 March 1964 for income tax, and that of 20 January 1959 for inheritance. At Balmont Conseil, we read them together with the law of the region where you settle, because that is what sets the rate.

1. Why seek expert wealth management in Belgium?

Four points, the first of which depends on your address.

The region decides inheritance tax. Scales, allowances, treatment of the spouse and of gifts differ between Brussels, Wallonia and Flanders. Choosing your municipality is also an estate planning choice.
The 1959 estate tax treaty. It allocates the right to tax between France and Belgium: real estate is taxed where it is located, other assets in principle in the State of the deceased's domicile.
The new treaty is not in force. Signed on 9 November 2021, it had still not been ratified in 2026: the 1964 treaty applies, with its amendments.
Exit tax deferred automatically. As Belgium is an EU member, the deferral of payment is automatic, with no guarantee required.

2. The France ↔ Belgium framework in five verified points

Here is the applicable framework, checked against official sources as at 1st October 2026.

French nationals on the register	126,452 at 31 December 2025 (+2.2% over one year), fourth-largest French community abroad.
Income tax treaty	Yes — treaty of 10 March 1964, amended by several protocols. The new treaty signed on 9 November 2021 has not yet entered into force.
Estate tax treaty	Yes — treaty of 20 January 1959 on inheritance tax, never terminated.
Exit tax — deferral of payment	Automatic deferral of payment, Belgium being a member state of the European Union.
CSG and CRDS on property income and capital gains	7.5% for a person covered by the Belgian social security system: only the solidarity levy is due on French-source property income and real estate capital gains.

Sources: list of tax treaties concluded by France (BOI-ANNX-000306, updated 29 April 2026); exchange-of-information and recovery-assistance clauses (BOI-ANNX-000508, position at 8 October 2025); register of French nationals living outside France at 31 December 2025 (Ministry for Europe and Foreign Affairs); text of the treaty published by impots.gouv.fr; impots.gouv.fr for non-residents' social charges. Position as at 1st October 2026.

What the 1959 treaty settles. A property located in France remains taxed in France upon your death; your investments and accounts are generally taxed in Belgium, according to the tax rates of your region. This allocation rule prevents double taxation.

What to check before making a gift. Gifts follow different rules from inheritance, on both sides of the border. A gift to a child domiciled in France is prepared with Article 750 ter of the French Tax Code in front of you.

On exit tax. The deferral is automatic, but the return is still mandatory in the year of departure and in following years, for as long as the deferral runs.

3. Our services: 360° support for expatriates and investors

Three workstreams, in the order in which they are decided.

The choice of region

With a Belgian adviser, we compare the inheritance and gift taxes of the three regions on your actual figures: assets, number of children, spouse. The difference can run to tens of thousands of euros.

Inheritance tax rates for each region, applied to your estate.
Treatment of the spouse and prior gifts.
Assets located in France, taxed in France.

Your French investments

Assurance-vie, PEA, securities account: we examine what happens to each wrapper once in Belgium, what is kept and what is reorganised before departure.

A Luxembourg assurance-vie contract can be adapted to Belgian taxation; this needs to be examined with a local adviser.

Passing on wealth across two countries

We establish, asset by asset, which State would tax your estate under the 1959 treaty, then we prepare gifts and beneficiary clauses accordingly.

4. Methodology: our way of working

We work in four stages, and at each stage you know where you stand.

The initial review. We establish your actual situation: the make-up of your wealth, the project timeline, the situation of each member of the household, and the tax domicile of your heirs — because it is theirs that counts, not yours.
The applicable framework. We set out, source by source and with its date, the framework that applies to you. What we do not know, we mark “to be confirmed” — never anything else.
The choices. We present the options with figures and their respective consequences, and you decide. Wealth structuring comes after the decision, not before.
Ongoing monitoring. An annual review, free of charge, to check that the framework has not moved — treaties are amended, incentive regimes are abolished, thresholds change.

5. What the firm offers you

What concretely sets our work apart.

Sources, not claims. Every item in your file carries its reference and its date. You can check. It is the only way to work on a subject where most of the information available online is out of date.
A single point of contact in France. We coordinate your local advisers; we do not replace them: the host country's domestic tax rules are handled with a qualified professional on the ground. Our role is to keep the whole picture consistent and to defend the French side of the file.
Fees that are easy to understand. Fees disclosed before any commitment: fixed-price reviews, tailor-made engagements at €500 incl. VAT per hour, insurers' commissions on contracts taken out. The annual review is free of charge.

Frequently asked questions: Belgium

Is there an estate tax treaty between France and Belgium?

Yes: the treaty of 20 January 1959, still in force. Real estate is taxed in the State where it is located; other assets, in principle, in the State of the deceased's domicile. It thus prevents the same estate from being taxed twice.

Which tax treaty applies in 2026?

The treaty of 10 March 1964, with its amendments. The new treaty signed on 9 November 2021 had still not been ratified in 2026: it does not apply until it has entered into force.

Does the exit tax apply if I go to Belgium?

Yes, if your securities exceed €800,000 or if you hold at least 50% of a company's profits (Article 167 bis of the French General Tax Code). Payment is automatically suspended, without guarantee, but filing a tax return remains mandatory.

Will I pay CSG on my French rental income?

If you are covered by Belgian social security, you pay only the 7.5% solidarity levy on your French-source property income and real estate capital gains, instead of 17.2%.

Does Belgium tax wealth?

There is no general wealth tax in Belgium. Your real estate in France, however, remains within the scope of the French IFI (real estate wealth tax) if it exceeds €1.3 million net (Article 964 of the French Tax Code).

In summary

Belgium's relations with France are governed by the 1964 treaty for income tax and the 1959 treaty for inheritance, and it defers exit tax automatically.

The real factor is regional: Brussels, Wallonia, and Flanders do not tax inheritances in the same way. This choice must be made before signing the lease.

Firm's fees: €500 incl. VAT per hour. Annual follow-up is free of charge.