I am about to start a contract in Belgium, through a limited company. I will invoice the customer/company and they will pay in EUROs. I have a standard business account with Santander, who will except payments in EURO for no fee. Would not having a foreign currency account, create frustration for the customer/company paying me? Potentially, they may hit a fee.
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Do I need a foreign currency account?
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Euro transfers are free in EU, so no fee for your client.
I think you need to be careful of the tax situation in belgium though. tax and social insurance is due where the work is done. -
Originally posted by Mammoth View PostI am about to start a contract in Belgium, through a limited company. I will invoice the customer/company and they will pay in EUROs. I have a standard business account with Santander, who will except payments in EURO for no fee. Would not having a foreign currency account, create frustration for the customer/company paying me? Potentially, they may hit a fee.
The money will just be converted at the standard rate the bank uses on that day for transfers though. If you need the money right away, then that's fine, but it may be a good idea to have a euro account so that you can make the conversion at a time when the rate is favourable. You'll also get a better rate for higher amounts. It's not without risk though.
If you're in begium you'll also need to pay for food etc, so if you can get a card with it or can transfer to a local account for free, you'd be better off using the euros directly rather than converting to GBP then converting back to EUR for anything you buy over there.Comment
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Originally posted by Mammoth View PostThanks for your advice, it is appreciated.
Belgium can be a real nightmare, - i think there are threads on here about it all.
well worth a read. IMHOComment
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Yeah I don’t respond to agencies as soon as they mention Belgium, 56% Tax out of the box, I know there are ways but I prefer the straightforward these days. You get bitten in the end unless you go local brolly/payroll and in BE take the massive hit.Comment
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Originally posted by stek View PostYeah I don’t respond to agencies as soon as they mention Belgium, 56% Tax out of the box, I know there are ways but I prefer the straightforward these days. You get bitten in the end unless you go local brolly/payroll and in BE take the massive hit.Comment
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Originally posted by BR14 View Postthis, - i lived in NL and wouldn't entertain belgium gigs.
Good luck fellaComment
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