64 of Belgium’s richest 100 families are beneficiaries of companies registered in Luxembourg, according to an investigation by De Tijd based on private data.
The data, which dates back to April this year, reveals that nearly two-thirds of Belgium’s wealthiest families use entities in the Grand Duchy.
In most cases, these entities are mailbox companies, which exist solely for financial and tax structuring.
They typically have no staff and share an address with hundreds or even thousands of other companies in Luxembourg.
These companies are used to hold investments, cash, real estate, luxury goods, and shares in Belgian and foreign businesses.
De Tijd estimates the combined value of these assets at €91 billion.
Luxembourg-based holding companies are fiscally advantageous compared to their Belgian counterparts, especially for passive investments.
Profits from these holdings are not taxed, and beneficiaries pay only an annual subscription fee.
Investor Marc Coucke also has four such Luxembourg mailbox companies, which collectively hold over €130 million on their balance sheets, according to De Tijd.
