Independent financial education · Belgium-specific · Primary-source verified
Invest in Belgium, without the tax surprises.
A free, comprehensive guide for retail investors in Belgium covering ETFs, brokers, taxes and pensions. No sales pitch, no affiliate links, no advice — just clear explanations grounded in the official sources from FPS Finance, FSMA and the National Bank.
Whether you’re just starting out, an expat in Brussels or Antwerp, or you’ve been investing for years and want to understand what the new 2026 capital-gains tax means for you: you’ll find the answer here, with numbers, examples and source citations.
Start here
Four paths through investnow.be, depending on where you are today. Each path links to our most-read pillar articles.
2026 — what changed for the Belgian investor?
2026 is the most consequential tax year for Belgian investors in a generation. Three changes directly affect how much you keep on your returns:
10% on realised gains above €10,000 per person per year. Carry-forward of €1,000/year for 5 years (max €5,000 cumulative). Applies to shares, ETFs, bonds, funds, life insurance and crypto. Real estate is out of scope. Read more →
The annual securities tax on accounts above €1 million doubled from 0.15% to 0.30% under the law of 18 December 2025. Applicable to reference periods starting 1 October 2025. Calculated per account, not per person. Read more (NL) →
From 1 June 2026, Belgian brokers (Bolero, Keytrade, MeDirect) will automatically withhold the 10% CGT. Want to file yourself? Activate opt-out before the statutory deadline (estimated 31 August 2026 — verify with FPS Finance). Compare brokers →
💡 Not sure what this means for you? The Reynders tax explainer and the VVPR-bis guide together cover the four most important Belgian investment taxes for 2026 — TOB, withholding, CGT and Reynders — with numbers and examples for your situation.
Topics
12 topical pillars and 70+ deep-dive spoke articles. Four pillars are available in English; the others remain in Dutch while translations roll out.
Frequently asked questions about investing in Belgium
The questions we get most often at investnow.be — short answers with links to the full pillars.
How much tax do I pay on capital gains from my investments in 2026?
Since 1 January 2026, a new 10% capital-gains tax applies to realised gains above an annual exemption of €10,000 per person. Unused exemption can be carried forward at €1,000/year for 5 years (cumulative cap €5,000), so in year 6 up to €15,000 is available. Applies to shares, ETFs, bonds, funds, life insurance and crypto. Real estate is out of scope. Full explanation on the Reynders tax / 2026 CGT spoke.
What’s the difference between VWCE and IWDA?
VWCE (Vanguard FTSE All-World) tracks the entire world including emerging markets in one fund. IWDA (iShares Core MSCI World) tracks only developed markets — emerging markets can be added separately via EIMI. The most important Belgian-tax difference: VWCE is subject to 1.32% TOB (FSMA-registered via the compartment rule) while IWDA pays 0.12% TOB. On a €10,000 purchase that’s €132 vs €12 — a factor of 11. Comparison on the world-ETF top choices spoke.
Which broker is best for a Belgian retail investor?
No broker is “best” for everyone. Bolero (KBC), Keytrade and MeDirect are Belgian-licensed and handle the full tax administration for you (TOB, withholding, CGT, Reynders). DEGIRO withholds TOB automatically but you self-file Reynders and CGT. Trade Republic and Interactive Brokers require full self-filing. Our Bolero review and Interactive Brokers review compare them on costs, tax automation and deposit protection.
Do I have to declare my foreign account (DEGIRO, Trade Republic, IBKR)?
Yes — two obligations. (1) One-time registration with the Central Point of Contact (CPC) at the National Bank when opening, and (2) annual mention in section XIII part A code 1075-89 of your personal income-tax return. Additionally, users of Trade Republic and Interactive Brokers must self-file the TOB monthly via MyMinfin → Diverse Taxes. The NBB declaration spoke (NL) describes the steps.
Pension savings €1,050 or €1,350 — which should I choose?
€1,050 gives a 30% tax reduction (€315). €1,350 gives 25% (€337.50). From contributions above €1,166, the €1,350 option delivers a higher absolute reduction. Important condition: the €1,350 option must be explicitly requested with your provider (the deadline varies by bank/insurer — there is no single statutory date). Contributions are allowed up to the calendar year you turn 64. Full explanation on the pension planning pillar (NL).
What is the Reynders tax and does it still apply in 2026?
The Reynders tax (article 19bis ITC92) remains unchanged in 2026: 30% on the TIS (Taxable Income per Share) of the bond portion of funds and ETFs upon sale, with a threshold of 10% bond content for fund units bought from 1 January 2018 onwards (25% for older purchases). The 2026 reform only adjusted the treatment of the residue above the TIS: that now falls under the new 10% capital-gains tax. Detail on the Reynders tax explainer.
How big should an emergency fund be in Belgium?
Practical guideline: 3 to 6 months of fixed expenses on a Belgian regulated savings account, with the first €1,020 of interest per person per year exempt from withholding tax (art. 21, 5° ITC92, frozen until 2030). Not in stocks, not in branch 23, not in long-term bonds — a crash can hit precisely when you need the money. Full explanation on the building an emergency fund spoke.
Is investnow.be independent?
Yes. No affiliate links, no sponsoring, no sales of products or courses. We are not registered with the FSMA as an investment adviser or financial planner — so we don’t give personalised advice, only education. Decisions are yours. Read our about page (NL) and the full disclaimer (NL).
Why investnow.be?
In the Belgian financial landscape you have three kinds of sources: bank brochures (sales pitch, hidden fees), influencer content (often paid, shallow), or official texts from FPS Finance and FSMA (correct but almost unreadable). We want to be the fourth option — independent, readable explanation that summarises the official rules correctly without selling anything.
Recently published
The latest pillars and spokes — always with source citations and a date stamp.
- NBB CAP expansion 1/12/2026: the tax authority gets your securities data
- Aedifica-Cofinimmo merger 2026: hold, sell, or wait?
- Cross-border worker and brokerage account: where to open and who taxes you in 2026
- Capital Gains Tax 2026 for Cross-Border Workers: Who Taxes You?
- Federal mortgage interest deduction abolished in 2026: what happens to your old loan?
- Belgian ETF Tax Passport: TOB, Reynders & CGT for every popular ETF (2026)
The sources we rely on
Every pillar and every spoke article cites primary sources. We claim nothing we cannot back up.