---
layout: default
lang: en
permalink: /en/
title: Belgian Tax Shelter for startups and scale-ups
description: An independent guide for investors to the Belgian Tax Shelter for startups and scale-ups.
brand_label: Tax Shelter Belgium home
language_label: Choose language
skip_link: Skip to content
hero_kicker: Investing in Belgian growth
hero_title: Invest in innovation. Reduce your tax.
hero_lead: The Belgian Tax Shelter gives private investors an income tax reduction when they invest in an eligible startup or scale-up.
hero_cta: Calculate your benefit
hero_secondary: How does it work?
hero_note: A reduction of up to 45% may be available, depending on the company type and the legal conditions.
visual_label: Money flows from an investor to a growing company and a tax reduction flows back to the investor.
visual_card: Tax reduction
visual_company: Belgian company
visual_investor: Private investor
intro_kicker: The short version
intro_title: Could the Tax Shelter be for you?
intro_text: You can benefit from the Tax Shelter if you pay Belgian personal income tax, can invest part of your assets for several years, and understand that shares in young companies carry risk. The Tax Shelter reduces your tax, but it does not protect you from losing money on the investment.
intro_link: Read the frequently asked questions
benefits:
- title: A direct tax incentive
text: An eligible investment qualifies for a 25%, 30%, or 45% tax reduction.
- title: Capital for growth
text: Your investment helps young Belgian entrepreneurs build products, teams, and new markets.
- title: Simpler through crowdfunding
text: A crowdfunding platform can pre-screen companies and handle the required administrative documents for you.
rate_kicker: The percentages
rate_title: The benefit depends on the type of company
rate_intro: 45% is the highest rate, but it does not apply to every investment. Always verify that both the company and the investment meet the conditions.
rates:
- percent: 45
title: Micro-company
text: For an eligible investment in a qualifying micro-company.
- percent: 30
title: Small company
text: For an eligible investment in a qualifying startup small company.
- percent: 25
title: Scale-up
text: For an eligible investment in a qualifying small growth company.
calculator_kicker: Example calculation
calculator_title: How large could your tax benefit be?
calculator_intro: Enter a simple estimate. The calculation shows only the potential Tax Shelter benefit without the future return on the shares.
calculator_callout: Experts advise investing no more than 10% of your assets, which you can afford to leave invested for 10 years, in 10 different companies. The estimate covers basic personal income tax only.
income_label: Net taxable annual income
income_hint: estimate in euros
tax_rate_label: Estimated marginal tax rate
tax_rate_hint: calculated automatically from income
investment_label: Yearly investment
investment_hint: 10% of income by default
scenario_label: Tax Shelter scenario
calculator_result_label: Indicative tax reduction
calculator_result_note: This is an illustration, not a personal tax calculation.
calculator_limit_note: Only the first €100,000 is included in this illustration.
calculator_tax_cap_note: The tax reduction is capped at your estimated basic personal income tax.
calculator_income_note: The marginal bracket is calculated automatically using the Belgian progressive income-tax rates for income year 2026.
calculator_disclaimer: The actual reduction depends on your personal situation, the company, the investment, and the law in force.
currency_locale: en-BE
aside_title: Not every investment qualifies
aside_text: A Tax Shelter benefit exists only when the investor, the company, and the investment all meet the conditions.
aside_link: Read the conditions
footer_tagline: Clear information about the Belgian Tax Shelter for investors.
footer_sources_title: Sources
footer_disclaimer: General educational information, not personal tax or investment advice.
last_reviewed: "Last reviewed: October 2026."
no_tracking: This website uses no analytics, advertising cookies, or tracking.
source_investor: "FPS Finance: investor information"
source_rates: "FPS Finance: tax rates"
source_startup: "Vlaanderen.be: startup Tax Shelter"
source_scaleup: "Vlaanderen.be: scale-up Tax Shelter"
source_investor_url: https://fin.belgium.be/nl/particulieren/belastingvoordelen/investeren-start-up-scale-up-tax-shelter
source_rates_url: https://fin.belgium.be/en/private-individuals/tax-return/income/tax-rates
source_startup_url: https://www.vlaanderen.be/tax-shelter-voor-startende-ondernemingen
source_scaleup_url: https://www.vlaanderen.be/tax-shelter-voor-scale-ups-groeibedrijven-fod-financien
markdown_label: Markdown version
---
## What is the Belgian Tax Shelter?
The Tax Shelter for startups and scale-ups is a Belgian tax scheme designed to encourage private investment in young and growing companies. You subscribe to new shares or participative notes. If all conditions are met, you receive a reduction in your personal income tax.
It is not an upfront grant and it is not a guaranteed return. You become a shareholder in a company that still has to grow. The tax reduction is an advantage alongside any future investment return, but the investment risk remains.
## Why do investors consider it?
### You invest in the real economy
Startups and scale-ups use capital to develop products, hire people, expand internationally, or accelerate commercial growth. Your investment supports that growth phase.
### The tax reduction lowers the initial cost
An eligible investment may reduce part of the amount of personal income tax. The exact percentage depends on the company category.
### The scheme gives long-term investing a clear framework
The rules define the timing, documents, and minimum holding period that matter. This helps you assess an opportunity beyond its headline tax percentage. When you invest through a crowdfunding platform, the administrative tasks are taken care of for you.
## How does it work?
1. You select a company eligible for the Tax Shelter.
2. You subscribe to new shares at incorporation or in an eligible capital increase.
3. You fully pay for the investment according to the issue terms.
4. The company or crowdfunding platform provides a tax certificate each year.
5. You report the amount shown on that certificate in your tax return.
6. You hold the investment for the required period.
An investment may be made directly or through a qualifying crowdfunding platform, starter fund, or financing vehicle. [Lita](https://lita.co) and [Spreds](https://www.spreds.com/en/tax-shelter) are crowdfunding platforms offering Tax Shelter investments.
## Who can receive the benefit?
The scheme generally concerns individuals who are subject to Belgian personal income tax. Some non-residents may also qualify when at least 75% of their professional income is taxable in Belgium.
An investment made through a company is not the same as an investment made by an individual. The Tax Shelter benefit applies only to the personal income tax reduction. Company directors who invest in the company in which they directly or indirectly exercise their director activity are excluded.
## Startup or scale-up?
### Tax Shelter startup
A startup investment is made at incorporation or through a capital increase within the first four years after incorporation. A micro-company can provide a 45% reduction and a small company can provide a 30% reduction when all conditions are met.
### Tax Shelter scale-up
A scale-up investment is made through a capital increase during the legal investment window from the fifth through the tenth year after incorporation. The rate for an eligible small growth company is 25%.
A scale-up must also meet growth criteria. These include requirements concerning the size of the team and growth in employment and/or turnover. The company must be able to demonstrate that it meets the current legal conditions.
## Important limits and obligations
You can claim a maximum of €100,000 per person per year across the combined Tax Shelter startup and scale-up reductions. Married couples and legally cohabiting partners each have their own limit.
The shares must be fully paid up and held for the required period. For a startup, the relevant holding period is generally 48 months. For a scale-up, the consequences of a change can depend on the specific condition and applicable period.
## Before you invest
Investing in a young company is venture capital. You can lose part or all of the amount invested. Shares in an unlisted company can also be difficult to sell. A tax reduction does not automatically make a poor investment a good one.
Review the business model, valuation, team, funding needs, shareholders’ agreement, expected liquidity, and costs. Diversify your risk and invest only an amount you can leave invested for several years.
The calculator on this page provides an indicative tax reduction. It does not assess whether an investment is suitable for you and does not calculate your personal tax return.
## Frequently asked questions
### Is a Tax Shelter investment a tax-free investment?
No. You are genuinely investing in shares or participative notes. The value can rise or fall and repayment of your capital is not guaranteed.
### Do I always get 45% back?
No. 45% applies only to an eligible investment in a micro-company. The rate is 30% for a qualifying startup small company and 25% for an eligible scale-up.
### Can I invest more than €100,000?
Yes, but only €100,000 per person per year can qualify for the combined Tax Shelter reductions.
### Which documents do I need to keep?
You need the annual tax certificate. You request it from the company, or it is sent to you automatically when you invest through a crowdfunding platform. The crowdfunding platform also reports this to FPS Finance so that your tax return is already pre-filled.
### Where do I report the investment?
Codes can change from one tax year to another. For the currently published return, FPS Finance refers to section X, II and codes 1318/2318, 1320/2320, and 1334/2334 depending on the rate. Always use the certificate and the latest tax-return instructions.
### Can my accountant confirm whether I qualify?
Yes. Before investing, ask them to check your investor status, the company’s eligibility, and whether you pay enough personal income tax to make practical use of the benefit.
## Sources and updates
This content is based on official information from the Belgian authorities:
- [FPS Finance: investing in a startup or scale-up](https://fin.belgium.be/nl/particulieren/belastingvoordelen/investeren-start-up-scale-up-tax-shelter)
- [FPS Finance: startup companies](https://financien.belgium.be/nl/ondernemingen/tax-shelter-kleine-ondernemingen/startende-start-up)
- [FPS Finance: scale-up companies](https://financien.belgium.be/nl/ondernemingen/tax-shelter-kleine-ondernemingen/groeibedrijven-scale-up)
- [FPS Finance: tax rates](https://fin.belgium.be/en/private-individuals/tax-return/income/tax-rates)
- [Vlaanderen.be: startup Tax Shelter](https://www.vlaanderen.be/tax-shelter-voor-startende-ondernemingen)
- [Vlaanderen.be: scale-up Tax Shelter](https://www.vlaanderen.be/tax-shelter-voor-scale-ups-groeibedrijven-fod-financien)
The rules can change. Always check the latest official information before investing.