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Receiving money from family
If you don't employ an accountant, this is something that you should discuss with your bankers.
Anything over €10,000.00 will be subject to scrutiny by your bank to ensure that money laundering is not involved. It isn't a case of declaring it; rather of explaining it.
However, the most significant factor is where rich uncle lives. Many/most countries have rules in place to ensure that rich people do not give money away in order to avoid inheritance taxes when they die. It is up to uncle to check this out before deciding what he will do.
It probably depends on which region in Belgium that the gift takes place. Probably you would/should have to pay 7% tax on the gift irrespective of the amount, but don't take my word for it, ask a notaire.
thats real funny, 7%!! more like 67% if its not a parent or sibling. But agreed, notaire is the best to ask. Or put it offshore
I think the post above has got it right, it would be more like 67% than 7%. Wouldn't risk bringing any substantial amount into Belgium, without getting some professional advice on the taxation, otherwise before you know it, the taxman will have his sticky fingers on it!
There are many essential implications of gifting in Belgium and it’s mainly dependent on your individual situation. I would be glad to offer a free consultation. Please feel free to contact me at rob@dunhillfinancial.be