Send Money to Belgium

Belgium hosts a well-established Indian community of around 36,500 people, with a concentration in Antwerp that is unlike anywhere else in Europe. Antwerp anchors the community, alongside Brussels, Ghent, Leuven, and Liege.

The Antwerp connection is built on diamonds. Indian families, many of them Jain and Palanpuri Gujarati, began arriving in the 1960s and now handle a dominant share of the city's rough and polished diamond trade, with Antwerp and Surat operating as two halves of one industry. Separately, Brussels draws Indian professionals working with European Union institutions, and Leuven and Ghent attract Indian researchers and students.

These ties make sending money to Belgium a regular requirement. Tuition, rental deposits, family support, and trade settlements all involve transfers in EUR. The diamond trade in particular moves large sums on tight settlement cycles, so timing and accurate references matter more here than on an ordinary family corridor.

Even small differences in exchange rates or fees affect the final amount received. BookMyForex helps you send money to Belgium with better rates, faster processing, and complete transparency at every step. 

Indian remittances to Belgium cluster very heavily in Antwerp. The city receives the highest volume by a wide margin, driven by the diamond district around Hoveniersstraat, the resident Indian community that works in it, and the Jain temple and schools that serve them.

Brussels attracts steady inflows tied to European institutions, diplomatic missions, and corporate offices. Leuven and Ghent receive transfers connected to universities and research staff, while Liege, Mechelen, and Bruges see smaller but regular flows linked to logistics and small businesses. Hasselt and Turnhout see occasional flows tied to diamond cutting workshops and smaller manufacturers. 

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Accurate beneficiary details, including the recipient's IBAN and the bank's BIC or SWIFT code, are essential, and Belgian banks check the account holder name against the IBAN before releasing funds.

Most recipients hold accounts with major banks such as BNP Paribas Fortis, KBC, Belfius, or ING Belgium, making bank-to-bank transfers the preferred and most reliable method. Funds sent from India are credited in EUR and settle quickly through SEPA once they reach the Belgian banking system. Diamond trade payments are closely documented, so the invoice reference should be entered exactly. 

As per the Union Budget 2026, Tax Collected at Source (TCS) applies to outward remittances under LRS based on the purpose and amount of transfer. Here are the applicable TCS rates:

● Education via education loan: 0% TCS (any amount)
● Self-funded education & medical treatment: Nil up to ₹10 lakh; 2% above ₹10 lakh
● All other outward remittances: Nil up to ₹10 lakh; 20% above ₹10 lakh

Note: TCS is not a final tax, it can be claimed as credit when filing your ITR. BookMyForex auto-calculates applicable TCS at checkout so there are no surprises.

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