Tax reform 2026: what impacts for your financial assets?

Did you know that theBelgian wealth taxwill experience a major transformation on January 1, 2026?

Indeed,a 10% tax on capital gainswill be introduced, while the Cayman tax regime will be readjusted following a ruling by the Constitutional Court. This dual development requires increased vigilance on individuals and asset managers.

Based inBrussels, our law firm guides you in adapting your wealth strategy.

Capital gains: a new tax situation

The new tax will apply to capital gains made on a broad spectrum of financial assets: stocks, bonds, funds, crypto-assets, currencies, precious metals, etc.

Only gains accumulated before December 31, 2025 will be preserved thanks to a “step-up” mechanism.

• The regime applies to individuals and entities subject to corporate tax (non-commercial or similar purposes), but not to companies subject to traditional corporate tax.  
• The tax only covers capital gains made “within the normal management of private assets”, excluding professional activities/active or speculative management.  

Be careful also with your funds, with a risk of double taxationwhich must be anticipated.

Revised Cayman tax: new room for maneuver

The judgment of September 18, 2025 reshuffled the cards by partially canceling the Cayman “2.1” tax. Exit the irrefutable presumption according to which a dedicated fund held more than 50% by one (or more) related persons isipso factoan abusive legal construction was annulled. The notion of real economic activity is also reviewed: asset management is no longer automatically excluded.

Consequence: structuring margins are reinforced for your funds, SPV and Soparfis. But be careful not to neglect the requirement ofeconomic substance, more essential than ever. The Cayman exit tax is also limited to capital gains arising during the period of Belgian residence.

Crypto-assets, insurance, private equity: specific issues

You are an investor incryptocurrencies? Prepare for full taxation from 2026. Careful valuation by December 31, 2025 will be key, as will preventing the risk of reclassification.

On the life insurance side (branch 21/23/44), capital gains outside the pension envelope will be taxed. It will be better to opt for the right contract. As for private equity, the new tax will be combined with the Cayman tax, with a stronger emphasis on substance and active management.

Heritage strategy: good reflexes for 2026

To navigate this new tax framework, anticipation will be your best ally. Here are some recommendations:

• Audit your financial assets from the end of 2025: enhance your assets, identify unrealized capital gains, optimize your disposal schedule.
• Strengthen the substance of your structures: human and material resources, real functions, traceability of decisions.
• Adapt your envelopes: pre/post 2026 arbitration, optimal use of exemption thresholds, review of qualifications (funds, insurance).
• Anticipate international movements: structuring upstream will be decisive.
• Stay tuned for developments: the first years of application will be crucial.

Experienced lawyer in Brussels: a key asset

Faced with these challenges, calling on an experienced lawyer will be a valuable asset. Our firm is experienced in asset tax optimization.

With in-depth expertise and constant monitoring, we support you to make the most of thetax reform 2026. Audit, structuring, defense of your interests: we place proactivity and legal security at the heart of our action.

Do you want to adjust your wealth strategy or prepare for an expatriation? We are ready to welcome you to our premises.

Taxation is changing: don’t wait until 2026 to react.