Discover Benelux | Business | Luxembourg for Finance
An international financial centre in the heart of Europe The Luxembourg financial centre is known as a centre of excellence far beyond the borders of the Benelux countries. Due to its specialisation in the distribution of cross-border financial services, Luxembourg managed to create a sustainable and diversified international financial centre. TEXT: LUXEMBOURG FOR FINANCE | MAIN PHOTO: LFF
From its origins as a Eurobond centre in the 1960s, the country subsequently developed as a private banking centre and then, since the 1980s, as a leading domicile for investment funds. Moreover, the Luxembourg Stock Exchange is globally recognised for its capacity to innovate and its efficiency, and is the listing place of choice in Europe for international bonds.
the financial centre with a comprehensive toolbox of compliant investment vehicles to meet their clients’ needs. This legal framework, combined with Luxembourg’s openness to the world and strategic location, has attracted international banks, insurance companies, investment fund promoters and specialist service providers.
Over the past decades, many new activities were developed to further diversify the financial sector. Due to its innovative spirit, Luxembourg has always been open to new trends and today counts amongst the top financial centres worldwide when it comes to activities such as the international Renminbi (Chinese yuan) business, Islamic finance or e-payment services, amongst others.
Luxembourg reduces cross-border complexity and is the ideal platform to access the different national markets in Europe. The financial centre has specialised in serving international clients with businesses and investments in several jurisdictions. Professionals in Luxembourg have the advantage of being multi-lingual, multicultural and familiar with international business, tax and regulatory environments.
The success of the financial centre is founded on the social and political stability of the Grand Duchy and on a modern legal and regulatory framework that is continuously updated, providing professionals in
Luxembourg’s commitment to a sustainable financial economy, not only on a national, but also on a European and international level, is reflected in the government’s strong commitment to transparency in fis-
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cal matters. Luxembourg is an active and positive player in the discussions at OCDE and EU level, which aim at achieving greater fairness in international tax matters. Photo: Luxembourg ONT
Today the Luxembourg financial centre is: Number 1 financial centre in the Eurozone, ahead of Frankfurt, and number 15 in the world (GFCI index – September 2014). The second largest investment fund centre in the world. The premier wealth management centre for international clients in the Eurozone. The premier centre for cross-border distribution of life assurance in the EU. The largest domicile for Islamic funds in Europe. The third largest global centre for international Renminbi activities.
Promoting Belgium, The Netherlands and Luxembourg.