Locations

Luxembourg

• Prominent banking centre and tax haven
• Beautiful and historic country

A small country landlocked by Belgium, France and Germany – Luxembourg is a prominent banking centre and tax haven. With roots stretching back to the 10th century, Luxembourg's history is closely intertwined with that of its more powerful neighbours, especially Germany. Many of its inhabitants are trilingual in French, German and Luxembourgish.

Economy

Luxembourg has a stable, high-income economy with low unemployment. The financial sector is growing, but the industrial sector still plays a large part in the economy.

Banking is the largest sector in the Luxembourg economy. The country is a tax haven and attracts capital from other countries as the costs of investing through Luxembourg are low. At the end of March 2006, there were 155 banks in Luxembourg, with 23,000 employees. Political stability, good communications, easy access to other European centres, skilled multilingual staff, and a tradition of banking secrecy have all contributed to the growth of the financial sector. It is the world’s second largest investment fund centre and the most important private banking centre in Europe.

Immigration

EU Nationals are able to work in Luxembourg without a permit. For the rest of the world, your employer will need to apply for a work permit for you. For accounting and finance professionals there shouldn’t be difficulty obtaining a work permit for positions at managerial level or above.