About the Grand Duchy of Luxembourg
Luxembourg: in a nutshell
Luxembourg is situated in the center of Europe, between Belgium, Germany and France. The small country has a land area of 2,586 km2 and a population of 524,000 inhabitants. The Grand Duchy became fully independent in 1867 and has today the political system of a constitutional monarchy with a Prime Minister. Luxembourg’s Government has a strong reputation for its efficiency due to a long tradition of cooperation between the two biggest political parties in the interest of social peace and the creation of a business friendly environment. The official languages are Luxembourgish, French and German.
The Grand-Duchy is a full member of all major international institutions and afounding member of the European Union.
A number of major European institutions, including the European Investment Bank, the Court of Justice of the European Union and the European Court of Auditors, have their headquarters in Luxembourg.
Luxembourg: an attractive business environment
In today’s global world, it is increasingly important for companies that operate internationally to assess the attractiveness of countries or markets.
Luxembourg has much to offer in this respect. Comparisons with other countries illustrate its appeal as a place to do business and its excellent performance in many business areas.
What makes Luxembourg stand apart is that it combines a number of very different attributes to make it a special place:
Dynamic financial services
Luxembourg’s success in the financial sector was originally driven by external factors. Subsequently the industry took advantage of its highly experienced and skilled work force, its substantial international clientele and the favorable regulatory environment and widely expanded its range of services and products. As of today 143 banking institutions offer the entire spectrum of corporate and private banking services.
Luxembourg is an international center of excellence for asset management, management of funds and the distribution of funds. Today, Luxembourg is the undisputed leader in cross-border sales of investment funds, Europe’s largest center for investment funds and 2nd largest investment fund center worldwide.
The country’s large number of private banking clients also benefits the insurance sector. Insurance companies sell various products that are used by institutional clients as asset management tools for their mainly foreign clients.
The Luxembourg Stock Exchange
The Luxembourg Stock Exchange opened in 1929. Since then it has gained a strong reputation for its expertise and efficiency (in terms of quality, speed, security and pricing) in listings, especially in the field of issuance of international bonds, investment funds and global depositary receipts.
Today, the Luxembourg Stock Exchange is ranked first in the issue of international bonds within Europe (more than 29,000 debt securities listed in early 2012). This success is also due to a solid legal and regulatory framework, the huge financial community in Luxembourg and the multiple legal vehicles in Luxembourg that benefit from attractive tax regimes.
The Luxembourg Stock Exchange has operated two markets since 2005: an EU-regulated market (Bourse de Luxembourg) and an exchange-regulated market (Euro MTF multilateral trading facility).
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