Luxembourg Business, Taxation and Offshore Information
Luxembourg is In and Of the European Union
Luxembourg is a constitutional monarchy, has a land area of about 1,000 sq miles, a population of just over 500,000, and is sandwiched between Belgium, France and Germany. With Belgium and the Netherlands, it forms part of Benelux, which was a precursor of the EU. Luxembourg was a founder-member of the EU and hosts many of the EU's financial institutions. Languages spoken are French, German and English, with Luxemburgish the everyday language of Luxembourgers.
Economy Buoyant Based on Financial Services
Luxembourg's economy was dominated by steel production, but since the Second World War the Government has successfully encouraged development of a diversified financial sector. Tourism is also important. In Europe, Luxembourg has the second most extensive banking industry after London with over 150 banks (at the time of writing). The Luxembourg private banking industry is possibly Europe's biggest. The Stock Exchange specialises in collective investment funds and many of the several thousand Luxembourg-registered funds are also listed there. More »