Luxembourg Business, Taxation and Offshore Information
Luxembourg is in and of the European Union
Luxembourg is a constitutional monarchy and has a land area of 2,586 km2 (about 1,000 sq. miles), a population of approximately 625,000 (June 2020 estimate) and borders with Belgium, France and Germany. Luxembourg was a founding member of the EU and hosts many of its financial institutions. Languages spoken are French, German and Luxembourgish, the national language. English is also widely spoken.
Buoyant Economy Based on Financial Services
Luxembourg's economy was formerly dominated by steel production, but since the Second World War, the government has successfully encouraged a diversified financial sector to develop. Tourism is also important. In Europe, Luxembourg has the second most extensive banking industry after London with over 150 banks. Private banking is very important. The stock exchange specialises in collective investment funds and many of the several thousand Luxembourg-registered funds are also listed there. More »