An informative brochure to guide entrepreneurs through the process of opening a business bank account in Luxembourg! Introduction: The launch of a company is a vibrant journey, the ultimate aim for the entrepreneur being to achieve a vision that has been nurtured for months. It is the moment when abstract ideas turn into a concrete and tangible venture. Choosing the entrepreneurial path is thus a way of constantly developing new ideas. In these endeavors, preparation should not be left to chance, and the entrepreneur most not solely rely on initial intuition and passion. Preparing a business launch is very similar to the process of gardening, where a plant can only thrive through consistent care and the incorporation of essential ingredients at the right moment, that foster fertile ground. Indeed, no business idea can be transformed into a tangible venture without …
International companies interested in exploring Luxembourg as a potential European location can count on the support of the Luxembourg Trade and Investment Offices (LTIOs). We spoke to Paul Steinmetz, Executive Director of LTIO New York, about what attracts US companies to Luxembourg and business synergies between the two countries. What aspects of the Luxembourg economy and business climate do US companies find interesting? We regularly ask this question of US companies in Luxembourg because we want to make sure they feel comfortable and well-supported. What their CEOs tell us is that Luxembourg is an ideal gateway to Europe. This might sound like a government slogan but is truthful. The Grand Duchy’s geographical location within easy reach of major markets, the neutral attitude of the internationally-focused and business-minded political class, and especially the officials’ accessibility are constantly mentioned by our US friends. The fact that English is widely spoken and transparently used in Luxembourg, even in legal and administrative procedures, is another strategic advantage. …
LACC Mission Delegates enjoyed a wonderful dinner hosted by Mr. Camille Nicolas Fohl, Chairman of the Board of Directors, and Mr. Romain Wehles, Executive Vice President and Member of the Executive Committee of Spuerkeess. This very special evening took place on October 18th at the bank headquarters located in the historic former ARBED building built in 1922 (photo above). Since its foundation in 1856, Spuerkeess, the State and Savings Bank, Luxembourg, fully owned by the Luxembourg State, has been deeply enshrined in the fabric of the Grand-Duchy of Luxembourg. The statutory mission of the Bank consists of promoting savings, facilitating access to housing, and supporting the economic and social development of the country. Today, Spuerkeess, is the leader in both retail banking and domestic SME markets in Luxembourg, and as universal bank also in providing bank services to institutional clients. The …
The Luxembourg American Chamber of Commerce is pleased to partner with the French-American Chamber of Commerce in New York in order to provide our LACC member companies with access to J-1 Visas and the Exchange Visitor Program. The French-American Chamber of Commerce in New York is a U.S. Department of State accredited sponsor of the Exchange Visitor Program, facilitated by the J-1 visa. The FACC has generously extended their services to LACC member companies. If you are a member of the LACC and are interested in being a host company utilizing the J-1 visa program, please contact LACC Executive Director, Ms. Toni Dudsak, tdudsak@laccnyc.org for more information. Becoming a host company will be made easy for you! The FACC will take a personalized approach to each visa, with a dedicated account manager. Your LACC membership is all you need to access this valuable service. Here is …
Jamie Dimon’s presence for JPMorgan Chase & Co.’s golden jubilee in Luxembourg reinforces Luxembourg’s key role in EU banking after Brexit. The Grand Duchy managed to grow its share of the financial services sector, including major banking groups such as Citibank and HSBC establishing their EU private banking HQs in the country, or Bank of America opening an office to offer transaction services to corporates and asset managers across the EU. READ MORE
Read about this great event that took place last month! photo credit: Chamber of Commerce Luxembourg On Tuesday 27 June 2023, the Luxembourg Chamber of Commerce organised the first edition of its flagship event "Go International Day", aimed at Luxembourg companies interested in venturing abroad. Together with its partners, the Luxembourg Chamber of Commerce showcased the range of services it offers Luxembourg companies, while focusing on opportunities, challenges and the latest trends in international business, as well as highlighting international know-how. Practical workshops, tailored "Business2Advisors" meetings and stands featuring services were on the agenda. Among the guests were His Royal Highness the Hereditary Grand Duke of Luxembourg and Franz Fayot, Luxembourg's Minister of the Economy. In his keynote, Minister Fayot highlighted the framework put in place by his ministry to support Luxembourg companies in venturing abroad, such as the Business …
Discover a new video from Luxembourg Trade & Investment 31-05-2023 An increasing number of companies looking to expand their business across the European market are strongly considering coming to Luxembourg. The latest Luxembourg Trade & Invest video will take you on a tour through the most international country in the EU that is first in the world for trade openness, an inter-continental logistics hub and a perfect testbed for new products and learn why companies that have already come here chose the Grand Duchy as their home. The partners of Luxembourg Trade & Invest offer a range of high-quality, free services to help international companies set up European offices in Luxembourg. Their sector experts and international network will support you every step of the way, from your first inquiry to the launch of full-scale operations. Contact Luxembourg Trade …
This article was published for the Delano Finance newsletter, the weekly source for financial news in Luxembourg. Subscribe using this link. The Association of the Luxembourg Fund Industry kicks off its US roadshow this week. Delano caught up with Alfi director Britta Borneff and Elvinger partner Nicolas Fermaud to find out why this year’s roadshow will be different from previous visits across the Atlantic. This year’s roadshow to the United States starts on 24 May with stops in New York and Boston. Alfi is also organising a friendly golf tournament for attendees in New Jersey, a new addition to this year’s format. “It’s the first time that we organise a golf tournament in the US. The aim is to get a few people together, network and strengthen team spirit,” said Britta Borneff, Alfi’s new director of events, communications and …
The LACC and LTIO New York joined forces on May the 4th to host an evening of networking focused on the space industry. Guests enjoyed an evening at the Luxembourg House and remarks from Consul General, Mr. Paul Steinmetz. Below please find additional information from Mr. Steinmetz. EVENT PHOTOS Reaching for the Stars LUXEMBOURG’S SPACE ECOSYSTEM: For those who are not yet totally familiar with Luxembourg’s space ecosystem: First, a bit of historical background: it all started with RTL in 1929 in media and telecom, but especially in 1985, with the creation of SES, Société Européenne des Satellites: a landmark for satellite telecommunications and still a global leader today with a big presence in the US. Since then, further space-related services and businesses have developed alongside SES, giving birth to an entire space industry in Luxembourg. Today, …