Luxembourg is one of the smallest countries in Europe and is a founding member of both the European Union and the OECD; its central location has given Luxembourg greater importance than its geographical size. It is situated at the heart of Europe, with about 500 million European consumers on its doorstep, and has borders with France, Belgium and Germany, putting it within easy reach of some of the largest and most important European financial and industrial centres.
Luxembourg is a demographically and linguistically diverse country. Out of a population of approximately 590,000, 47% of Luxembourg residents are foreign nationals. The majority of Luxembourgers speaks Luxembourgish, though French and German are the main languages for administrative purposes. English is also widely used as a business language.
The Grand-Duchy of Luxembourg is the largest centre for private wealth management in the European Union. Around one hundred and forty-two international banks have been established within its borders, and numerous investment funds are domiciled in the country. The official unit of currency is the Euro.
The government is stable and strong, with a well-established pro-business agenda. It is quick to make the necessary legislative changes in order to assist the business community and encourage economic growth.
Luxembourg is an important financial centre, where investment funds, banks, reinsurance businesses and holding companies have expanded rapidly during the last fifteen years. Strong measures are in place to prevent money laundering, supporting the integrity of the marketplace.