The Grand-duchy of Luxembourg is located between Germany, France and Belgium, and is part of the European Union since its creation in 1957. This small state has always made sure that it’s service sector of the economy was boosted, especially its financial part. Actually, Luxembourg can be considered as an offshore place as all offshore bank accounts (both individual and corporate) opened there are benefiting from a strong bank secrecy for non-European residents.
Moreover, the exclusiveness and the variety of the service available there as well as the political and economical stability of this offshore jurisdiction have made the place famous worldwide. We say about Luxembourg that it’s one of the most secured international offshore destinations. That’s why individuals or companies are willing to open there an offshore bank account or to register there an offshore company. Incorporating an offshore company in Luxembourg doesn’t have a huge interest in terms of taxation as the official corporate profit tax rate is 29%. But in Luxembourg it’s quite easy to reduce the taxable income to a minimum by deducting all the operational costs related more or less to your business. The taxation authorities of Luxembourg are quite permissive which benefits to this offshore jurisdiction.
At FCBA Offshore Ltd, we do recommend our wealthy clients to open in Luxembourg an offshore bank account. But as for the incorporation of an offshore company we usually tend to favor other jurisdictions even if all situations are different. A personal study of all individual cases should be done together with FCBA Offshore experts and could anyway lead to the Luxembourg solution.
However, to open an offshore bank account or to incorporate an offshore company in Luxembourg is not that easy but thanks to our experience, our network and our partnerships with local banks we should be able to help you if and only if your profile is up to the jurisdiction.
Finally, be aware of the fact that the initial deposit required by the banks is quite big and this could prevent you from opening an offshore bank account or from having an easy and fast running business.