Luxembourg is a country in Europe that has a strong economy, despite its small geographical size. It is known for high economic and qualify of life rankings; it currently has the highest GDP per capita. Given its status as a low-tax environment that is friendly to investors and the wealthy, Luxembourg is a great family office location. The following free guide to Luxembourg Family Offices will help you better understand Luxembourg family offices and provide you with resources to learn more about Luxembourg family offices. You should also check out our 100% free book on family offices.
Introduction to Luxembourg
Luxembourg is known as a banking capital for Europe and it has a high standard of living and a strong, stable economy. The economy is largely dependent on its thriving banking sector. Although Luxembourg got a bit of a black eye when it was listed by the G20 as one of the grey list countries with questionable banking standards (largely due to its emphasis on secrecy and privacy for its clients, and for who the clients are), Luxembourg responded by adapting OECD standards for information sharing and moved into a better category that reflects its efforts to improve transparency and meet international banking standards. It cannot be overstated how important banking and financial services are to Luxembourg.
Luxembourg is a great location for family offices because it is home to a high number of financial firms and investment funds as well as many of Europe’s wealthy families and individuals. Luxembourg already hosts several family offices such as GWM Group that have set up an office in the country to serve the local wealthy families and individuals.
Family Offices in Luxembourg
Family offices must compete with a strong private banking sector that has a deep history in Luxembourg. According to a Luxembourg for Finance, a private banking and finance magazine in Luxembourg:
“the number of family offices in luxembourg is still unknown, because there are offices managing the fortune of one family, as well as multi-family offices dealing with several clients. sGG is a luxembourg trust company that complements its global corporate
services with a Family office offering to a limited number of clients. serge krancenblum, Ceo of sGG,
explains the role of his company.
‘A family office has an overview of the whole fortune of the client: its shares in companies, its real estate properties, its various securities such as works of art and its personal and family organisation.’ While banks concentrate on the financial situation of their clients, family offices offer a whole range of services. often banks are recruited by family offices, as well as lawyers, tax advisers and supporting services. managing the fortune of a client is quite complex and based on team work. ‘it is sometimes a question of tripartite business between private bank, family office and client, which makes it somewhat more difficult, because you need to talk with two partners and it is not always clear what is on the agenda of each partner’, Adriaenssens points out.
The following is a collection of Luxembourg family office resources:
Luxembourg Family Office Resources Guide
Luxembourg Family Office Resource #1: Take a look at Luxembourg’s GPD and economic freedom report.
Luxembourg Family Office Resource #2: If you are looking for contact details of family offices in places such as Luxembourg you may want to consider using a Family Offices Database. A Family Office Database provides you with the complete contact details for 100′s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format. Learn more about this by clicking here.
Luxembourg Family Office Resource #3: Here you can read despite the pandemic Luxembourg’s private debt industry is growing as the year goes on.
Luxembourg Family Office Resource #4: This article, goes into why Luxembourg has a clear advantage for having you family office location here.
Luxembourg Family Office Resource #5: Here is an interesting article on why these powerful women have decided to start investing in Luxembourg’s economy.
Are you an employee or manager of a family office in Luxembourg? Then we’d like to keep in touch with you. Simply send us an email at Richard@RichardWilsonCapital.com
Be sure to check out FamilyOffices.com for our family office database and our free book on family offices.