Information On The Offshore Banking System In Luxembourg

Country name:  Luxembourg

Geographic location:  Luxenbourg is a small, landlocked country in western Europe of approximately 1000 square miles, bordered by Belgium, France, and Germany.

Official languages:  German, French and Luxembourgish are official languages

Languages commonly spoken in offshore banks: While English is spoken, French and German are the primary languages used, due to the close proximity of both countries.

Population:  500,000

GDP per capita: $79,400

Currency: The Franc was replaced by the Euro(EUR) in 2002.

Summary: For the right type of non-EU resident investor, Luxenbourg could be seen as a very safe place country to use as a haven, to avoid paying taxes on their money.  Offering accounts that will allow non-EU citizen's money to grow tax free, in a country which has a history of respecting bank client's privacy that verges on being cultural, Luxembourge should be considered one of the first on their list for opening off-shore accounts. 

Infrastructure and economy:  Though small in size, it is one of the wealthier countrys in Europe, with an average yearly GDP of over USD 25 billion.  The steel industry, along with its place as a leading international finance center, both play a strong role in Luxembourg's economy.

Legal system:  Executive power is held by the Grand Duke and a Cabinet of 12 ministers. The legislative power rests with a Parliament (Chamber of Deputies). The legal system is based on Civil Law(the most common in the world), which in turn means that the laws that are followed have already been established.

Did you know? / Special services:  Not only are off-shore banking clients offered the services they are use to receiving from most banks, other services available include gold and FX trading, trade finance, securities listing and multi-currency lending. The off-shore banks of Luxembourg also offer a level of confidentiality very seldom found in the international banking community.  Luxembourg banks even go so far as to provide shredders for their client's use.     

Links to bank websites:

http://www.bank1saar.de

http://www.societegenerale.fr

http://www.dexia.be

http://www.creditmutuel.fr

http://banking.sparkassemerzig-wadern.de