Serving Countries
Luxembourg

 

Introduction

Luxembourg is a very small country in the heart of Europe. It is located between Belgium, France and Germany and is part of the so called BeNeLux countries (Belgium, Netherlands, and Luxembourg). It stretches around 2’500 square kilometers and thus is one the smallest countries in Europe. Luxembourg has 509’074 residents, which makes it a densely populated country.

 

Official languages are French, German and Luxembourgish. Luxembourg is one of the founding members of the European Union. Moreover, it was also part of the Euro currency since its beginning in 1999. Because of its convenient location in the center of Europe Luxembourg serves as site for various institutions of the EU, such as the European Court of Justice and the European Investment bank.

 

Luxembourg is one of the richest countries in the world measured by the GDP by capita, which is at 80’000 $. The overall GDP is at 41 billion $. Because of its favorable taxes Luxembourg also serves as a base for many international firms.

 

Luxembourg is the world’s second largest investment fund center and the most important private banking center in the Eurozone.

 

Foundation of a company

The possible forms of the company include the popular public limited company (société anonym – SA) and the limited liability company (société à responsabilité limitée – SARL or SL).

 

First of all a company name has to be selected, which makes the company distinguishable from any other Luxembourg companies. Then the articles of incorporation are prepared and submitted to a notary. They can be written in Luxembourgian, French, German or English.

 

As a next step the capital deposit has to be paid into a blocked account at a European bank. The capital deposit for a SA is 31’000€ and 12’500€ for an SL.

 

The notary will certify the company incorporation when he has the following documents:

-    Bank certification of capital deposit

-    Copy of the applicant’s passport

-    Proxy statements for the persons appearing before the notary as the

     partners’ representatives;

-    Declaration of the final commercial beneficiary of the company.

 

The articles of incorporation are then signed, either by the founding partners themselves or in accordance with the proxy statement, and certified by the notary. Following this process, the company can begin its intended work.

 

The company must be registered and entered into the commercial registry and published in the gazette.