Private Investors have the choice of banking with more than 150 banks from 25 different countries. Private banking has been a traditional activity in Luxembourg for more than 40 years and banks, alongside other financial sector professionals, have been providing sophisticated services to family offices and individuals throughout this time. Portfolio management is an important element in the spectrum of services available in Luxembourg. For high net worth individuals, numerous banks offer a global approach to the long-term structuring of all their assets (financial and professional assets, life assurance and real estate, etc.) for optimum tax and succession planning - advisory and assistance services are also offered. Wealth preservation and estate planning mostly involves family wealth management companies and fiduciary arrangements.
In its evaluation report on the financial sector in Luxembourg, the International Monetary Fund concluded that the financial system remains sound, resilient to potential adverse shocks, and is well supervised. No major weaknesses likely to pose systemic risks were identified.
As a founding member of the financial action group GAFI, Luxembourg is regularly subjected to evaluations by the organisation. These checks certify that Luxembourg complies with all the recommendations on combatting money laundering and the financing of terrorism.
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