14 December 2015
Luxembourg plans to be Europe’s major financial centre
The Grand Duchy has grand plans
Britain's Telegraph newspaper has reported that Luxembourg plans to
make its financial centre the European leader in its field within the next five years.
The newspaper says that the Grand Duchy hopes to outperform London by attracting
corporate, investment fund, family office and high net worth individual investors, with an
especial interest in the emerging area of .
London remains Europe's leading financial centre; however, a number of recent
issues, including concerns regarding Britain's possible exit from the European Union mean that
the position of England's capital could soon be under threat. Unlike Britain, Luxembourg's
position in the EU is firmly entrenched and it is almost impossible to imagine a situation in
which it might leave.
"Luxembourg's financial centre will continue to improve its competitiveness and
establish itself as the destination of choice in the European Union for international
investors," Nicolas Mackel, chief of public-private group Luxembourg for Finance told press.
"In particular, Luxembourg is strategically positioned to become one of Europe's
fintech leaders and offers the physical, regulatory and investment environment for financial
technology businesses to bring new products and services to market."
Luxembourg continues to demonstrate its commitment to key considerations such as
innovation in Fintech, artificial intelligence investment, intellectual property rights
management and tax transparency so it is entirely credible to imagine that it might soon
overtake London as Europe's financial capital, particularly if Britain does decide to exit the
EU.
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investment in Innovation
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