Luxembourg Banking

Luxembourg banking has served as an example to many other countries that have sought to expand their banking industries and financial services.  Banking in Luxembourg is one of the main financial...

Luxembourg Banking

Luxembourg banking has served as an example to many other countries that have sought to expand their banking industries and financial services. Banking in Luxembourg is one of the main financial activities in that country, and has provided many jobs, led to the creation of many specialties in banking and finance and stimulated rapid development in infrastructure and banks. Luxembourg banking is one of the most competitive worldwide because of the ideals that Luxembourg has upheld over the years as a banking centre.

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Banking in Luxembourg is regulated in keeping with international standards established by the European Union, local regulatory authorizes for banking in Luxembourg, and government and private agencies that were set up to monitor financial patterns and activities in economies worldwide. Luxembourg banking in Luxembourg has caused many areas in banking to be developed into Luxembourg offshore banking services as Luxembourg banks as well as those overseas were forced to specialize and tailor to the changing needs of economies, corporations and people.

Because of this, today Luxembourg banking, as well as banking in other parts of the world and major banking centers, financial activities like private banking, asset management, tax planning, succession planning, estate planning, auditing, the creation of tax planning entities, stock exchanges, investment firms and other legal and accounting services are made available to the business world. All of these financial services are available in Luxembourg as local and offshore Luxembourg banking services, causing Luxembourg offshore banking sector to be rated the second largest in the world, rivaled by the City of London and Switzerland.

Offshore banking in Luxembourg comprises investment firms, banks, regulatory agencies, branches and subsidiaries that are established to serve the wide needs of clients. Luxembourg banking offshore has successfully catered to the various types of customers that resort to banking in Luxembourg partly due to the industry’s professionals and business minds to adjust and adapt to evolving financial demands by governments, corporations and individuals.

Luxembourg banking has a long history of privacy and confidentiality which has been the foundation on which Luxembourg banking sector expanded as one of the largest worldwide. Luxembourg banking privacy laws helped develop the offshore banking sector, especially as Luxembourg was identified as one of the main pioneers of offshore banking. Because of this many of the offshore banking services mentioned above are available in Luxembourg. Offshore banking in Luxembourg was founded on the principle of privacy and confidentiality which attracted people and businesses from around the world.

Offshore banks in Luxembourg are not solely locally owned institutions. Luxembourg banks include overseas banks that obtained licenses to operate branches and subsidiaries in Luxembourg. Because most Luxembourg banks specialize mainly in Luxembourg offshore banking instead of retail banking in Luxembourg, banking offshore is an activity that is very well established in Luxembourg.

Because offshore banks in Luxembourg come from many different nations, Luxembourg offshore banking services are offered in various foreign languages and thus cater to corporations and people from all parts of the world. Luxembourg banking offers confidential and advanced services that cater to the needs of changing financial environments.

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