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International Spotlight: Luxembourg

27 Nov 2014

International Spotlight on Luxembourg Finance

This month we our showcasing the accountancy and finance international hot spot, Luxembourg.

One of the reasons I love Luxembourg as an option for candidates is that you can have a New York/London career, but without the crazy travel or hours. Luxembourg is one of the most international places I have ever been to.

Having grown up abroad and moved around a lot, there is always something very comforting about being in Luxembourg. The majority of people working in Luxembourg are foreign nationals and everyone has moved into the market. At dinner parties and dining out I always love how you can be at a table with people and everyone is a different nationality.

Market Overview

Luxembourg holds the majority of Europe’s wealth, with many of the banks having headquarters in the country. Don't feel that you're limited to a career in finance if you live in Luxembourg; Arcelor Mittal, a steel manufacturing business, is the largest employer in the country. Amazon and Skype have recently headquartered there as well.

Career Possibilities

Many international movers want to move to the States or work in London. Luxembourg is the 2nd largest funds market in the world following New York. As New York can be difficult to get a visa, Luxembourg can open the door. Because there is such stiff competition in the market, employers must take care of employees. In fact, studies have shown that employee satisfaction is much higher in Luxembourg than other European markets.

Lifestyle

Luxembourg offers a capital city lifestyle, with the most Michelin starred restaurants per capita in the world as well as an award winning concert hall, the Philharmonie. A ten minute drive from the city provides beautiful landscapes, great for hiking and biking. The benefits of living in Luxembourg are twofold: you get the shopping, glitz and glamour of a city, with the outdoor life of the country. It's also only a short drive to France, Germany and Belgium.

Tax

Still looking for a great reason to move to Luxembourg? The country has the lowest tax income in Europe, so essentially your final salary should be more than any other country. The tax reduction continues if you're married or have children.

For many people Luxembourg is the untapped option. I always love meeting up with people who I have placed in the market who never would have originally moved but are thriving in their career choice.

 

For more information about an international finance career, head over to our International Finance microsite - we would love to help you move to your dream location.

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