The Luxembourg financial centre has expanded in the last 50 years to become an international hub for Banking and Asset Management activities. Servicing a wide range of private and corporate clients from all over the world, the country’s financial sector is recognised globally for its expertise and sophistication.
Banking in Luxembourg is designed to provide foreign bankers with basic insights into the structure of the banking industry in Luxembourg together with the legal, regulatory, accounting and tax framework. Also summarised are the requirements for setting up a new banking operation and the various audit requirements. It also shows how the Brexit can impact the sector, taking four scenarios into consideration.
This guide has been prepared by auditors, tax and business advisers, who are members of the banking group of PwC Luxembourg.