The Luxembourg American Chamber of Commerce is pleased to partner with the French-American Chamber of Commerce in New York in order to provide our LACC member companies with access to J-1 Visas and the Exchange Visitor Program. The French-American Chamber of Commerce in New York is a U.S. Department of State accredited sponsor of the Exchange Visitor Program, facilitated by the J-1 visa. The FACC has generously extended their services to LACC member companies. If you are a member of the LACC and are interested in being a host company utilizing the J-1 visa program, please contact LACC Executive Director, Ms. Toni Dudsak, tdudsak@laccnyc.org for more information. Becoming a host company will be made easy for you! The FACC will take a personalized approach to each visa, with a dedicated account manager. Your LACC membership is all you need to access this valuable service. Here is …
Jamie Dimon’s presence for JPMorgan Chase & Co.’s golden jubilee in Luxembourg reinforces Luxembourg’s key role in EU banking after Brexit. The Grand Duchy managed to grow its share of the financial services sector, including major banking groups such as Citibank and HSBC establishing their EU private banking HQs in the country, or Bank of America opening an office to offer transaction services to corporates and asset managers across the EU. READ MORE
Read about this great event that took place last month! photo credit: Chamber of Commerce Luxembourg On Tuesday 27 June 2023, the Luxembourg Chamber of Commerce organised the first edition of its flagship event "Go International Day", aimed at Luxembourg companies interested in venturing abroad. Together with its partners, the Luxembourg Chamber of Commerce showcased the range of services it offers Luxembourg companies, while focusing on opportunities, challenges and the latest trends in international business, as well as highlighting international know-how. Practical workshops, tailored "Business2Advisors" meetings and stands featuring services were on the agenda. Among the guests were His Royal Highness the Hereditary Grand Duke of Luxembourg and Franz Fayot, Luxembourg's Minister of the Economy. In his keynote, Minister Fayot highlighted the framework put in place by his ministry to support Luxembourg companies in venturing abroad, such as the Business …
Discover a new video from Luxembourg Trade & Investment 31-05-2023 An increasing number of companies looking to expand their business across the European market are strongly considering coming to Luxembourg. The latest Luxembourg Trade & Invest video will take you on a tour through the most international country in the EU that is first in the world for trade openness, an inter-continental logistics hub and a perfect testbed for new products and learn why companies that have already come here chose the Grand Duchy as their home. The partners of Luxembourg Trade & Invest offer a range of high-quality, free services to help international companies set up European offices in Luxembourg. Their sector experts and international network will support you every step of the way, from your first inquiry to the launch of full-scale operations. Contact Luxembourg Trade …
This article was published for the Delano Finance newsletter, the weekly source for financial news in Luxembourg. Subscribe using this link. The Association of the Luxembourg Fund Industry kicks off its US roadshow this week. Delano caught up with Alfi director Britta Borneff and Elvinger partner Nicolas Fermaud to find out why this year’s roadshow will be different from previous visits across the Atlantic. This year’s roadshow to the United States starts on 24 May with stops in New York and Boston. Alfi is also organising a friendly golf tournament for attendees in New Jersey, a new addition to this year’s format. “It’s the first time that we organise a golf tournament in the US. The aim is to get a few people together, network and strengthen team spirit,” said Britta Borneff, Alfi’s new director of events, communications and …
The LACC and LTIO New York joined forces on May the 4th to host an evening of networking focused on the space industry. Guests enjoyed an evening at the Luxembourg House and remarks from Consul General, Mr. Paul Steinmetz. Below please find additional information from Mr. Steinmetz. EVENT PHOTOS Reaching for the Stars LUXEMBOURG’S SPACE ECOSYSTEM: For those who are not yet totally familiar with Luxembourg’s space ecosystem: First, a bit of historical background: it all started with RTL in 1929 in media and telecom, but especially in 1985, with the creation of SES, Société Européenne des Satellites: a landmark for satellite telecommunications and still a global leader today with a big presence in the US. Since then, further space-related services and businesses have developed alongside SES, giving birth to an entire space industry in Luxembourg. Today, …
An article from Luxembourg's population is close to parity between nationals and foreigners as data published by Statec on Monday showed that the Grand Duchy counted over 300,000 foreigners as of November 2021, making up 47% of all residents. The Grand Duchy's foreign population increased by 38% between 2011 and 2021 to reach more than 304,000 residents, whilst the Luxembourgish population increased at a slower rate of 16.5%, national statistics agency Statec said on Monday, publishing the results of a census carried out in 2021. There were close to 340,000 people with Luxembourg nationality, accounting for 53% of the total population, while Luxembourgers by birth represented close to 51% of the population, Statec said. Luxembourg's population reached 644,000 in 2021, up from 512,000 ten years previously, Statec said. The census, which is held every ten years, was carried out by post …
1. Ask yourself why you want to expand to Europe. Start by asking yourself why you want to expand abroad. Do you want to enter a new market, access a specific talent pool, get government funding, or something else? Opening up an office in a new location is an expensive and time-consuming endeavour, and you need to be really clear about your objective before you go ahead. 2. Revalidate your assumptions. Even though your products or services have already proven successful on your home market, it is not a guarantee that they will work in Europe. Be open to go there and revalidate all your assumptions. 3. Don’t assume that you can sell a “one size fits all” solution. Europe is diverse in terms of language, culture and ways of doing business. Depending on your sector, you might sometimes need …
A few weeks after Fitch’s AAA rating, Scope Ratings has also awarded Luxembourg a triple A rating “with stable outlook.” This is once again the best possible rating to assess the country’s financial situation. The rating agency highlights Luxembourg’s resilient economy and good performance of public finances. Government measures, implemented in a determined manner, have enabled Luxembourg to resist successive crises comparatively better than its neighboring countries. Scope underlines the positive impact of government measures to resist successive crises, notably on purchasing power, private consumption and the level of investment. It even notes a downward trend in inflation. Minister of Finance Yuriko Backes commented: “I will continue to work to maintain sound public finances, which are the key to a resilient and prosperous economy”. Read more: https://mfin.gouvernement.lu/