The ISO code of Luxembourg is LU according to the ISO 3166 standard. The local name of the country is Luxemburg,Letzebuerg. Luxembourg capital city is Luxembourg. People in Luxembourg speak the German, French, and Luxembourgish languages. On 19 April 1839, Luxembourg emerged as a sovereign political entity. In the year 04/19/1839, Luxembourg emerged as a sovereign political entity. The largest city in Luxembourg is Luxembourg.
Luxembourg is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Luxembourg is .lu. Other domains assigned to Luxembourg are .eu. The domain name .eu is available for use by organizations in and residents of European Union member-states. The International dialing code for Luxembourg is 352. People in Luxembourg drive on the right side of the road. Total land area of Luxembourg is 2,586 km² (approx. 998 mi²). Luxembourg is a landlocked country.
Luxembourg is located in Europe. Luxembourg is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Luxembourg faces various issues, including air and water pollution in urban areas, soil pollution of farmland.
Doing business in Luxembourg
We offer various corporate services in Luxembourg jurisdiction. These services can serve both, people coming from Luxembourg and foreigners. If you plan on doing business in Luxembourg you might be interested in contacting us.
To find out about starting your business in Luxembourg click on company formation in Luxembourg.
To find out how to open a bank account in Luxembourg and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Luxembourg.
Choose preferred service below or continue reading to find out more about Luxembourg.
Demographics of Luxembourg
The total population of Luxembourg is 590,321 people. In Luxembourg, the population density is 208 people per square kilometer (541 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Luxembourg is 0.5302. Luxembourg has approximately 249325 foreign immigrants. The median age is approximately 39.6 years. In Luxembourg, 92 in every 100 people use internet. Luxembourg has a Human Development Index (HDI) of 0.881.
The majority religion of Luxembourg is Christianity, Luxembourg is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Luxembourg.
Culture of Luxembourg
People in Luxembourg speak the German, French, and Luxembourgish languages. According to data on inbound tourists in Luxembourg, 945,000 tourists arrive in the country each year. The first McDonalds in Luxembourg was opened on 17 July 1985, and it was located in Luxembourg City. One of the most popular national dishes of Luxembourg is judd mat gaardebounen. To read more click on culture of Luxembourg.
Geography of Luxembourg
Luxembourg is considered to be a large nation because of its total area. Its total land area is 2,586 km² (approx. 998 mi²). Luxembourg is located in Europe. Its capital city is Luxembourg. Luxembourg has 3 neighbouring countries. Its neighbours include Belgium, France, and Germany. Total length of land borders of Luxembourg is 327 kilometers (~126 miles).
The highest point of Luxembourg is Kneiff, with its official height being 560 m (1,837 ft). Including land mass and EEZ, the total area of Luxembourg is approximately 2,586 km² (~998 mi²). The most notable natural resources found in Luxembourg are iron ore, arable land.To read more click on geography of Luxembourg.
Economy of Luxembourg
The currency of the country is euro. The symbol used for this currency is €, and it is abbreviated as EUR. 5.3% of population in the country are unemployed. The total number of unemployed people in Luxembourg is 31,287. Each year, Luxembourg exports around $15.8 billion and imports roughly $23.12 billion. The Gini Index of the country is 30.8. Luxembourg has a Human Development Index (HDI) of 0.881.Luxembourg has a government debt of 53.2% of the country's Gross Domestic Product (GDP), as assessed in 2012. Luxembourg is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are banking and financial services, construction, real estate services, iron, metals, and steel, information technology, telecommunications, cargo transportation and logistics, chemicals, engineering, tires, glass, aluminum, tourism, biotechnology.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Luxembourg is $53,672 billion. Each year, consumers spend around $17,998 million. The ratio of consumer spending to GDP in Luxembourg is 0%, and the ratio of consumer spending to the world consumer market is 0.0519. The corporate tax in Luxembourg is set at 29.22%. Personal income tax ranges from 6% to 52.45%, depending on your specific situation and income level. VAT in Luxembourg is 17%. To read more click on economy of Luxembourg.
Infrastructure of Luxembourg
Infrastructure quality in Luxembourg is rated to be at 3.91. It indicates a good quality - roads, railroad, ports and other facilities are adapted and regularly maintained to handle high levels of traffic at all times, as well as most probably there are special facilities for handling high intensity and/or special traffic or vehicles (e.g. motorways a.k.a. autobahns and deepwater ports).
In Luxembourg, 100% of the population has access to electricity. There are 250,900 internet hosts in Luxembourg. Luxembourg has 2 airports nationwide.
The logistics performance index of Luxembourg is 3.95. It indicates a good performance - the logistics system is well prepared and organised, shipments mostly arrive on time and do not suffer damage, and the infrastructure is ready to handle even unpredictably big amounts of traffic as long as it is not overwhelming.
Tracking possibilities for shipments are rated at 3.68. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Luxembourg is 434. To read more click on infrastructure of Luxembourg.
Politics of Luxembourg
Luxembourg, is a unitary parliamentary constitutional monarchy. With regard to political and civil freedoms, Luxembourg is 1. Citizens in Luxembourg experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Henri.
According to the World Bank Group, the government effectiveness index of Luxembourg is 1.66. This indicates that the government of Luxembourg is very effective. Citizens enjoy highly effective social, public, and civil services, and the overall morale in Luxembourg is high. Government actions are efficient and expeditious, and dangerous situations are highly unlikely as a result.In Luxembourg, the legislative power is vested in a Chamber of Deputies. The strength of legal rights index for Luxembourg is 3. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. Luxembourg is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Luxembourg is one of the original UN member states who founded the organization. Luxembourg is a member of the European Union (EU). On 24 October 1945, it joined the EU as a full member state. Luxembourg is a member of the World Bank. To read more click on politics of Luxembourg.
Environment of Luxembourg
Luxembourg emits 20.9 metric tons per capita of CO2. 870 km² of Luxembourg's territory is covered in forests. and forest land comprises 34% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Luxembourg is 434. To read more click on environment of Luxembourg.
Company formation in Luxembourg
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Luxembourg.
When establishing a company in Luxembourg, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Luxembourg that will affect the establishment and growth of one's business. Contact us or click on company formation in Luxembourg to read additional information when setting up a business.
Bank account opening in Luxembourg
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Luxembourg. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Luxembourg, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Luxembourg or contact us.