Current business situation
Luxembourg is a member of the European Union (EU) and is subject to EU trade regulatory requirements.
Luxembourg has a relatively open and stable economy and one of the highest Gross Domestic Product (GDP) per capita levels in the world.
Business people in Luxembourg are experienced in conducting international business and whilst broadly similar to Australian business practice the approach has a higher emphasis on order, hierarchy and formality. It is usual that company representatives address each other by their surname.
For meetings, especially at the executive level, approximately six weeks’ notice is required. Punctuality is very important, if you are late for a meeting call ahead to advise and give as much notice as possible. The peak summer holiday months of July and August are difficult to arrange meetings. In addition, many companies shut down over the Christmas and New Year period.
The official languages are French, German and Luxembourgish. English is widely spoken, but it is courteous to check.
Setting up in Luxembourg
Invest in Luxembourg has information for those considering setting up a business.
Banking and finance
Due to its strategic geographical location, a highly developed network of external relations and its integration into larger economic spaces, the economy is predominantly internationally oriented. As such, the financial centre represents a main pillar of the Luxembourg economy.
Ranked among the top financial centres in the world, Luxembourg is a global leader in the investment fund industry and the Euro area's private banking centre. The Luxembourg Bankers’ Association (ABBL) is the professional organisation representing the majority of banks and other financial intermediaries established in Luxembourg.
Links and resources
Government, business and trade
The Grand Duchy of Luxembourg
Directory of Luxembourg State and Administrations
Federation of International Trade Association/Luxembourg
News and media
Luxemburger Wort (English)
Tageblatt (French and German)
Ara City Radio
Please note: This list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only. The content is for information and carries no warranty; as such, the addressee must exercise their own discretion in its use. Australia’s anti-bribery laws apply overseas and Austrade will not provide business related services to any party who breaches the law and will report credible evidence of any breach. For further information, please see foreign bribery information and awareness pack.