Luxembourg is one of the smallest countries in the world in terms of population and size, covering a mere 998 square miles and having a population of 580,000. Tucked away in Western Europe, it is landlocked by France, Germany, and Belgium. Due to high standards of living and safety, a rich culture and a colourful history it is a popular country for expats and tourists alike.
Luxembourg city is the capital of the country and has a population of around 110,000 and is a popular destination for tax professionals to relocate to due to the country’s established finance industry.
FINANCIAL AND EUROPEAN CENTRE
Along with Brussels and Strasbourg, Luxembourg is one of the power centres of the European Union’s institutions. The European Court of Justice, European Investment Bank and the European Investment Fund are all located here.
There are several key employers in Luxembourg, including ArcelorMittal and Cargolux. In the financial sector, some of the most notable institutions are the Big 4 firms, the Banque et Caisse d’Épargne de l’État, ranked as the ninth-safest bank in the world, and Kulczyk Investments. Luxembourg is also a recognised centre for fund management, corporate banking, wealth management and insurance. Therefore, the country has become more appealing to expats in the financial sector and senior tax professionals are in demand.
WORKING IN LUXEMBOURG
Luxembourg is the second-richest country in the world when looking at the GDP per-capita and salaries are among the highest in Europe. You are well connected in Luxembourg with up to nine flights to London on many days and only a one-hour flight time. Paris is just as accessible, not even an hour away by plane and two hours by train. Brussels is a three-hour train ride away and it takes just two hours to fly to Berlin.
There are three official languages of Luxembourg: Luxembourgish, French and German. A perfect opportunity for you to try out new languages is to mix and get to know the locals. However, if languages aren’t your forte, English is widely spoken both inside and outside the workplace.
DAYS OUT OF THE OFFICE
For days outside the office, there are several museums on offer, showcasing outstanding art masterpieces and portraying the history of the country. For example, the National Museum of Art and History is perfect for both art and history lovers, combining the two across multiple floors. There is also the Mudam Luxembourg Modern Art Museum and the Notre Dame Cathedral.
For families with children, there are several playgrounds across the city and most suburbs will offer youth clubs, as well as the schools offering extracurricular activities. For a fun-filled day out there are a number of options such as Luxembourg Science Centre, the ice rink and Park Sënnesräich.
If you are looking for some exercise while discovering the wonders of Luxembourg city, there are over 30 different guided walking tours on offer across the capital. If you prefer peace and quiet, then the beautiful landscapes of the Luxembourgish countryside will appeal to your inner hiker. From the dense and hilly Ardennes forests in the north of the country to the Müllerthal region, commonly named Little Switzerland, further south and everything in between then Luxembourg’s scenery will leave you wanting more.
YOUR NEW LUX HOME
The majority of the population and expat community stay in the south of the country and around the capital. Accommodation in the centre of Luxembourg city, like many large European capitals, is very expensive. The further out you go the cheaper the accommodation gets. Due to its size, commuting is a popular option for many and there are good transport links across the city and suburbs.
Cost of Living
Monthly: 8.8% lower than NYC.
Rent: $1,610.99 for a one-bedroom in the city centre
Commuter pass: $46.67
Domestic beer: $5.83
It is best to start your accommodation search online to see what is on offer and get to know the different areas. The following websites will prove useful in your search:
Estate Agents are also an option if you are limited on time. They can do all the hard work for you and can give you valuable knowledge on the various suburbs and areas, speeding up your search. However, this service comes at a price and depending on your relocation package, an estate agent may be included.
There is a sufficient range of International schools available despite it being one of the smallest European countries. The majority of International Schools follow the English curriculum or the International Baccalaureate (IB). Some schools, such as the European School and the Waldorf School, provide teaching in more than one language. Other reputable international schools include the International School of Luxembourg and St. Georges International School. For more detailed information on schooling, read Kingpins Luxembourg Schooling Guide.
EXPAT COMMUNITY IN LUXEMBOURG
There is already an established expat community in Luxembourg City. A good way to get insider knowledge on what to expect and any advice and tips about the relocation process is to join expat forums and groups. Here are some to get you started and to establish some connections:
Want more information about Luxembourg? Read Kingpin Internationals other articles on the popular expat destination.
If you are interested in a move to Luxembourg or anywhere else in the world and would like to speak to Kingpin International about international tax opportunities, please contact a member of the leadership team. Alternatively, please browse our current international tax vacancies.