Italy Is One of Luxembourg's Important Financial Markets

Written by: Bridgewest

The last several years have brought a good cooperation between Luxembourg and Italy in various fields of the financial industry. Moreover, Italy is one of the best markets for Luxembourg in terms of investments funds, wealth management and insurance. Our lawyers in Luxembourg can offer information the conventions signed with Italy.

Italian immigrants play an important role in Luxembourg’s economy

During time many Italians have immigrated to Luxembourg which has determined good economic relations between the two countries and nowadays, the same immigrants mean a lot for the Luxembourg economy. Over time, these relations have expanded over the most important economic sector of Luxembourg: the financial one.

At the end of 2017, Italy was one of the most important markets for Luxembourg companies in the following fields:

  • -          investment funds;
  • -          wealth management;
  • -          corporate banking;
  • -          capital markets;
  • -          insurance.

The cooperation between the two states was also deepened by the Italian-Luxembourg Chamber of Commerce.

Foreign investors who want to explore the financial industry in Luxembourg can set up various types of businesses not only in the fields mentioned above, but also in the financial technology one.

Italian businesses in Luxembourg

One of the sectors in which Italy and Luxembourg cooperated the best last year was the Luxembourg Green Exchange on which Italian issuers released a great number of green bonds. Also, there are 10 Italian banks operating through branch offices in Luxembourg at this moment and the most important Italian asset managers have fund platforms in the country. At the end of 2016, Italian asset managers had administered UCITS and alternative funds worth 350 billion euros in the Grand Duchy.

Presently, Italy is the 8th country in terms of listings issued on the Luxembourg Stock Exchange, as they found the Grand Duchy offers better conditions for reaching out to foreign investors. At the end of last years, Italy became the second largest market for life insurance companies in Luxembourg.

If you are interested in starting a company in Luxembourg and need information on the conditions applicable here, please feel free to contact us. Our Luxembourg lawyers can also guide you through the business registration procedure.