“The national motto of Luxembourg, Mir wëlle bleiwe, war mir sin , means “We want to remain what we are.”
But we must warn you, that there are some major changes happening in the next years in Luxembourg.
Luxembourg became a tax haven at the time of Prime Minister Jean-Claude Juncker,
who later became prime minister of the European Commission. At the end of 2011
an international consortium of investigative journalists documents were launched (LuxLeaks),
which showed that more than 340 multinational companies were incorporated
in Luxembourg for the purpose of lower tax rate, thereby saving billions of dollars in taxes.
The whole affair has led to growing pressure on the President of the European Commission Junker.
At present, within the Organisation for Economic Co-operation and Development (OECD)
established an agreement on exchange of information on financial accounts,
but also a number of other sensitive data. The agreement will enter into force in 2017,
and joined to it as the European Union countries (even Luxembourg) and the classic offshore jurisdictions, eg.
This agreement could be described as the end of banking secrecy in tax matters states
that have signed the treaty.