Saturday , September 18 2021

(VIDEO) Billionaires Hide Money Here! Powerful investors move the company's headquarters to Luxembourg

With the UK leaving the European Union, Luxembourg is currently experiencing a kind of renaissance,

The capital, which bears the name of the state, has for decades been a sleepy, medieval town whose quiet streets were home to a mysterious financial industry.

As the UK prepares to leave the European Union (EU), many companies, along with Ireland, France and Germany, choose Luxembourg as their main Union base, putting that country on the map of entrepreneurs and investors,

Thus, Luxembourg was given the opportunity to become a financial hub just a few years after the not so flattering revelations about the kingdom's tax system.

Namely, by the 1960s, the Luxembourg economy was dependent on the steel industry, but the country's economy changed its focus after European law facilitated asset management in the 1980s to sell common bonds to real estate investors.

The softer laws, combined with the wall-to-wall tax system, have led Luxembourg to gain a reputation as a tax haven for multinationals as well as for megabots.

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But in 2004, the so-called LuxLeaks scam broke out with hundreds of companies, including Amazon and FedEx, which received huge tax breaks in secret. forces the government to tighten laws. This has led to the departure of many Luxembourg companies, which have since struggled to attract international companiese,

However, Bregzit has targeted companies in this small country, so today eBay, Skype, PayPal and Alipay have their headquarters in the capital, while others are based in Luxembourg on a monthly basis.

Luxembourg, currently numbering 84 international companies, is the second largest real estate market after the US, with assets worth around four billion euros,

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