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Luxembourg > Law firm and leading lawyer rankings

Editorial

Legal market overview

For a country as small as Luxembourg it punches well above its weight in terms of its input into the global financial services industry. Aided by an innovative and business-friendly regulator, Luxembourg's economy is among the most competitive and stable in the world, recently placing 14th in the world in the Global Financial Centres Index which ranks the leading financial centres. Indeed, since the UK's decision to leave the EU, the Grand Duchy has gained even more popularity with a growing number of global insurers (including AIG, Hiscox and Tokio Marine) choosing to establish their EU base in Luxembourg to continue to serve their European client base without disruption.

It is, however, the investment funds industry which remains the backbone of the country's thriving economy, ranking as the second largest fund domicile in the world behind the US. The country is the uncontested leader in the Undertakings for Collective Investments in Transferable Securities (UCITS) field and has also successfully leveraged its position at the vanguard of the UCITS industry to establish itself as a prominent player on the alternative investment funds side.

Independent domestic firms including Arendt & Medernach and Elvinger Hoss Prussen compete at the top of the rankings with international firms Allen & Overy Luxembourg, Clifford Chance and Linklaters and several Benelux firms – including Stibbe, Loyens & Loeff and NautaDutilh – which are prominent in numerous practice areas.

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