In TMF Group's Global Business Complexity Index, which ranks
countries for the complexity of their business environments,
Luxembourg shifted from 50th place in 2020 to 65th in 2021,
representing a reduction in complexity. We take a closer look at
how incorporation procedures in the Grand Duchy have contributed to
this.
Luxembourg's government is highly supportive of business and
in recent years has enacted a series of reforms to facilitate a
more business-friendly environment. The Grand Duchy is committed to
creating an environment of transparency and has rejected any
reports portraying the country as an international tax haven.
While Luxembourg's business practices have become less
complex, challenges for companies wishing to incorporate in
Luxembourg still exist and delays often occur, particularly
involving the process of opening of a bank account.
