Working in the Luxembourg financial centre is a challenging experience and, due to the presence of numerous multinational companies, can be the starting point for an international career. Most of the major international banks have a branch or a subsidiary in Luxembourg.
Around 48,000 people are employed directly, and another 30,000 indirectly, by the financial services industry, of which around 23% are of Luxembourg nationality. The remaining 77% are composed of foreign residents in Luxembourg and cross-border commuters from neighbouring France, Belgium and Germany. As such, Luxembourg is characterised by a highly stimulating multinational and cosmopolitan environment. The financial centre is steadily recruiting skilled, multilingual staff. Regarding work permits for non EU-citizens, Luxembourg adopted new legislation in July 2008 that simplifies the granting of a work permit to highly qualified individuals.
Luxembourg is situated at a crossroads of the European motorway network, is linked to the French TGV train network and has an attractive, modern airport, thus offering rapid and practical connections to the principal European capital cities.
All residents in Luxembourg benefit from a comprehensive social security system. It covers family benefits, unemployment insurance, work accident insurance, health care, old age and disability pensions as well as long-term care insurance. Employees and the self-employed are automatically enrolled in their respective state social security system and, in the majority of cases, benefits extend to family members, such as the spouse, children and other dependent family members in the household.
Luxembourg is politically stable, enjoys a low unemployment rate and has a healthy economy. As such, it is a very competitive world player.
As a capital city, Luxembourg offers a multitude of events and first class infrastructure in the cultural and sporting spheres. While regularly hosting world famous artists, the calendar also includes a number of fêtes, fairs and other customs often dating back to the Middle Ages and still celebrated with energy. Finally, gastronomy in Luxembourg is widely reputed for its quality and international variety, while the indigenous wines of the Grand Duchy are appreciated well beyond its frontiers.