Luxembourg
Membership in EU:1951
Political system:Monarchy
Capital city:Luxembourg
Total area: 2 586 km²
Currency:Euro (EUR)
Economy | Business Protocol | Legislative and Political System | More about the Country | Order a Business Information Report (BIR)
Economy
Statistical Office

Chamber of Commerce and Industry

Entrepreneurship in the Country

The economic structure of Luxembourg is based primarily in banking, insurance and the steel industry. Agriculture and wine production are also important.
Business Directories

Local Communities

Business Protocol
Business Communication

Although third-party introductions are not necessary, they are recommended.
It is important, that you treat business colleagues with respect and not do anything to embarrass them.
Luxembourg businesspeople develop personal relationships with the people, with whom they conduct business.
Do not brag about your accomplishments, as this is seen as a sign of poor breeding.
Building a relationship requires demonstrating a sincere interest in the country and the people.
This is a hierarchical culture, so it is crucial, that you show proper respect and deference to those who have attained positions of importance.
Luxembourgers are careful and prudent.
They take time before they trust people and approach getting to know you in a deliberate, measured manner, which cannot be rushed.
If you appear impatient, they will not do business with you.
This does not mean that they are familiar with the latest idioms or expressions. Be careful to speak slowly.
Luxembourgers prefer subtlety to directness.
Although their business communication is more direct than many cultures, they use tact and diplomacy when speaking and expect the same in return.
Being blunt is considered rude.
If you do not understand, what has been said or want further clarification of a point, you may ask questions, as long as you do so politely.

Luxembourgers prefer business communication to be logical and based on reason.
Business is not the place for emotions or feelings.

Business Meetings

Appointments are necessary and should be made 1 to 2 weeks in advance, if handled by telephone and 1 month in advance, if arranged by letter.
It is sometimes difficult to schedule meetings in July and August, which are common vacation times, the week between Christmas and New Year, and Easter week.
Punctuality for meetings is taken extremely seriously.
If you will be more than 5 minutes late, telephone and offer your apologies and an explanation.
Arriving late may brand you as unreliable, "since how can you be trusted to meet a deadline, if you are late for a meeting?"
Send an agenda before the meeting. Luxembourgers like their meetings to be well focused and to know, what will be covered.
Do not sit down until you are invited to do so.
Meetings adhere to strict timetables.
Meetings commence with a minimum amount of small talk.
Once a meeting starts, it will continue without interruption until it is finished. 
Maintain direct eye contact while speaking.
Presentations should be accurate and precise. Avoid hyperbole or making exaggerated claims.
Present as much technical information as possible, to support your position.
Business Negotiation

Business is hierarchical. Decisions are made at the top of the company. 
Decisions are made in private.
Decisions are reached slowly since Luxembourgers study both the long-term and the immediate effects.
Business is conducted slowly. Be patient and do not appear ruffled by the adherence to protocol.

Legislative and Political System
President

Government

Prime Minister

Ministries

Constitutional Court

Legislation

More about the Country
Geographical Characteristics

The country is dominated by hills and small valleys. The northern part is dominated by low mountains and it is known as Oesling with the highest peak Kneiff (560 m/1.837 ft). The southern part of the country is called Gutland and it is also full of hills.
Languages

French and German.
Short History

Luxembourg became a Grand Duchy in personal union with the Netherlands, after the Congress of Vienna in 1815. In 1839 it joined the Zollverein (German Customs Union). Its independence was confirmed in 1867.
Time Zone

GMT/UTC + 1
International Dialing Code

+352
Average Temperatures

July 17 0C, January 1 0C.
Opening Hours of Banks

Monday to Friday: 8.30am – 4.30pm.

 

Saturday: 9.00am – 1.00pm.

Opening Hours of Post-Offices

Monday - Friday: 8.30am – 12.00pm and 2.00pm – 6.00pm.
Opening Hours of Shops

Legally permitted opening hours:

 

Monday - Saturday: 8.00/9.00am – 6.00pm.

Credit Cards

The following credit cards are accepted in Luxembourg: Visa, MasterCard–EuroCard, American-Express. They are accepted in numerous hotels, restaurants and shops. Almost all petrol stations will accept credit cards.
Foreign Currency Exchange

Apart from the banks, foreign currency can be also exchanged in exchange offices, hotel receptions, tourist agencies, petrol stations and larger department stores.
Mobile Telecommunications

The country is almost entirely covered by mobile telephony signal, since the operators have concluded contracts with larger European and world operators. Mobile phones in the country are designed to function within the network of frequency bands 900 MHZ and 1800 MHZ. You can host in the following mobile networks: Lux, Tango, Transatel, Voxmobile.
Anti Smoking Law

Smoking is not banned in Luxembourg.
Emergency Telephone Numbers

Police

113

Toll-free European emergency number (EEN)

112

Medical emergency

113

Fire emergency

113

Population of the State

Population of the Capital

Demographics

Religion

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