Business News

Congratulations to our CEO Carole Miltgen, for being selected as a Mentor to join the Business Mentoring program at nyuko Luxembourg. nyuko is an independent nonprofit operating at the intersection of all economic sectors. Through its predecessors Business Initiative and The Impactory, nyuko has long and solid experience in guiding entrepreneurs to achieve success. And it wants to redouble the support it gives.

https://nyuko.lu/

Prisma is an independent privately owned company in Luxembourg, active since 2006. There has been some confusion due to a recent press publication (Ignites 2 February 2016), which we'd like to rectify herewith by sharing this extract from the Deloitte press release:

"Deloitte’s regulatory and investor reporting managed service sees name change.

Deloitte, the business advisory firm, has changed the name of its new managed service for insurers, investment bankers and insurance firms. It will now trade as Deloitte Regulatory and Investor Reporting Managed Services.

Deloitte’s service was previously traded under the name Prisma. As Prisma S.A. in Luxembourg offers some similar services, Deloitte has updated its service’s name."

Don't hesitate to contact us any time if you would like to receive more information or have any questions.

Congratulations to our CEO Carole Miltgen, for being elected to the Council for the British Chamber of Commerce for Luxembourg. http://www.bcc.lu/about-chamber/council-members

The Austrian architect Jakob Dunkl is interested in the visionary buildings of Luxembourg. Within only a few decades the Grand-Duchy has become one of the leading financial centres in the world. The ARTE film shows some of the buildings and architecture in beautiful Luxembourg.

http://www.arte.tv/guide/fr/055883-001-A/ma-ville-luxembourg

Luxembourg has ranked third most competitive European financial centre in the 19th Global Financial Centres Index (GFCI 19), released Wednesday. 

Luxembourg has improved its ranking since the last index in September 2015, moving up five spots. In the March 2016 index, Luxembourg ranks 14th overall. In terms of European centres, it's  just behind London (1st) and Zurich (2nd in Europe, 6th overall). 

In the world ranking, London was ranked first (as it was in the GFCI 18), followed by New York City, Singapore and Hong Kong. 

However, it is important to note that of the top European financial centres in 2016, the GFCI score for each city actually dropped since the last index--with the exception of London.

The scores in the indexation are a "factor assessment model" that uses two input sources: instrumental factors (objective evidence from a wide array of sources such as the World Bank and Transparency International) and financial centre assessments (an online questionnaire). 

For more information about the rankings and methodology, or to see the full reports, visit the index  website .

According to the Economist Intelligence Unit, who conducted a survey about the worldwide cost of living, Luxembourg ranks 66th out of 133 cities. Singapore, Zurich and Hong Kong are the priciest locations subject to this survey.

http://delano.lu/news/66th-eiu-index

http://www.economist.com/blogs/graphicdetail/2016/03/daily-chart-4

110.499 people live in Luxembourg-City. 30,15% are Luxembourgers and 69,85% have a different passport. In total 160 different nationalities live in the capital (there are 196 countries in the world)!!! That's what we call multicultural.

http://www.wort.lu/en/luxembourg/population-luxembourg-city-population-exceeds-110-000-56cd7e151bea9dff8fa7368f

Good News on the local Job Market: "The number of job seekers in Luxembourg registered through ADEM stood at 18,368 as of January 31, which represents a decrease of 5.7 percent, or 1,100 individuals."

http://www.wort.lu/en/business/job-market-unemployment-rate-lowers-to-6-5-percent-56cc45131bea9dff8fa735da

Article by Alf Wilkinson published on 25 January 2016 for Ignites Europe.

Luxembourg plans to make legislative changes to accompany the European long-term investment fund regulation, meaning the vehicle will benefit from a special tax regime. So reports Private Funds Management.

Eltifs will receive protection from double taxation that applies when capital is moved from one jurisdiction to another, making the vehicle more viable for retail investors.

The Eltif regime, which came into force across Europe on December 9 last year, aims to promote long-term investment in areas such as infrastructure, small and medium-sized companies, and other assets lacking liquidity.

Although Luxembourg has established numerous double tax treaties with other nations, most investment funds in the country are not subject to these treaties.

Linklaters partner Freddy Brausch says that Eltifs will receive double taxation protection when capital is moved across borders.

This protection would be of great benefit to Eltifs, given the long-term and cross-border nature of the vehicle.

Mr Brausch adds that this measure will apply exclusively to newly created Eltifs.

He recently spoke about the plans at the European Alternative Investment Conference organised by the Association of the Luxembourg Fund Industry.

Last week France’s Autorité des Marchés Financiers published a guide to assist asset managers with the management and marketing of Eltifs.

The AMF also said it would amend its rules to make some Eltifs available to retail investors.

The European Parliament voted in favour of the new vehicle in March last year.

Prisma is highly experienced in the creation of fund prospectuses and adapts to the individual needs of each client. The automated e-prospectus is a full content management solution which will help streamlining the individual processes and ease updating relevant text sections in the required languages. All documents will be designed in compliance with your corporate branding guidelines. Just click on the link to find out what this is all about: Prisma Newsletter 2015 or contact us any time