Luxembourg is known for its richness due to the large number of wealthy individuals living here. This is also why Luxembourg is known as a wealth management center all over Europe and in the world.
Those who want to set up a business in Luxembourg can create a company which manages the estate of wealthy individuals which usually implies a lot of jewelry. However, those seeking to enter the Luxembourg jewelry market which is a rich one can open a jewelry business.
No matter the way one wants to enter this market, it is advisable to ask for the advice of a law firm in Luxembourg in order to know what the legislation on selling jewels says.
The Luxembourg jewelry market is well adapted to the needs of the individuals buying precious stones, however there are also small jewelry shops which cater to the needs of the middle class. Those interested in setting up a jewelry shop in Luxembourg must can address the luxury or non-luxury segments of the market depending on the capital at hand.
The registration process of a jewelry company is the same as for any other type of company in Luxembourg. Once the structure is chosen, the documents related to the incorporation must be prepared and filed with the Companies Register.
Our lawyers in Luxembourg can assist with the registration process of a jewelry company.
Most of the precious stones, gold and sliver items manufactured in Luxembourg are imported, which is why an import license must be obtained for these products. This license must be obtained from the Licensing Office in Luxembourg. All precious metals imported in Luxembourg must have the Kimberly Process Certificate and their net weight must be reported to the Office.
Luxembourg jewelry shops must also comply with the closing hours imposed by the General Directorate for SMEs and Entrepreneurship.
For full information on the requirements related to starting a jewelry business in Luxembourg, please contact us. You can also rely on our attorneys in Luxembourg for additional information on the legislation related to the import and sale of precious metals.
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