One of the industries knowing a great development during the last few years is the information technology in Luxembourg. Its growth came as a response to the needs of the financial sector which required modern and secure payment solutions and a new Internet infrastructure which would allow financial institutions to offer their services in a fast manner.
Foreign investors seeking to set up a business in the information technology in Luxembourg will also benefit from a modern legislation. Our lawyers in Luxembourg can offer more information on the laws related to the IT industry.
In order to start an IT company in Luxembourg, one must first select a structure and register it with the Companies Registrar in the Grand Duchy. Both local and foreign investors have the same rights upon the registration of a company in Luxembourg.
IT companies may offer various services and cover many domains, among which:
It is also possible for Luxembourg IT companies to register their own domain names with the registrars acknowledged by the Ministry of Communications in the country. Additionally, IT businesses can also create and register trademarks or patents related to the services they offer.
After registering the IT company with the Trade Register in Luxembourg, one must go through the licensing phase which implies obtaining authorizations from the relevant authorities. The Ministry of Communications will issue the license for companies creating software and offering communication services. Considering most of the Luxembourg IT companies operate in the financial field, these must also obtain a license from the Financial Regulator.
A particularity of the IT sector is that Luxembourg is the first country in Europe to recognize electronic signatures. Another premiere for Luxembourg is that it has introduced special provisions in Commercial Code related to the bankruptcy of companies offering cloud services.
For full information on the unique laws governing the IT sector in Luxembourg, please feel free to contact us. Our law firm in Luxembourg can also help you set up a business in this industry.
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