Open an IT Company in Luxembourg
Open an IT Company in LuxembourgUpdated on Friday 14th December 2018
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The last several years brought a lot of changes to the Luxembourg economy, as the government tried to focus and support on other industries apart from the financial one. Among these industries, green energy, research and development and information and communications technology (ITC) have become very appealing to foreign investors. Out of these, the IT sector now attracts most of the young enterprisers in Europe.
Those who want to open an IT company in the Grand Duchy must comply with several laws and regulations which can be explained by our law firm in Luxembourg.
How to register an IT business in Luxembourg
The registration process of an IT company in Luxembourg is quite simple as the enterpriser can operate as a sole trader which requires minimum incorporation procedures or as a limited liability company which offers various tax advantages.
Our Luxembourg lawyers can assist foreign entrepreneurs who want to register companies here and operate in the IT sector.
Activities carried out by IT companies in Luxembourg
The IT sector is very prolific in Luxembourg as IT companies can offer a wide range of services; however, most of these businesses cater to the needs of the financial industry and cooperate with banking institutions. The latest trend is for IT companies to create cryptocurrencies and launch ICOs related to new digital tokens. Another successful type of IT business is the digital marketing agency and programming and web design.
Why start an IT company in Luxembourg?
As mentioned in the beginning, the government has started investing in emerging industries a few years back and at the time information technology was one of these industries. This is how Luxembourg became the first country in Europe to have the first National Data Protection Commission. Luxembourg was also the first country in the EU to regulate what happens to the data stored by companies when going bankrupt. Starting with 2015, Luxembourg acknowledged electronic contracts.
If you are considering setting up an IT company in Luxembourg, do not hesitate to contact us for more information on the legislation related to this sector. You can also rely on us for assistance with the company registration process of the IT business.