Set Up a Shop in Luxembourg
Set Up a Shop in LuxembourgUpdated on Friday 14th December 2018
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Foreign investors who want to start a new business in Luxembourg can choose the retail industry. Whether they decide to open traditional shops or online retail companies, thanks to the purchase power of the citizens here, the incomes generated by this type of business are quite good. If adding the easiness of opening a company in Luxembourg and the minimum capital requirements, it is understandable why the retail industry is quite successful.
Our lawyers in Luxembourg can offer information on the legislation governing the retail industry in this country.
Why open a store in Luxembourg?
Even if it known as an international investment center, Luxembourg is also one of the richest countries in Europe, therefore starting a shop in the Grand Duchy is a good business opportunity. Also, the development of the fintech industry made room for online and physical shops in Luxembourg to integrate a great variety of services, such as merchant accounts which allow for different types of payment solutions. Small shops offering exclusive and expensive items are also very sought by wealthy individuals in Luxembourg.
Registering a shop in Luxembourg
Opening a store in Luxembourg will imply registering a company with the Trade Register. Sole traders are also allowed to set up shops in the Grand Duchy provided that they register with the same Trade Register. Once the company registration is completed, the shop will only need to complete three more steps before becoming operational:
- - obtaining a business license;
- - having a fixed business place in Luxembourg;
- - appointing a company manager with a good reputation and conduct.
Our law firm in Luxembourg can assist with the registration procedure of the shop.
How to obtain a business permit for opening a store in Luxembourg
Foreign investors opening businesses in Luxembourg with the aim of setting up shops must file:
- - the incorporations documents;
- - their passport copies;
- - information on the managers;
- - the receipts of stamp duty payments;
These documents must be submitted with the General Directorate of SMEs and Entrepreneurship in order to obtain the business permit.
For full information and assistance in opening a shop in the Grand Duchy, please contact our Luxembourg lawyers.