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The Grand-Duchy, aside its prosperous private banking activities, has experienced a growing interest for Family Office business in order to meet high wealthy families’ needs that become more and more complex and varied when it comes to wealth management and advisory.
A bill in Luxembourg, regulating the activity of Family Office, is currently under scrutiny and should be released before the end of 2012.
On European and worldwide scenes, Luxembourg’s competitors are openly Switzerland, the U.K., but also Singapore. Nevertheless, Luxembourg is more than ever well-positioned to play an active role in Family Office businesses, thanks to its financial structuring wide spectrum of services coupled to an attractive tax and regulatory environment.
Becoming a centre of excellence for Family Offices’ services is then an achievable objective for the Grand-Duchy, but this will imply for actors to being capable of proposing to wealthy clients a one-stop-shop-services model to meet all their demands, from financial structuring, tax and legal advisory, to real estate, philanthropy and conciergerie services.
Deloitte Luxembourg, with its integrated Family Office services offer, presented in its Family Office brochure, is resolutely oriented toward the one-stop-shop service model, providing a dedicated central point of contact for family office related services and offering a full range of services coordinated by one team, for a seamless approach that best suits family’s needs.