Are you having the thought about living and working in Luxembourg, but you are having a double mind? The lifestyle in Luxembourg is different from other countries in Europe. However, the quality of life is high too like Switzerland, and it is one of those countries people don’t want to mention always. Although it is a small country, they are doing well in terms of their gross domestic product (GDP). In spite, of some people underrating this country, there are still foreign investors who want to get Luxembourgish citizenship by investment.
Due to the size of its population, has made lots of persons to downgrade this country in all ramifications. It is going to shock you the same country most people don’t give so many regards, happens to be the second largest investment fund center we have in the world. The government of this country knows how to introduce laws to yield economic growth to the company. These laws by the government have introduced several foreign investors, service providers, great tech companies, etc.
Things to Know About Living and Working in Luxembourg
These are the following things to know about living and working in Luxembourg:
1. High Quality of life:
The country has been known for maintaining a high standard when it has to do with living. As a foreigner living and working in Luxembourg, you will be able to cater to your monthly expenses. Their income rate is on a high side and this is still attracting lots of foreign workers to migrate to Luxembourg. It has been shortlisted among one of the best nations for foreigners to work. In spite of the high standard of living, you will still enjoy Luxembourg based on the high wages you will be paid by Luxembourgish employers.
2. Good Political System:
This is one of the things to know about living and working in Luxembourg. They have a good political system that has helped to boost their economies. In the aspect of starting a business as a foreigner, the registration process is not as stressful compared to other countries. If you meet the terms and conditions demanded from you, in no time the idea of your business could become reality. The government is more concerned about anything that will bring financial gains to its citizens.
3. Low Crime Rates:
They have a good security system to maintain peace and order in this country. This has resulted in a low crime rate and safe living. There are no ways intruders will break into someone’s store and won’t be caught, especially in the high brow city of this country. Foreign investors or entrepreneurs are confident they can go to their various homes to sleep, and nothing will happen to their properties. Lots of investors are making more jobs available to people by expanding their business empire.
4. Enough Job opportunities:
Currently, its Gross Domestic Product by capital is 102, 900. This has reduced unemployment rates to the barest minimum level. There are several opportunities one can get as a result of living and working in Luxembourg. Their public debts are lower compared to other countries in Europe with a high one. One of the things that have made their economy robust as steel is based on the fact almost everyone is working and this is contributing to its GDP.
5. Low Taxation Rates:
They have low tax rates for its citizen to pay compared to other countries such as the United Kingdom and the US. This is part of the things to know about working and living in Luxembourg. In some countries, the taxation rates are on a high side which is not good at all, and this is one of the factors scaring foreigners in other European countries. No foreign investors will like to invest in a country where its taxation rates are on a high side. The tax rates in Luxembourg are another decisive factor luring foreign high skilled workers.
6. Good Social Security System:
Citizens can enjoy different benefits from their social security system. Apart from public healthcare, there are other gains from its social security system such as an old-age pension, unemployment benefits, maternity leave, etc. In order to receive these benefits, you must have one way contributed to the economic growth of the country. For instance, if a person wants to get unemployment benefits, it is mandatory for the person to have worked for a minimum of 26 weeks in a year, and that’s six months.
Luxembourg has lots to offer to its doubting Thomas who feel because its population is not up to one million, and as such, they are nothing. Even you must have been downgrading the potential of this country by writing it off. This is one of the European countries; you can stay and be at rest.