A FEW FACTS
Luxembourg, officially the Grand Duchy of Luxembourg, is a landlocked country in Western Europe, bordered by Belgium, France, and Germany. It has a population of about 520,000 people in an area of 2,586 square kilometers. It is headed by a Grand Duke and is the world's only remaining Grand Duchy. It has the world's highest GDP (PPP) per capita, according to the World Bank. The city of Luxembourg, the largest and capital city, is the seat of several institutions and agencies of the EU.
Luxembourg is a member of the EU, NATO, OECD and the UN. Together with Belgium and The Netherlands, Luxembourg is part of the trilateral economic, cultural and geographic union called Benelux.
Reflecting its geographic position, Luxembourg's culture is a fusion of Roman and Germanic Europe, borrowing customs from each of the distinct traditions. Luxembourg is a trilingual country: Luxembourgish, French and German are official languages.
Luxembourg is experiencing one of the fastest rates of population growth in Europe. In 2012 foreign nationals accounted for 44% of the total population. Portugal remains the leading country of origin with more than a quarter of the new entries, followed by neighboring countries: France, Belgium and Germany.
FOREIGN BUYER LEGAL/TAX IMPLICATIONS
You don’t have to be a citizen to purchase or own property in Luxembourg.
Your CENTURY 21® Agent will be able to assist you in understanding the home buying process, but please also consult with a tax advisor for details regarding legal implications as well as taxes in Luxembourg and the home country.