Luxembourg: the end of a tax haven?

(Last Updated On: November 5, 2015)

Is this the end of the Luxembourg as a tax haven in Europe with regard to life insurance and other investments? No doubt that Yes… Until today, it was the taxpayers concerned declare their life insurance and other assets to the Luxembourg tax services in their country of residence and to carry out any forced tax related. This was the case for example of a french tax resident subject to the ISF and which was intended to include the Luxembourg its contracts in the calculation of its heritage. Now, in the context of the 'Common Reporting Standard' (CRS), the OECD has set up a standard for Exchange of information relating to financial accounts. The Luxembourg companies shall communicate to States which adhere to CRS address of each Subscriber non-tax resident in the Luxembourg and is equipped with a contract. The address chosen being the original initial documents have been sent by the company. So far the Luxembourg continues to be an attractive place for life insurance and in the context of the free movement of capital. First of all the assets of the insured remain better protected than everywhere elsewhere during a severe financial crisis. Then because the Luxembourg offers a broad selection of funds stocks and bonds denominated in most international currencies and with the best fund managers. Life insurance is also support to transmit to the or to persons of his choice of major capital in the event of death, with a reduction of inheritance. Contact your broker specialized in life insurance in the Luxembourg for the conditions of subscription so that entrance fees which can be negotiated on the basis of the assets allocated. Will be considered in this allocation the investor profile: age, family status, short or long term such projects. For those who really don't want a risk, we still have the good old funds 'euro' guaranteed that provide no thrill but higher than the conventional booklets positive annual interest offered by banks.