Luxembourg was ranked as one of the best countries in the world for doing business
in a new World Report issues by the United States. The small Duchy obtained favorable positions in a number of categories, including tax system, bureaucracy, and corruption level. Foreign investors
who decide to do business in the country can benefit from these characteristics and base their activities in a favorable European location.
A country open for business
Luxembourg obtained its best score in the open for business section. In this category, the Duchy took first place. It was followed in second and third place by Sweden and Canada. The ranking is based on a survey that relies on results obtained from more than 16,000 people from 60 different countries.
The main characteristics targeted for a jurisdiction that is considered open for business are bureaucracy, manufacturing costs, the level of corruption, good tax environment
, transparent Governmental practices.
Companies in Luxembourg
pay a standard corporate tax rate of 20 percent for taxable income of less than 15,000 EUR – this was one if the factors that brought the country first place in this top and one advantage for foreign investors in the country.
Luxembourg’s position in the overall rankings
In the overall rankings presented by the U.S. News Best Countries Rankings, Luxembourg took 14th place. The report mentions that the country is becoming more attractive because of its taxation regime and even has the potential to evolve into a tax haven. Luxembourg had a 5.5 score in entrepreneurship and a 10 score in open for business. The quality of life was also ranked well, at 6.3 (10th place in the global ranking).
Other categories in which Luxembourg was included are citizenship (10th place), heritage (45th), power in terms of economic and politic influence and military power (32nd), adventure – mainly in terms of a pleasing climate (38th globally).
In the entrepreneurship category, Luxembourg scored well in sub-sections like easy access to capital for investors, well-developed infrastructure, educated population and skilled labor force and a good legal framework.