LUXEMBOURG

Bilateral relations Switzerland–Luxembourg

Switzerland and Luxembourg have a number of common features. These include a central location in Europe, French and German as national languages, multilingualism and their important position as international financial centres.

Economic cooperation

While the volume of trade in goods has traditionally been small, the trade in services between Switzerland and Luxemburg has been intense: In 2015 Switzerland’s exported services to Luxemburg amounted to 6.109 billion EUR, while imported services amounted to 5.88 billion EUR. This corresponds to about 10% of Luxembourg’s total trade in services and financial services – making Switzerland the fourth largest exporter of services to Luxembourg. The Grand Duchy was the largest direct investor in Switzerland in 2014, Switzerland ranking second after the United States.

Swiss banks have played a pivotal role in establishing Luxembourg as an international centre for the investment of funds. They account for 14% of the market share in funds and a significant part of the private banking sector. In 2015, twelve Swiss banks and one Liechtenstein bank had branches in Luxembourg.

Energy, sustainable construction and space technology are areas where cooperation can be further developed.

Business language

French, German.

Dimensions and weights

Metric system.

Currency

National currency: €
ISO code: EUR

Customs tariff (for non-EU goods)

Harmonised system. Customs clearance based on the transaction value.

Import control

The same rules as for Belgium apply to non-EU goods
Standard VAT rate: 17% (reduced rate: 14/8/3%). Reimbursement of VAT paid is possible.

Terms of payment and tenders

No special deviations compared to domestic deliveries.

Designations of origin

See Belgium.

Packaging

See Belgium.