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Testimonial
Mangrove Capital Partners provides venture capital mainly to companies operating Internet or Software businesses. Gérard Lopez, Co-founder and Managing Partner, is presenting his views on the Luxembourg business environment.
The Luxembourg Government wants to encourage economic development through private-sector initiative. This is practically demonstrated by a steady reduction in both business and personal taxes, social insurance costs, liberal rules on transfer of capital and profits and incentives for new companies.
Luxembourg’s effective corporate income tax is among the most favorable in Europe, besides the lowest level of VAT (value added tax) in the European Union.
There are venture capital schemes and significant funding flows from private investment funds and banks, often set up with specific objectives such as IT or media related projects.
The National Credit and Investment Corporation (Société Nationale de Crédit et d’Investissement or "SNCI") grants loans at favorable rates.
Wealth tax on physical persons has been abolished.
