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Valérie BANCAL
Head of International Desk Benelux, Greece, Turkey

Support by the
Crédit Agricole group

Last updated: august 2021

The Crédit Agricole Group’s Benelux International Desk provides support to the Crédit Agricole Group’s business clients in Luxembourg to help them implement their operations on location, particularly opening accounts, and providing financing, and banking advice. It draws on the Group’s business units and a frontline local partner bank with a network of 50 branches throughout the country.

For non-banking matters, the International Desk offers the support of local law and accounting offices and its partners as well as expertise in business internationalisation.

Credit Agricole Group is present since 1920 in Luxembourg.

With an established presence for over 95 years, CA Indosuez Wealth, the fifth oldest bank in Luxembourg, has played a leading role in the development of Luxembourg’s financial industry. It serves a client base of institutional, corporate, and private investors, in particular with its CA Indosuez Wealth (Global Structuring) branch in all areas of financial services, and in particular in wealth management and asset engineering.

CACEIS is established in Luxembourg and is specialised in asset servicing for an institutional and big business client base. CALI (Crédit Agricole Life Insurance), specialised in life insurance, is also present in the Grand Duchy. There is also an office of Amundi Asset Management (asset management).

 

Inaugarte in 2018, Credit Agricole is also present with the Village by CA Luxembourg, a start up accelerator.

For more information, see the list of the Crédit Agricole Group’s locations.

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Means of payment

With Luxembourg

Company cheque

Bank cheque

SWIFT and SEPA transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common

Weak / None

Weak / None

Weak / None

Weak / None

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Advice from the
international desk

General Information

The Grand Duchy of Luxembourg is a highly open country offering numerous advantages, including political and social stability, a favourable legal environment, an attractive tax regime, a financial sector well-equipped to welcome foreign capital, high-quality infrastructure, as well as a highly-qualified, multilingual population with a very high quality of life.

Numerous branches of multinational businesses set up shop there to establish a starting point for developing business in Europe. Other businesses specialised in innovation and R&D are attracted by the financial support offered to them, similar to certain SMEs that benefit from subsidiaries.

To foster future growth, the Luxembourg government is focusing on Fintechs, but also on the diversification of its economy, a process which has been underway for several years now, in order to reduce its dependence on the financial sector (focussing instead, in particular, on the aerospace, logistics, chemical, ICT and environmental technology sectors). Furthermore, in the context of the COVID-19 crisis, the government has shown its willingness to invest in the ecological transition of the economy. More specifically, the measures will encourage sustainable energy renovation of housing, the transition to soft and sustainable mobility and investment in renewable energy.

France is Luxembourg’s 3rd-largest supplier.

Furthermore, it is important to know that networking is often very important for conducting business in Luxembourg.


Means of Payment & Banking Specificities

Swift and SEPA transfers are very frequently used.

Transactions can be guaranteed, if required, by an insurance credit or bank guarantee. SBLC is not used very frequently.

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