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Supportive legislative and regulatory frameworks have transformed Luxembourg into a country with a growing digital fintech sector
Two years ago, in the midst of the health crisis, we released our previous frequently asked questions (FAQ) on the payments industry in Luxembourg for Chinese/Asian players. Since then there has been much change: the landscape has evolved positively with a lot of new developments. In light of this, we have put together an updated FAQ on some of the questions about the payments industry in the Grand Duchy, most asked by our Chinese/Asian clients. In addition to payments, we have broadened our response to include another industry hot topic: the digital assets exchange.
We have a dedicated Chinese desk here in the Grand Duchy. This has enabled EY professionals in Luxembourg and China to work closely together as a team for many years, serving Chinese clients based in Luxembourg in both Chinese and English. These are some of the questions we are asked time and again.
Summary
There is a strong and growing interest in digital payments in the Grand Duchy. Since we published our previously FAQ in 2020, there has been much change and the environment looks quite positively and healthily different. Chinese and Asian industry players are asking new questions and old questions need fresh answers. Our refreshed FAQ looks at the top payments and digital assets questions posed by Chinese and Asian professionals currently in, or looking to develop business in Luxembourg.