Thinking Of Moving Overseas? Let's talk Luxembourg....

Samuel Hendry 03.09.2018

Have you got itchy feet and are looking to relocate abroad? Maybe you have caught the travel bug and feel it is time for a major change.

We all know the main destinations which Irish professionals are moving to these days - Sydney, Toronto and Hong Kong to name a few, but what about a lesser known destination close to home? Luxembourg could be just what you are looking for. Here are some of the reasons you may want to consider this small European country as your living destination of choice.

1.Greater Career Opportunities
Luxembourg is the leading investment fund centre in Europe and second only in the world behind the United States. There are a significant number of roles available for people involved in funds, corporate and investor services. The transferable skills you will gain while working in Luxembourg will serve you well wherever your career takes you. Working overseas shows to prospective employers that you are able to step outside your comfort zone and take on a challenge. Willingness to travel itself is always a desirable quality in potential employees and could work in your favour when going for future roles..

2.Generous Annual Leave
Are you sick of trying desperately to make your annual leave last? If you find yourself missing out on holidays, trips away and social occasions due to a lack of remaining holiday days, then the Luxembourg average annual leave package will appeal to you. Professionals in Luxembourg get a minimum of 25 days a year paid holidays, with some people getting as many as 35! This is on top of 13 public holidays as well as paid sick leave, promoting a healthy work/life balance. 

3. Lower Tax Rates & Employee Benefits
Luxembourg tax rates are among the lowest in Europe. For example, if an individual’s income is  €100,000, the total income tax and social security in Luxembourg will equal 27%. Increasing the income to €200,000 will come in at 36%. This shows that while the country offers benefits and deductions, the government also maintains a strong tax base which benefits everybody. In terms of employee benefits, Luxembourg fares well across the board although naturally enough it differs company to company. An example of such a benefit is the interest subsidiary scheme available to all employees, whereas company cars and meal vouchers are also popular benefits made available by employers. Generous tax credits are available for all employees, self-employed persons and pensioners, and there is also special forms of tax relief for reduced emission vehicles including bicycles and allowances for children’s education. The tax rates and benefits are undeniably more favourable in Luxembourg than in Ireland and the UK and remains to be a huge factor in drawing expats into the country.

4.Welcoming Community & Culture
Luxembourg is a true European city with a large expat population representing 48% of the 600,000 residents of the Grand Duchy. This results in a very welcoming community which is ideal for single people or those with young families looking to relocate. There are a number of groups specifically catered towards these kind of audiences, making the transition to life in Luxembourg easier. With a vibrant pub scene and a myriad of sports clubs (including GAA) and a family friendly vibe, Luxembourg has something to offer everyone. Because everybody is in a similar position everyone is welcoming. It makes it easier than moving to somewhere vast like London where it could prove more difficult to meet new people and find free time to socialize. 

5. Opportunities For Travel & Improved Quality Of Life
Love to travel? Luxembourg has great transport links to many destinations. With Germany, France and Belgium serving as bordering countries, it makes cross-country travel easily achievable. Many people also choose to live across the border in either of these two countries and commute inwards, this acts as a means to save if you wish to avoid city living. Because of the strong transport links, it’s easy to travel to across Europe on the weekends. Many places are just a short flight or even train journey away. This acts as an excellent opportunity to broaden your horizons and see more of what Europe has to offer. 
As mentioned above, the work/life balance in Luxembourg is second to none - while you are required to have a strong work ethic in order to keep up with the fast pace of working life there, there is also a strong social scene which makes it easier as an expat to make friends.

If or when these professionals decide to return to Ireland, this international experience can only add positively to their CV and aid both their personal and professional development in terms of broadening their horizons and improving their cultural sensitivity. 

If you are considering a move to Luxembourg, then please feel free to get in touch with me at vgowen@morganmckinley.com. At the moment there are numerous fund accountant career prospects available in the Luxembourg area., so you have an interest in this area in particular then I should be your main point of contact. We also have a team of expert consultants who recruit for an international market so if Luxembourg is not your first port of call, we have plenty of other destinations available for you to choose from.

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Samuel Hendry's picture
Operations Director
shendry@morganmckinley.com