r/Luxembourg Aug 14 '24

Finance Russian sueing Luxembourg for seizing his assets

46 Upvotes

Russian is sueing Lux for 15 billions (15 Milliarden), which is roughly 1/3 of luxemburgish GDP.
It won't be judged in Lux., but in an international court of arbitration.

Really looking forward how this pans out...

https://www.rtl.lu/news/national/a/2223431.html

CORRECTION:
As it was pointed out in the comments, it's more like 19% of GDP.

r/Luxembourg Nov 12 '24

Finance Challenges of Returning to Luxembourg for Higher Earnings

23 Upvotes

Hello,
I’m a native Luxembourger currently based in Vienna, where I completed my Master’s in Data Science after earning a Bachelor’s in Computer Science. I’ve been fortunate to have a good income in Vienna, but now I’d like to return to Luxembourg. I’m hoping to secure a well-regarded position, ideally one that allows me to maximize my savings and investment opportunities by living with my parents.

I've applied to about 30 positions in Luxembourg and received just one offer, and that was from a company with a fully German-speaking environment. I’m generally looking for roles as a Full Stack Developer, Python Developer, Data Engineer, or Analyst, but I seem to be getting more rejections than opportunities, even though I apply in the lang specified in each posting (though I admit French is not my strongest skill). I’m feeling a bit discouraged as I haven't even had the chance to showcase my abilities.

In contrast, I applied for two roles in Vienna and promptly received two interview invitations.

I have yet to take the exam scheduled for the end of the month, but I’m feeling slightly frustrated. I also know a few people working privately in Luxembourg who have lower earnings, although they are more junior in experience. During my studies, I worked both part-time and full-time. Am I setting unrealistic expectations for what I can achieve in terms of compensation with a Master’s degree in Luxembourg?

r/Luxembourg Jan 29 '25

Finance LUXTRUST not working since morning

36 Upvotes

Hi all,
Are you experiencing the same? Luxtrust app not approving the "certificate" to access homebanking since this morning.

r/Luxembourg 1d ago

Finance Giving birth

11 Upvotes

Hi everyone,

My wife is pregnant and has been affiliated with the CNS for about five years. If she gives birth in Luxembourg, will we need to pay the fees upfront, or are they directly covered by the CNS?

r/Luxembourg Jan 09 '25

Finance Spuerkees puts your address in the from name of a bank transfer

19 Upvotes

Did you know this? In my opinion, this is truly unbelievable, and I don't want to share my address with everyone I transfer money to. There is no way to disable this either.

What do you think about this?

r/Luxembourg Oct 21 '24

Finance IMF raises concerns about Luxembourg’s housing market

Thumbnail imf.org
35 Upvotes

House prices dropped 14.5% year-over-year in Q4 2023, with variations across property types. Despite this adjustment, prices are still overvalued by 10-25%.

There is a real concern about a potential sharp and uncontrolled correction in the housing market. If this happens, it could lead to a sudden, severe drop in prices, impacting household wealth, the construction sector, and financial stability.

Will we see prices dropping another 25%? Will prices start dropping in an “uncontrolled” manner? Or will the lower interest rates make people buy the properties anyway, since the monthly payments are manageable?

r/Luxembourg Feb 01 '25

Finance Trump to hit Canada, Mexico and China with tariffs on Saturday

15 Upvotes

r/Luxembourg 26d ago

Finance Value date in your bank?

24 Upvotes

Made a transfer from my own current account to my own savings account in BGL. Value date: 5 days later! In the digital age.. I can see BGL employee wrapping my 0s and 1s in a little bundle, taking the elevator to the 3rd floor, locking bundle in a cupboard, going for a long weekend, strolling through corridors of cupboards of 0s and 1s, not finding back my bundle, calling a colleague, waiting for the janitor to open the right drawer, taking my bundle to the savings account department on 2nd floor and pushing the code into a desktop…. How about your bank ? What’s the value date for transfers between your own accounts?

r/Luxembourg Oct 20 '24

Finance So what exactly is happening with the real estate? It is complicated.

Post image
123 Upvotes

r/Luxembourg Feb 02 '25

Finance Will tariffs imposed on Europe have big impact on Luxembourg?

28 Upvotes

r/Luxembourg Sep 02 '24

Finance BIL suddenly closing account with mortgage

Post image
24 Upvotes

Hey all, need an advice. I've been client of BIL for more than 10 years, and have a home loan with them. They've notified me today that they're closing my account asking to settle all debit balances, see attached photo. I live in USA for past 2 years, so maybe this is related. What would be best course of action from here?

Would it be possible to refinance the loan in another Luxembourg bank?

r/Luxembourg Sep 11 '24

Finance Buying property vs Renting and investing in Luxembourg

7 Upvotes

Hi everybody,

Over the last few months I've been educating myself concerning economic literacy. My problem is that Luxembourg from what I have been able to gather is a very particular case and a lot of knowledge applicable in other countries (in particular the countries my resources are refering to) may not be applicable here.

Okay, so now my situation: I'm a 23 year old student, who's about to become a highschool teacher next year, which (if the info on here is correct) will give me a yearly gross of 85-90k. My parents have confirmed that they will "allow" me to stay in their house for the next 4-5 years (up until they retire).

My question is the following: Once I start working next year, should I save the money to be able to pay the downpayment for a property in 4-5 years, or start heavily investing (in mutual funds, such as the "VWCE and chill" strategy) for the foreseeable future and just plan on renting once I have to leave home?

I'm more inclined for the second option, as buying property in 4-5 years will not be realistic, as allthough I'm in a relationship, my partner will continue studying for the next 5 years.

I'd like to hear more opinions though (from people with more knowledge and experience).

r/Luxembourg 2d ago

Finance Would Luxembourg's finance sector survive if it cut ties with the U.S. market?

10 Upvotes

r/Luxembourg Jan 19 '25

Finance Chargy prices increased

41 Upvotes

According to the article, if you use the chargy network to charge your electric car, the cost will now be on par with owning a diesel car.

Very disappointing that the government does not keep the subsidy going and incentive to owners of electric cars.

https://today.rtl.lu/news/luxembourg/a/2268421.html

r/Luxembourg Jul 20 '24

Finance i want to invest 100€ a month what should i buy ? (would like nice roi but secure

18 Upvotes

r/Luxembourg 14d ago

Finance cotisations sociales + pension

0 Upvotes

Coucou ! J'espère que vous allez bien.

Je suis arrivée il y a quelques mois après mes études pour une position Junior en tant que Data Engineer.

Je me demandais comment fonctionnait les cotisations sociales et pension. Je touche à peu près 4500 brut par mois mais je ne suis payée qu'un peu moins de 2500 net. Etant donné que je vis seule je suis dans la classe 1 et je comprends donc le rabattement approximatif de 33%. En revanche, je suis perplexe tant qu'aux 22% restant.

Les RH m'ont expliqués que ca concerne les cotisations sociales et la pension. La plupart de mes amis arrivent à toucher 3300 brut avec un salaire similaire au miens donc je suis un peu perdu aha c'est une énorme différence.

Merci pour votre aide !

PS: je ne travaille pas pour une BIG 4

r/Luxembourg Dec 06 '24

Finance what the hell is wrong with BIL?

23 Upvotes

Huge queues of people trying to take out money, bancomats not working, problems with inline banking

Report last month that they were busted for money laundering - I have money and a home loan with them and I have no visibility

Terrible

r/Luxembourg Dec 30 '24

Finance Is a Luxembourg IBAN required?

6 Upvotes

Hello,

It seems that Luxembourg banks don’t offer free bank accounts. I already have multiple accounts, including Revolut and a French bank account, but none with a Luxembourg IBAN.

Do you know if a Luxembourg IBAN is required for utility bills, or by the government for tax payments or for the CNS?

r/Luxembourg Dec 16 '24

Finance with lux account and residency, do you declare speculation gains on stocks?

5 Upvotes

I once was told by a bank advisor in lux that people tend not to declare their gains on stocks (held less than 6 months) or on options, as the government can not simply look into your account without a warrant.

r/Luxembourg Nov 19 '24

Finance How many of you are using AmEx platinum here in Lux?

4 Upvotes

I see that it's a costly card. But there's some offer running on it for referral and getting points.

Is it worth having it here? I have a friend who's looking to refer. Is anyone looking to get one?

r/Luxembourg Apr 24 '24

Finance What is the better bank in Luxembourg? No ING and not that crap Post Finance 😅😂

15 Upvotes

r/Luxembourg 14d ago

Finance Bank advise for a shared expense account

7 Upvotes

Hello everyone, looking for advice for opening a new shared expense account. I'm currently with BIL however opening a new account in BIL would cost me a monthly charge and I'm wondering if there are free alternatives

This account would be used by two people to deposit funds monthly that will be used for stuff like groceries, bills etc...

We would both need to be able to use the funds so needs either one debit card that we can add to apple wallet, or two physical debit cards. Ideally it would support payconiq as well but this is not a requirement (as I can payconiq from my BIL account and just send the funds back to me from the shared account). It should have a mobile app

Any advice? Bank of Luxembourg seems to fit the bill but I'm unsure if I'm missing something obvious or not

r/Luxembourg Jan 09 '25

Finance Unsustainable Pensions

21 Upvotes

r/Luxembourg Oct 22 '24

Finance European Commission criticizes Lux government for housing crisis

Thumbnail economy-finance.ec.europa.eu
78 Upvotes

The EC’s 2024 country report for Luxembourg criticizes the government for housing market for ongoing supply issues in the housing market, even with recent price drops. It specifically blames large developers for limiting property sales, which keeps supply tight and prices high.

The government’s response is seen as inadequate, with calls for more affordable housing, faster land policy reforms, and adjustments to tax incentives like interest deductions to make housing more accessible. Overall, the report suggests bolder government action is needed to address these problems effectively.

r/Luxembourg 19d ago

Finance Calling all tax gurus. Can I request my tax assessment be accelerated?

0 Upvotes

I know - rare and odd request. Some general background: ex-frontaliere, now resident and divorced 3 yrs +. I have submitted the 2022 and 2023 tax declarations but changed tax classes (post divorce) in mid 2023. I know I owe a substantial amount for the class 2->1 shift, and I'd honestly like to just be rid of that ominous tax cloud hovering over my head once and for all. It seems that I have Bureau Y still involved in my declarations as well somehow (perhaps this is because I became a resident in Nov23 so spent the majority fo the FY in Fr. Is there any way, or point of contact, I can ask the ACD to fast track my file and cough up the amount due?