60 firms relocated to Luxembourg because of Brexit


More than 60 financial firms moving some operations to Luxembourg to insulate themselves from the effects of Brexit.

Landlocked low-tax Luxembourg, a Grand Duchy in the heart of Europe, has a reputation for financial services — and discreet bankers.

Luxembourg has already welcomed 65 firms owing to Brexit, ahead of Ireland on 64 and the Netherlands and France on 30 each.

These companies include banks and their departments, insurers and stock brokers shifting operations from the City toward continental locations.

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