Luxembourg has recently become a founding member of the World Alliance of International Financial Centers (WAIFC). The WAIFC was officially presented on 12th of July 2018 in Paris and was launched on 1st of October 2018. The main purpose for which the alliance was set up is to promote economic growth, but also to act as a funding source for those who want to open an investment fund in Luxembourg or elsewhere. For those who want to invest in Luxembourg, our team of financial consultants can assist with advice on the investment regulations that are applicable here.
What are the main purposes of WAIFC?
Besides the above mentioned purposes, the WAIFC is committed to sustain economic growth across a wide range of industries, as well as to promote sustainable development across communities. Moreover, the WAIFC wants to act as a link between the world’s financial centers, by increasing the communication amongst such centers and assist in the dialogue with the local institutions available at the level of each financial center.
The WAIFC will also be involved in the following:
• green investments and green infrastructures developed through financial centers;
• developments in the fintech industry;
• the role the financial centers have for the development of the economy.
Our team of financial representatives can assist with advice on the main rules of law and incentives which sustain green investments in Luxembourg.
Who is a part of the WAIFC?
Luxembourg, one of the founding members, is a part of the WAIFC through the Luxembourg for Finance. Besides this, the WAIFC is comprised of the below mentioned associations, which represent the interests of the financial centers located in their residence countries:
• Dubai - Abu Dhabi Global Market;
• Kazakhstan – Astana International Financial Centre Authority;
• Belgium – Belgian Finance Club;
• Korea – Busan International Financial City Promotion Center;
• Morocco – Casablanca Finance City Authority;
• Germany – Frankfurt Main Finance;
• Russia – Moscow: Analytical Center Forum;
• Oman – Oman: The Capital Market Authority;
• France – Paris EUROPLACE;
• Canada – Toronto Finance International.
Businessmen who want to open a Luxembourg fund should also consider that the country is a member of other reputable institutions and associations that promote various types of financial investments; we invite you to contact our team of financial specialists for in-depth information on how to invest on this market.