Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

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4. Results: Answers
Talent acquisition
What is the applicable employment regime in your jurisdiction and what specific implications does this have for fintech companies?

Answer ... Luxembourg’s labour law governs all employee-employer relationships, regardless of whether employees are residents, EU nationals or third-country nationals. Employment agreements can be for a fixed term or an indefinite period. In comparison with other EU countries, labour law in Luxembourg offers a fair amount of protection to employees and salaries are relatively high. Fintech companies that are willing to move to or set up their business in Luxembourg should take this into account – even in the preliminary phase of the set-up or move, although the competent authority is often inclined to allow some flexibility with regard to the residence of employees during this preliminary phase.

For more information about this answer please contact: Anne-Marie Nicolas from Loyens & Loeff
How can fintech companies attract specialist talent from overseas where necessary?

Answer ... Several government-backed initiatives, such as the LHoFT, aim to support the creation of a talent pool to meet the Grand Duchy’s future needs for financial services, particularly in the fields of technology and innovation. Fintech companies can benefit from these initiatives upon request.

The University of Luxembourg also offers several fintech-related modules and specific programmes for students and researchers with expertise linked to the fintech industry.

For more information about this answer please contact: Anne-Marie Nicolas from Loyens & Loeff