The social and political climate towards FinTechs in the business area of “Analytics and research/data management/risk management” is positive.
Depending on the services provided, the provisions, art. 29-1 to art. 29-6 of LSF, shall apply. Therefore, authorisation may be granted only to legal persons and shall be conditional on the production of evidence showing the existence of a share capital of not less than EUR 50,000, EUR 125,000 or EUR 370,000 depending on the services provided.
Costs for getting a license : EUR 15,000 to be paid to the CSSF.
Annual license : EUR 20,000 or EUR 30,000 depending on the activities, to be paid to the CSSF.
Risk management in banking and in investment funds is key in Luxembourg.
In today’s more complex business environment insurers bankers and asset managers are required to implement an increasing number of post-crisis regulations, from solvency II to the new Basel framework for bank regulation and the renewed emphasis on liquidity management.
Luxembourg has an outstanding strong expertise in risk management.