Luxembourg Wealth Management Job Contract: Luxembourg Wealth Management, #2

By Eric Thomsen

Luxembourg is one of the most attractive job markets in the European Union.

The pay is good and the tax on income is modest, compared to neighboring countries like France and Germany.

That is why in the morning you see long ques on the motorways from Trier in Germany and Thionville in France of people going to work in Luxembourg.

Because of the lower disposable income in France and Germany the housing markets are slightly cheaper here, although in recent years the rent markets have shot up and the advantage has narrowed.

Especially the financial sector in Luxembourg is attractive. It employs some 28.000 people and Luxembourg is the largest European center for investment funds, second only to the United States.

Many professionals aspire to a job in this sector.

This little book is a practical guide for your job search. It is full of legal information and practical experience. It may be invaluable, depending on your situation.

• Language: English
• Publisher: Eric Thomsen
• Release date: Nov 8, 2018
• ISBN: 9781386020936

Eric Thomsen

Eric Thomsen hat in den Bereichen Wissenschaft, Wirtschaft und Recht veröffentlicht, Ausstellungen organisiert und Konzerte veranstaltet.

Book preview

Disclaimer

The book is mainly based on the personal notes taken by the author at a courses with the Institut Financiere de Banque de Luxembourg supplemented by other personal notes taken by the author at courses of various institutions and other venues. It is supplemented by personal experience and research.

The author is not an investment advisor and the author is also not an analyst. The information herein is not advising on any particular security or other type of investment

The information is believed to be correct but is provided as informative only and no guaranty is provided or implied. The author declines any responsibility for any loss, damage or lost income, whether direct or indirect, from any use of these notes. The reader is referred to take advice from an investment professional or registered investment advisor before making any investment decisions.

Other titles by the author

Arab Oil Money – Toxic Cocktail

Radical Islam and Compliance in Financial Institutions

Hezbollah – Cuckoo in the Nest

Catalonia – Way to Conflict

Catalonia – Legal Procedure

Catalonia – One Year Later

Catalonia – The Recogning

Tesla

Hybrid Future

Clinton Stories

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Some of these titles are available in other languages.

About the author

Eric Thomsen has published in law, science and economics. He holds several law degrees, a degree in economics and was ACAMS certified in 2016.

Contents

Introduction             7

The Hoop

Your first job contract

Your second job

ADEM

ITM

CET

CNS

Introduction

Luxembourg is one of the most attractive job markets in the European Union.

The pay is good and the tax on income is modest, compared to neighboring countries like France and Germany.

That is why in the morning you see long ques on the motorways from Trier in Germany and Thionville in France of people going to work in Luxembourg.

Because of the lower disposable income in France and Germany the housing markets are slightly cheaper here, although in recent years the rent markets have shot up and the advantage has narrowed.

Especially the financial sector in Luxembourg is attractive. It employs some 28.000 people and Luxembourg is the largest European center for investment funds, second only to the United States.

Many professionals aspire to a job in this sector.

This little book is a practical guide for your job search. It is full of legal information and practical experience. It may be invaluable, depending on your situation.

The Hoop

One ambitious young man who made it, has described the entry to the Luxembourg job market as getting through the Hoop.

This description allures to the circus.

The applicant is like a seal – adroit in his own element but a bit clumsy out of the water.

The animal trainer coaches the seal to jump through the Hoop in the performance of an extraordinary act worthy of the spectator’s ticket price.

The applicant can picture himself as the seal – well educated and secure in his home country where he knows the rules – and willing to perform extreme acrobatic acts for the pleasure of the prospective employer but clumsy because he is out of his own element.

When you pass through the Hoop you will enter Elysium, the Promised Land of good working conditions and fat pay. You will be able to buy an apartment or a house, meet someone special and perhaps raise a family.

Or you may get incredibly rich and squander your pay on a Maserati and wreck it in one of Europe’s most dangerous traffic environments.

Or you may choose a more sensible middle course and save for your early retirement.

Whatever your goals the first requirement is for you to get through the Hoop – gain entry to the Luxembourg job market.

There are dangers lurking in the shadows.

Your first job contract

There are predatory prospective employers lurking in the shadows. Some of them are serial predators that exploit dreamers and burn them until they are consumed and then they throw them away, letting society foot the bill.

There are other employers who have both regular jobs and predatory jobs. They then use very abusive contracts to keep the truth under wraps and exploit you and your precarious situation as long as possible.

We will use the example of such a company to explore the workings in detail.

Example: Mazars

The example is of Mazars Luxembourg. Let us first explore what is Mazars – the author had never heard about this business until the applicant came in contact with them in November 2018.

20000 professionals 86 countries

"We are an international,

integrated, transparent and

independent organization.

20000 professionals 86 countries

We are an international,

integrated, transparent and

independent organisation.

We specialize in

Audit, accountancy, tax,

legal and advisory services."

https://www.mazars.com/

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The Mazars Group was founded