Renaud Marquet, UFODrive, speaks about setting up a start-up in LuxembourgThe experience of setting up a start-up in Luxembourg seems to be quite positive. “As we came from a corporate background, we had no previous experience, so we went to local support structures like the House of Startups and asked for help,” says Renaud Marquet, COO of UFODrive. “We were well advised about issues such as the best company structure to apply in order to be able to attract investors later on.”

Easy way to create a start-up in Luxembourg

We found it relatively easy to establish the company here,” confirms Roberto Machado, General Manager EMEA at CYBAVO. “Much of the paperwork could be done in English, which simplified the process, and the House of Entrepreneurship, which is a type of single window for company creation, was very helpful. As a blockchain company dealing with digital assets, bank contacts were more challenging for us, and the process needed to comply with required regulations for us to be able to operate on the financial market is quite time consuming. But we are getting there.

We went to local support structures like the House of Startups to ask for help and were very well advised.

For us, it was not more complicated to set up the company in Luxembourg than it was in Lithuania,” says Marius Klimavičius, CEO of Blackswan Space. “We were able to do most of the administrative procedures online, which is really useful when you come from outside the country.”

Photo: © Luxinnovation / Luc Deflorenne