Admitting third-country nationals for business purposes

In Luxembourg, the amended law of 29 August 2008 on free movement of persons and immigration does not provide a definition for immigrant investors or immigrant business owners. A third-country national investor can either receive a residence permit as a self-employed worker or a residence permit for private reasons. Which one of both residence permits the applicant receives is dependent of whether s/he wants to actively work in the company s/he invests in or whether s/he wants to be a passive investor.
As the global economic growth is not located anymore in Europe and in the USA but in emerging economies (i.e. BRIC countries), the government is targeting investors and capital also from these countries. An interministerial working group was set up, which prepares two drafts bills to create a legal framework for attracting third-country national investors and business managers in Luxembourg. This working group is composed of the Ministry of Finance, the Ministry of Economy (General Directorate of Small and Medium-Sized enterpises) and the Ministry of Foreign and European Affairs (Directorate of Immigration).