A new value for the Luxembourg Financial Centre
The Luxembourg Freeport officially opens its doors to customers today, after its festive inauguration on September 17. The Freeport is a state-of-the- art storing facility designed to store valuable goods like artworks, wine, precious metals or collector’s cars. It is the only such facility in the Eurozone. Customers will be able to use it through freight forwarders, who will act like their intermediate tenants
Main investor is Yves Bouvier from National le Coultre, a group that also runs Freeports in Geneva and Singapore. The Freeport is located next to the Luxembourg airport, where Cargolux, one of the world’s largest cargo airlines, will deliver with valuable goods and collectibles through its global network. Excellent infrastructure conditions, as well as Luxembourg’s economic stability and reputation as a major wealth management hub in Europe were decisive for choosing Luxembourg as a home to the new Freeport.
The Freeport will add to the diversity of the Luxembourg economy that has become one of Europe’s main logistics hubs. It will also enlarge Luxembourg’s offering of wealth management tools, since UHNWIs, as well as art funds, private banks and family offices will be able to offer exclusive storage space there. The Freeport will also encourage the development of a whole ecosystem around fine art, like restoration services and auction houses.