A Round Table Discussion on Access to Financial Services for Migrant Entrepreneurs

Migrants who want to set up their own company in Luxembourg and open a business account for it often have difficulties. For more than five years, the non-profit association "Touchpoints" has been supporting these people with the administrative procedures. The club's general director, Fabienne Colling, explains that this is often a lengthy and even unsuccessful process.

Tageblatt: In December, “Touchpoints asbl.” organized a roundtable entitled “Opening a business bank account in Luxembourg – Understanding the obstacles”, aimed mainly at entrepreneurs in the Grand Duchy with a migrant background. Why is it important to talk about this topic?

Fabienne Colling: In our work, we often support people with a migration background who want to become self-employed in the Grand Duchy: for example as car dealers, innkeepers or graphic designers. Again and again the problem arises that they cannot open a bank account for their professional activity. You have to know that credit institutions in Luxembourg are not obliged to set up such an account for someone. With the round table discussion we wanted to draw attention to this topic. Around 50 refugees and people from third countries took part.

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