Arab Press

بالشعب و للشعب
Friday, Aug 22, 2025

OpenLux : the secrets of Luxembourg, a tax haven at the heart of Europe

OpenLux : the secrets of Luxembourg, a tax haven at the heart of Europe

55,000 offshore companies managing assets worth at least 6 trillion euros.

It is a well-kept secret, a persistent mystery, a question that has been unresolved for years : what is the financial centre in Luxembourg hiding ? What would we find if we opened the safe of this tiny State located in the heart of the European Union, listed by many researchers in the world’s top 5 tax havens ? The OpenLux investigation, conducted by Le Monde along with ten media partners for more than a year, provides answers : 55,000 offshore companies managing assets worth at least 6 trillion euros.

These phantom companies without offices or employees were created by billionaires, multinationals, sportsmen, artists, high-ranking politicians and even royal families. Luxembourg acts as a magnet for the wealth of the world : in a territory of 2,586 km2, Tiger Woods and Cristiano Ronaldo rub shoulders with Shakira and the King of Bahrain. Hundreds of multinationals (LVMH, Kering, Altice, Pfizer, Amazon…) have opened financial subsidiaries. Wealthy families increase their real estate assets there.

More surprisingly, OpenLux reveals that questionable funds, suspected of originating in criminal activity or linked to criminals targeted by judicial investigations, have been concealed in Luxembourg. This is the case of companies linked to the Italian Mafia, the’Ndrangheta, and the Russian underworld. The League, Italy’s far-right party, has hidden a secret fund which is sought by the Italian authorities. People close to the Venezuelan regime have recycled corrupt government procurement funds.

To conduct this investigation, Le Monde has compiled a huge database that lists the beneficiaries of the 124.000 commercial companies registered in Luxembourg, i.e. their true owners, along with 3.3 million administrative acts and financial reports. These are documents that have recently been made public, but are only available on the Luxembourg trade register website. Le Monde was able to extract them in their entirety for analysis, in partnership with the Suddeutsche Zeitung in Germany, Le Soir in Belgium, McClatchy in the United States, Woxx in Luxembourg, IrpiMedia in Italy, and the OCCRP Consortium of investigative journalists.



157 nationalities represented

These investigations confirm that the Grand Duchy is, contrary to what the Luxembourg authorities claim, a veritable offshore centre, halfway between the City of London and the British Virgin Islands. Nearly 90 % of its « companies » are controlled by non-Luxembourgers. Among the 157 nationalities represented in this amazing « Who’s who », the French stand out : they head the list with, in total, more than 17.000 companies.

What they house is surprising : valuable property, here a castle near Paris owned by a Saudi prince, there a vineyard in Provence owned by Angelina Jolie and Brad Pitt, and an endless list of villas on the French Riviera and well-appointed Parisian apartments. But also flagships of the French economy, such as Yves Rocher, Chanel, JCDecaux and Decathlon. It’s almost as if Luxembourg owned small pieces of France.

The case of France is not isolated : it is also through Luxembourg companies that some investment funds buy whole swathes of cities such as Berlin and London, causing real estate prices to rocket without being identifiable or paying taxes. The list of international assets held in Luxembourg is a gigantic inventory, including luxurious residences, chalets, yachts, helicopters, private jets and big planes, music catalogues, the rights to images, works of art, in short, the list is endless.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
×