Luxembourg firm Arendt & Medernach has launched a Moscow office in response to an increasing demand for Luxembourg products from Russian clients.
The firm is setting up a small representative office in the Russian capital and will practise Luxembourg law. The office will be headed by finance partner Max Kremer and will also be staffed by Russian speakers.
Moscow is Arendt’s sixth foreign office. The firm is also present in Brussels, Dubai, Hong Kong, London and New York.
The office will focus on investment funds and tax structures and will primarily advise financial institutions.
Managing partner Guy Harles said a growing number of clients were interested in exploring options in Luxembourg.
Executive committee president Paul Mousel added: “Russian investors are more and more interested by Luxembourg due to its economic and political stability, and we’ve been advising them for several years. It’s therefore natural to offer them a service on the ground by opening a local office.”
Luxembourg is the third biggest source of foreign investment into Russia.