Business: Happy Holding in Luxembourg

As befits a tiny country in the Ardennes hills between France and Belgium, the Grand Duchy of Luxembourg has long been a hospitable tourist center of quiet pastoral charms. Recently the hospitality has been extended to a special group of visitors—executives of U.S. and European blue-chip companies who stay just long enough to enjoy a meal at Au Gourmet and to attend the annual meeting of their new holding companies. Domiciled for the record in a local bank or lawyer's office, such holding companies have hit the European money market for more than...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!