The current regulatory evolution obliges all the business centers of the place to evolve their practices in terms of fight against money laundering and identification of economic beneficiaries. This is an important challenge for the coworking sector if it wants to keep a strategic place in the development of the Luxembourg economic fabric.
Indeed, the flexibility offered by the nominative and private workstations proves to be very interesting for start-ups and freelancers wishing to develop their activities with a rather light fixed cost structure. The development of new activities and the proliferation of creative ideas is indeed a significant characteristic of economies being able to reinvent themselves and create new areas of activity.
The positioning of business centers in this perspective will necessarily be done in collaboration with the regulator of the financial center in order to respond to all the challenges that occupy it. The growing development of this new form of flexible work in Europe is a strong trend and Luxembourg will have to make the necessary adjustments in order to take advantage of it as well, for the benefit of all economic actors. The Color Business Center is pleased to confirm that all its Coworking, closed offices, and private and nominative workstations meet its requirements and will adapt in the future to any evolution of the legislation as soon as necessary.