Luxembourg proposes liberal visa policy to attract businessmen

KOLKATA: Luxembourg is planning a ' red carpet' policy for visas by this year-end to attract more businessmen, in the wake of eurozone crisis, an embassy official said.

"By end of this year we will have a 'red carpet' policy. The visa should not be a hindrance. People with serious intention to do business can come," Gaston Stronck, Luxembourg's ambassador to India said here today at an interactive session with Indian Chamber of Commerce.

Under the policy, businessmen who plan to set up a company in Luxembourg will have board meeting once at least in a year and a three-year visa should be provided.

There are some 150 companies who have raised capital by issuing GDRs in Luxembourg, he said.

However, Stronck added the euro zone crisis has led to slowdown in new issues and expects revival in the future trend.