A survey carried out by two Belgian newspapers, Le Soir and De Tijd, has revealed that 60 out of the 100 most wealthy families in Belgium own Luxembourg companies, according to an article published on paperjam.lu on Wednesday.

According to the two Belgian dailies: “60% of the 100 richest families” created at least one company in the Grand Duchy and in “more than two out of three cases they amount to ‘letterbox’ companies, opened for the purpose of holding shares in other enterprises, sometimes located abroad (British Virgin Islands, Panama ...)”