Monaco The FLÆGMAG of Fine Luxembourg Æ Group

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1 4 Monaco The FLÆGMAG of Fine Luxembourg Æ Group Monaco, a country with perspectives Georges Marsan Mayor of MONACO

2 kosmo.lu SUMMARY For a talented legal support with fair play pricing open the box! 05. Editorial 06. INTRODUCTION Pochon Lawyers & Associates: le pavillon luxembourgeois 08. Mayor Monaco, entre terre et mer, allie tradition et modernité 10. Mayor Luxembourg: building the future 11. Businesswoman Helping to succeed in a new life 13. Chamber of Commerce Interview with Pierre Gramegna 14. Businessman Analysis: Manage Luxembourg as a company 16. Focus Sail, sail & team up with the windy FLÆGSPIRIT out of luxembourg 18. RUBRIQUE Jeune Barreau du Luxembourg 20. Decision maker, Entrepreneur & Investor Philippe Poullain: Up, up and away 22. FLAG STORY Be Free! Be Flag! 24. Art Niklas Amundson biography 28. Businessman GECAR CANNES ASSURANCE : Votre Patrimoine mérite la meilleure expertise 30. RACING Benoît Morelle: AXON Racing 32. Businessman Real Estate in Luxembourg and abroad 34. Businessman Interview with Janusz Filipiak 36. Businesswoman Focus sur le marché immobilier au Luxembourg 38. Focus La Loi sur les Family Offices : Nouveau défi pour le Luxembourg 40. Charity Monaco Disease Power 43. INITIATIVE Luxembourg, pionnier du Family Office régulé 46. GUIDE Monaco favourite adresses 4 Monaco okalinichenko - Fotolia.com The FLÆGMAG of Fine Luxembourg Æ Group I Publishing Director: Flag.lu I Editorial staff: Brigitte Pochon, Georges Marsan, Xavier Bettel, Maria Iliazova, Pierre Gramegna, Jeannot Krecké, Benoit de Froidmont, CJBL, Philippe Poullain, Lykke Stjenswärd, Janusz Filipiak, Niklas Amundsen, Nicolas Moneuse, Dolores Jimenez I Conception & coordination: 360Crossmedia I Artistic director: Franck Widling I Sales: F@flag.lu I Cover credit: Thierry Ameller I Print run: copies. 03

3 EDITORIAL 6th Annual Superyacht Finance Forum DEAR YACHTING PASSIONATE DECIDERS, ENTREPRENEURS, FAMILIES & INVESTORS MONACO YACHT SHOW is THE leader amongst high-class yachting trade shows & opportunity to Port Hercule the spectacular super-yachts along with companies exhibiting their international know-how. FINE LUXEMBOURG Æ GROUP is proud to contribute to the success of this annual event in the Principality. September 24th, 2013 Auditorium Rainier III, Monaco FLÆGMAG #4 will help you to better understand the commitment of Grand-Duchy of Luxembourg 4 YACHTING worldwide, inspired by the FLÆGSPIRIT of Share & Team-Up that unites the Members & Partners of FLÆG in/outside Luxembourg in supporting FLÆG ACTS. FLÆG regards, In just a few weeks, the global superyacht community will gather in Monaco for the Monaco Yacht Show (September 25-28). With 500 major companies exhibiting, one hundred super and megayachts in Port Hercules and expectations to surpass the record 33,000 visitors in 2012, it is an event and an opportunity that can t be missed. The challenge lies in making the most of it. FLÆG4EDITO F@flag.lu Marine Money s 6th Annual Superyacht Finance Forum is designed to leverage your MYS experience. Timed to take place on September 24th, the day before the show opens, and featuring a market and finance focused agenda, the conference offers valuable business intelligence and brings together the people you want to see in an atmosphere designed for networking and business development. Corporate sponsors Supported by Media partners Valery Bareta - Fotolia.com 05

4 Introduction POCHON LAWYERS & ASSOCIATES Le pavillon luxembourgeois L immatriculation de navires au Luxembourg connait une expansion liée à une réglementation favorable. L IMMATRICULATION DES NAVIRES Au Luxembourg, les navires destinés au trafic international (commercial et industriel) peuvent être enregistrés s ils sont détenus par une personne physique ou une société de nationalité luxembourgeoise. Le pavillon luxembourgeois s acquiert donc, après immatriculation du navire ou de la société gestionnaire, au registre public maritime luxembourgeois, géré par le commissariat aux affaires maritimes. Toute la gestion, ou au moins une partie significative de celle-ci, doit être effectuée sur le territoire luxembourgeois. Les bâtiments de plaisance peuvent aussi être immatriculés auprès du commissariat aux affaires maritimes et battre pavillon luxembourgeois. LA FISCALITE Les biens et services liés au transport maritime sont exonérés de TVA. De plus, les sociétés détentrices de bateaux sont soumises au régime fiscal applicable aux sociétés établies au Luxembourg. Or, il existe de nombreuses spécificités et d offres d optimisation fiscale concernant ces sociétés. Un taux compétitif est ainsi appliqué aux sociétés établies à Luxembourg ville. Les sociétés maritimes établies à Luxembourg ville ne sont donc pas soumises à la taxe municipale sur les bénéfices. LES GENS DE MER Les règles applicables aux gens de mer travaillant sur des navires marchants et de plaisance à usage commercial et bâtant pavillon luxembourgeois sont avantageuses pour les salariés et les employeurs, tant du point du vue fiscal que du point de vue de la protection sociale. Un régime dérogatoire a été mis en place pour les gens de mer et concerne le paiement des gages du marin, son licenciement et sa protection sociale. Le personnel naviguant d un navire battant pavillon luxembourgeois, s il n est pas membre de l espace Schengen, bien qu il n acquiert pas de droit d entrée, de séjour et d emploi sur le territoire luxembourgeois, bénéficient, en leur qualité de non-résidents, d une imposition forfaitaire de 10 % seulement. Fort de son expérience et soucieux de la satisfaction de ses clients, le cabinet d avocats PL&A vous accompagne dans vos projets et offre des services personnalisés et adaptés à vos besoins. + D INFOS Crossmedia 06 07

5 MAYOR Monaco, entre terre et mer, allie tradition et modernité Interview avec M. Georges Marsan, Maire de Monaco Pourriez-vous rappeler les grandes dates de l histoire de Monaco? Les premières traces de vie à Monaco remontent à environ ans avant JC. De nombreuses peuplades se sont succédé sur le rocher : Ligures, Phéniciennes, Grecques, Romaines, Sarrasines. Les premiers habitants sédentaires étaient des Ligures qui ont émigré depuis la ville de Gênes en Italie. Les dates marquantes de notre histoire sont : 1215 : Commencement de la construction d une forteresse sur le rocher de Monaco : François Grimaldi dit Malizia (François la Malice) s empare de la forteresse sous un déguisement de moine franciscain. On trouve sur le blason de la principauté les traces de cette origine avec les deux moines tenant une épée 1865 : Les territoires français et monégasque forment une union douanière 1911 : Le Prince Albert I er promulgue la première constitution monégasque. Le pays passe d une monarchie absolue à une monarchie constitutionnelle : le Prince Rainier III accède au trône à la mort de son grand-père le Prince Louis II : Promulgation d une nouvelle constitution monégasque. Elle régit le régime politique et institutionnel de la Principauté et consacre les droits et les libertés publics reconnus aux Monégasques et aux étrangers : Pose de la première pierre du quartier de Fontvieille, qui permettra d augmenter de 20 % la superficie du territoire monégasque en le gagnant sur la mer : Monaco devient le 183 e membre permanent de l ONU : 700 e anniversaires de la Dynastie des Grimaldi : un nouveau traité entre la France et Monaco stipule que la Principauté restera un État indépendant dans le cas où il n y aurait pas de descendant dans la dynastie : La Principauté devient le 46 e État membre à adhérer au Conseil de l Europe : Avènement du Prince Albert II suite au décès du Prince Rainier III en avril : Mariage Princier S.A.S. le Prince Albert II avec Charlène-Lynette Wittstock Quelques mots sur l histoire de la commune qui est la plus ancienne expression de l attachement des Monégasques à leur Souverain. Celle-ci remonte au 13 e siècle. La Constitution de 1911 et la Loi de 1920 ont donné l impulsion nécessaire à la modernisation de notre Institution. Avec la Constitution de 1962 et la Loi sur l organisation communale de 1974, la durée du Mandat est passée de 3 à 4 ans et le Scrutin de Liste a été ajouté au Suffrage Universel Direct. Aujourd hui, la Mairie représente 650 agents répartis dans 19 services qui travaillent quotidiennement pour la population de Monaco sous l impulsion d un Conseil Communal composé de 15 membres qui ont été élus par les Monégasques, le 13 mars dernier pour 4 ans. Les pôles de compétences de la Mairie sont : l animation, la Culture, le Social et les services qui ont trait à a vie quotidienne des administrés. Que conseillez-vous à une personne arrivant à Monaco pour passer quelques jours? C est entre Mer et Montagne que Monaco, ville-état de 2 km 2 se trouve nichée. Au fil des siècles notre commune a su évoluer passant de simple port de pêche à ville cosmopolite où se côtoient quotidien- nement plus de 120 nationalités. En un siècle le tissu économique de la Principauté s est considérablement développé laissant une place importante aux secteurs touristique et industriel. Alliant sereinement tradition et modernité, Monaco a préservé, grâce à son patrimoine exceptionnel, les traces de son histoire. Que ce soit en sillonnant les ruelles étroites de Monaco-Ville, berceau de la Principauté, en visitant le Jardin Exotique et sa Grotte de l Observatoire, en flânant dans les allées du Marché de la Condamine ou encore en se promenant dans le quartier de Monte-Carlo l empreinte du passé reste présente dans notre environnement quotidien. Monaco a beaucoup à offrir j espère que durant leur séjour en Principauté les visiteurs auront l occasion de découvrir Notre Monaco, riche de son histoire et de ses traditions mais résolument tourné vers le futur et ouvert sur le monde. Quelles sont les priorités de la ville dans le domaine social? L action sociale est l une des principales priorités de notre Institution. Les missions du Pôle Social, qui emploie 220 personnes, soit environ un tiers des effectifs de la Mairie, regroupent trois sections : Le maintien à domicile des personnes âgées, qui s inscrit dans la politique de Monaco en matière de gestion des aînés. Ce service complète parfaitement l offre proposée par le Gouvernement en matière d accueil des personnes âgées. C est pourquoi il est capital que nos efforts pour développer les services à la personne soient poursuivis. La petite enfance, qui organise et coordonne le fonctionnement des établissements et services d accueil de petite enfance. 4 modes d accueil différents sont proposés aux familles afin de répondre au mieux aux besoins des enfants : les crèches collectives, la crèche familiale, les micro-crèches et la halte-garderie. La Mairie offre ainsi près de 280 places de crèche et une vingtaine de places de halte-garderie. L action sociale, qui comporte les aides ponctuelles allouées aux nationaux et au personnel municipal, les manifestations à caractère social et la gestion de deux allocations régulières. Thierry AMELLER 09

6 Mayor Businesswoman Luxembourg: building the future Interview with Mr Xavier Bettel, Mayor of the City of Luxembourg. Can you tell us something about the city of Luxembourg? As of 23 October 2012, the city of Luxembourg had a population of 100,000, which is something of a symbolic threshold. The city of Luxembourg, which is the capital of the Grand Duchy of Luxembourg, is a fast-expanding city, with no fewer than 1,001 building permits issued in the last year alone! The city of Luxembourg is keen to preserve its social diversity, in that it is made up of different nationalities, social classes and generations. In order to maintain this diversity, it is important for the city to offer affordable housing. We are also keen that Luxembourg should not go down the road of gentrification, which is something we are fighting against. It is the reason why we refuse to build concentrated social housing. It s simply not our policy. Describe the capital from the point of view of housing It s an extremely diverse city. In fact, the capital features every possible type of property. We are trying to encourage young families to move into the city. At the same time, we are trying to help certain people who are poor yet too rich to buy social housing. High-rise buildings such as executive developments must comply with the strict and specific regulations of the General Development Plans, without any vote-attracting exceptions being made. What s more, our city is not particularly suited to skyscrapers, which would not fit in with the city centre s existing architectural urban planning. Luxembourg facilitates administrative procedures. Xavier Bettel When it comes to bureaucracy, our aim is clearly to move things along as quickly as possible. We have set up a tracking system ( to track building permit applications. This has been in place for several months and has been a resounding success, because it provides greater transparency when it comes to applications. The idea came to me when I was arranging a DHL delivery and I wasted no time implementing it. What major projects are underway or coming soon which will change the face of the city further still? The first one that comes to mind is our car-free zone project, but the city boasts many other largescale projects in the field of housing, including the Ban de Gasperich, Boulevard Royal and Place de l Etoile projects. Transport is also a priority, with the tram and the car park on the outskirts of the city centre. There is still a great future ahead for construction in the city of Luxembourg. More information DR - VDL HELPING TO SUCCEED IN A NEW LIFE Real Azur Consulting saves clients time and money by providing them with its precious network of highly qualified specialists in different areas of service. Coordination of professionals Moving to another country inevitably leads individuals and companies to loosing their habitual contacts with service providers who are so useful to make everyday life easier. Russian speaking investors coming to France often get disappointed with the many obstacles their project runs into because of lack of good contacts, language skills and understanding of local laws, mentality and traditions. It is quite common to hear stories about a shop assistant being asked for a villa to rent or a nanny to hire. That could be a good way to do, but the disadvantage is that you would have to make a complicated research every time you need a service. Much more practical a solution is to have one professional manager coordinating contacts with the various service providers you need, helping you to communicate with them in a foreign language and negotiating the best conditions. Real Azur Consulting was created to help clients from Russia and CIS to be at ease on the French Riviera and to enjoy every day of their life in this beautiful region. Tailor-made management A professional property and investment consultant can provide the full spectrum of services required when purchasing a property in France, including advice on finance and legislation, in particular residence permits, and other legal aspects. Clients therefore benefit from an integrated approach combined with a customized assistance. The specialist can provide expert answers to questions, so that the client is not obliged to look for information by himself. Always staying independent and objective, being on the client s side and defending his interests. The service network extends beyond French borders. For example, partners in Luxembourg handle the preparation of favorable financial and fiscal solutions, a factor that often plays a vital role in a foreign investor s final decision. A family office in real estate A structure similar to a multi family office shows to be the most fit to outsource the client s project management. Personal approach, objective advice and help in communication are keys to success in most cases. Whether we treat a hotel acquisition or help to organize a child birth or private schooling, our priorities are: best conditions, correct timing, and professional service. We are always looking forward to augment our network, gathering the best of know-how in the areas of our activity. DR 10 11

7 kosmo.lu Chamber of Commerce Interview with Pierre Gramegna Pierre Gramegna, Managing Director of the Luxembourg Chamber of Commerce, answers our questions. CC / Laurent ANTONELLI 12 Whatever the color of your flag is, enjoy the best service. Advantages: - Yacht Registration - Yacht Management - Crew Management - ISM & ISPS - Corporate Yacht Ownership - Administration & Accounting - Yacht Finance & Insurance - And More... Magellan Management & Consulting S.A. 89A, Zone d Activités de Capellen L-8308 Capellen / Luxembourg B.P. 50 L-8301 Capellen Tel: Fax: Magellan Management & Consulting LTD Zachary Street, 35 Valletta / Malta ab@mmc.lu Tél: Magellan Management & Consulting America, LLC Harbour Towne Marina 801 NE 3rd Street Dania Beach, FL USA Tel: L U X E M B O U R G L O N D O N P A R I S F O R T L A U D E R D A L E M A L T A Could you describe Luxembourg to us in a few words? The Grand Duchy of Luxembourg is a country blessed with many assets due to many factors, in particular its geography. This very dynamic country is at the centre of the European single market. Luxembourg is a real launchpad for reaching the 500 million consumers in the European market. It s also a very open country, a genuine melting pot of European integration, with a foreign population of nearly 44% and a very sizeable number of cross-border workers. Europeans and many other nationalities all come to Luxembourg and find work here. It s not a great surprise, therefore, that nearly three out of four business start-ups in Luxembourg are foreign. Luxembourg is therefore a European hub for foreign investment, most notably in the real estate sector. What attracts Real Estate and Private Equity specialists to Luxembourg? I could give you a thousand reasons. Luxembourg is a country where the value of the land and the real estate has experienced one of the steadiest increases in value worldwide. Prices have increased constantly since the end of the Second World War, which is simply spectacular. That said, I must emphasise that this is not the result of uncontrolled speculation, but long-term investment. The country enjoys considerable stability, thanks to its legal framework and its economic and fiscal policies. All these elements enable very sound investments with good future prospects. In addition, the politicians do everything possible to retain the laws in place, only changing them when it s really necessary. After all, it s a well-known fact that investors don t like change. Along with the stability and the political and economic consensus, the country enjoys a good deal of social harmony. Last but not least, Luxembourg is an important financial centre, which is conducive to real estate investments. Our financial market is well known for its funds management. Many of the real estate investments in Luxembourg are in the form of investment funds or financial vehicles. What does the Chamber of Commerce do to advertise the country s assets and make investors lives easier? We participate in trade fairs, such as MIPIM. The Chamber of Commerce is also the founding member of two public-private partnership agencies, Luxembourg for Finance and Luxembourg for Business. The Chamber of Commerce is the lynchpin of these organisations and is therefore very closely involved. We willingly welcome foreign delegations, to present the country, and we also go abroad to represent the Grand Duchy of Luxembourg in the presence of our Ministers and our Head of State, the Grand Duke, by organising missions to promote trade. 13

8 Businessman Analysis: manage Luxembourg as a company Interview with Mr Jeannot Krecké. In general, what advantages does Luxembourg have to offer? Luxembourg has a great deal to offer. We are a small country and this gives us the flexibility to process all kinds of administrative procedures far more quickly in comparison with our neighbours. Another major asset is the mix of many different nationalities. This brings us a multicultural outlook and expertise from all over the world. No matter what kind of expertise you are looking for, you can either find it in Luxembourg or it can be made available - whether native skills, expertise from neighbouring countries or skills brought to us through immigration. Finally, another of the country s assets, and an area that Luxembourg is working very hard on, is its constant search for new development niches. All this and much more make the Grand Duchy of Luxembourg an interesting place at the heart of Europe. More specifically, what are the country s advantages in the property sector? Overall, the property situation in Luxembourg is a positive one. We can see an increase in residential property, mainly driven by new immigration to meet strong demand from companies and international institutions. Although still profitable at the moment, the office premises market could be affected by redundancies that are hitting various sectors in Luxembourg, mainly due to rather high prices. There is a potential risk of a property bubble and the government needs to take note of this. Various solutions can be considered: dramatically increasing housing stock, by expanding the scope in the PAGs (editor s note: Plan d Aménagement Général general development plan) and allowing more multi-storey constructions. Unfortunately, most of these solutions are blocked by residents, who are concerned about possible issues, and politicians hands are often tied. However, drastic action will be needed if we want to resolve the housing problem. How do you see Luxembourg in the future? The main priority must be to govern and manage the country in the same way as you would run a company. Our company is now operating in a completely unprecedented context, with digital technology transforming many business sectors. The entrance of new countries, with lower salaries, in the European Union in 2004, as well as the banking crisis and public debt crises, have also changed the landscape. Added to this, we have the dazzling expansion of China and Qatar. Rarely spoken about back in 2004, these countries have now become major economic powers. The global situation is changing and the company of Luxembourg needs to change and adapt. Will we be able to do this? It will require action at different levels. In particular, we need to show the kind of opportunities our country has to offer. One of the ways we can do this is by exhibiting at trade fairs such as the MIPIM. At my initiative, we have been exhibiting here since 2006, whereas before we underestimated the idea of promoting our country abroad, in particular in developing countries. More information Overall, the property situation in Luxembourg is a positive one. Jeannot Krecké 360Crossmedia/C.O

9 Focus Benoit de Froidmont SAIL, SAIL... & TEAM UP WITH THE THE WINDY FLÆGSPIRIT OUT OF LUXEMBOURG We recently had the opportunity to meet up with the founding Chairman of Finimmo Luxembourg, Mr. Benoit de Froidmont, who shared with us his vision of his company, driven by a professional team sharing the FLÆGSPIRIT of Luxembourg. So Mr. de Froidmont, where did the idea come from to set up Finimmo? The development of Finimmo is a combination of entrepreneurship, passion & sharing of a professional team spirit with the best people. When I came to Luxembourg as professional consultant in 2003 to satisfy the request of an international entrepreneurial family investing in Real Estate in/outside Europe, I chose to look for the best services & solutions providers in the financial market place of the Grand-Duchy of Luxembourg. I choose for one of the best independent Law firms in Luxembourg, identified the most talented Fiduciary representatives, Lawyers & Private Banks and invested heavily in the development & research of a qualitative compliant open architecture legal model to structure 16 real estate, also benefitting of the charisma & ethics of some business leaders representing the Professionnels du Secteur Financier strictly supervised by the CSSF. Then I selected 2 Partners - an expert Consultant & Private Banker in Luxembourg & a Lawyer & Urbanistic expert in Switzerland - who developed the Finimmo Services & Solutions offering satisfying the needs of an increasing number of international Deciders, Entrepreneurs, Family Officers & Investors worldwide. A team was put in place ready to sail with the positive wind blowing into the direction of the future & following the attractive spirit of the Flag Luxembourg. What sets the Finimmo concept apart? The Finimmo concept is one driven by the Share & Team-Up with the best resources & people. It is the one that is needed when you have to race a regatta with other competitors. The selection of the resources is inspired by a sense of responsibility for the people who are engaged in the regatta, both on-shore & on board. The success of the regatta depends on the rules & spirit which are suggested to the people running the race. A third Partner joined Finimmo and reinforced the positive dynamic of our performance the FLÆGSPIRIT - based on savoir-être, savoirfaire & entrepreneurship was born & implemented to the great satisfaction of all stakeholders involved, both in/outside Luxembourg. How do your services & solutions operate in practical terms? Finimmo is a Professional Service Company operating in open architecture with the best Partners, fully transparent & only driven by added-value Services & Solutions. We do not sell, we only implement the best available recommendations for the Professional Partners who are advising their clients with the best input received by our Luxembourg based teams, in/outside the company or on-shore in Luxembourg & on board Finimmo. In your opinion, what is the outlook for the Luxembourg professional Services & Solutions sector? The Finimmo Partners look forward and support the vision 2030.lu Ambition Pour le Futur for Luxembourg. The Luxembourg Financial Market Place is governed by quality experts & politicians. It is the duty of each Luxembourg Services & Solutions professional provider to contribute B2B & B2C to the further development & promotion of the attractiveness of Grand-Duchy of Luxembourg, this to the benefit of Deciders, Entrepreneurs, Family Officers & Investors. Providing Luxembourg is further managed with the values that are at the basis of the FlagSpirit, I have full confidence for our future & its benefits which will be shared by the present & next generations all on board to win their personal & professional life regatta over time. DR 17

10 JURISCUP On s était dit rendez-vous dans 10 ans, même jour, même heure, même port Le Jeune Barreau de Luxembourg lève les voiles et participera à l édition 2013 de la Juriscup! 18 19

11 Decision maker, Entrepreneur & Investor Philippe Poullain Up, up and away DR DR PP DR We recently had the opportunity to meet up with the founding chairman of Helicities, Mr Philippe Poullain, who shared with us his vision of business aviation and of his company. So Mr Poullain, where did the idea come from to set up Helicities? Helicities is a combination of passion and adventure! When I came to Quebec in 2005 to manage a garden centre which was a subsidiary of the family firm, I arrived with just my luggage and I didn t know a soul. My office was close to the airport, so I thought it would be a good opportunity to make my dream come true and meet other people with a passion for helicopters. When we were young, my father used to take us to the beach every summer in a small aeroplane, but I was always more interested in helicopters. I wanted to be able to travel for work by helicopter in order to save time. After meeting up with two other pilots, one of whom was with the Quebec police, we were asked to find low-cost aircraft to inspect the marijuana fields. In addition, whenever I made the journey between Que bec and Montreal by car, often during the daytime, I thought what a waste of time and energy it was, with potential traffic jams and being distracted by having to read my s as I was driving along. I realised that I couldn t be the only one experiencing the same thing and hoping to find an alternative way of travelling. In terms of balance, family life is essential for the managers of tomorrow. They don t want to be wondering what time they ll arrive home for dinner. What sets the Helicities concept apart? The concept comes from the idea of bringing business or social networks together at the same time as using an alternative way of travelling which is quicker and more efficient. Some people can afford their own private jet or helicopter and want to be on their own in their aircraft, whereas others opt for the time share or block flight hours formula where they may own part of the aircraft. In our opinion, there is a third way, with businesspeople wanting to share and grow their personal and private networks at the same time as using a better and quicker means of travel. For the benefit of those people, we decided to share our journeys and offer pretty much private flights. How do your services operate in practical terms? As well as regular routes, such as Quebec-Montreal, we want to develop an application where the client can indicate the journey he or she wishes to make in advance. Our network of users will enable us to find other travelling companions in order to share the price of the flight and socialise. One week before the flight, we divide the price of the trip between the number of potential travellers to check that the trip is still of interest to everyone. We think that travellers will want to plan their travel arrangements in advance so that they can use an alternative way of travelling at an affordable price. For weekends in New York, for example, we need four couples, i.e. eight people, to fill a small jet. This jet will make the return trip over the weekend, leaving at the best possible times and with access to more private aerodromes. All this for a cost no more than 30% dearer than an economy class flight, depending on the destinations. Our aim is also to grow with our clients, according to their income levels, because we think that they may move towards time share or owning an aircraft. They might also keep on going the same way if they consider the values of sharing to be more important. In your opinion, what is the outlook for the business aviation sector? I think that there could be room for an airline on specific routes, a bit like the Orient Express train, with a dining car and suites where you would be able to sleep in a real bed with showers. It s going out on a limb, but I sincerely believe that it might be an alternative for the very well off who want an alternative way of travelling. In my opinion, it would also be revolutionary to bring aeroplanes and helicopters together. These are complementary services today, but are often provided by separate companies. The authorities need to identify buildings or sites for landing in large cities. I hope that, one day, our airport connections service will be available in most large cities. More information

12 FLAG STORY Helicopteres Services Be Free! Be Flag! 8value.com Our design network is all about growing leadership, forging ties among skilled professionals. By building relationships of trust and anticipating innovative solutions, we work with you for a bright future, empowering you to be 100% change-maker by creating visibility for your values, the foundation of your successful business. We visualize your values with your help. Your values are your keys to deliver vitality to your business, joy and great experience to your customers. Be Flag! Be Free! DR Transport de passagers / Airport transfert Трансферы в/из аэропортов Vols panoramiques / Sightseeing прогулочные полеты Heliski / Heliskiing Хели-ск Tel Mob / infos@jshs.fr 23

13 Art Niklas Amundson biography I receive a daily dose of inspiration through my work with the Coast Guard and ocean-close living. Niklas Amundson DR NA Niklas Amundson was born in 1967 on the Swedish east coast close to Stockholm. At an early age his family moved to a serene and beautiful island named Marstrand on the west coast of Sweden. There he followed in his father s footsteps and began to paint nearly as soon as he could keep a brush in his hand. Through the years Niklas association with the sea has continued and has taken him from the deck of a 138 sailing yacht S/S Gloria, which was owned and build by Mikael Krafft, to a Marstrand pilot boat and later to the Swedish Coast Guard. Sources of inspiration In 2011 Niklas took over the famous light house island Pater Noster, four nautical miles west of Marstrand in the West Coast archipelago, where you can visit a gallery and enjoy a stay at the small hotel there. All the time he paints continuously, drawing inspiration from his experi ences both from the past and the present. In his own words I receive a daily dose of inspiration through my work with the Coast Guard and ocean-close living. Worldwide s exhibitions Niklas has showed twice at the annual exhibi tion of The Royal Society of Marine Artists. His first participation was at the RSMA s 55th annual exhibi tion held at Mall Galleries in London He is official Artist for the maiden voyage the Ship Götheborg sailed from Sweden to China and back. He also made the official work of art for the Volvo Ocean Race and Official Artist for Virgin Oceanic. Represented at The Oceanographic Museum in Monaco with commissioned work of art for The Polar Expedition Represented on board the Royal Danish ship Dannebrogen. Represented at The Monaco Yacht Club. The Gallery of National symbols His latest collection of paintings is The Gallery of National symbols. He catches the movement, the shadows, and the light in the flags, which make them feel alive. Niklas collectors are found all over the world from the Island of Mustique to Monaco, USA and Scandinavia. More information niklas@niklasamundson.com

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15 Businessman GECAR CANNES ASSURANCE Votre Patrimoine mérite la meilleure expertise «Depuis 1991, le marché très spécifique et international de la côte d azur a favorisé l orientation du cabinet GECAR CANNES vers l assurance et la gestion des risques pour des biens hauts de gamme et sortant du standard. La disponibilité et la mobilité géographique (Côte d Azur, Paris, Courchevel, Genève, Luxembourg) est capitale car elle me permet de répondre au besoin de couverture en assurance sur l ensemble des investissements et du patrimoine de mes clients» affirme Franck Mechin, très attaché à un mode de relation personnalisée avec sa clientèle, souvent internationale. «Mon portable est toujours ouvert, mes clients connaissent la flexibilité de mon agenda, cela fait partie de ma gestion du temps ; ils sont en demande d une expertise et d une proximité qui facilite leur séjour et les rassure». Sous l impulsion de son dirigeant, l équipe du Cabinet GECAR CANNES est animée d une éthique caractérisée par la discrétion, la réactivité et un souci permanent de préservation du patrimoine des clients. Les méthodes de travail adoptées, le bilinguisme, Mon portable est toujours ouvert, mes clients connaissent la flexibilité de mon agenda. Frank Mechin la dématérialisation des fichiers, la gestion proactive des appels entrants et mails, sont autant de détails pratiques qui fluidifient les échanges et garantissent une attention soutenue pour le client. «Pour répondre aux exigences élevées de notre clientèle et apporter des solutions appropriées voire «sur mesure» nous avons depuis plusieurs années sélectionné des compagnies reconnues pour leur excellente qualité de gestion, leur rapidité et leur efficacité. Ces compagnies nous suivent et nous assurent un très grande amplitude de souscription malgré la spécificité et la technicité des dossiers». L équipe est structurée par des pôles d activités distincts ; L automobile, L habitation, Les objets d arts, La santé, Le maritime, La construction, Les sinistres, La comptabilité, dans lesquels chaque membre rempli son rôle et reste l interlocuteur privilégié du client concerné. Au fil du temps, nous avons su nous rendre indispensable auprès de nombreux professionnels (avocats, fiduciaire, family office, banque privée, sociétés d investissement pour leur permettre de répondre efficacement à leur devoirs de conseils vis-à-vis de leurs propre clients, ils connaissent la fiabilité et le professionnalisme de GECAR CANNES ainsi que l expérience des risques problématiques liées à cette même clientèle (risques spéciaux, couverture médicale internationale, couverture équipage, RC décennales pour entreprises étrangères, etc.). CONTACT franck.mechin@gecarcannes.com Tél. : DR Gecar 28 29

16 RACING Benoît MORELLE AXON Racing Benoit Morelle is an «athletic» manager, with an exceptional combination of skills in Project, Contract & Procurement Management, and in Sailing at international level. Benoît is now working on the set-up of AXON Racing..com Città di Trapani Città di Venezia What is AXON Racing A New Racing Team of champions coming from the America s Cup, the Olympic Games etc such as Bernard Labro, Pierre Pennec, Hervé Cunningham, Jean Galfione! The project and these guys are supported by top players and expert in coaching, training, and operations such as Laurent Buttafoghi, Hubert Lemonnier, Nicolas Ducomte and Annick Zinck. Based in Geneva, Switzerland, AXON Racing starts a new brand, a new story, a new human adventure... Your New Partner for Success! Why using this AXON terminology? An axon is a long, slender projection of a nerve cell, or neuron, that typically conducts electrical impulses. The same way axons interconnect neurons to illuminate information in our brain, AXON Racing is an amazing key partners to interconnect the B2B community of our sponsor (customers, employees, partners, suppliers...) No doubt : Interconnexion and Communication drive to Success! Which are the AXON Racing impacts? AXON Racing develops up to 7 key added-value drivers to optimize the return on investment of our partners: hospitality, media value, leadership, recognition, association right, licensing and community building. As you have under- stood, AXON Racing objective is not only to deliver and achieve podiums in world wide regattas and its related media impacts, but also to offer outstanding hospitality and VIPs programs and a full set of value drivers. Where will AXON Racing deliver? World wide! A first concrete example is the Extreme Sailing Series program. AXON Racing is currently pushing very hard to get its team Alberto Barovier racing for 2014 with the following great achievements from 2009 to 2012 : 4 podiums. Next step? Getting our Title Patner, and star an amazing adventure together with a surprising impact! In this context, we are developing a great partnership with FLAG, working to understand Luxembourg 2030 vision and accordingly FLAG short, medium and long term objectives. AXON Racing would be proud to sail FLAG and Luxembourg banner overseas. DR 30 31

17 Businessman REAL ESTATE IN LUXEMBOURG AND ABROAD Luxembourg or Lëtzebuerg Unique in the world, with hardly half a million people, one of the smallest countries in Europe has three official languages and no more than 170 foreign communities living together. Does this make an intricate real estate market? The truth is not what it looks like. One would think that this diversity could complicate the operations for a real estate agent coming from any other countries of this planet, trying to make it on Luxembourg grounds. But we have noticed that even if it is both necessary and respectful to have a knowledge of the major Luxembourg communities habits, there are, and there will always be only three criteria to sell your property: the price, the location and the state of it. Here is the holy trinity that anyone, either the imaginary and candid real estate agent we just mentioned, or any reader of this article, should observe to sell a property. Going south Once you have sold your property upon our wise advice... and then have some Euros left in your pocket screaming to be invested again, another question will arise to your lips: Do I not want to lay down in the sun every once in a while on my secondary residence terrace located on an ever sunny idyllic coast? We do... And if you are like us, here is where the real headache starts. You then need to find out about so many things like the spot you will choose, the property, the market price, the local legislation and crowd, the numerous maintenance issues, the safety and so on... The sun has a price, we all know it and so do the sellers who will often try to take advantage of it. When you face this question, again there is a simple answer: you need to see a professional. We are not the only one, but we surely are one of them. 32 There will always be 3 criteria to sell a property: the price, the location and the state of it. Nicolas Moneuse Normills DR Yacht Management: Registration Services Maintenance Management ISM/ISPS Provision of spare parts Repairs FSI/PSC Follow up Class certificates Vessel Documentation Management Logistic Services: Best Berthing Solutions Catering Postage Courier Service 107, Avenue des Freres Roustan, Golfe Juan (le), France Call / / Frank.Willems@engelvoelkers.com Call / Katia.Deschryver@engelvoelkers.com Full Yacht Management Engel & Völkers Yachting Malta provides the following services, amongst others: Charter Management: New Construction Assistance Technical Management Administration Management Refit Purchase Legal Advisory: Flag Consultancy & Optimisation Resident Agent for Malta Flag VAT Consultancy Crew Services Company Formation & Administration Financial Advice Domiciliation Services 33

18 Businessman Interview with Janusz Filipiak Interview with Janusz Filipiak, founder and CEO of Comarch SA. He holds a Professor degree in teleinformatics, which enables him to give his organization unique competitive features by using his knowledge and still close ties with the universities. The German Chancellor, Angela Merkel during the CeBIT trade fair in Hannover visited Comarch s stand and asked: How much cheaper are you? The meaning was to find out how badly the IT specialists can bite the German giant offering management systems to the rest of the world. We are twice as expensive. We do not compete on price, we compete on quality is what she heard in response. What has been the key to success in the rapid development of Comarch international sales? Since the political transition over twenty years ago, we now have in Poland a large pool of highly educated young people, strongly motivated to work hard to make money and prove themselves in the international environment. The key to any success in business is the human factor. The attitude of Polish employees contrasts greatly, for instance, to the passive west european Null Bock generation. At the management level, people are very determined and persistent in achieving their long term goals. Comarch Capital Group is present on five continents, with offices in 23 countries, doing projects in over 40 countries right now. What are the geographies in which you plan to develop more strongly? Western and Eastern Europe, and North America remain strategic directions of our business development. As regards new regions, we now have a significant amount of business opportunities in Latin America. Over the last several years that region has had stable growth with an average rate some of 6% with an increasing need for IT solutions and services. Our offer meets expectations of customers in countries like Chile, Argentina, Uruguay, and Brasil. We have opened subsidiaries in Santiago de Chile and Buenos Aires, in addition to our office in Panama. Comarch was established twenty years ago as a start-up. Now it is a corporation of four thousand people with over 220 million Euro of annual revenue and added value of 80%. How was that possible? We started twenty years ago in post-communist Poland. As a university professor at that time I have had the privileged of first rate access to extremely cheap highly quality human resources. Imagine that if now someone in Western Europe could get an unlimited number of IT engineers with a salary of 150 Euro per month. I used that opportunity to build a company with much added value. Direct profit was not the absolute driver. Then, as now, we used all profits to develop new lines of products. At the moment we have 150 modern product lines for various industries. This gives us a strong industrial competitive advantage. We do not compete on price, we compete on quality. Janusz Filipiak DR Comarch 34 35

19 Businesswoman DR 36 Le marché immobilier au Luxembourg souvent méconnu à l étranger. Beaucoup pensent que tout y est cher, ce qu il faut relativiser et venir découvrir. Dolores Jimenez Focus sur le marché immobilier au Luxembourg Interview avec Dolores Jiménez, fondatrice de Dolores Jiménez International Real Estate, cabinet spécialisé dans les domaines de l immobilier et de la construction. Pouvez-vous nous raconter l histoire de votre société en quelques mots? J exerce dans le métier de l immobilier depuis plus de 20 ans, avec une connaissance approfondie de la construction et de tout ce qui a trait à l organisation et au suivi des projets de bâtiment qu il s agisse de constructions neuves ou à rénover ce qui me permet d offrir un service global sur mesure de qualité à mes clients acquéreurs. Cette approche prend une place prépondérante dans toutes les activités de la société. Pour les demandes plus pointues, je n hésite pas à faire appel aux meilleurs spécialistes locaux, tout en restant l unique interlocutrice pour mes clients. Ma clientèle, en partie internationale, désire généralement investir dans un voire différents pays européens voire même outre-atlantique. Question de gérer au mieux les actifs. La société met tout en œuvre pour que notre clientèle puisse passer à l achat sans se soucier de quoi que ce soit. Nous nous chargeons de l asset management (aussi en fiscalité), du project management voire d autres aspects en fonction des besoins et souhaits de nos clients. Nos produits proposés peuvent aller de biens de prestige qui représentent une valeur attractive pérenne dans le temps comme des biens d investissement stratégique avec un ROI attractif. Je me suis installée dans le pays, pour servir au mieux ce type de clientèle. Le Luxembourg, de par sa position géographique, économique et financière, offre des opportunités intéressantes au niveau des transactions immobilières. Après avoir suivi les cours des métiers de l Immobiliers, ainsi que d autres cours concernant la fiscalité à la Chambre de Commerce au Luxembourg (LSC), cela m a permis de développer encore un peu plus mes connaissances dans le secteur de l immobilier au Luxembourg en ce inclus les règles juridiques et légales en vigueur. Quels sont les atouts du Luxembourg aujourd hui dans le cadre des investissements immobiliers? Le pays jouit avant tout d une stabilité tant politique qu économique. Cela rassure les investisseurs privés aussi bien que les investisseurs institutionnels. En outre, l État luxembourgeois développe de nouveaux secteurs économiques, afin de pérenniser sa stabilité. Le pouvoir d achat élevé, la grande ouverture du Luxembourg à une population étrangère, de même que la facilité d installation dans le pays sont à citer au rang des atouts. L immobilier, de prime abord semble plus cher que dans les pays alentours, mais le prix de revient final, grâce aux nombreuses aides de l État, la TVA réduite, les frais d enregistrement, et bien d autres avantages font que le prix est quasiment identique, en tenant compte des produits et des localisations comparables que par exemple, la Belgique ou même la France (ceci ne concerne que les nouvelles constructions ainsi que les biens sur le marché secondaire avec une taxation professionnelle). Les nouvelles constructions ont bien souvent une qualité de finition supérieure. En plus, ces dernières années, le Grand-duché n a cessé de mettre en place de nombreuses infrastructures dédiées aux sports et aux loisirs, pour offrir une qualité de vie de premier plan au Luxembourg, en dehors des banques et des commerces et ainsi faire du pays un endroit agréable à vivre. 37

20 Focus La Loi sur les Family Offices Nouveau défi pour le Luxembourg Le Luxembourg a adopté le 21 décembre 2012 une loi relative à l activité de Family Office (la Loi). Elle propose une définition fonctionnelle de cette activité et envisage de nouveaux défis pour le Luxembourg afin de renforcer sa position de place financière majeure. La Loi permet au Luxembourg d être le premier pays européen à réguler cette activité. Une approche fonctionnelle des missions du Family Office L activité de Family Office consiste, selon la Loi, à fournir des conseils en gestion de patrimoine à des personnes physiques, des familles ou des entités patrimoniales mais aussi à prendre en charge le suivi administratif ou financier portant sur un patrimoine familial et / ou à coordonner les professionnels offrant de tels services. La Loi n envisage pas les services de conciergerie et de conseils en mode de vie. La gestion d actifs nonfinanciers n est également pas visée. L activité devant porter sur une ou plusieurs familles, les Single Family Office, ne rentrent pas dans le champ d application de la Loi. Seuls les professionnels soumis à une autorité de contrôle pourront utiliser le titre de Family Office. La Loi place le family officer comme un interlocuteur privilégié des Familles pour leur apporter des réponses adaptées et coordonner les différents acteurs nécessaires à la gestion de leur patrimoine. De nouveaux défis pour le Luxembourg Les Family Offices sont des conseillers de confiance et doivent donc être totalement transparents avec leur client. Concernant la rémunération des services, la Loi pose le principe de la transparence qui doit être accepté par tous les acteurs. La Loi crée également un environnement dynamique pour le développement de Multi Family Offices. Elle permettra d accroitre la protection des familles en garantissant des services plus professionnels fournis par des entités contrôlées. Enfin, la loi doit permettre au Luxembourg de devenir un centre de compétences internationales en matière de Family Office comme c est déjà le cas pour les fonds d investissement. Améliorer l attractivité du Luxembourg Cette Loi ne vise que les Multi-Family Offices mais pourrait permettre d attirer au Luxembourg des Single Family Offices et ainsi développer l attractivité du Luxembourg comme une place dédiée à cette activité. Complétant le panel des nombreux «outils» que le Luxembourg offre en matière de gestion de patrimoine, la Loi apparaît comme un gage de sécurité supplémentaire pour les familles et comme un moyen de renforcer l attractivité du Luxembourg comme place financière. Elle crée un label de qualité en confiant l administration des actifs des clients auprès de professionnels dédiés. Les Family Offices sont des conseillers de confiance et doivent donc être totalement transparents avec leurs clients. Pierre-Siffrein Guillet Head of Development - French Market DR 38 39