Students who come to pursue an MBA in Luxembourg will discover one of the most visually appealing countries in the world, with the capital, Luxembourg City, famed for its medieval castles, grand cathedrals, and glorious architecture. Despite its small size, Luxembourg is one of the most unique countries in Europe and punches above its weight in terms of GDP, quality of life, and average wage. It is also in a perfect position from which to explore the rest of Europe, sharing land borders with France, Germany, and Belgium, lying within easy reach of all Europe’s major capital cities.
Luxembourg is well-accustomed to welcoming international citizens. Around half of the total population is foreign-born. Many people who work in Luxembourg live abroad, making it one of Europe’s most multicultural nations. This cosmopolitanism also permeates the country’s higher education institutions, which – despite being few in number – have a naturally international outlook and lofty ambitions. English-language programs are widespread, cultural exchanges with partner schools throughout the world are common, and work opportunities at some of the country’s major employers – including Amazon, the European Parliament, and BNP Paribas – are a logical post-graduation route for those studying in Luxembourg.
Frequently Asked Questions
FAQ
How much will it cost to live and study in Luxembourg?
For a country with an exceptionally high standard of living as well as average wages, the cost of studying in Luxembourg is quite reasonable. The cost of an MBA in Luxembourg ranges from EUR€17,000-30,000, which is certainly cheaper than the average cost in neighboring countries. As a student, you can expect to spend between EUR€700-1,500 every month on living costs.
Do I need to get a visa to live and study in Luxembourg?
Citizens of EU/EEA countries do not need a student visa to study in Luxembourg. However, students from non-EU/EEA countries need to apply for a student visa. Before arriving in Luxembourg, you must first submit an application for a temporary visa, present a valid passport, and request a type D visa. After arriving in Luxembourg, you must then submit a declaration of arrival in your new commune of residence, undergo a medical check, and apply for a residence permit.
How reputable are universities in Luxembourg?
The country’s biggest university, the University of Luxembourg, has been steadily rising up the rankings in recent years. It currently ranks #25 worldwide in the Times Higher Education Young University Rankings and among the top 300 universities worldwide in the Times Higher Education World University Rankings 2022. It also ranks #3 worldwide for its international outlook.
What is the job market like for graduates in Luxembourg?
Luxembourg can count on a highly-skilled, highly-educated workforce with a GDP per capita that is double the European average. As a result, the country has one of the highest average starting salaries for graduates in Europe. Post-graduation, international students can easily apply for a residence permit in order to work.
Are there a lot of international students in Luxembourg?
Luxembourg itself is a hugely multicultural, international location and its universities are well-regarded for their international outlook. Universities typically teach in three different languages – French, German, and English – which attracts large numbers of students from all over the world.
Did You Know?
Fun Facts About Luxembourg
1
Luxembourg has the highest minimum wage in Europe (around EUR€2,100 per month).
2
In March 2020, Luxembourg became the first country in the world to introduce free public transport.
3
Luxembourg has the third-highest GDP per capita in the world.
4
Almost half of Luxembourg's workforce commutes to work in Luxembourg from another country (mostly from France, Belgium, and Germany).
5
Luxembourg's Restaurant Chiggeri has the world's largest wine list, offering 2,200 different wines.
Which Visas & permits do in need in Luxembourg
Citizens of EU/EEA countries do not need a student visa to study in Luxembourg. However, students from non-EU/EEA countries need to apply for a student visa. Before arriving in Luxembourg, you must first submit an application for a temporary visa, present a valid passport, and request a type D visa. After arriving in Luxembourg, you must then submit a declaration of arrival in your new commune of residence, undergo a medical check, and apply for a residence permit.
After graduating, you can apply for a residence permit in order to work, whether you want to pursue salaried employment or become a self-employed worker. The cost of renewing a residence permit is EUR€80.
Banking in Luxembourg
International students are welcome to open a bank account in Luxembourg, but it is not a legal requirement. However, opening a bank account in Luxembourg will make it easier to manage your day-to-day finances if you are living in Luxembourg. You can pay with contactless cards, debit/credit cards, or your phone across the country – even at some market stalls. The Banque Centrale du Luxembourg is the national central bank, but the small country is home to over 130 banks, a quarter of which are foreign banks from countries like Germany, France, and Switzerland.
In order to open a bank account, you need to provide a valid passport or ID, proof of address, proof of income, and an acceptance letter from your university. Many banks offer special packages for students, such as BNP Paribas, which offers free products and services for 18 to 29-year-old students.
What do I need to know about healthcare in Luxembourg
Luxembourg has one of the best quality and best-funded healthcare systems in Europe. International students from the EU/EEA will be covered by their European Health Insurance Card (EHIC) while studying in Luxembourg. Non-EU/EEA students will need to take out private health insurance before arriving in Luxembourg. Private health insurance can cover your costs for hospitalization, eye care, dental care, and medical services outside Luxembourg. Some universities might provide health insurance packages for international students, so be sure to check this with your university. You also might need to show proof of healthcare coverage to obtain a visa.
Housing options for students in Luxembourg
While it is one of the smallest countries – with a high level of safety – the prices of property and rent in Luxembourg are high. Universities in Luxembourg typically offer student accommodation in the form of university residences or single-family homes, so it is highly recommended to check with your university first in your search for student housing. This type of accommodation usually costs between EUR€350 and €500 per month (utility costs are often included).
The alternative option is to rent a private apartment, which costs between EUR€600 and €1,200 per month. To lower expenses, many students opt to share a two- or three-bedroom apartment with other students. Monthly utilities cost around EUR€180-250.
What are the public transport options in Luxembourg
Luxembourg has a vast public transport network that spans the country and provides connections with neighboring countries. Luxembourg has five transport authorities operating trains, buses, trams, and a funicular.
In March 2020, Luxembourg became the first country in the world to offer free public transport. You will have to pay for travel if you traveling in a first-class train carriage (around EUR€3-6) or if you are traveling across borders to Belgium, France, and Germany.
How much does a Big Mac cost in Luxembourg
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. The price of a Big Mac in Luxembourg is EUR€6.15 (equivalent to US$6.60 and JP¥839). For US$50, you can buy seven Big Macs.
The cost of living in Luxembourg is high, an illustration of the country’s high standard of living. As a student, you can expect to spend between EUR€700-1,500 every month on living costs.
