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Netflix moves HQ to Netherlands from Luxembourg: premier

US video streaming service Netflix is moving its European headquarters to the Netherlands from Luxembourg, Prime Minister Xavier Bettel said on Tuesday.

“The government has been informed by the company that it plans to moves its headquarters to the Netherlands, likely from the beginning of 2015,” Bettel told parliament in a statement.

The prime minister gave no reason for the company wishing to move.

Luxembourg is known for its low tax regime, especially for audiovisual services.

Netflix came to Luxembourg in 2011 and has since expanded its European business into Britain, Ireland, Scandinavia and the Netherlands.

Based in California and claiming more than 44 million subscribers worldwide, Netflix reportedly plans operations next in France, Germany, Belgium, Switzerland and Austria.