News & Analysis as of

Luxembourg

Ius Laboris

Dismissal for a single (serious) act

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Can an employer dismiss an employee for a single wrongful act? And if so, does this wrongful act make the employee liable for damages caused to the employer?...more

A&O Shearman

Luxembourg introduces tax relief package for corporates and individuals

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On July 17, 2024, the Luxembourg Minister of Finance submitted Bill of Law #8414 to the Luxembourg Parliament. The Bill proposes a series of tax measures aiming to make Luxembourg a more attractive place to work, do business...more

Goodwin

Luxembourg Proposes Updates to Blockchain Laws

Goodwin on

On 24 July 2024, the Ministry of Finance proposed Blockchain Bill IV, which will offer greater flexibility and legal certainty for issuers using Distributed Ledger Technology (DLT). The Bill will update three of Luxembourg’s...more

Goodwin

New Tax Measures Designed to Reinforce Luxembourg’s Attractiveness

Goodwin on

On 17 July 2024, the Luxembourg government introduced, under new Bill n° 8414, a comprehensive legislative package meant to modernise and enhance Luxembourg’s tax system. ...more

Goodwin

Revitalizing Luxembourg’s Housing Market: An Insight Into the New Measures

Goodwin on

In a strategic move to support and breathe new life into the housing market, the Luxembourg government has enacted a sweeping set of measures in a law voted on by Luxembourg’s parliament on May 22, 2024. Aimed at both...more

A&O Shearman

Amendments to Luxembourg laws to implement MiCAR and TFR: key takeaways and impact on VASPs

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On 21 May 2024, a bill of law n° 8387 was introduced before the Luxembourg Parliament. Its objective is to amend several pieces of Luxembourg legislation to operationalise various European regulations, in particular...more

White & Case LLP

Luxembourg Tax Update: Key Takeaways from Prime Minister Luc Frieden’s State of the Nation Address

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In his State of the Nation Address on June 11, 2024, Luxembourg Prime Minister Luc Frieden introduced several significant fiscal policy initiatives aimed at enhancing the country’s attractiveness to international businesses...more

Hogan Lovells

Is Luxembourg still in a position to remain the preferred EU jurisdiction for Reinsurance Captives?

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Luxembourg is currently the largest captive reinsurance market in the European Union. Most reinsurance companies domiciled in Luxembourg are captive-type – i.e., subsidiaries within a group that are insuring or – probably...more

Goodwin

Proposed Amendments to Pillar Two Law in Luxembourg

Goodwin on

On 12 June 2024, Luxembourg published a bill of law amending the law of 22 December 2023 (the Pillar Two Law[1]) implementing EU directive no. 2022/2523, largely known as the “EU Minimum Tax Directive” or “Pillar Two...more

Ius Laboris

AI and the employment relationship

Ius Laboris on

The general public's enthusiasm for artificial intelligence (AI) technologies is making its way into the workplace. While AI offers many advantages, employers must remain aware of the risks that a lack of supervision can...more

A&O Shearman

Integrating Sustainability: Luxembourg's Legal Advancements with the CSRD

A&O Shearman on

On the 2nd of April, a pivotal legislative proposal, bill of law number 8370, was introduced in the Luxembourg Parliament to transpose the Corporate Sustainability Reporting Directive (CSRD) into national law. The CSRD will...more

Freiberger Haber LLP

The Assignment Of Litigation Rights And Champerty

Freiberger Haber LLP on

It is not often that we examine a case involving the doctrine of champerty. The last time we did so was on March 8, 2023 (here). We also examined the champerty doctrine in 2021 (here), 2020 (here), and 2016 (here)....more

Morgan Lewis - Tech & Sourcing

Luxembourg’s Financial Services Regulator Enhances ICT Incident Reporting Framework

New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new...more

Cadwalader, Wickersham & Taft LLP

Teaming Up for Term Loans February 2024 - Luxembourg and the Cayman Islands: A Comparative Analysis of Two Leading Fund Finance...

Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more

Hogan Lovells

Luxembourg, an attractive framework for fund financing

Hogan Lovells on

Luxembourg is the largest investment fund center in Europe and the second largest in the world after the United States. It is therefore not surprising that Luxembourg is one of the main jurisdictions currently involved in a...more

King & Spalding

ELTIF 2 Chancen und Defizite

King & Spalding on

BaFin veröffentlicht einen FAQ zur überarbeiteten ELTIF-Verordnung - Am 1. Februar 2024 hat die Bundesanstalt für Finanzdienstleistungs­aufsicht (BaFin) ein FAQ zur am 10. Januar 2024 in Kraft getretenen, überarbeiteten...more

Goodwin

What DORA Means for Fund Managers

Goodwin on

Q: What is DORA? “DORA” stands for the Digital Operational Resilience Act, an EU regulation that creates a new framework for the EU financial sector with regard to information and communications technology (ICT)....more

A&O Shearman

CRD VI cross-border rules take shape

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Final provisions on cross-border banking services in the EU published - CRD VI will bring in uniform minimum prudential requirements for third country branches providing banking services in the EU and, more importantly,...more

Goodwin

Luxembourg - Minimum Net Wealth Tax Regime Partially Unconstitutional

Goodwin on

On 10 November 2023, the Luxembourg Constitutional Court ruled that the current minimum net wealth tax regime, as applied to Luxembourg resident companies, partially violates the constitutional principle of equal treatment....more

A&O Shearman

Luxembourg Employment Law: Top 10 Topics for 2024

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Please find below a concise summary of our top 10 topics to watch out for in 2024, with some practical tips and recommendations on how to prepare and respond effectively to these challenges and opportunities....more

Proskauer Rose LLP

UK Tax Round Up - December 2023

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Welcome to December’s edition of our UK Tax Round Up. This month has seen two interesting decisions on the connections needed for amounts to be taxed as employment income, the latest instalment in the BlueCrest partner...more

A&O Shearman

The UPC Court of Appeal in action: Insights from the first hearing before the UPC Court of Appeal

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Today marked a ‘historic moment’ for the UPC, as Klaus Gabrinsky, the President of the UPC Court of Appeal, noted in his opening remarks: the first UPC Court of Appeal hearing, on 18 December 2023 in Luxembourg. The case...more

Hogan Lovells

Useful Luxembourg court case on interest free loans

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Interest free loans – new Luxembourg court case provides useful clarifications regarding their qualification as debt or equity. On 23 November 2023, the Luxembourg Court of Appel (“LCA”) ruled on the debt or equity...more

Hogan Lovells

Minimum Net Wealth Tax (“minNWT”) regime considered partially unconstitutional

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The constitution court ruled partially unconstitutional the minimum net wealth tax in Luxembourg. See below the positive impact of such decision....more

Hogan Lovells

Luxembourg, the space to be

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Luxembourg is a jurisdiction, globally well-known for its fund industry (2nd place in the world for investment funds), but finance is not the sole sector you should have in mind while thinking of Luxembourg. The space sector,...more

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