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Insight

Article Icon Luxembourg’s Fintech Future January 23, 2017
Interview with Lawyer Nazim Faid on the meteoric rise of the local startup scene & how it is defining tomorrow’s financial industry What do Berlin, Hong Kong, San Francisco and Luxembourg have in common?

All of them qualify as fintech hubs in their own right. Rewind a mere five years, however, and the Grand Duchy would not have made the list. ...
Article Icon Taking on a Modern-Day Goliath July 17, 2016
Interview with Lawyer (Maître) Sabrina Salvador on Holding Google Accountable We have all done it: searched ourselves on Google just to see what pops up. Most of us find benign memories of past graduations, sporting endeavors or professional milestones.

Imagine, however, that the “you” that shows up online has little to do ...

Analysis

Cryptocurrencies in Luxembourg April 12, 2018
Current regulatory approach While cryptocurrencies and cryptoassets are a technological and economic fact, high legal and regulatory uncertainty concerning so-called “tokenomics” still remain. On an EU level, it is safe to say that there is still no specific legal framework. However, Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), was a pioneer in the EU with its official “Bitcoin Communiqué 2014”, dated February 14, 2014. It stated that even if there is no specific legal framework, ...
New Law On Commercial Lease Agreements March 13, 2018
Reform of Luxembourgish Law on commercial lease agreements finally adopted. The Luxembourg Parliament has finally voted the bill of Law No 6864 on commercial lease agreements – two years after its deposit, and a series of amendments. The genesis of the bill was mainly influenced by a couple of liquidations and bankruptcies of shops in Luxembourg that happened in 2012. Thus, the intention of the legislator was to limit real estate speculation and rebalance the relations between lessees and lessors. After its first approval on the 17th of January 2018 by the Luxemburgish Parliament, ...
Article Icon Luxembourg Real Estate Investments October 10, 2017
The Grand Duchy of Luxembourg offers a host of possibilities for real estate investments both inside Luxembourg and abroad. With a well-known, first-class legal framework in place and high standards of investor protection, the Luxembourg real estate market earned approximately €1.1 billion in 2015 and €1.35 billion in 2016. The amount of net assets invested in real estate funds has continued to grow over the years and the flow of transactions exceeded the billion-euro mark for the third-consecutive time. ...
Article Icon New transfer pricing rules & tax tools July 31, 2017
A Solution that Redefines Fund Manager & CSSF Roles The Luxembourg tax authorities issued a new circular on December 27, 2016 for the fiscal treatment of intra-group financial transactions effective as from January 1, 2017 (the “Circular”).

The Circular replaced two previous circulars from 2011 and introduced, among others, ...
Article Icon Modernisation of Corporate Governance Rules July 10, 2017
Corporate governance has become a hot topic, both for professionals of the financial sector supervised by the Luxembourg financial sector regulator and for companies with shares listed on a regulated market. In recent years significant progress has been made in the quest for an optimal balance between performance and the control and prevention of risks.

For unregulated holding companies that are not listed on a regulated ...
Article Icon The European Order for Payment Procedure September 21, 2016
A Powerful Tool for Recovering Monetary Assets With 10 years in force and counting, the European Order for Payment (EOP) Procedure has successfully simplified and improved cross-border litigation in Europe. Despite its effectiveness, it has largely avoided the limelight and is a tool for recovering overdue payments that deserves some attention.

Reflecting Europe’s shift toward a single market, ...
Article Icon Introducing the RAIF July 17, 2016
A Solution that Redefines Fund Manager & CSSF Roles On July 14, 2016, Luxembourg’s Parliament approved the law on reserved alternative investment funds (RAIFs), providing the missing link first overlooked by the Alternative Investment Fund Managers Directive of 2011.

Until now, all alternative investment funds required initial approval from the CSSF, Luxembourg’s supervisory body, in addition to the integration ...
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