In an international country like Luxembourg, enforcing a foreign decision is a recurring problem. It often happens that, after obtaining a favorable decision abroad, creditors are faced with the challenge of enforcing this decision against recalcitrant debtors who nevertheless have considerable assets in Luxembourg. Conversely, many debtors find themselves obliged to defend their rights and …
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The amended Immigration Act of August 29, 2008 on the free movement of persons and immigration governs the stay of nationals residing in the Grand Duchy of Luxembourg for more than three months. This law groups together different residence permits for different categories of people: 1) Residence permit for paid employment. This residence permit allows …
By Me Nirina LARAVINE-MATTHE and Céline UMBDENSTOCK The 4th European Anti-Money Laundering Directive (EU) n°2015/849, aims to combat money laundering and the financing of terrorism, has strengthened the rules on customer identification and improved awareness of money laundering and financing of terrorism, in particular by advocating a risk-based approach, as part of the so-called “KYC” …
While the health crisis we’ve been experiencing for over a year now has turned our daily lives and the way we work upside down, the digital revolution is accelerating and accentuating the risk weighing on businesses, which are being forced to rapidly implement remote working in order to maintain their activity. Indeed, the increasing volume …
Continue reading “Cybercrime: virtual crimes, real consequences”
Fairness, equality, discipline: these are some of the values promoted by the<fn sport.>https://fr.unesco.org/themes/sport-antidopage/education-aux-valeurs{[(|fnote_end|)]}, tragically mocked by darkly-intentioned sports bettors. In addition to its recreational dimension, sport can also be a lucrative business for fans through online sports betting and gaming. The considerable growth of this type of entertainment, and the size of the capital it …
Continue reading “Online sports betting and gaming: goalkeeper compliance”
Working in Luxembourg – hurdles and tasks for german companies and their employees Despite all the ease of finding a job or setting up a business across borders, there are still differences between the German and Luxembourg legal systems that employees and employers should be aware of. Together with the German Bar Association in Luxembourg …
Every Luxembourg company must establish and keep up to date a shareholders’ register which is part of the company’s corporate records kept at the company’s registered office and central place of management. The amended Law of 10 August 1915 on commercial companies (the “Company Law”) does not foresee a specific form how a shareholders’ register …
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On March 30, 2021, the European Commission announced—along with the South Korean data protection authority—the positive conclusion of talks on negotiations on a future adequacy decision between the EU and the Republic of Korea. According to the Commission, “[…] the adequacy dialogue confirmed the high degree of convergence between the European Union and the Republic …
Continue reading “Data transfers to the Republic of Korea: made easier soon?”
During an interview in 2019, at an investment fund in Luxembourg, when I raised the idea of organizing a workshop on ethics that would not focus on financial products, I saw the surprise of my management contacts who wondered what the content of this workshop might be. I use the blind spot as an image …
Continue reading “Ethics imperative in finance’s blind spot”
Introduction The term “beneficial owner” originated in common law countries, notably in the United States of America with the adoption of the patriot act1)The USA PATRIOT Act (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act following the attacks of September 11, 2001. This law used the term “benefical …
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