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Luxembourg

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In Corporate Compliance

Luxembourg: New accounting thresholds in Luxembourg — what companies and groups need to know

by and 4 Mins Read

The Grand-Ducal Regulation of 25 October 2024 (GDR) introduced new accounting thresholds in Luxembourg, aligning with Delegated Directive (EU) 2023/2775, which was adopted on 17 October 2023.
This measure aims to increase the accounting thresholds applicable to companies and groups in response to the inflation observed between 2013 (adoption of the 2013 EU Accounting Directive) and 2023, and to reduce administrative burdens for businesses.
For that purpose, the GDR amends the provisions of the Luxembourg law on commercial companies dated 10 August 1915 as amended and the Luxembourg law on the register of commerce and companies and accounting dated 19 December 2002 as amended.

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In Employment

Luxembourg: Transparency and predictability of working conditions — Upcoming changes

by and 7 Mins Read

On 26 June 2024, the Luxembourg parliament adopted draft bill No. 8070 (“Law”). The Law aims to implement into Luxembourg law Directive (EU) 2019/1152 of the European Parliament and of the Council of 20 June 2019 on transparent and predictable working conditions in the EU (“Directive”).

The Directive aims to enhance transparent and predictable working conditions across the EU by mandating comprehensive employment contract information and ensuring timely communication of essential job details to employees. It seeks to improve job security and provide a clear legal framework for employment relationships.

In AML & Financial Services Regulatory

Luxembourg: Implementation and enforcement of the Digital Operational Resilience Act into Luxembourg law

by and 5 Mins Read

On 2 July 2024, the Luxembourg law (“Law”) implementing the new EU framework for the effective and harmonized management of digital risks in the financial sector, namely the Digital Operational Resilience Act (DORA), was published in the Luxembourg official gazette. Like DORA, the Law will apply from 17 January 2025.

In Employment

Luxembourg: New law implementing EU provisions in favor of non-European highly qualified employees

by and 5 Mins Read

On 15 May 2024, the Luxembourg Parliament adopted draft bill No. 8304 (“Law”), which aims to implement Directive (EU) 2021/1883 of 20 October 2021 on the conditions of entry and residence of third-country nationals for the purposes of highly qualified employment (“Directive”).
The primary goal of the Directive is to update the EU Blue Card rules, providing a more targeted legal migration system to address skill shortages and facilitate entry for highly qualified workers. More specifically, it provides for more flexible admission conditions for highly skilled foreign workers, notably in terms of the minimum wage threshold, enhanced rights, more favorable conditions for family reunification, and the possibility of traveling and working more easily in other EU member states.

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In Antitrust / Competition

Luxembourg: Upcoming merger control regime

by and 8 Mins Read

Luxembourg is preparing to implement in its national law an ex ante merger control regime which includes a mandatory notification requirement with turnover thresholds and a standstill obligation.
The purpose of Draft Bill No. 8296 (“Bill”), recently submitted to the Luxembourg parliament, is to give the Luxembourg Competition Authority the power to assess in advance whether a corporate concentration significantly hampers competition in Luxembourg.
The Bill currently provides that the law will only enter into force four months after its publication in the Luxembourg official journal. This should give businesses time to adapt to the new obligations.

In Corporate Compliance

Luxembourg: Non-profit associations and foundations reform

by and 6 Mins Read

On 19 September 2023, the law dated 7 August 2023 overhauling the centenary law of associations and foundations (“Law”) was published in the Luxembourg official gazette. The Law repeals the law of 21 April 1928 on non-profit associations and foundations. The Law aims to lighten and modernize the legal framework for non-profit associations and foundations and provide more accounting transparency to guarantee better control and thus create a new legal framework that meets the current associative and charitable sector’s needs.

In Employment

Luxembourg: New leave for employees and new measures to ensure better work-life balance introduced

by and 4 Mins Read

On 17 August 2023, the law transposing the EU Directive 2019/1158 of 20 June 2019 on work-life balance for parents and carers was published in the Luxembourg official gazette.
On 18 August 2023, the law amending the legal provisions on paternity and adoption leave was published in the Luxembourg official gazette.

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In Corporate Compliance

Luxembourg: Reform of the right of establishment

by , , and 8 Mins Read

On 20 July 2023, the Luxembourg Parliament adopted a law reforming the right of establishment in Luxembourg (“Reform”). It amends the Luxembourg law dated 2 September 2011 regulating access to the professions of craftsperson, trader, manufacturer and certain liberal professions as amended (“Business License Law”).
The Reform aims to adapt the Business License Law to embrace the changes in the regulatory, economic, technical, technological, entrepreneurial and artisanal environments and to stimulate entrepreneurship.

In Trade and Foreign Investment

Luxembourg: Introduction of a legal national framework for the screening of foreign direct investments

by 10 Mins Read

On 13 June 2023, the Luxembourg Parliament adopted Draft bill No. 7885 establishing a national screening mechanism for foreign direct investments likely to affect security or public order for the purposes of implementing Regulation (EU) 2019/452 of European Parliament and of the Council of 19 March 2019, establishing a framework for the screening of foreign direct investments in the EU, as amended (“Law“).

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