Insights

On 28 October 2022, a new Luxembourg procedure to wind up empty shell companies swiftly has been introduced: administrative dissolution without liquidation. The new procedure will be available to the Luxembourg Prosecutor (Procureur d’État) and Luxembourg Business Register (“LBR”) as from 1 February 2023.

Draft bill n°7885 submitted in Luxembourg Parliament in September 2021 and aiming to establish a foreign investment control regime in Luxembourg is expected to come into force in early 2023. The foreign investment control regime will apply to “foreign investors” acquiring “control” over “critical activities” in Luxembourg.

Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 (“PRIIPs Regulation”) concerns key information documents for packaged retail and insurance-based investment products and applies as from 1 January 2018.