Legal news

DORA: The CSSF is making far-reaching changes to its regulatory framework on ICT risks and outsourcing

On 9 April 2025, the CSSF published a series of circulars aligning its regulatory framework with the European DORA (Digital Operational Resilience Act) regulation, in force since 17 January 2025. These updates aim to remove regulatory overlaps and clarify the obligations of supervised entities. The new circulars set forward a clear distinction between the entities covered by DORA and the non-DORA entities, given that the regulatory requirements are tailored to each category. ICT risk management CSSF Circular 20/750 (amended by CSSF Circular 25/881): Applies only to non-DORA entities (support PFS, POST Luxembourg, branches of third-country PSPs). The obligations specific to ...
April 14th, 2025| Legal news

Key phases to know for FWU LIFE INSURANCE LUX S.A. creditor policyholders

In its judgment dated 31 January 2025 ordering the dissolution and compulsory liquidation of FWU LIFE INSURANCE LUX S.A. ("FWU"), the Luxembourg court set the timeline for FWU’s liquidation, the key phases of which are the following for creditor policyholders: Claim declaration: each FWU creditor policyholder must submit his/her/its claim declaration to the liquidator, Maître Yann Baden (the "Liquidator"), within three (3) years following the judgment, meaning by 31 January 2028 at the latest under penalty of foreclosure. This declaration must be submitted to the Liquidator in compliance with Article 252 (4), (5) and (6) of the Law of 7 ...
April 2nd, 2025| Legal news

Recent legal developments in Real Estate

PDF I. Introduction The Luxembourg legislators and administration have brought several legislative changes impacting the real estate industry in Luxembourg, and further legal initiatives have been announced in draft bills. The Luxembourg Constitutional Court also issued an important decision. II.  Recent changes in laws and regulations 1. New Tax measures i. Package of measures to revitalize the housing market – indirect taxation With the introduction of the Law of May 16, 2023, amending the Law of 30 July 2002 on various tax measures to encourage the marketing and acquisition of building land and residential property, as amended, the amount of ...
March 10th, 2025| Legal news

Luxembourg National Identification Number and the R.C.S. – new LBR communiqué – the end of the transitory period is finally known!

As we mentioned in our 26 November 2024 publication (link), the Luxembourg Business Registers (the "LBR") announced, on 3 March 2025, that the transitory period for the updating of files will end on 30 September 2025. Starting from 1 June of this year, the compulsory registration of the Luxembourg National Identification Number will be subject to a fee. All entities not having complied with this formality will risk their filings being blocked by the LBR with the Luxembourg Trade and Companies Registries (Registre de Commerce et des Sociétés, Luxembourg or "R.C.S."). Thus, starting on 1 October 2025, no filing will ...
March 3rd, 2025| Legal news

A Luxembourg court ordered the dissolution and compulsory liquidation of FWU LIFE INSURANCE LUX S.A.

Change in the status of FWU Life Insurance Lux S.A. ("FWU"): dissolution and compulsory liquidation of the insurance company By a judgment dated 31 January 2025 (not yet published with the Luxembourg electronic compendium of companies and associations at the date of this newsletter), the Luxembourg District Court ordered the dissolution and liquidation of FWU. Given that Luxembourg’s Supervisory Authority for the Insurance Sector (Commissariat aux Assurances, hereafter the "CAA"), noted the failure of FWU’s recovery plan (see its 22 January 2025 press release published on its website) it filed a petition for dissolution and compulsory  liquidation against FWU with ...
February 4th, 2025| Legal news

The new framework for size criteria of companies and groups

What are the new sizing criteria for companies and groups in Luxembourg? Find out about the changes introduced by the Grand-Ducal regulation of 25 October 2024, and their impact on your accounting and administration obligations. By Grand-Ducal regulation of 25 October 2024, published on 7 November 2024, the detailed criteria as referred to in the amended law of 19 December 2002 on the register of commerce and companies and the accounting and annual accounts of companies (the "2002 Law") as well as those relating to the exemption from consolidation of groups in accordance with the amended law of 10 August ...
January 17th, 2025| Legal news

The “permanent physical presence of the manager” – The European Commission considers that Luxembourg’s right of establishment does not comply with European law

Many economic operators, in particular international groups and craft businesses operating in several neighbouring countries, complained about the introduction by the Luxembourg law of 26 July 2023 into the law of 2 September 2011 regulating the access to the professions of craftsman, merchant, manufacturer and certain liberal professions (the "2011 Law") of the requirement for the person responsible for the day-to-day management of the business to be physically present at all times on the premises. This condition had been criticized as unrealistic and preventing businesses from organizing themselves effectively. This condition of physical presence had been included in the draft ...
December 18th, 2024| Legal news

Interview with Me LE SQUEREN for Silicon Luxembourg

In this interview, Renaud LE SQUEREN shares his insights on the implications of the AI Act for businesses, particularly startups, and the Luxembourg AI ecosystem. Read the full interview here. Silicon Luxembourg: What do you consider the main implications of the AI Act? Renaud LE SQUEREN: The AI Act comes from the standpoint that European countries are a bit late in the development of this technology. We’ve known from a theoretical standpoint for ages that AI could impact our daily lives and even democracy itself, as seen with the manipulation of votes during events like the Brexit referendum. However, the ...
December 10th, 2024| Legal news

New R.C.S. Luxembourg formalities: mandatory registration of the Luxembourg national identification number for natural persons

Since 12 November 2024, it has been mandatory to register the Luxembourg national identification number for all natural persons listed in the files of a company/entity registered with the Luxembourg Trade and Companies Registry (Registre de Commerce et des Sociétés, Luxembourg or the "R.C.S. Luxembourg"), in whatever capacity (for example, shareholders of an S.à r.l., any company representative such as directors (administrateurs) managers (gérants), auditors (commissaires), delegates in charge of day-to-day management (délégués à la gestion journalière), etc.). Note: There are some exceptions (particularly those linked to court-appointed representatives (mandataires judiciaires), and representatives of a foreign company with a Luxebourg ...
November 26th, 2024| Legal news

A Luxembourg Court ordered a stay of payment for FWU LIFE INSURANCE LUX S.A.

On 2 August 2024, the Luxembourg District Court, at the request of FWU LIFE INSURANCE LUX S.A. ("FLL"), ordered that the company be placed under a stay of payment (sursis de paiement) for a maximum period of six months. The entry of FLL into a stay of payments follows the publication on 19 July 2024, by the Commissariat aux Assurances, the authority in charge of supervising the actors in the insurance product market in the Grand Duchy of Luxembourg (the "CAA"), of a press release notifying FLL’s insolvability in that it no longer complied with its mandatory capital and solvency ...
August 27th, 2024| Legal news

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