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Legal market overview

In recent years, Luxembourg has gradually moved towards greater financial transparency and a clampdown on secrecy. However, recent developments in the tax sector seem likely to prompt more investigations, reviews and regulatory oversight. Regulatory changes have also dominated the jurisdiction’s strong investment funds industry as clients adjust to the Alternative Investment Fund Managers Directive (AIFMD), along with amendments to limited partnership legislation. The private equity sector continues to expand, as does the IP sector – the latter being reflected by the opening of the Luxembourg Institute of Intellectual Property.

Independent domestic firms such as Arendt & Medernach and Elvinger, Hoss & Prussen compete at the top of the rankings with international firms Allen & Overy Luxembourg, Clifford Chance and Linklaters LLP. Benelux firms are also prominent in some practice areas.

Firms in the spotlight


Deynecourt was established in 2013 by a team of attorneys and tax and finance professionals committed to creating a law firm more innovative and entrepreneurial than those they had left, and aiming to evolve in anticipation of the ever-changing needs of the client. The firm’s lawyers strive to deliver the highest quality legal work and service, to be accessible, efficient and responsive, and to find practical and effective solutions for clients.

Bonn & Schmitt

Bonn & Schmitt is a leading law firm in Luxembourg with an extensive international practice. The firm’s attorneys are experienced practitioners in Luxembourg’s legal environment and represent a broad spectrum of expertise that allows them to deliver unrivalled legal solutions in one of Europe’s leading financial centres.

Collin Maréchal

The firm was founded on 6 October 2014 by Raphael Collin and Benoit Maréchal. The main areas of practice since formation are corporate, M&A, employment, real estate, private equity, litigation, and immigration. The team is currently composed of five lawyers and three assistants.

Linari Law Firm

The firm celebrates 15 years of existence this year. The current team is composed of highly experienced lawyers who have carried on a strong collaboration with Vincent Linari for many years. The team is multilingual and multicultural with individual backgrounds, and from those differences the firm takes all its strength. The common wish of the team to provide valuable work drives the firm to a perfect unity. The firm renders assistance and advises professionals and individuals all around the world with a special emphasis on investment funds, securitisation areas, banking and financing, private equity and litigation.

Press releases

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Legal Developments in Luxembourg

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • ESMA issues additional updates to AIFM Directive Q&A

    The European Securities and Markets Authority has issued a fresh update on October 1 to its Questions and Answers document providing guidance and interpretation of the EU’s Alternative Investment Fund Managers Directive as well as the European Commission’s level II delegated regulations on implementation of the directive issued in December 2012 and May 2013.
  • Tax Update - October 2015

    This quarterly tax update is dedicated to the main changes which have occurred over the last 3 months with regard to Luxembourg and international tax law: tax_update_-_october_2015 .
  • Luxembourg moves ahead with UCITS V adoption

    Luxembourg is pushing ahead with legislation to adopt the UCITS V directive into national law. Bill no. 6845, transposing Directive 2014/91/EU of July 23, 2014, was approved by the cabinet on July 10 and placed before parliament on August 5. It is expected to be debated and adopted during the fourth quarter of the year.
  • CSSF clarifies marketing rules in updated AIFMD law Q&A

    On August 10, the CSSF issued the latest update of its Frequently Asked Questions document on the grand duchy’s law of July 12, 2013 implementing the AIFMD and the European Commission’s Level 2 regulation on implementation of the directive, last revised on December 29, 2014. The FAQ document has now run to nine versions over the past year and a half. Its aim is to highlight aspects of the AIFMD rules from a Luxembourg perspective, for the benefit primarily of alternative funds and managers established in the grand duchy. It complements Q&A documents on the AIFMD published by ESMA, itself most recently updated last month, and by the European Commission.
  • Newsflash - New legislation on staff representation

    On 23 July 2015, a new law concerning the reform of social dialogue (hereafter the “Law”) was enacted which profoundly impacts staff representation within companies. 09.09.2015_newsflash_-_new_legislation_on_staff_representation
  • Remuneration policies under CRD IV

    >The Directive 2013/36/EU (CRD IV) has finally been implemented in Luxembourg and the most part of the CRD IV provisions is now incorporated into the Law of 5 April 1993.
  • ESMA says Jersey, Guernsey and Switzerland are ready for AIFMD passport

    The European Securities and Markets Authority has published – with a slight delay of six days beyond the July 22 deadline – its advice on extending access to the EU market under the Alternative Investment Fund Managers Directive to non-EU alternative investment fund managers and funds, recommending that the AIFMD passport be granted to Guernsey, Jersey and Switzerland.
  • CSSF circular 15/612: information to be communicated to the CSSF by Luxembourg-established AIFMs

    On May 5 the Luxembourg Financial Supervisory Authority issued CSSF Circular 15/612, addressed to all managers of alternative funds subject to the 2013 legislation implementing the Alternative Investment Fund Managers Directive, regarding reporting on unregulated alternative funds, whether established in Luxembourg, another EU member state or in a non-EU jurisdiction, as well as alternative funds regulated outside the EU.
  • Legislation filed for new Luxembourg S.àr.l. Simplifiée company form

    Following the announcement by the government in January of formal plans to establish a new type of Luxembourg company, the société à responsabilité limitée simplifiée (simplified private limited liability company, or SARL-S), implementing legislation was placed before parliament on February 2. The initiative, filed with the Chamber of Deputies as Bill 6777, is also known as the “1 euro” or “1-1-1” company because it can be founded by one person, with one euro, in one day.
  • Luxembourg's Direct Tax Administration publishes circular on residency certificates for funds

    Luxembourg’s Direct Tax Administration has published a circular on February 12 clarifying issues relating to residency certificates for Luxembourg funds. These are applicable to both UCITS and non-UCITS funds regulated by Luxembourg’s investment fund legislation of December 17, 2010, which transposed the UCITS IV Directive, as well as Specialised Investment Funds set up under the law of February 13, 2007.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to