Rising Stars

Tax in Luxembourg

Allen & Overy Luxembourg

The 'responsive and personable' team at Allen & Overy Luxembourg is able to provide 'practical advice' to the firm's impressive roster of fund clients on the tax structuring of regulated/unregulated funds in a way that effectively 'navigates a way through the complex nuances' associated with tax legislation. Jean Schaffner and Patrick Mischo co-head the team, and as well as handling fund-related work (both on the initial structure and pursuant to downstream investments), also regularly provide advice on structured finance matters and tax litigation. Julie Carbiener joined Simmons & Simmons in Luxembourg in April 2021.

Practice head(s):

Jean Schaffner; Patrick Mischo

 

Other key lawyers:

Sophie Balliet; Franz Kerger

Testimonials

‘The responsive and personable team is adept at providing very pragmatic and simple practical advice in an extremely complex area.’

The team is very quick to react, very personable and provides really good practical advice that navigates a way through the complex nuances of a situation in a safe way.’

The team is very flexible and displays a constructive approach.’

Key clients

Ares Management

Work highlights

  • Advised US-based global alternative investment firm Ares Management on the structuring and launch of ACE V, its latest pan-European Luxembourg-based debt fund platform, investing in senior corporate debt.

Arendt & Medernach

'Extremely sophisticated and accomplished in both its technical expertise and its attention to client service', Arendt & Medernach's six-partner team has the strength-in-depth to handle a tremendous range and volume of advisory, transactional and contentious tax advice. Team head Thierry Lesage combines technical knowledge with a 'deep understanding of the commercial and non-tax legal considerations at stake in every situation', ensuring that he is a popular choice among clients seeking to navigate the national or international tax considerations pursuant to private equity, finance and real estate transactions. Having spent several years as head of the firm's New York office, Eric Fort has strong connections with North America-based clients and is known for his expertise at handling tax matters associated with real estate and private equity transactions, as well as work relating to private wealth structuring. Other recommended partners include Vincent Mahler, who heads up the practice's Paris desk and Jan Neugebauer, who regularly provides the tax input pursuant to unregulated and regulated real estate structures. At an associate level, Alexandra Clouté is 'very technically skilled and provides timely and practical advice'.

Practice head(s):

Thierry Lesage

Testimonials

‘The tax practice at Arendt & Medernach is extremely sophisticated and accomplished in both its technical expertise and its attention to client service.’

‘Team members are highly responsive and demonstrate exceptional understanding of the business considerations and needs that underlie and coexist with tax matters; this makes their advice accurate, timely and practical.’

‘Thierry Lesage is an exemplary advisor. His technical knowledge is unmatched and he pairs it with a deep understanding of the commercial and non-tax legal considerations at stake in every situation. He is also highly engaged within the Luxembourg tax practitioner community, making him a valuable resource for market insights and intuition.’

Alexandra Cloute is very technically skilled and provides timely and practical advice.’ 

Key clients

Spotify

Crédit Suisse

Bain Capital

Morgan Stanley

Aerium

Amethis Finance

M7 Real Estate

Summit Partners

Tunsdall Real Estate AM

Amundi

Work highlights

  • Acted as Luxembourg counsel to the committee of senior secured creditors of Swissport, one of the world’s leading air cargo handling specialists, on the successful completion of its comprehensive financial restructuring.
  • Assisted BlackFin Capital Partners and its portfolio company BlackFin Financial Services Fund II in its disposal of FundRock Management Company S.A. and FundRock Partners Ltd, the largest third-party manager of UCITS funds in Luxembourg.
  • Advised the sponsors of LakestarSPAC1SE (the very first SPAC to focus on an acquisition in the technology sector in Europe) on its IPO on the Frankfurt Stock Exchange.

Baker McKenzie

The 'very experienced' three-partner team at Baker McKenzie delivers 'clear and speedy advice on complex matters, including cross-border taxation', where clients also benefit from the firm's excellent integration with other offices throughout its vast international network. Diogo Duarte de Oliveira provides 'very good insight on complex matters', including on behalf of asset managers or institutional investors on tax advice pursuant to fund raising, management incentive strategies and transactions. Praised for his 'technical knowledge', Amar Hamouche excels at advising on corporate and international taxation, while Antonio A. Weffer is recognised as 'the best transfer pricing advisor in town'. 

Testimonials

## INSERTED START: 24-10-2021 09:35:29

‘Technical knowledge and commercial awareness/approach and extremely nice people to work with.’

‘Very knowledgeable and integrated team. All are aware of the matters of our business. Working with the team has been fundamental to increase the organization of our company.’

‘They are prepared to go the extra mile and to really seek practicable solutions to the client’s needs.’

‘The tax team is very experienced and delivers clear and speedy advice on complex matters, including cross-border taxation.’

‘We work a lot with the transfer practice of Baker McKenzie. They are very responsive and reliable. They are also pragmatic and solutions-oriented.’

‘Amar Hamouche demonstrates a set of great skills in different areas (technical, commercial, relationship, availability, etc) that I strongly praise. It is a pleasure to work with him.’

‘Diogo Oliveira is a very hands on and reliable tax partner.’

‘Diogo Duarte de Oliveira is a great tax lawyer with a wealth of experience under the belt. Diogo delivers clear and unambiguous advice on complex matters.’

‘Diogo Duarte de Oliveira is a strong lawyer and technically very strong. Diogo (and, actually, the whole team) is very client-driven, understands the clients needs and the market, quickly providing very good insight on complex matters.

Diogo works very well in structuring the situation of the clients according to their needs. He is a very open and nice person, and a very seasoned and experienced professional.’

‘Antonio Weffer is the best transfer pricing advisor in town.’

## INSERTED END: 24-10-2021 09:35:29

Key clients

AUDAX Group

ICG (Intermediate Capital Group)

Santo Domingo Group

Work highlights

  • Advised Intermediate Capital Group in an agreement to forward fund the Jaguar Land Rover site.
  • Advised Intermediate Capital Group on the acquisition of Syngenta’s Seeds Research & Development and production facility in Enkhuizen, Netherlands, by way of a complex 20-year absolute triple-net sale & leaseback transaction.

BSP

Appreciated by clients, including banks and funds, for its '360-degree tax view of matters', BSP displays 'technical expertise across all aspects of Luxembourg tax and law, and a practical approach to problem-solving'. This all-encompassing expertise is exemplified by 'very experienced' team head Alain Steichen, who as well as standalone advisory and transactional-related work, is also recognised as one of the foremost tax litigators in the country. At counsel level, Daniel Riedel 'has deep knowledge of Luxembourg tax technical issues', and Pol Mellina is 'very strong' in relation to contentious direct and VAT matters.

Practice head(s):

Alan Steichen

 

Testimonials

‘Extensive technical expertise across all aspects of Luxembourg tax and law, excellent commercial awareness and a practical approach to problem-solving.’

‘Experienced and practice-oriented team with good knowledge of current and intended tax trends.’

‘Contrary to many other tax practices splintered into sub-specializations, the continued leadership of Alain Steichen promotes a 360-degree tax view of matters moving seamlessly from VAT to DAC6 through the entire scope of corporate & private client taxation. The team displays excellence in uncommon projects where thinking out of the box is a starting point.’

‘Clarity of thinking and communication, excellent interpersonal skills across the team, commercial awareness, efficient and cost-effective .’

Alan Steichen is very experienced.’

‘Daniel Riedel is very reactive and has deep knowledge of Luxembourg tax technical issues.’

Pol Mellina is very strong.’

‘Gaelle Felly is very responsive and always provides very clear advice.’

Key clients

Goldman Sachs

Global Infrastructure Partners

Luxembourg State

Catalyst Capital

Index Ventures

Apax

Deutsche Bank

JP Morgan

Cromwell Property Group

B2Holding

DDM

JR AMC Co. Limited

Committee of Lenders (EQT, Lodbrok, Morgan Stanley and CI Investments) – Skillsoft

Committee of Unsecured Creditors of Intelsat S.A. et al.

Takeda A/S

Cipriani Group

Oriens Fund

Work highlights

  • Acted as sole Luxembourg advisor to Global Infrastructure Partners’ (GIP) latest credit fund (Spectrum Fund) in a loan granted by GIP affiliated funds to Saavi Energia.
  • Advised the pharmaceutical company Takeda on the application of the Luxembourg-Denmark double tax treaty and the eligibility of the Luxembourg SICAR to the benefits available under the Interest Royalties Directive.
  • Advised Goldman Sachs on the Luxembourg legal and tax aspects (including transfer pricing) related to the acquisition, financing and syndication through a Luxembourg holding structure of the UK publicly-listed smart meter company Calisen Plc.

Clifford Chance

Acting in a standalone capacity, and also deriving a huge amount of work by dint of the firm's impressive and eclectic roster of institutional clients, Clifford Chance regularly advises corporates, financial services entities, private equity firms and high-net-worth individuals on tax structuring. Much of the work has a cross-border complexion and the team, which is headed by Geoffrey Scardoni, is well-placed to advise on such matters as a result of the coordinated approach its can provide alongside practitioners from across the international network of offices, and its knowledge of how local systems interact with each other when structuring cross-border transactions. 

Practice head(s):

Geoffrey Scardoni

Key clients

Banco Nacional de Panamá

Partners Group

AEW

Primonial Real Estate Investment Management

Tikehau Investment Management

Signature Capital

Rothschild & Co Group

Pictet Alternative Advisors

Luxembourg VAT authorities

Eurazeo

Groupe LFPI – La Financière patrimoniale d’investissement

Allianz Real Estate

Patrizia

Elvinger Hoss Prussen

Although its work extends beyond the asset management space to also include tax advice to high-net-worth individuals and large employers establishing or moving into new offices in Luxembourg, Elvinger Hoss Prussen remains best-known for the 'efficient and responsive' service it provides to collective investment schemes and alternative funds. Elisabeth Adam  provides 'responsive and solutions-oriented advice' and recently provided the tax structuring pursuant to Brookfield Asset Management's merger with Oaktree Luxembourg AIFM. Isabelle Gervais  co-heads the team alongside Adam and is noted, in particular, for her transfer pricing expertise.

Other key lawyers:

Yves Prussen; Dirk Richter

Testimonials

‘Good team that is efficient and responsive.’

Very engaged and motivated team members who are keen to secure a good support also for mid-size engagements.’

The responsive and solutions-driven Elisabeth Adam is an outstanding tax and corporate lawyer who efficiently helped us out with a cross-border project and tax advice.’ 

Key clients

Brookfield Asset Management

Kronos Investment Group

Mirabaud Asset Management (Europe) S.A.

Suntech Global Solar Fund Partners S.à r.l.

AMC Capital IV S.C.Sp

atHome Group S.A.

ArcelorMittal S.A.

Red Cross Luxembourg

Keystone Group Holding AG

Providence Equity LLP

Storebrand Alternative Investments S.A. SICAV-RAIF

Work highlights

  • Advised Storebrand in connection with the setting up of Storebrand Infrastructure Fund, expanding Storebrand activities into infrastructure assets.
  • Advised transfer pricing on fund management services to a Luxembourg fund of hedge funds.
  • Advised Kronos on new co-investment structures.

Loyens & Loeff

Benefitting from a 'good balance of experienced and more junior staff’, Loyens & Loeff provides 'clear and concise advice on sometimes complex tax analysis’, including as it relates to VAT and international tax. The 'approachable and down-to-earth' Peter Moons is praised for his ability to 'explain complex matters well to non-Luxembourg tax experts', particularly in relation to transfer pricing matters. Jochem van der Wal co-heads the team alongside Moons and is noted for his international tax expertise on behalf of investment management and financial services entities.

Testimonials

‘The team provides clear and concise advice on sometimes complex tax analysis.’

‘It has a good balance of experienced and more junior staff.’

‘Highly skilled tax team, made of very valuable professionals. They are always open to support the clients with a clear view of the international tax environment, offering plans and solutions tailored to each client’s needs.’

‘Excellent VAT and corporate income tax technical knowledge. Unlike many law firms, liaised with the Luxembourg tax authorities and dealt with them in a practical manner.’

‘Peter Moon is approachable, down-to-earth and provides an excellent service. Peter explains complex matters well to non-Luxembourg tax experts.’

‘Peter Adriaansen is always available, open to discussion and able to give valuable help, thanks to his capacity to anticipate possible problems and the implications of each matter.’

‘Charlotte Haarsma-den Dekker is a valued and trusted advisor.’

Key clients

Amaggi Group

Goldman Sachs

Hidrovias Group

IK Investment Partners

Novartis Group

Rede d’Or São Luiz

Volpi Capital

Summit Partners

Ultrapar International

Unigel Participações

Work highlights

  • Advising major international groups, including Amazon, with respect to formal and informal State aid investigations.
  • Advising numerous major asset managers on all tax and legal aspects related to setting up Luxembourg funds entities, and applying innovative solutions to implement ATAD 1 and ATAD 2 structuring.
  • Advising several Latin American enterprises on their Luxembourg bond issuances.

TS&P

A 'distillation of the finest Luxembourg tax knowledge', the team at independent business law boutique TS&P is according to one client: 'technically the best in Luxembourg and the go-to-place for those wanting to know the law and not just market practice'. Such acclaim has been hard-earned but quickly established since the foundation of the firm in 2018 and the team, which is headed by the 'very responsive and reliable' André Pesch  has rapidly built up a strong reputation for its aptitude at providing 'tailored solutions which reflect the client's needs rather than off-the-shelf standards’. Pesch, who is 'second-to-none in his brilliance', has been pivotal to the firm's success, in light of his advisory/structuring work for asset management entities, as well as his skills as a tax litigator, which have recently included high-profile state aid cases. Carlos Morales Ribas heads up the team's transfer pricing offering and is a key part of the team that also includes the 'strong and thorough' Emilie Mattos.

Practice head(s):

André Pesch

Testimonials

‘TSP’s tax team is more commercial than its peers. I include accounting firms in this. They understand a client’s risk profile and advise accordingly.’

‘The technical excellence and tailored approach to clients makes this team truly special… a distillation of the finest Luxembourg tax knowledge’.

‘The TS&P tax team is technically the best in Luxembourg and is the go to place for those wanting to know the law and not just market practice. They offer consistent excellence.’

‘TS&P provides legal and tax advice in a very solution oriented and proactive manner – providing tailored solutions which reflect the client’s needs rather than off-the-shelf standards.’

‘André Pesch is a charming man, very responsive and reliable. A strong lawyer!’

‘Andre Pesch and Arnaud Lebrave are very commercial. Always available. Has helpful connections.

‘I worked mainly with André Pesch who has superior skills in Luxembourg tax law, is quick to react and up to the point and very constructive’

‘Andre Pesch is second-to-none in his brilliance. Emilie Mattos is strong and thorough.’

Ashurst

Co-headed by the 'pragmatic, flexible and knowledgeable' Cecile Henle and Georges Simon, Ashurst is best-known for its contentious tax offering. In this context, the team has been in considerable demand, particularly in light of the tax authorities increasingly looking to challenge tax structures. As well as acting for clients in the domestic courts, both Henle and Simon have experience representing clients before the Court of Justice of the European Union. Praised for her ability to 'help, advise and find solutions’, Chiara Bardini is the main contact for non-contentious work and handles a considerable amount of structuring advice deriving from the firm's real estate, private equity and banking clients.

Practice head(s):

Cecile Henle; Georges Simon

Other key lawyers:

Chiara Bardini

Testimonials

‘The team has in-depth knowledge of Luxembourg tax matters, especially, from my experience, in relation to litigation matters. The way they put up a strategy to defend our case and the continuous follow up, keeping us up to speed at all times, made us feel comfortable and well informed at every step. The final outcome could not have been better either.’

‘Both Cecile Henle and Georges Simon were very much involved in the process, with a realistic and practical approach at all times. The proximity and open communication were factors of differentiation to other law firms in Luxembourg.’

‘Georges Simon and Cécile Henle are two great partners. Their technical knowledge is highly appreciated.’

‘Cécile Henlé and Georges Simon are very professional and keen to abide by clients’ deadlines.’

‘Cécile Henlé is very dedicated and extremely knowledgeable.’

‘Georges Simon brings creativity to the table that is very much appreciated.’

‘Chiara Bardini is “Miss Access”, she is always there to help, advise and find solutions.’

Key clients

Samsung Securities

Kendall Square Asset Management

Roebuck Asset Management

KTB Asset Management

DTZ Investors –

Castlelake

Soludec management

EQT Real Estate

Barings

ICG / Intermediate Capital Group

Work highlights

  • Assisted several taxpayers (companies of a multinational group) before the Luxembourgish administrative court and the Court of Justice of the European Union (CJUE) as regards the request for a preliminary ruling from the Luxembourgish administrative court.
  • Assisted several taxpayers before the European Court of Justice as regards the request for a preliminary ruling from the Luxembourgish administrative court.
  • Advised Castlelake in relation to the Luxembourg legal and tax aspects of the sale of Carossa, a holistic 100,000-square-meter quarter in Berlin’s Spandau Hakenfelde district.

Charles Russell Speechlys

Unsurprisingly, perhaps, given the firm's longstanding and market-leading private client offering, the 'highly skilled and extremely client-focused' five-strong team at Charles Russell Speechlys has gained most visibility in the market for the tax advice it provides to high-net-worth individuals and family offices. In addition, the team continues to pick up a considerable amount of work for mid-sized funds, corporates and banks on a range of mandates, running the gamut from compliance assistance to structuring and day-to-day tax advices. Appreciated for 'his technical expertise coupled with his pragmatic approach', team head Yacine Diallo has been pivotal to the firm's growing credentials in the market and as well as his knowledge of local tax law, is also very well-versed on international tax, including as it relates to Africa-related matters. Rafael Moll De Alba joined Eversheds Sutherland (Luxembourg) LLP in September 2021.

Practice head(s):

Yacine Diallo

 

Other key lawyers:

Alexis Urbin-Choffray

Testimonials

‘Very professional, always available, very well updated technically.’

‘They have a personalised approach and are client-focused.’

‘The team is highly skilled and extremely client focused. They offer a very personalised service which is unique in Luxembourg. Diversity is at the core of this team, with really strong leadership through its partners but also a unity and cohesiveness clearly evident throughout the team. All of this combined provides for a real comfort and top class client experience.’

‘The passion and dedication to work of the tax team, ranging from compliance assistance to structuring and day-to-day tax advices. The expertise of the tax team covers a vast part of regions, including Europe, Latin-America, Africa and Middle East.’

‘CRS Luxembourg is one of the most client-driven law firm I have ever worked with. They always come with efficient and smart solutions in a timely manner, therefore our collaboration is very profitable considering that time is essence for the closing of our deals. Last but not least, they perfectly understand the need of our business, which is helping in terms of solutions delivered.’

‘The CRS Luxembourg tax team is very competent, thorough and organized. On several occasions they have come up with solutions to complex problems that we had been grappling with for some time, and they executed on those solutions very effectively.’

‘The team has great experience in international tax planning. They are also fast in providing answers.’

‘Yacine Diallo is a really top lawyer, very dedicated to clients with the right combination of technical and communication skills.’

‘Yacine Diallo is a superb lawyer; his technical expertise coupled with his pragmatic approach. He is our “go to” in Luxembourg and we only wish we could clone him in other jurisdictions!’

‘Yacine Diallo is an exceptional lawyer and a gentleman. He has deep knowledge of the business and industry, yet he always tries to improve.’

‘Yacine Diallo is very responsive and effective. He’s exactly what you want in a tax lawyer… extremely competent and decisive with follow-through and a good team.’

‘So far, we have exposure with Alexis Urbin-Choffray who is very successful in delivering comprehensive structuring advice, covering in particular several landmark deals. Since then, Alexis has been a valuable tax counsel on various of our deals and managed to build a steady relationship which is very fruitful for our business.’

Key clients

Battery Ventures

Modo Group

Future Processing Group

MNK Partners

Stonehill

KALIAN

Work highlights

  • Providing the tax input in relation to the strcuturing of MNK One SICAV RAIF, a Luxembourg pan-European real estate investment fund managed by MNK Partners, as well as on several subsequent landmark acquisitions in Hungary, Ireland, Poland and Portugal.
  • Advising pan-European real estate developer, Stonehill Group on a significant funding transaction for the acquisition of a land located in Turin to be developed by Stonehill Group into student accommodations and sold back to M&G post-development.
  • Assisting Kalian on a complex internal reorganisation.

CMS

Led by Frederic Feyten, who 'has a unique expertise of international tax', CMS provides 'efficient' and 'pragmatic' advice on the Luxembourg structures to facilitate cross-border transactions derived from the firm's M&A and finance practices. The team also generates a substantial volume of work from the firm's growing investment funds practice, and regularly assists alternative asset managers on the tax structuring on their downstream investment work.

Practice head(s):

Frédéric Feyten

 

Testimonials

‘Very strong on international/cross-border tax issues.’

‘Good knowledge regarding transfer pricing.’

‘Bilingual team; pleasant to work with; very friendly in their communication; keeping deadlines most of the times, pragmatic approach.’

‘The whole team managed to provide efficient advice in line with our needs.’

‘We work with Frederic Feyten who I value very much as a professional and a person. His calibre in local and international tax is outstanding, his careful and step by stem approach as well as his innovative and out-of-the box thinking has provided solutions to issues which were impossible in the beginning.’

‘Frédéric Feyten has a unique expertise of international tax and cross-border transactions, particularly for US-based clients.’

‘Alejandro Dominguez provided exceptional easy-to-grasp guidance on complex tax matters.’

Key clients

VW Bugatti

Terra Firma Capital Partners (Capitola Capital III Sàrl)

Amundi Real Estate

Mirova

Principal Real Estate Europe

Barings

Biogroup

VW Bugatti

Terra Firma Capital Partners (Capitola Capital III Sàrl)

Amundi Real Estate

Mirova

Principal Real Estate Europe

Barings

Biogroup

Work highlights

  • Assisted Volkswagen’s luxury division Porsche AG in the framework of the acquisition of an additional stake of 8.8% in Rimac Automobili.
  • Advised Amundi on the acquisition of Neopark an office complex located in Poland.
  • Advised Principal European Core Fund with the acquisition of (i) a high-end logistics building in Alsmeer, the Netherlands, and (ii) of the 10,000 sqm Helix office building in Utrecht, the Netherlands.

Dentons

Benefitting from 'exceptional insight into the market' and a 'very good practical knowledge of Luxembourg and international tax law’, Dentons works alone, as well as in collaboration with other practitioners from across the international network, on a range of advisory, structuring and compliance matters. 'Excellent' team head Jean-Luc Fisch 'has an unparalleled knowledge of private equity structuring', particularly in the context of cross-border investments.

Practice head(s):

Jean-Luc Fisch

 

Other key lawyers:

Romain Baroan; Vincent Quittre

Testimonials

‘The team has a very good practical knowledge of Luxembourg and international tax law.’

‘They have exceptional insight into the market. Capability to turn around comprehensive restructuring memos in a short timeframe. Always reachable. Further, Dentons is introducing new online tools for ATAD II, facilitating hybrid entity analysis in a step by step approach, simplifying the analytic procedure for clients (admittedly clients with a certain legal tax background).’

‘Jean-Luc Fisch is an excellent tax advisor with a practical approach and who is well-informed on new developments.’

‘Jean-Luc Fisch has an unparalleled knowledge of private equity structuring. Further, his clients can truly capitalise on his excellent network and pragmatic approach.’

Vincent Quittre has an in-depth knowledge of the new ATAD I & II measures as well as DAC6, which is invaluable in the recent times of ongoing EU tax directives modifying the landscape across the EU.’

Key clients

Islamic Development Bank

FSDAi

Polenergia

Gemini Real Estate group

Gemcorp Capital LLP

Work highlights

  • Advised Islamic Development Bank on the Luxembourg tax and transfer pricing aspects relating to a $25bn trust certificate issuance programme alongside a Luxembourg co-issuer.
  • Provided tax due diligence and legal/regulatory advice to FSDAi, the investment arm of the UK aid-funded financial inclusion organisation FSD Africa, and its investment in Lendable Fintech Credit Fund I, a sub-fund of Lendable S.A., SICAV-RAIF.
  • Advised Kulczyk Holding, a Luxembourg corporation, on the planned reorganisation of its controlling stake in Polenergia, the largest independent energy group based in Poland.

DLA Piper

The ‘very dynamic’ team at DLA Piper is on an upward trajectory, with the arrival of the ‘very strong and hardworking’ Luis Muñoz in January 2021 from Allen & Overy Luxembourg adding further ballast to a growing team that now includes seven fee-earners that are focused on tax matters. Although it is fairly broad in the scope of work it handles, the team remains best-suited to handling multi-jurisdictional tax structuring work, particularly in the context of pan-European investment funds. Team head Jacques Wantz has ‘excellent communication skills and technical knowledge’, which he deploys to good effect on the tax aspects of cross-border private equity, real estate and debt investments and the tax structuring of regulated and unregulated investment funds.

Practice head(s):

Jacques Wantz

Testimonials

‘Very hands-on, built to suit structures and out-of-the-box thinking.’

‘The team is very dynamic.’

Jacques Wantz is definitely active on the market, with excellent communication skills and technical knowledge.’

‘Jacques Wantz and Emre Akan are very talented.’

‘Jacques Wantz and Luis Munoz are both quite dynamic and eager to grow their business. The two tax partners are fresh, pleasant and knowledgeable.’

‘Luis Munoz is responsive, very hands-on and reliable.’

‘Luis Munoz is a very strong and hardworking lawyer, with great expertise and technical skills.’

Key clients

Lehman Brothers Holdings Inc.

Harbert Management Corporation

Adams Street Partners

Mezzanine Management

MiddleGame Ventures

Murosa Development

Familia Group

Barings

DTZ Investors

Hogan Lovells (Luxembourg) LLP

The 'responsive, insightful and commercial' team at Hogan Lovells (Luxembourg) LLP 'understands the issues at play in all aspects of Luxembourg tax and also the incorporation of various structures', including as it relates to real estate funds. Much of the work is of a cross-border nature and in this regard the team 'interfaces well with other international offices' spread across the firm's large global network. Team head Gérard Neiens provides 'responsive, cost-effective and efficient solutions' in the context of international tax planning, cross-border M&A/financing transactions and investment fund structuring.

Practice head(s):

Gérard Neiens

 

Testimonials

‘The team is very proactive and affirms its position of a comprehensive and pragmatic boutique. It delivers a high-quality service on a daily basis and manage the clients’ projects in a timely and efficient way.’

‘The team is responsive, insightful, commercial and understands the issues at play in all aspects of Luxembourg tax and also incorporation of various structures. They provide a guiding hand for both managers and administrators and are crucial for activities going through the jurisdiction.’

‘The team has been excellent and has helped us on several transactions in Luxembourg. The whole team was very smart subject matter experts; they were capable, responsive and always professional.’

‘Each member of the team is always available for any question. Their solutions are always based on a clear text or latest jurisprudence.’

‘Gerard Neiens provides responsive, cost-effective and efficient solutions.’

‘HL Luxembourg have readily stepped in to assist where some other Luxembourg service providers have fallen down. It also interfaces well with other international offices for various cross-border issues.’

Key clients

ACE & Company

Cheyne Capital

CPI Property Group

Garbe Industrial Real Estate

Intermediate Capital Group

LaSalle

Pantheon Ventures

RiverRock

Sequoia Capital China

YESSS

Work highlights

  • Advised LaSalle in the setting-up of a REITs structure in Spain to invest in residential properties for rent and the first acquisition, a six-storey residential property in Madrid financial district.
  • Advised Sequoia Capital China on its majority stake in ready-to-wear brand Ami Group, alongside founder and artistic director Alexandre Mattiussi, and its Managing Director Nicolas Santi-Weil.
  • Advised Santander Consumer Bank AG on its €5bn programme for the issuance of asset backed fixed rate notes, arranged by Société Générale S.A.

Linklaters

The 'technically strong' team at Linklaters regularly forms an integral structuring role in the context of corporate, capital markets and finance-related transactional work handled by the firm. 'Very responsive' team head Joakim-Antoine Charvet has a particular focus on cross-border private equity-related structuring and regularly works alongside practitioners from across the firm's impressive network of offices.

Practice head(s):

Joakim-Antoine Charvet

Testimonials

‘The tax team I work with is technically strong in their field and very responsive. They work seamlessly with their legal team together to deliver the project.’

‘Joakim-Antoine Charvet was the key contact and lead of tax team, he worked closely with other country tax team as well as their legal team, which was a very efficient way of working from the client perspective. He has been very responsive and the quality of deliverables was high standard; I am happy to work with him again in the future.’

Key clients

Triton Partners

Antin Infrastructure Partners

Kinetik / Arrival

Cerberus Capital Management

Cheyne Capital Management

Intu Properties

Sprints Capital Rob R Partners S.A

NautaDutilh

Regularly working alongside practitioners from across the firm's Benelux network, and also benefiting from strong ties with many high-profile international law firms, NautaDutilh has a particular focus providing the tax input pursuant to cross-border corporate (including private equity-led) and finance transactions handled by other firmwide departments. Team head Jean-Marc Groelly is at the forefront of the most significant work handled by the practice and is best-known for his tax expertise pursuant to alternative investment funds and structured finance.

Practice head(s):

Jean-Marc Groelly

 

Other key lawyers:

Audrey Derep

Key clients

RiverRock European Capital Partners LLP

ARA Venn (formerly Venn Partners)

Accelero Capital ACDC Fund

Work highlights

  • Assisted RiverRock European Capital Partners LLP to acquire, in consortium with Willis Towers Watson, a multifunctional building complex for ice skating, events and catering located in Nijmegen (The Netherlands) from T&L Vastgoed B.V.
  • Assisted Accelero Capital on the sale of the entire share capital of ACDC Holdings, the controlling shareholder of SUPERNAP Italia, to IPI Partners.
  • Assisted Venn Partners LLP with the set-up of the Cartesian 5 RMBS securitisation transaction.

Stibbe

Acting on its own, as well as being able to leverage a strong global tax team throughout Benelux, the 'very knowledgeable, efficient and pragmatic' team at Stibbe is well-versed at handling standalone local advisory or compliance matters, as well as structuring in the context of cross-border transactional work. Team head Johan Leonard is praised for his 'responsiveness and openness when dealing with complex issues', including in the context of funds and capital markets-related work.

Practice head(s):

Johan Léonard

 

Other key lawyers:

Christophe Martin-Raynaud

Testimonials

‘A great team to work with. Passionate and knowledgeable, they take client service very seriously and are always ready to go the extra mile.’

‘Stibbe has a very solid tax team, with a deep expertise in the structures and vehicles that are used to invest in Spanish real estate assets.’

‘It is a very knowledgeable, efficient and pragmatic team. They have strong knowledge in international tax matters and their team is always available to advise appropriately.’

They always look for proactive solutions and are ready to think outside of the box.’

‘Johan Leonard and his team are practical but sound and always on top of the most recent developments.’

‘I work with Johan Leonard, tax partner. I value his expertise, responsiveness and openness when dealing with complex issues.’

Key clients

AccorInvest

CBRE

Ginkgo Advisor

Icamap

InPost

Morgan Stanley & Co. International plc

Xerys

Zaoui & Co. Ltd (Michael and Yoel Zaoui)

Work highlights

  • Advised InPost S.A., valued at $8bn, in relation to its IPO and listing on Euronext Amsterdam.
  • Advised one of the first Luxembourg SPACs on its setting up and listing on the Amsterdam Stock Exchange.
  • Advised one of Belgium’s largest banks in relation to the setting up of an investment platform investing in sustainable businesses.

Bonn & Schmitt

Bonn & Schmitt regularly provides tax structuring advice pursuant to investments made by core private equity clients (including EQT), as well as in the context of financing facilities on behalf of banks. Senior counsel Anne Selbert is the main contact and has a strong grounding across direct and indirect tax matters, international tax and transfer pricing.

Practice head(s):

Anne Selbert

Other key lawyers:

Frédéric Lemoine

Key clients

EQT

BIL

Coros

GSK Stockmann

Led by the 'responsive' Mathilde Ostertag, the 'approachable and well-informed' team at GSK Stockmann regularly provides the tax structuring pursuant to private equity and real estate investment work handled by the firm's transactional lawyers. Most of the work is of a cross-border nature, including a considerable volume of matters for German-speaking clients.

Practice head(s):

Mathilde Ostertag

Other key lawyers:

Katharina Schiffman

Testimonials

‘The team is very familiar with their market and is excellent at advising  international clients to help them reach informed decisions to legally minimise liabilities.’

‘The team is approachable and well informed; able to advise clients clearly and in simple layman terms which helps considerably to reach informed decisions.’

‘Practical and fun to work with.’

‘Mathilde Ostertag is responsive.’

Key clients

Obton A/S

Stonehill Holdings Sarl

Axa Investment Managers

Grand City Properties S.A.

Aroundtown SA

Airbus Bank

Universal-Investment-Luxembourg SA

Glenmont Partner

Falcon Group

Kalrock

Modifi

Hauk & Aufhaüser Bank

Nord LB

Work highlights

  • Advising Obton A/S on the acquisition of part of the EOS structure comprising a Luxembourg Holding company holding ten Italian subsidiaries active in the renewable energy sector.
  • Advising Stonehill Holdings in its negotiations with M&G Real Estate for the financing of the €62.1m PBSA (Purpose-Built Student Accommodation) in central Bologna, Italy.
  • Advising AXA Investment Managers on the tax and legal structuring of the high-value acquisition of a substantial office building, the implementation of a Luxembourg acquisition structure including Luxembourg investment law and financing.

LexField

The ‘very dedicated and reactive’ team at independent boutique LexFieldmaintains high standards on cross-border mandates‘ and provides vital support to the firm’s corporate and private equity practices, in particular. ‘A highly skilled operator who has phenomenal technical knowledge’, team head Pierre-Yves Magerotte is pivotal to this work and is also well regarded for his private client-related tax work.

Practice head(s):

Pierre-Yves Magerotte

Other key lawyers:

Pierre-Siffrein Guillet

Testimonials

‘It is a very dedicated and reactive team.’

‘We have found a combination of competence and agility with partner involvement at reasonable cost that is usually hard to find in the Luxembourg market.’

‘Pierre-Yves Magerotte: always available, very knowledgeable.’

‘Pierre-Yves Magerotte is highly competent and client-oriented. He always has a pragmatical approach in his analysis. He understands clients needs.’

‘Pierre-Yves Magerotte leads the tax practice at LexField and is an expert in the field. The practice supports the corporate and private equity teams seamlessly.’

‘Pierre-Yves Magerotte is a highly skilled operator who has phenomenal technical knowledge.’

‘Pierre-Yves Magerotte is a very clever professional and a very reactive one. He has a deep knowledge of various tax and and legal issues. It is always a pleasure to work with him.’

‘Pierre-Yves Magerotte was directly involved through the whole transaction. We appreciated direct collaboration and precise advice on the matter.’

Key clients

Babilou

Aldgate Development

Helios Investment Partners

KSL Capital Partners

Hostimentum S.A.

Andera Partners

Kick Invest S.A.

Fabrique d’Image S.A.

Citius Group

Work highlights

  • Advised a UK real estate developer on the structuring of its investments, cross-border tax issues and exit strategies.
  • Advised Citius Group on the set-up and structuring of its first Luxembourg investment fund.
  • Advised a major French private equity player on its investment in a leading media film and television content distribution group.

Maples and Calder (Luxembourg) SARL

Led by the 'techically excellent' James O’Neal, Maples and Calder (Luxembourg) SARL provides 'responsive, creative and diligent' tax structuring advice associated with cross-border M&A/financing handled by the firm's roster of alternative asset management firms.

Practice head(s):

James O’Neal

 

Testimonials

‘The team is responsive, creative and diligent.’

James O’Neal is technically excellent, very collaborative and was available at all hours to work through various issues.’

‘Jean-Dominique Morelli has great technical skills – strong experience as a tax lawyer – efficiency and reactivity at understanding and addressing the relevant issues at stake.’

Key clients

BCP Securities, LLC, C

Credit Suisse (Securities) LLC

Jefferies Group LLC

Cardinal Capital Group

Afiniti Group

Stoneshield Capital

Chinese National Offshore Oil Corporation

Work highlights

  • Formed part of a multidisciplinary Luxembourg team to support three major investment banks, in the largest diversified payment rights securitisation of cross-border remittance flows in Latin America to date.
  • Advised on multiple rounds of cross-border financing for a Luxembourg alternative investment fund into multiple Irish target companies, via a Luxembourg holding and financing structure.
  • Advised a consortium of AIFs with multiple target acquisitions and restructuring under intense urgency and short deadlines.

Norton Rose Fulbright

Led by the 'very efficient' Florent Trouiller, Norton Rose Fulbright delivers 'a multidisciplinary and solutions-driven approach' to the tax structuring associated with corporate, banking and capital markets transactions handled by the office. Cross-border private equity and real estate tax advice is a particular focus where clients benefit from a "one-stop-shop" service due to the firm's vast international network.

Practice head(s):

Florent Trouiller

 

Other key lawyers:

Raphaële Kamoun

Testimonials

‘The team provides a multidisciplinary and solutions-driven approach.’

‘The team displays strong partner involvement, provides prompt responses and tailored solutions.’

The main assets of the firm is the quality and loyalty of their people. They remain open to give guidance or advice and regularly share experience or practice they see on the market or when a new regulation comes in force.’

‘Florent Trouiller is very efficient and attuned to trends.’

Key clients

Ambridge Europe Ltd

Appian Capital Advisory LLP (UK)

Bourbon Maritime

Brookfield Asset Management

Cedar Oxygen

Citigroup Inc.

Generali

HSBC

LFIS Capital

National Bank of Canada

Olympus Property Holding Limited

Oxus Development Network

Perwyn Advisers UK Limited

Province of British Columbia

WebOps Sàrl

Work highlights

  • Advising Oxus Development Network on tax and transfer pricing work.
  • Advised National Bank of Canada in respect of its EMTN Programme for the issuance of bonds that were publicly offered in Luxembourg.
  • Advised Bourbon Maritime, on a lender-led financial restructuring.

Simmons & Simmons in Luxembourg

With two partners focused on tax matters, following the arrival in May 2021 of Julie Carbiener from Allen & Overy Luxembourg, Simmons & Simmons in Luxembourg provides an increasingly balanced offering to clients, particularly in light of Carbiener's contentious and VAT expertise. Pierre-Régis Dukmedjian heads the team and plays a pivotal role on tax structuring associated with the firm's growing asset management offering.

Practice head(s):

Pierre-Régis Dukmedjian

Strelia

Tax is a core area of focus for boutique business law firm Strelia and includes work for existing fund clients, as well as advice on stand-alone tax litigation matters. Formerly at Fieldfisher, Jean-Luc Dascotte has a focus on tax disputes, and heads up a two-partner practice that also includes Stanislas Bunetel, whose arrival from an in-house role at BIL Fund &Corporate Services in October 2020 provides particular strength regarding private client-related structuring.

Practice head(s):

Jean-Luc Dascotte

Other key lawyers:

Stanislas Bunetel

Testimonials

What is particularly remarkable at Strelia Luxembourg is to meet a multidisciplinary team, coherent, particularly attentive, flexible and able to mobilise in record time the necessary resources, sufficient to respond effectively to the needs of their clients’ needs.’

The relationship established with Stanislas Bunetel is excellent both on a human and professional level. Through his benevolent advice, we can see his total mastery of the law, of the financial world but also of the Luxembourg and international economic fabric. We also feel this entrepreneurial side which makes him a unique person, extremely competent and always available when needed.’

Key clients

IE Partners

Deerfield

Consortix

Bremco

Indikatrix

Crosslane

Hadida

Bavetta

Goedert & Ginepri

Cap Consultant International

Work highlights

  • Advised US-based investment platform, Impact Energy Partners LLC, in the setting-up and structuring of its financing structure for the acquisition of shares in a disruptive renewable energy project.
  • Providing ongoing tax advice to pharma-focused US-based investment fund, including on direct and indirect tax matters.
  • Advising Hungarian investors on the tax aspects of their Luxembourg-held investments.