The new procedure, which came into force on
February 1, 2023, speeds up the removal of "empty shells"
companies from the Luxembourg Trade and Companies
Register, with the aim to reduce length
and costs.
Companies must meet three criteria to be subject to this
sanction: involvement in activities contravening
company, commercial or criminal
law provisions, absence of assets and absence of
employees.
The procedure allows for a rapid dissolution of
companies without liquidation, completed within
six months of opening of the procedure.
Excluded from this regime are civil companies,
certain banks, insurance companies, funds and law firms registered
on the Luxembourg Bar's list V.
