Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 03 APRIL 2019

BREXIT: Luxembourg Takes Additional Steps To Mitigate Brexit Effects

Atoz Tax Advisers
Atoz Tax Advisers
Contributor
Atoz Tax Advisers

Atoz Tax Advisers

Our firm Founded in 2004, ATOZ Tax Advisers is a leading independent tax advisory firm offering a...

View firm profile
Explore more from Atoz Tax Advisers

Yesterday, a second draft law was released aiming at mitigating Brexit effects for the investment fund sector.

LuxembourgGovernment, Public Sector
Jérémie Schaeffer
Jérémie Schaeffer

Yesterday, a second draft law was released aiming at mitigating Brexit effects for the investment fund sector. It follows the first draft law on Brexit, which introduced among others a grand-fathering period of up to 21 months during which UK management companies of Luxembourg undertakings for collective investment in transferable securities (UCITS) and UK alternative investment fund managers (AIFMs) would be able to respectively continue managing Luxembourg UCITS funds and continue managing/providing services to Luxembourg AIFs in case of "hard" Brexit.

The second draft law released yesterday aims at modifying the law of 17 December 2010 on undertakings for collective investment (UCIs), as amended (the UCI Law) and the law of 13 February 2007 on specialised investment funds (SIFs), as amended (the SIF Law) to mitigate the following two additional Brexit effects:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

AMLA Finalises Three Sets Of Regulatory Technical Standards

The Anti-Money Laundering Authority has finalized three sets of Regulatory Technical Standards that will establish a unified framework for obliged entities across the European Union to combat money laundering and terrorist financing. These standards address customer due diligence requirements, transaction identification criteria, and group-wide compliance measures, marking a significant step toward harmonized AML/CFT enforcement throughout the EU.
European UnionGovernment, Public Sector
Ganado Advocates
Ganado Advocates
Article

AML/CTF Playbook: EU Edition #3: Mapping The Expansion Of EU Obliged Entities

The European Union's newly adopted anti-money laundering and counter-terrorist financing package represents a significant evolution in financial crime prevention, introducing a harmonised rulebook that expands the range of entities required to comply with AML/CTF obligations. This comprehensive analysis examines how the Package transforms the regulatory landscape for obliged entities across EU member states, comparing the new requirements against both the previous EU directive framework and existing domesti
European UnionGovernment, Public Sector
A&O Shearman
A&O Shearman
Article

New Limit To Large Cash Payments And Prohibition Of Anonymous Instruments

The Anti-Money Laundering Regulation introduces sweeping changes to EU financial compliance, establishing a EUR 10,000 cap on cash transactions, prohibiting anonymous financial instruments, and mandating the conversion of bearer shares. These measures fundamentally reshape how businesses handle large payments and corporate ownership structures, with strict deadlines and automatic penalties for non-compliance.
LuxembourgGovernment, Public Sector
CMS Luxembourg
CMS Luxembourg
Article

Customer Due Diligence Measures – Key Changes You Need To Know

The Anti-Money Laundering Regulation introduces significant changes to Customer Due Diligence requirements, expanding trigger events and deepening information obligations. Organizations must understand these new compliance measures, including lower transaction thresholds, enhanced sanctions screening, and stricter reporting requirements before the July 2027 implementation deadline.
LuxembourgGovernment, Public Sector
CMS Luxembourg
CMS Luxembourg
Article

UAE VAT – FTA Clarifies The Requirements For The Verification Of The Validity And Integrity Of Supplies Of Goods Or Services

The UAE Federal Tax Authority has introduced new supplier verification and supply validation requirements that fundamentally alter VAT compliance obligations. Taxable persons must now implement comprehensive due diligence processes to confirm the authenticity of suppliers and transactions before claiming VAT refunds. This regulatory shift places unprecedented responsibility on businesses to actively validate the legitimacy of their supply chain transactions.
United Arab EmiratesTax
Atoz Tax Advisers
Atoz Tax Advisers
Article

UAE Corporate Tax – Updated Guidance On The Taxation Of Family Foundations (2026)

The Federal Tax Authority has issued an updated Corporate Tax Guide on the Taxation of Family Foundations for 2026, introducing important clarifications to the UAE Corporate Tax regime. The new guidance addresses previously uncovered areas including asset transfers, tax basis adjustments, fiscal transparency limitations, and multi-family ownership arrangements, providing greater certainty for family wealth structures operating under UAE tax law.
United Arab EmiratesTax
Atoz Tax Advisers
Atoz Tax Advisers