Important update: Luxembourg adopts Digital Company Law - Effective 1 August 2023
Further to our article published in March 2022, the Luxembourg Parliament has now formally adopted law No. 7968, effective as of 1 August 2023.
This newly enacted legislation aligns with Directive (EU) 2019/1151 and focusses on the integration of digital tools and processes within company law, representing a significant step forward in simplifying the incorporation of companies and the opening of branches in other EU member states, through an online notarial process.
We plan on monitoring whether or not this development will have a substantial impact on the incorporation/formation of Luxembourg entities and shall provide an update early next year.
Our detailed article on this matter can be found here.