The simplified private limited liability company in Luxembourg.
Weidema van Tol briefly elaborates on the new simplified private limited liabilty in Luxembourg, the benefits and disadvantages.
The bill of law n°6777 (the “Bill of Law”) dated 21 January 2015 aims at introducing a simplified private limited liability company (“société à responsabilité limitée simplifiée” with the acronym “S.à r.l.-S”) into Luxembourg law and to consequently modify the law of 10 August 1915 on commercial companies as well as the law of 19 December 2002 on the register of commerce and companies and the accounting and annual accounts of undertakings. The main features of the S.à r.l.-S are (i) minimum share capital of EUR 1.-, (ii) shareholders reserved to physical persons only, and (iii) no notary involvement required. The Bill of Law has been adopted on 13 July 2016 by the Luxembourg Parliament and will be effective as of 16 January 2017.
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