Luxembourg: Corporate Governance

Luxembourg has introduced a new law allowing founders of private limited liability companies (SARLs) to defer the cash payment of the EUR 12,000 minimum share capital for up to 12 months following incorporation. This legislative change addresses the practical challenge of opening bank accounts before incorporation, enabling businesses to launch quickly without immediate funding requirements while maintaining statutory minimum capital safeguards.

The long-awaited transposition into Luxembourg law of Directive (EU) 2022/2381 on improving the gender balance among directors of listed companies and related measures (the "Directive") is now on track.

In a press release dated 10 October 2023, the Luxembourg Commission de Surveillance du Secteur Financier presented the current state of diversity within the management bodies ...