The law of July 21, 2023, amending various investment fund laws, has been adopted, promulgated, and is in effect since July 28, 2023.
The reform law updating Luxembourg’s investment law, which was voted on by the Luxembourg Parliament at the beginning of the month, is now in effect after being promulgated and published in the local official journal (Mémorial A).*
The Act of April 21, 2023 amending the amended Act of August 29, 2008 on the free movement of persons and immigration was published on May 8, 2023 in the Mémorial A 228 (hereinafter the “Act”).
Among other things, the Law structures the various categories of removal measures, with a view to better management of the phenomenon of illegal residence of third-country nationals on Luxembourg territory, and modifies the system of detention of such nationals.
The law also sets out a significantly more restrictive framework for granting residence permits for private reasons, as summarized below:
The Court of Justice of the European Union has just published a ruling invalidating the provision of the EU Anti-Money Laundering Directive that makes information on the beneficial owners of companies publicly available. A victory for those who had opposed the RBE in Luxembourg.
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