background image
Luxembourg implements EU's European Company Statute — Orbitax Tax News & Alerts

It was announced in the Official Gazette of 31 August 2006 that Luxembourg by Law of 25 August 2006 implemented the European Company Statute (Council Regulation 2157/2001/EC) and the related Directive 2001/86/EC on the representation of employees, which were adopted by the European Council on 8 October 2001

The Law on the implementation of the Societas Europaea (SE) contains provisions on (i) the establishment of an SE in Luxembourg, (ii) the conversion of a public company (SA) into an SE, (iii) the conversion of an SE into a public company (SA), and (iv) the transfer of the statutory seat of an SE to another Member State. A proposal to transfer the statutory seat of an SE to another Member State must be deposited at the trade register. Within 2 months after such announcement, each creditor can oppose such transfer until sufficient guarantee is provided.

The Law on the alignment of Luxembourg company law with the SE regulation, as well as the Law on the implementation of the Directive on worker involvement, apply as from 8 October 2004.