Tag Archives: Luxembourg

Luxembourg Employers Face Additional Obligations During Heat Waves in the Midst of COVID-19

On August 8, 2020, in response to local meteorology reports of expected temperatures of above 95°F, Luxembourg’s Ministry of Health announced a “red alert warning,” and implemented a Heat Wave Plan. The Heat Wave Plan (i) advises that older individuals, infants, and those with chronic illnesses may be affected by such high temperatures and (ii) offers personal check-in and hydration services by the Luxembourg Red Cross and home care agencies. All such visits must adhere to COVID-19 safety procedures.

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ILN Firm of the Month – Bouchoms & Braesch, Luxembourg!

The ILN is proud to announce our latest firm of the month, Bouchoms & Braesch, Luxembourg!
Bouchoms & Braesch is an independent law firm in Luxembourg, which serves private organisations, family businesses and public entities.
Bouchoms & Braesch was created by two lawyers with more than 10 years’ experience working at renowned law firms and financial institutions. The members of Bouchoms & Braesch sought to create their own firm with personalized services for its valued clients.
Bouchoms & Braesch offers a full range of services to its clients. These services include corporate law, corporate finance, mergers and acquisitions, corporate governance, national and international tax law, collective procedures and liquidation of regulated and unregulated vehicles and business litigation. 
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ILN Today Post

Luxembourg is deleted from the map of Hungary

The recent amendment of the Luxembourg – Hungary double tax treaty will result in a sharp decrease of Luxembourg-based schemes for Hungarian real estate transactions. Those groups which currently use such schemes for holding their Hungarian real estates will need to react fast.

Foreign investment groups often structure acquisitions of Hungarian real estate through Luxembourg-based holding companies. In such schemes each Hungarian real property is owned by a separate Hungarian company which is, in turn, held by the ultimate shareholder through a foreign holding company, often established in Luxembourg. From a tax point of view, this scheme provides an optimal solution not only for the continuous income flow from the real estates, but also for an eventual sale of the real estate.

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