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Investment Funds

Luxembourg

Whether you are launching, operating, lending to or investing in a fund or an alternative indirect investment vehicle, you need to overcome legal hurdles which may be from a domestic and/or cross-border perspective. Our pan-European funds group advises across your key asset classes including private equity, real estate, infrastructure, hedge, venture capital, debt and exchange traded funds.

Luxembourg being the second largest fund centre in the world and the first in Europe, CMS Luxembourg naturally established a department dedicated to the funds industry. Our team of experts is able to advise you on all types of funds, regulated or unregulated, and other indirect structures. Our experience and varied client base enables us to advise on the commercial as well as the legal and tax aspects. 

We are highly skilled at, and have a reputation for, efficiency and providing commercial and pragmatic advice to reach successful deal conclusions quickly and on sensible budgets. We recognise the fast-moving regulatory climate and aim to simplify the legal minefield with our expert funds guides. These cover developments such as those affecting passporting and private placement regimes and allow you to keep pace with key market changes. 

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Feb 2018
CMS Guide to Private Place­ment of Funds
When im­ple­ment­ing the Al­tern­at­ive In­vest­ment Fund Man­agers Dir­ect­ive (“AIFMD”), some EU States have tightened or severely re­stric­ted their private place­ment re­gimes, which is im­port­ant when non-EU man­agers and funds look to ac­cess EU in­vestors.Our Gu
Feb 2018
CMS Guide to Pass­port­ing
The EU Com­mis­sion pro­moted pass­port­ing rights as one of the key be­ne­fits for hedge, private equity, real es­tate and oth­er al­tern­at­ive in­vest­ment fund man­agers au­thor­ised un­der the Al­tern­at­ive In­vest­ment Fund Man­agers Dir­ect­ive (“AIFMD”).However, we a

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03 July 2020
We­bin­ar re­cord­ing | How to be com­pli­ant with AML/CTF re­quire­ments?
11 August 2020
New bill of law al­low­ing for is­su­ance of de­ma­ter­i­al­ised se­cur­it­ies is­sued...
On 27 Ju­ly, the Lux­em­bourg par­lia­ment pub­lished a new bill of law n° 7637 (the “Bill of Law”) that will amend the fol­low­ing two laws: the law of 6 April 2013 on de­ma­ter­i­al­ized se­cur­it­ies...
02 July 2020
VAT Ex­emp­tion of fund man­age­ment ser­vices un­der­mined by the CJEU
28 July 2020
CSSF provides fur­ther guid­ance on money laun­der­ing in­dic­at­ors in the col­lect­ive...
On 3 Ju­ly 2020, the Lux­em­bourg su­per­vis­ory au­thor­ity for the fin­an­cial sec­tor, the Com­mis­sion de Sur­veil­lance du Sec­teur Fin­an­ci­er (the “CSSF”), pub­lished a new cir­cu­lar let­ter n°20/744 (“Cir­cu­lar...
18 June 2020
We­bin­ar re­cord­ing | Di­git­al As­sets
Shap­ing the fu­ture of in­vest­ments ?
24 July 2020
12-month re­view of the re­vised FATF stand­ards on vir­tu­al as­sets and vir­tu­al...
In June 2020, the Fin­an­cial Ac­tion Task Force (“FATF”) pub­lished a re­port which sets out the find­ings of the FATF on the 12-month re­view car­ried out by the lat­ter on the im­ple­ment­a­tion of the re­vised...
17 March 2020
AML V and vir­tu­al as­set ser­vice pro­viders
Art­icle in AGE­FI Lux­em­bourg
17 July 2020
CSSF pub­lished FAQ re­gard­ing Cir­cu­lar CSSF 02/77
On 7 Ju­ly 2020, the Com­mis­sion de Sur­veil­lance du Sec­teur Fin­an­ci­er (the “CSSF”) pub­lished a list of fre­quently asked ques­tions in re­la­tion to the pro­vi­sions of Cir­cu­lar CSSF 02/77 con­cern­ing the...
23 January 2020
Dis­cus­sion on block­chain and token­iz­a­tion
16 July 2020
Do earn-out clauses help with M&A trans­ac­tions in­flu­enced by COV­ID-19?
In times of COV­ID-19, many trans­ac­tions are dif­fi­cult to ne­go­ti­ate, par­tic­u­larly when it comes to the pur­chase price. Can earn-out clauses be of any help? This is a ques­tion that needs to be answered...
13 January 2020
CMS strengthens its pres­ence in Lux­em­bourg
New fully op­er­a­tion­al cor­por­ate and tax teams join CMS
14 July 2020
More con­flict­ing judg­ments from Eng­land and France: un­cer­tainty for users...
In­tro­duc­tion In a sig­ni­fic­ant case for in­ter­na­tion­al com­mer­cial ar­bit­ra­tion, on 23 June 2020, the Par­is Court of Ap­peal re­jec­ted an ap­plic­a­tion to an­nul an ICC award, find­ing that the ar­bit­ral tribunal...