Relocations for individuals and companies
Dear Friends
We can feel the general trends in some major European jurisdictions increasingly talking about taxing unrealised capital gains or increasing the already high tax and administrative burden.
If you are considering relocating, have a quick look at the following practical considerations :
• Relocate to Luxembourg
• You benefit from all EU rights
• It’s a multilingual jurisdiction
• The laws dont change every quarter
• Its has a robust healthcare sector
• There is a good entry point for RE buyers
You have to consider a few preliminary moves, like creating a newco and therefore a link with the Luxembourg financial center or transfer the registered office of your current company to Luxembourg to benefit from a stepped up tax value.
For transfer of the seat route, it is a process of 6m requiring the appointment counsels early on and you will need a)to hold a shareholder meeting in your home state and b) to publish a (i)crossborder transformation project that includes the Luxembourg articles of the company, (ii)certain publications for employees or lack thereof and (iii) to wait out the lapse of certain procedural delays for creditors for instance as applicable.
In Luxembourg once the formalities in your home state have been completed, you can hold an extraordinary general meeting before a notary where you shall be represented by proxy and you shall approve the incoming transformation, registered office, director(s).
You can also consider creating a company by contributing the shares of your company in your home state and this process subject to a complete KYC file can be done within one week.
Check with your local counsel the practical tax impact of your exit and reach out EARLY.
We can always design a good solution and work with a counterpart in our network in your home state if you dont have any local counsel.
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