Sometimes we need general rules to understand corporate legal procedures and processes. However, a detailed individual case gives us the possibility to study a question deeper and concentrate on specific legal collision and issues.
This article is devoted to corporate legal issues for public companies incorporated in Luxembourg.
Luxembourg Companies Legislation
Luxembourg has a very stable corporate legislation. Companies Act (hereinafter — the Act) was adopted in 1915 and only influenced several amendments. The Act provides that the main forms of business established there are private limited liability companies and public limited liability companies. According to legislation, the liability of members is limited by the contribution to the capital and the main difference between the two is that the share capital provided by the public companies is higher and the shares of the private companies are not freely tradable, unlike the shares of public companies. Amended in 2015, it introduced a new form of companies — the simplified public company (SAS). All legal entities registered in Luxembourg must have a registered office as their principal headquarters, and must be registered with the Register of Commerce and Companies in Luxembourg before starting any commercial activity.
We are focused on the corporate issues of public limited liability company. The pros of such a type of company, financial instruments, which a company may use, should be effectively stated in the Charter.
The purpose of the Company shall be the acquisition of ownership interests, in Luxembourg or abroad, in any companies or enterprises in any form whatsoever, the management of such ownerships as well as any management services. The Company may in particular acquire by way of subscription, purchase and exchange, or in any other manner, any stock, shares and securities of whatever nature, including bonds, debentures,...
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