On 21 December 2012, Luxembourg has adopted a law on the activity of Family Offices (the “Law”). Luxembourg is thus one of the first countries to implement a specific and coordinated legal and regulatory framework for the activity of Family Offices. Within this new framework, the activity of a Family Office will be reserved to specific Luxembourg professionals, which will have to comply with additional professional obligations.
The Law entered into force on 2 January 2013.
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