Government in Luxembourg has passed a bill to simplify formalities regarding a set-up of new companies in Luxembourg. The new initiative is called “111 company” and focuses around trimming the requirements to set up limited entities that need only little investment to start trading. Although a great idea potentially leading to an increase in number of new micro businesses in the Grand Duchy region but most importantly boosting entrepreneurial spirit, as always with new ideas introduced by the government the bill raises questions. In the recent event with Justice Minister Félix BRAZ hosted by AMCHAM Luxembourg number of questions was presented regarding the project.
For more information and details associated with the “new bill” please visit: http://www.wort.lu/en/business/sarl-simplifie-is-the-111-company-enough-to-promote-entrepreneurship-553f524e0c88b46a8ce5838b