{"id":18304,"date":"2023-08-01T14:44:12","date_gmt":"2023-08-01T12:44:12","guid":{"rendered":"https:\/\/brouxelrabia.lu\/?p=18304"},"modified":"2023-08-01T17:42:23","modified_gmt":"2023-08-01T15:42:23","slug":"on-20-july-2023-the-luxembourg-parliament-has-adopted-a-new-bill-of-law-on-the-right-of-establishment-in-luxembourg-and-on-the-modernisation-of-the-business-licensing-process-autorisation","status":"publish","type":"post","link":"https:\/\/brouxelrabia.lu\/on-20-july-2023-the-luxembourg-parliament-has-adopted-a-new-bill-of-law-on-the-right-of-establishment-in-luxembourg-and-on-the-modernisation-of-the-business-licensing-process-autorisation\/","title":{"rendered":"On 20 July 2023, the Luxembourg Parliament has adopted a new bill of law on the right of establishment in Luxembourg and on the modernisation of the business licensing process (\u201cautorisation d\u2019\u00e9tablissement\u201d)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18304\" class=\"elementor elementor-18304\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7d133251 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"7d133251\" data-element_type=\"section\" 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class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4e89a72f\" data-id=\"4e89a72f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1d17331 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1d17331\" data-element_type=\"section\" 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class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-742f1c8\" data-id=\"742f1c8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9c4a55e elementor-align-left elementor-widget elementor-widget-post-info\" data-id=\"9c4a55e\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/brouxelrabia.lu\/wp-content\/uploads\/elementor\/css\/custom-widget-icon-list.min.css?ver=1714611932\"><link rel=\"stylesheet\" href=\"https:\/\/brouxelrabia.lu\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-theme-elements.min.css\">\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-fde9fb9 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/2023\/08\/01\/\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t<span class=\"elementor-post-info__item-prefix\">Published<\/span>\n\t\t\t\t\t\t\t\t\t\t<time>August 1, 2023<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd8e38a elementor-widget elementor-widget-heading\" data-id=\"bd8e38a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">On 20 July 2023, the Luxembourg Parliament has adopted a new bill of law on the right of establishment in Luxembourg and on the modernisation of the business licensing process (\u201cautorisation d\u2019\u00e9tablissement\u201d) <br><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a19998d elementor-widget elementor-widget-text-editor\" data-id=\"a19998d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>On 20 July 2023, the Luxembourg Parliament has finally adopted the <a href=\"https:\/\/www.chd.lu\/fr\/dossier\/7989\" target=\"_blank\" rel=\"noopener\">draft bill n\u00b0 7989<\/a> after more than a year of negotiations (the \u201c<strong>Modernisation Law<\/strong>\u201d), which amends the law of 2 September 2011 on the access to the professions of craftsman and certain liberal professions \u2013 establishing the legal framework for business license\u2019s application.<\/p><p>The Modernisation Law is scheduled to be published in the Luxembourg official gazette on 28 August 2023 and should thereafter enter into force on 1 September 2023.<\/p><p>The Modernisation law is laying down the foundations for a more fitted and clearer entrepreneurial framework adapted to today&#8217;s and tomorrow&#8217;s practices by inter alia modernising the application\u2019s procedures and creating specific new business licenses. \u00a0<\/p><p>Please find below the key takeaways of the Modernisation Law:<\/p><p style=\"padding-left: 40px;\"><img decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,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\" alt=\"\" width=\"37\" height=\"37\" title=\"\"><strong>Clarification regarding the requirement to hold a business license based on the recurrent performance of activities. <\/strong><\/p><p style=\"padding-left: 40px;\">The Modernisation Law clarifies that a business license is required where the concerned applicant performs an activity falling into the scope of the law <strong><u>on a usual basis<\/u><\/strong>, as opposed to an activity performed on an occasional basis.\u00a0 For the sake of clarity, such precision does not challenge the already existing possibility to combine several types of business licenses, under the conditions of the Modernisation Law.<\/p><p style=\"padding-left: 40px;\"><img decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,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\" alt=\"\" width=\"37\" height=\"37\" title=\"\"><strong>Simplification of the requirements at the level of the business license\u2019s holder.<\/strong><\/p><p style=\"padding-left: 40px;\">It is <strong><u>no longer a requirement for the designated manager to be a shareholder, partner or employee<\/u><\/strong> of the company in order to hold the business license.<\/p><p style=\"padding-left: 40px;\">The former law provided that the designated manager (\u201c<em>dirigeant\u201d<\/em>) had to a be a partner, a shareholder or employee of the company (without any distinction between the type of business). The Modernisation Law introduces a distinction between situations where the activities are carried out by an applicant in his\/her own name, in which case, the applicant will have to be the owner of the business, and situations where the activities are carried out by a company, in which case the designated manager shall be a registered with the Luxembourg Register of Commerce and Companies as a legal representative thereof (e.g. manager, daily manager).<\/p><p style=\"padding-left: 40px;\">The Modernisation Law maintains the requirement of an effective link between the company and its designated manager, who shall still perform the daily management of the company.<\/p><p style=\"padding-left: 40px;\">Such real link shall be demonstrated at least through the fulfillment of the conditions mentioned above, i.e. being the owner of the business if he\/she carries out his activity in his\/her own name or being registered with the <em>Registre de Commerce et des Soci\u00e9t\u00e9s, Luxembourg<\/em> as legal representative of the company (i.e. either as manager or daily manager).<\/p><p style=\"padding-left: 40px;\">Business license holder should in this respect note that any changes made to the data filed with the Luxembourg <em>Registre de Commerce et des Soci\u00e9t\u00e9s de Luxembourg<\/em> will from now on be automatically exchanged with the <em>Direction G\u00e9n\u00e9rale des Classes Moyennes<\/em>. More generally, the Modernisation Law introduces an ongoing exchange between the manager of the commercial register, the manager of the beneficial owners register, the public prosecutor and the ministry of middle-classes.<\/p><p style=\"padding-left: 40px;\"><img decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,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\" alt=\"\" width=\"37\" height=\"38\" title=\"\"><strong>Extension and clarification of the professional repute (\u201c<em>honorabilit\u00e9<\/em>\u201d) conditions.<\/strong><\/p><p style=\"padding-left: 40px;\">As a reminder, not only the person effectively in charge of the daily management but any other <strong><u>person having a significant influence on the management<\/u><\/strong> of the company or <strong>being a majority shareholder<\/strong> thereof, should pass the good repute test.<\/p><p style=\"padding-left: 40px;\">The Modernisation Law introduces repeated failures during at least 6 months to publish mandatory information at the <em>Registre des Ben\u00e9ficiaires Effectifs<\/em>, as an element compromising the professional repute. It furthermore clarifies the disqualifying circumstances pertaining to the failure of filing and publication with the commercial register, by indicating that failure to perform mandatory filings and publications with the commercial register <strong>at least twice during the past 3 years<\/strong>, qualifies as an element compromising the good repute.<\/p><p style=\"padding-left: 40px;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,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\" alt=\"\" width=\"34\" height=\"34\" title=\"\"><strong>Limitation of the number of business licenses granted to a natural person.<\/strong><\/p><p style=\"padding-left: 40px;\">A natural person may not be appointed as business license holder of more than two craft businesses if these businesses are not linked and do not form part of the same group of companies.<\/p><p style=\"padding-left: 40px;\">By way of derogation, a natural person may be appointed as manager of more than two companies if he\/she holds, directly or indirectly, at least 25% of the shares in each of these companies.<\/p><p style=\"padding-left: 40px;\">The Modernisation Law does not affect the well-known \u201cgroup exception\u201d in line with other regulations applicable to the financial sector in particular, whereby activities falling into the scope of the Modernisation Law provided on an intra-group basis do not require a specific business license.<\/p><p style=\"padding-left: 40px;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAAC4AAAAuCAMAAABgZ9sFAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAA\/UExURQAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAALMlgi8AAAAUdFJOUwAQGiAlMDVFS1pgZXB6gIq0yt\/0wbuvSAAAAAlwSFlzAAAXEQAAFxEByibzPwAAAFRJREFUSEvtlDESgCAQA4OoCGpAzf\/f6tnQ2+ptl52tA8cxAsmMiQmJE7KtgJ3cMHRNjlhNP0RJDUUVVQXNVsQlnZi7lhYcpj333PPP5i+Pw\/k3wA11dTChpsjHoQAAAABJRU5ErkJggg==\" alt=\"\" width=\"37\" height=\"37\" title=\"\"><strong>New obligation for companies: two-dimensional barcode\u2019s display.<\/strong><\/p><p style=\"padding-left: 40px;\">The Modernisation Law introduces a <strong><u>two-dimensional barcode<\/u><\/strong> assigned to each business license. The two-dimensional barcode must be displayed in a place accessible to the public <u>on the company site or shop<\/u>.<\/p><p style=\"padding-left: 40px;\">Failure to display the two-dimensional barcode is subject to a fine of between 25 and 250 euros.<\/p><p style=\"padding-left: 40px;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,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\" alt=\"\" width=\"37\" height=\"37\" title=\"\"><strong>Principle of second chance after bankruptcy.<\/strong><\/p><p style=\"padding-left: 40px;\">The Modernisation Law introduces the principle of <strong><u>second chance<\/u><\/strong> after bankruptcy.<\/p><p style=\"padding-left: 40px;\">Indeed, the Minister of Economy following the second chance commission\u2019s consultative opinion, may grant a second business license to (i) a company that uses the services of a former manager, or (ii) a person who has been able to exercise significant influence over the management or administration of the company, or (iii) who held a majority shareholding in the company declared bankrupt, if that person is able to establish that the bankruptcy was directly caused by any of the following reasons:\u00a0<\/p><ul><li style=\"list-style-type: none;\"><ul><li style=\"list-style-type: none;\"><ul><li>a natural disaster recognized as such by the government in council;<\/li><li>an involuntary destruction of the place of production or the production tool;<\/li><li>the loss of a pre-eminent customer;<\/li><li>the loss of a major commissioned work;<\/li><li>a medically certified partial or total incapacity to work of the business license holder;<\/li><li>a pandemic recognized as such by the government in council, or<\/li><li>a loss of profitability following a major market disruption.<\/li><\/ul><\/li><\/ul><\/li><\/ul><p style=\"padding-left: 40px;\">Such change aims in particular at avoiding sanctioning misfortunate entrepreneurs who made wrong management or investments choices, in a difficult business climate. According to the Luxembourg Public Prosecutor&#8217;s Office the majority of the bankruptcies and judicial liquidation decided by the Public Prosecutor are based on breaches of their publications obligations in the Luxembourg <em>Registre de Commerce et des Soci\u00e9t\u00e9s de Luxembourg<\/em> .<\/p><p style=\"padding-left: 40px;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAACYAAAAlCAMAAAAZd2syAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAqUExURQAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAoTzogAAAANdFJOUwAQIDBAUGBwgJ+\/z+\/iD+WbAAAACXBIWXMAABcRAAAXEQHKJvM\/AAAAgklEQVQ4T+XSsQ6AIAxF0RYRFPH\/f9eWvIVITROjg96B1HoGTKS\/FbNRBGjNu1kC0TJ2gxYQ7UEWu5uaLAQMrTusSoHlwLPBZiwoYjFma0qJWI4Fizc+QXOyUjC0TNb3HGPsztXu96XQNW1KJpkY78exumvSUudg6jxMnIuRT30rogNeMRj3CwmQTgAAAABJRU5ErkJggg==\" alt=\"\" width=\"38\" height=\"37\" title=\"\"><strong><u>Introduction of new specific categories of business licenses.<\/u><\/strong><\/p><p style=\"padding-left: 40px;\">The Modernisation Law introduces new categories of business licenses such as for real estate business introducer, or companies offering co-working spaces renting services, to cater recent evolutions in these business areas.<\/p><p style=\"padding-left: 40px;\">The business activity as real estate business introducer is defined as \u201c<em>the commercial activity consisting in the intermediation between a real estate agent or promoter and any other person willing to sell or buy real estate<\/em>\u201d.<\/p><p style=\"padding-left: 40px;\">The disqualifying criteria to the assessment of professional good repute consisting in the failure to comply with anti-money laundering and anti-terrorist financing obligations, or the failure to file tax returns, or in the concealment of the company&#8217;s financial situation from a future director, will hence be applicable to such professionals.<\/p><p style=\"padding-left: 40px;\">However, the fact that the Modernisation Law requires a business license to perform these activities does not result in an automatic application of the law of 12 November 2004 on the fight against money laundering and terrorist financing to the concerned persons, absent a correlate amendment of this latter law.<\/p><p style=\"padding-left: 40px;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAACYAAAAlCAMAAAAZd2syAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAqUExURQAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAoTzogAAAANdFJOUwAQIDBAUGBwgJ+\/z+\/iD+WbAAAACXBIWXMAABcRAAAXEQHKJvM\/AAAAgklEQVQ4T+XSsQ6AIAxF0RYRFPH\/f9eWvIVITROjg96B1HoGTKS\/FbNRBGjNu1kC0TJ2gxYQ7UEWu5uaLAQMrTusSoHlwLPBZiwoYjFma0qJWI4Fizc+QXOyUjC0TNb3HGPsztXu96XQNW1KJpkY78exumvSUudg6jxMnIuRT30rogNeMRj3CwmQTgAAAABJRU5ErkJggg==\" alt=\"\" width=\"39\" height=\"38\" title=\"\"><strong><u>Introduction of new circumstances of business license withdrawal.<\/u><\/strong><\/p><p style=\"padding-left: 40px;\">Business license holders failing to declare a change in the manager\u2019s residence or of the place of business within a month will now face a risk of business license withdrawal.<\/p><p style=\"padding-left: 40px;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" style=\"letter-spacing: 0px;\" src=\"data:image\/png;base64,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\" alt=\"\" width=\"33\" height=\"34\" title=\"\"><strong><u>What\u2019s next?<\/u><\/strong><\/p><p style=\"padding-left: 40px;\">The Modernisation Law should enter into force on 1 September 2023. Business companies and professionals currently holding a business license have <u>a 2-year period<\/u> as from such date to comply with the content of the Modernisation Law.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4fc6953 elementor-widget elementor-widget-text-editor\" data-id=\"4fc6953\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"padding-left: 40px;\"><strong>For more information or assistance on this topic, please do not hesitate to contact us at the following address:\u00a0<a href=\"mailto:welcome@brouxelrabia.lu\">welcome@brouxelrabia.lu<\/a>.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c1f1154 elementor-hidden-desktop elementor-hidden-tablet elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c1f1154\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;4e42ad8&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-487891c\" data-id=\"487891c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f035faf elementor-widget elementor-widget-image\" data-id=\"f035faf\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 08-05-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/our-team\/samia-rabia\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=230%2C230&amp;ssl=1\" class=\"attachment-kava-thumb-s-2 size-kava-thumb-s-2 wp-image-3251\" alt=\"Samia RABIA, Partner Brouxel and Rabia Luxembourg Law Firm\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=230%2C230&amp;ssl=1 230w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=400%2C400&amp;ssl=1 400w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?zoom=2&amp;resize=230%2C230&amp;ssl=1 460w\" sizes=\"(max-width: 230px) 100vw, 230px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Samia RABIA <br> Partner<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-9e30fc4\" data-id=\"9e30fc4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d3e4f97 elementor-widget elementor-widget-image\" data-id=\"d3e4f97\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/our-team\/estelle-nzoungou\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=230%2C230&amp;ssl=1\" class=\"attachment-kava-thumb-s-2 size-kava-thumb-s-2 wp-image-5425\" alt=\"Estelle NZOUNGOU, Senior Associate - Brouxel and Rabia Luxembourg Law Firm\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=230%2C230&amp;ssl=1 230w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=400%2C400&amp;ssl=1 400w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?zoom=2&amp;resize=230%2C230&amp;ssl=1 460w\" sizes=\"(max-width: 230px) 100vw, 230px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Estelle NZOUNGOU <br>Senior Associate<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-d498453\" data-id=\"d498453\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ec1fa9d elementor-widget elementor-widget-image\" data-id=\"ec1fa9d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/our-team\/margot-geisler\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?resize=230%2C230&amp;ssl=1\" class=\"attachment-kava-thumb-s-2 size-kava-thumb-s-2 wp-image-12235\" alt=\"Margot GEISLER Brouxel &amp; Rabia Luxembourg Law Firm\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?w=240&amp;ssl=1 240w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?resize=230%2C230&amp;ssl=1 230w\" sizes=\"(max-width: 230px) 100vw, 230px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Margot GEISLER <br> Associate<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d417f4e elementor-hidden-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d417f4e\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;4f1a8c3&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-a130387\" data-id=\"a130387\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8253103 elementor-widget elementor-widget-image\" data-id=\"8253103\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/our-team\/samia-rabia\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=230%2C230&amp;ssl=1\" class=\"attachment-kava-thumb-s-2 size-kava-thumb-s-2 wp-image-3251\" alt=\"Samia RABIA, Partner Brouxel and Rabia Luxembourg Law Firm\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=230%2C230&amp;ssl=1 230w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?resize=400%2C400&amp;ssl=1 400w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/sam-team.jpg?zoom=2&amp;resize=230%2C230&amp;ssl=1 460w\" sizes=\"(max-width: 230px) 100vw, 230px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Samia RABIA <br> Partner<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-b6f4f28\" data-id=\"b6f4f28\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2a2e48b elementor-widget elementor-widget-image\" data-id=\"2a2e48b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/our-team\/Estelle-NZOUNGOU\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=230%2C230&amp;ssl=1\" class=\"attachment-kava-thumb-s-2 size-kava-thumb-s-2 wp-image-5425\" alt=\"Estelle NZOUNGOU, Senior Associate - Brouxel and Rabia Luxembourg Law Firm\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=230%2C230&amp;ssl=1 230w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?resize=400%2C400&amp;ssl=1 400w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2021\/12\/6e1b6456-9320-46a9-99aa-1395330f95da.jpg?zoom=2&amp;resize=230%2C230&amp;ssl=1 460w\" sizes=\"(max-width: 230px) 100vw, 230px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Estelle NZOUNGOU <br> Senior Associate<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-14929ff\" data-id=\"14929ff\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a456d57 elementor-widget elementor-widget-image\" data-id=\"a456d57\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t<figure class=\"wp-caption\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/our-team\/margot-geisler\/\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"230\" height=\"230\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?resize=230%2C230&amp;ssl=1\" class=\"attachment-kava-thumb-s-2 size-kava-thumb-s-2 wp-image-12235\" alt=\"Margot GEISLER Brouxel &amp; Rabia Luxembourg Law Firm\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?w=240&amp;ssl=1 240w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2022\/07\/Margot-GEISLER-e1657014466540.png?resize=230%2C230&amp;ssl=1 230w\" sizes=\"(max-width: 230px) 100vw, 230px\" title=\"\">\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<figcaption class=\"widget-image-caption wp-caption-text\">Margot GEISLER <br> Associate<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-42b13ac elementor-hidden-tablet elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"42b13ac\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;4f1a8c3&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1eebeae\" data-id=\"1eebeae\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-724a749d elementor-hidden-tablet elementor-hidden-mobile elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"724a749d\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;_id&quot;:&quot;7e89468&quot;,&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-custom\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-25b72ade\" data-id=\"25b72ade\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e1f8524 elementor-post-navigation-borders-yes elementor-widget elementor-widget-post-navigation\" data-id=\"2e1f8524\" data-element_type=\"widget\" data-widget_type=\"post-navigation.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-post-navigation\">\n\t\t\t<div class=\"elementor-post-navigation__prev elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/luxembourg-national-mechanism-for-the-screening-of-foreign-direct-investments\/\" rel=\"prev\"><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-prev\"><i class=\"fa fa-angle-double-left\" aria-hidden=\"true\"><\/i><span class=\"elementor-screen-only\">Prev<\/span><\/span><span class=\"elementor-post-navigation__link__prev\"><span class=\"post-navigation__prev--label\">Previous Post<\/span><span class=\"post-navigation__prev--title\">Luxembourg established its national mechanism for the screening of foreign direct investments on the grounds of security or public order<\/span><\/span><\/a>\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation__separator-wrapper\">\n\t\t\t\t\t<div class=\"elementor-post-navigation__separator\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"elementor-post-navigation__next elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/new-bill-of-law-reforming-and-modernising-luxembourg-accounting-legal-framework\/\" rel=\"next\"><span class=\"elementor-post-navigation__link__next\"><span class=\"post-navigation__next--label\">Next Post<\/span><span class=\"post-navigation__next--title\">New Bill of Law reforming and modernising Luxembourg accounting legal framework<\/span><\/span><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-next\"><i class=\"fa fa-angle-double-right\" aria-hidden=\"true\"><\/i><span class=\"elementor-screen-only\">Next<\/span><\/span><\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-de036a8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"de036a8\" data-element_type=\"section\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[{&quot;jet_parallax_layout_image&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;_id&quot;:&quot;e479c73&quot;,&quot;jet_parallax_layout_image_tablet&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_image_mobile&quot;:{&quot;url&quot;:&quot;&quot;,&quot;id&quot;:&quot;&quot;,&quot;size&quot;:&quot;&quot;},&quot;jet_parallax_layout_speed&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:50,&quot;sizes&quot;:[]},&quot;jet_parallax_layout_type&quot;:&quot;scroll&quot;,&quot;jet_parallax_layout_direction&quot;:null,&quot;jet_parallax_layout_fx_direction&quot;:null,&quot;jet_parallax_layout_z_index&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x&quot;:50,&quot;jet_parallax_layout_bg_x_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_x_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y&quot;:50,&quot;jet_parallax_layout_bg_y_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_y_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size&quot;:&quot;auto&quot;,&quot;jet_parallax_layout_bg_size_tablet&quot;:&quot;&quot;,&quot;jet_parallax_layout_bg_size_mobile&quot;:&quot;&quot;,&quot;jet_parallax_layout_animation_prop&quot;:&quot;transform&quot;,&quot;jet_parallax_layout_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;]}]}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4d1c8ae\" data-id=\"4d1c8ae\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8f6e560 elementor-grid-1 elementor-hidden-desktop elementor-hidden-tablet elementor-grid-tablet-2 elementor-grid-mobile-1 elementor-posts--thumbnail-top elementor-widget elementor-widget-posts\" data-id=\"8f6e560\" data-element_type=\"widget\" data-settings=\"{&quot;classic_columns&quot;:&quot;1&quot;,&quot;pagination_type&quot;:&quot;numbers_and_prev_next&quot;,&quot;classic_columns_tablet&quot;:&quot;2&quot;,&quot;classic_columns_mobile&quot;:&quot;1&quot;,&quot;classic_row_gap&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:35,&quot;sizes&quot;:[]},&quot;classic_row_gap_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;classic_row_gap_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"posts.classic\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/brouxelrabia.lu\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-posts.min.css\">\t\t<div class=\"elementor-posts-container elementor-posts elementor-posts--skin-classic elementor-grid\">\n\t\t\t\t<article class=\"elementor-post elementor-grid-item post-19529 post type-post status-publish format-standard has-post-thumbnail hentry category-regulations category-finance tag-banking tag-delia-nitescu tag-finance tag-regulatory\">\n\t\t\t\t<a class=\"elementor-post__thumbnail__link\" href=\"https:\/\/brouxelrabia.lu\/upcoming-implementation-of-luxembourgs-new-legal-framework-to-tackle-non-performing-loans\/\" tabindex=\"-1\">\n\t\t\t<div class=\"elementor-post__thumbnail\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"276\" src=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?fit=768%2C276&amp;ssl=1\" class=\"attachment-medium_large size-medium_large wp-image-19465\" alt=\"\" title=\"\" srcset=\"https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?w=2560&amp;ssl=1 2560w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?resize=300%2C108&amp;ssl=1 300w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?resize=1024%2C369&amp;ssl=1 1024w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?resize=768%2C276&amp;ssl=1 768w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?resize=1536%2C553&amp;ssl=1 1536w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?resize=2048%2C737&amp;ssl=1 2048w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?resize=600%2C216&amp;ssl=1 600w, https:\/\/i0.wp.com\/brouxelrabia.lu\/wp-content\/uploads\/2024\/04\/AdobeStock_661332697-scaled.jpeg?w=2400&amp;ssl=1 2400w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n\t\t<\/a>\n\t\t\t\t<div class=\"elementor-post__text\">\n\t\t\t\t<h3 class=\"elementor-post__title\">\n\t\t\t<a href=\"https:\/\/brouxelrabia.lu\/upcoming-implementation-of-luxembourgs-new-legal-framework-to-tackle-non-performing-loans\/\">\n\t\t\t\tUpcoming Implementation of Luxembourg&#8217;s New Legal Framework to Tackle Non-Performing Loans\t\t\t<\/a>\n\t\t<\/h3>\n\t\t\t\t<div class=\"elementor-post__meta-data\">\n\t\t\t\t\t<span class=\"elementor-post-date\">\n\t\t\tApril 29, 2024\t\t<\/span>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-post__excerpt\">\n\t\t\t<p>The Luxembourg Chamber of Commerce has paved the way for progress with their recent opinions, and now, the much-anticipated Bill of Law N\u00b08185 regarding the transfer of non-performing loans is on the verge of adoption&#8230;<\/p>\n\t\t<\/div>\n\t\t\n\t\t<a class=\"elementor-post__read-more\" href=\"https:\/\/brouxelrabia.lu\/upcoming-implementation-of-luxembourgs-new-legal-framework-to-tackle-non-performing-loans\/\" aria-label=\"Read more about Upcoming Implementation of Luxembourg&#8217;s New Legal Framework to Tackle Non-Performing Loans\" tabindex=\"-1\" target=\"_blank\">\n\t\t\tRead More \u00bb\t\t<\/a>\n\n\t\t\t\t<\/div>\n\t\t\t\t<\/article>\n\t\t\t\t<\/div>\n\t\t\n\t\t\t\t<div class=\"e-load-more-anchor\" data-page=\"1\" data-max-page=\"66\" data-next-page=\"https:\/\/brouxelrabia.lu\/wp-json\/wp\/v2\/posts\/18304\/page\/2\/\"><\/div>\n\t\t\t\t<nav class=\"elementor-pagination\" aria-label=\"Pagination\">\n\t\t\t<span class=\"page-numbers prev\">&laquo; Previous<\/span>\n<span aria-current=\"page\" class=\"page-numbers current\"><span class=\"elementor-screen-only\">Page<\/span>1<\/span>\n<a class=\"page-numbers\" href=\"https:\/\/brouxelrabia.lu\/wp-json\/wp\/v2\/posts\/18304\/page\/2\/\"><span class=\"elementor-screen-only\">Page<\/span>2<\/a>\n<a class=\"page-numbers\" href=\"https:\/\/brouxelrabia.lu\/wp-json\/wp\/v2\/posts\/18304\/page\/3\/\"><span class=\"elementor-screen-only\">Page<\/span>3<\/a>\n<span class=\"page-numbers dots\">&hellip;<\/span>\n<a class=\"page-numbers\" 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