The government of Luxembourg submitted a bill number 6777, which brings changes to the law of the Grand Duchy “On commercial companies” of 1915.
The bill proposes a new company organization form – “S.à r.l.-S” – a simplified private limited liability company (Société à responsabilité limitée Simplifiée).
The main features of the new form, according to the bill №6777, are:
- The company may only be established by a natural person(s) for a defined or undefined period of time;
- Authorized capital of the company may be from 1 to 12 394.68 euros;
- The company may be managed only by natural persons.
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