The Luxembourg law of 10 July 2020 (the "Trust Register Law") establishing a Luxembourg Register of fiduciary contracts and trusts (the "Trust Register") will enter into force on 17 July 2020.
The Trust Register Law fully implements article 31 of the European Directive (EU) 2015/849, as amended by European Directive (UE) 2018/843, on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. Article 31 of Directive (EU) 2015/849 was in part already transposed by the Law of 10 August 2018 relating to information to be obtained and kept by fiduciaries. In order to avoid two separate laws implementing the same article at the national level, the Law of 10 August 2018 is repealed by the Trust Register Law.
All details here to be prepared:
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