What is the legal system in the Grand-Duchy of Luxembourg based on?

 

The legal system of the Grand-Duchy of Luxembourg (“Luxembourg”) is based on written civil law inspired by the French Napoleonian civil code inherited from the Roman civil law tradition. Companies are governed by the law of 10 August 1915, as amended (the “Company Law”), which was heavily inspired from the liberal Belgian corporate legislation. Although amendments have been made over time to keep corporate law in line with Luxembourg’s economic development, the legislature has been able to maintain a great amount of flexibility in respect of EU standards.