1. It is no longer required that the business license holder is a shareholder, partner or employee of the company
The Bill allows the business license holder to be registered as a representative (mandataire) of the company with the Luxembourg Trade and Companies Register (Registre de Commerce et de Sociétés) without the need to be a shareholder or employee. The business license holder will need to be regularly physically present at the work premises to ensure that he/she can effectively carry out the necessary daily management.
2. Business license holders may benefit from the ‘second chance principle’ following a bankruptcy
The ‘second chance principle’ enables some business license holders to undertake a second business activity after having experienced a bankruptcy in a former business.
3. Business licenses will be issued digitally
The Bill modernises the application procedure via a dedicated online portal. Business licenses will be available online for public consultation. Furthermore, each business license will be assigned a two-dimensional barcode which must be displayed in a place that is accessible to the public.
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