The rules change. You don’t have to keep up with them.

That is our job. Regulation tracked day by day, digital tools, the rigour of a member firm of the Ordre des Experts-Comptables: CREW Luxembourg takes care of the obligations of investment structures, family offices and entrepreneurs, so that what you have built stays in good hands.

Consider it done.

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The firm

On the ground in Luxembourg. Exacting everywhere.

Offices in Luxembourg, a team you know by name, and accounts that make sense all year round.

Your accounts can be viewed at any time on Odoo, not just at closing. Every file is prepared by our production team in Oran, then reviewed and validated in Luxembourg by chartered accountants. Two teams, one quality standard, and a rigour inherited from Big Four backgrounds.

The firm in brief

Status: Independent fiduciary
Based in: Luxembourg-Hollerich
Chartered accountants: Three
Files handled in: French, German, Italian, English and Arabic
Staff in Luxembourg: 4
Staff in Oran: 5
Clients served worldwide: 50+

Services

Full management of your Luxembourg obligations.

One firm, full scope

Incorporation, domiciliation, accounting, VAT and tax filings, compliance: one team handles the entire lifecycle of your structure. No handovers between providers, and no gaps between them either.
Books you can actually see

Our clients access their accounting all year round on Odoo: every entry, every supporting document, in real time. Questions get asked in March, not discovered in December.
Entered once, all the way to the authorities

The entry posted in Odoo feeds directly into the annual accounts, tax returns and legal documents. No re-keying, no reprocessing from one tool to the next: the data that goes in is the data that gets filed. That is rarer than you might think, even among some of the major players in the Luxembourg market.
Wealth, succession, relocation.

For families: structuring and administering wealth for the long term, preparing its handover to the next generation and managing a move to Luxembourg from start to finish, coordinating tax, legal and administrative matters from one country to another. We have done it before, for a French family as well as for a Mexican-Brazilian one, and we know the routes for relocating to Luxembourg well. In French, German, English and Arabic.

Three team members review a file at a workstation.

Structures

Luxembourg legal structures

Two questions, in this order. First, the company form: S.à r.l., SA or SCSp. Then, the regime it opts into: SOPARFI, SPF or securitisation. A SOPARFI or an SPF is not a company form; it is a regime that applies to an S.à r.l. or an SA. We help you choose the right one, incorporate it, then run it.

1. The company form

Minimum capital
€12,000, fully paid up on incorporation, in cash or in kind

Shareholders
One (single-shareholder S.à r.l.) or several, up to 100, individuals or legal entities

Management
One or more managers, who need not be shareholders

Suited to
SMEs, commercial or craft businesses, family or entrepreneurial companies
Compared with an SA, governance is simpler and less formal.

Incorporation steps

Drafting the articles of association. They set out how the company operates: corporate object, registered office, allocation of shares, management rules. Careful drafting prevents many disputes between shareholders.

Depositing the capital with a Luxembourg bank, which issues a certificate of deposit.

Notarial deed. As for an SA, the notary checks compliance and formalises the creation of the company.

Registration with the Trade and Companies Register (RCS), which gives the company its legal personality.

Publication of an extract of the articles in the Electronic Compendium of Companies and Associations (RESA), which makes the company official and enforceable against third parties.

The S.à r.l. in detail
Minimum capital
€30,000, contributed in cash or in kind

Shareholders
One (single-shareholder SA) or several, individuals or legal entities

Board
A board of directors with at least 3 members, or a sole director where there is only one shareholder

Audit
Mandatory appointment of a statutory auditor
The capital of an SA is divided into shares, and shareholders’ liability is limited to their contributions.

Used for

large commercial businesses;

holding companies;

businesses planning to bring in investors.

Discretion

Share ownership is recorded in an internal register, which is not published.

The SA in detail
Minimum capital
None. Contributions in cash, in kind or in services, freely defined by the partnership agreement

Partners
At least two: a general partner, with unlimited joint and several liability, and one or more limited partners, liable up to the amount of their contributions

Management
One or more managers, who need not be partners, appointed under the partnership agreement. In practice, the general partner — often a dedicated S.à r.l., the ‘GP’

Audit
No mandatory statutory audit. An approved statutory auditor is required if the SCSp is an AIF managed by an authorised AIFM, a RAIF or a SIF
The SCSp has no legal personality separate from that of its partners. The partnership agreement freely organises contributions, profit allocation, distributions and governance. It can be formed by private deed, without having to go before a notary.

Used for

private equity, debt and real estate funds;

co-investment and carried interest vehicles;

wealth and family office structures.

Taxation

Transparent: no corporate income tax or net wealth tax at the level of the SCSp, as income is taxed in the hands of the partners. Municipal business tax applies only where there is a commercial activity.

Discretion

Only an extract of the partnership agreement is published in the RESA. The identity of the limited partners is not made public.

2. The regime

Participation exemption
A shareholding of at least 10%, or an investment of at least €1.2m (dividends) or €6m (capital gains), held for at least 12 months

Taxes
Corporate income tax (CIT), municipal business tax (MBT), net wealth tax (NWT)

Combined effective rate
Around 23.87% in Luxembourg City, on the highest profits, since the 2025 financial year: corporate income tax has been reduced from 17% to 16%

Tax treaties
More than 80 countries
Where these conditions are met, dividends and capital gains can be fully exempt in Luxembourg. The SOPARFI also benefits from the tax treaty network and can apply the EU Parent-Subsidiary Directive.

Asset protection

A Luxembourg holding company makes it possible to ring-fence strategic assets (shareholdings, intellectual property, real estate held through subsidiaries) from the operational risks of the operating companies. In the form of an SA or an S.à r.l., shareholders’ liability is strictly limited to their contribution.

Common uses

receiving or granting financing;

raising capital to invest;

issuing bonds or debt securities;

being listed in Luxembourg;

investing in intellectual property.

The SOPARFI in detail
Legal framework
Law of 11 May 2007, amended in particular by the law of 20 December 2024; the 1915 law on commercial companies also applies

Permitted forms
S.à r.l., SA, SCA, or cooperative company organised as an SA

Subscription tax
0.25% a year, with a minimum of €1,000 (since 1 January 2025) and a cap of €125,000

Tax base
Paid-up capital and share premium, plus the portion of debt exceeding eight times that amount

Other taxes
Exempt from CIT, MBT and net wealth tax; outside the scope of VAT
An unregulated vehicle, incorporated by notarial deed in Luxembourg without any specific licence. Its object is limited to the acquisition, holding, management and disposal of financial assets; any commercial or industrial activity is prohibited.

Eligible investors

individuals managing their private wealth;

wealth management entities acting exclusively in the interest of the private wealth of one or more individuals (family offices, trusts, private foundations);

intermediaries acting on behalf of eligible investors.

No family relationship is required between shareholders. Each investor signs a written declaration of eligibility.

What is excluded

involvement in the management of its subsidiaries;

granting interest-bearing loans, even to its subsidiaries;

acquiring real estate directly or, since 1 July 2021, holding companies (SCI, SNC) that own real estate;

offering its securities to the public or listing them on a stock exchange.

The SPF in detail
Legal framework
Law of 22 March 2004, amended in particular by the law of 25 February 2022; the 1915 law on commercial companies applies to securitisation companies

Permitted forms
Securitisation company (SA, S.à r.l., SCA, cooperative company, SNC, SCS or SCSp) or securitisation fund without legal personality, managed by a management company

Tax on profits
CIT and MBT at the standard rate, but commitments to investors, including distributions, are deductible: in practice, the taxable base is limited to a margin

Interest limitation
ATAD rule applies: exceeding borrowing costs deductible up to 30% of EBITDA or €3m, except for securitisations that comply with the EU regulation

Other taxes
Exempt from net wealth tax, except for the minimum tax; no withholding tax on distributions; management services exempt from VAT. The securitisation fund is tax transparent
A regime that is unregulated by default and applies to any entity whose purpose is securitisation: acquiring or assuming risks, then financing them by issuing securities or, since 2022, by borrowing, whose value or yield depends on those risks.

Eligible risks

receivables, loans and financial securities;

movable or immovable property, tangible or intangible;

risks linked to the obligations or activities of third parties;

since 2022, actively managed debt portfolios, provided the securities are not offered to the public.

Each compartment is ring-fenced by law. Limited recourse, non-recourse and subordination clauses are enforceable against investors and creditors.

What is excluded

issuing securities to the public on a continuous basis without CSSF authorisation;

bearing its own entrepreneurial risk: the vehicle transforms risks, it does not generate them;

actively managing any portfolio other than a debt portfolio;

using the assets of one compartment to pay off the creditors of another.

Method

From Odoo to the authorities.

Books kept on Odoo; financial statements, eCDF filings, legal documents and tax returns produced with Camele’on. One chain, no re-keying.

The life cycle of a file, from start to finish:

01Client onboarding
02Working papers
03Dedicated Odoo environment
04Accounting and VAT returns
05Annual accounts, tax and legal filings

On top of this come the corporate secretarial services that mark a company’s life, from general meetings to filings with the Trade and Companies Register.

Our tools

eCDF
LuxGAAP
eCDF
LuxGAAP

Team

The CREW

Every file follows the same path: prepared in Oran, reviewed and validated in Luxembourg.

Luxembourg · Hollerich

Review, validation and sign-off

Nothing goes out to a client without passing through Luxembourg. The firm’s senior team take over the prepared file, check it and sign it off: this is where professional responsibility rests, answerable to the Ordre des Experts-Comptables and to you.

François Ball

Founder · Chartered Accountant

Trained in audit at PwC Luxembourg within German-speaking teams (private equity funds, RAIFs, securitisation vehicles), then in financial control at Oaktree Capital Management, where he oversaw SPV reporting across real estate, private equity and distressed debt.

He studied in Luxembourg, Shanghai (Tongji University), Paris and Berlin, and is a member of the Ordre des Experts-Comptables. He also founded the firm’s administrative centre, which he opened at the age of 27.

Working languagesFR · DE · EN

Patrice Gallasin

Founder · Chartered Accountant

A tax and corporate lawyer by training (Master in Law, University of Reims; MBA, ESC Reims), Patrice began at Benelux Trust (Luxembourg) as Legal Counsel and Head of Accounting, then led accounting at P.A.L. Services before taking over as Managing Director of ONE Luxembourg in 2009.

Twenty-five years of Luxembourg fiduciary practice, with a focus on international corporate structures. Member of the Ordre des Experts-Comptables.

Working languagesFR · IT · EN

David Portela

Chartered Accountant

A graduate in accounting and management from HENALLUX (Belgium) and holder of the chartered accountant (Expert-Comptable) certificate, David has six years of experience in the Luxembourg fiduciary sector.

His experience centres on accounting, tax and VAT, notably supporting Luxembourg structures dedicated to real estate investment across Europe.

Working languagesFR · EN · LU · DE · PT · ES

Oran · administrative centre

File preparation

Ahead of the Luxembourg review, five El Bahia Partners accountants work from the firm’s operational hub in Oran as a remote extension of Luxembourg fiduciary teams. They prepare the accounting, VAT, tax returns and working papers, using the same structure and the same controls as in Luxembourg. The centre was founded and organised by François Ball. Both teams work in the same Odoo instance, on the same file.

The centre in brief

Based in: Oran, Algeria
Prepares: Accounting, VAT, tax returns, working papers
Working languages: French, English, Arabic and Darija
Staff: 5

Amir Ouksili

Accountant

Amir manages a portfolio of liberal profession clients, with a particular focus on medical practices. He covers the full cycle, from bookkeeping and bank reconciliations to Lux GAAP annual accounts and tax returns. He also supports holding companies, handles VAT compliance for commercial companies and assists with RCS corporate secretarial matters.

Known for his rigour and attention to detail, he uses Odoo and Camele’on to streamline financial processes and safeguard data integrity, so that clients receive dependable reporting and remain fully compliant.