Five law firms topped the list in the Luxembourg edition of Chambers Global Legal Guide 2023, which showcases leading lawyers and law firms, with Allen & Overy and Arendt & Medernach taking the lead in all four categories. The highly regarded guide, published on Thursday 20 July 2023, by Chambers and Partners, a London-based legal rankings and research company, identifies and ranks top law firms and lawyers worldwide.
Speaking to Delano, Simon Christian, the global research director at Chambers and Partners, emphasised the significance of Luxembourg as an important jurisdiction for international private wealth, with numerous high net worth families from Europe and Latin America utilising the country for establishing family investment funds, companies for wealth planning and succession, or philanthropic foundations.
Christian further highlighted the adoption of the common reporting standard and foreign account tax compliance act rules by Luxembourg, which has led to an increased focus on international tax compliance and reporting in recent submissions from law firms in the country.
“We have also seen rising interest in securing Luxembourg nationality from international ultra-wealthy clients in recent years, and we expect this trend to continue,” claimed Christian.
He added, “Arendt & Medernach is the only firm to have been ranked in our Private Wealth Law category in every guide since 2016, although Elvinger Hoss Prussen has been listed each year since 2017.”
Arendt & Medernach is the only firm to have been ranked in our Private Wealth Law category in every guide since 2016.
The guide assigns a ‘band 1’ ranking, the highest in Chamber’s ranking system, ranging from one to six.
The Luxembourg law firms that achieved band 1 status in the four different categories are Allen & Overy, Arendt & Medernach, Clifford Chance and Elvinger Hoss Prussen in International & Cross-Border Capabilities; Allen & Overy, Arendt & Medernach and Linklaters in Banking & Finance; Allen & Overy, Arendt & Medernach and Elvinger Hoss Prussen in Corporate/M&A; and Allen & Overy, Arendt & Medernach, Clifford Chance and Elvinger Hoss Prussen in Investment Funds.
Chambers’ coverage of the Luxembourg market has expanded over the years, currently featuring rankings for 11 lawyers specialising in Private Wealth Law, up from just five in 2018.
“This reflects the growing importance of private wealth work to the Luxembourgish legal profession,” concluded Christian.
The Chambers High Net Worth 2023 is available here.
Updated Friday 21 July at 10:45 to correct the list of law firms in band 1