Combining ‘deep local tax expertise with cross-border experience’, A&O Shearman excels in handling high-stakes mandates, particularly for asset management firms attempting to establish the most tax efficient regulated and unregulated Luxembourg fund structures. Patrick Mischo, who is ‘incredibly knowledgeable about the funds industry’, excels at advising on this work, effectively drawing upon practitioners from other practice groups, including investment management and regulatory, to good effect. Mischo also provides tax advice on the Luxembourg aspects of international restructuring mandates, as well as on tax structured finance schemes. Delivering ‘advice that balances compliance with innovation’, Jean Schaffner, who co-heads the team alongside Mischo, also handles funds work, both on the structuring side and on the pursuant downstream investments. Other key contacts include the ‘very well informed and technical’ Franz Kerger, whose eclectic mix of work includes tax controversy matters, and the ‘commercially driven’ Johanna Tschurtschenthaler, who is developing a very strong reputation for her tax advice on international fund setups.

With exceptional insight into the local regulatory/legislative framework, as well as having a ‘deep understanding of international tax law’ and an integrated offering across the firm’s vast international network, Baker McKenzie is a popular choice among corporates, private clients, funds and banks to advise across a myriad of domestic and cross-border matters. Diogo Duarte de Oliveira provides ‘forward-thinking solutions in international taxation’, and is particularly skilled at advising funds and family offices on the structuring of cross-border investment platforms. Olivier Dal Farra has a focus on private client work, and excels at providing ‘solutions-oriented’ advice. Praised for his ability to ‘think outside-of-the-box’, Antonio Weffer is a market leader for transfer pricing work, and alongside Amar Hamouche, who has a focus on tax advice to US multinationals, co-heads the team alongside Dal Farra and de Oliveira.

Drawing upon significant ‘technical excellence and strategic insight’, BSP provides ‘user-friendly’ advice to international and domestic clients across a range of transactional, compliance, and litigation matters. Managing partner Alain Steichen maintains strong market visibility across all aspects of the practice. ‘Very quick thinker’ Daniel Riedel is knowledgeable across domestic and international tax matters, including advising on the tax structuring pursuant to many fund-led infrastructure projects. The ‘outstanding’ Pol Mellina handles tax structuring associated with fund set-ups and transactions, while on the litigation front continues to represent the Luxembourg VAT authorities in various VAT litigation matters.

The ‘very knowledgeable and experienced’ team at Clifford Chance provides a ‘great mix of technical expertise and commercial awareness’ for clients seeking tax structuring advice pursuant to corporate, financing, investment and real estate transactions. Team head Geoffrey Scardoni is appreciated for his ability to ‘think outside-the-box’ and is at the forefront of the most significant mandates handled by the team, including his ongoing work for the Luxembourg VAT authorities in cases brought against it. In addition, Scardoni works very collaboratively with lawyers across the firm’s global network on high level alternative fund structuring matters and on complex financing transactions.

The ‘responsive and business-oriented’ team at Loyens & Loeff delivers ‘high-quality technical knowledge’ for large alternative funds and Luxembourg-based multinational corporates across the broad swathe of their compliance, structuring and transactional work. Often working closely with M&A, finance and fund structuring lawyers, the team is particularly well-known for its tax structuring work for large private equity sponsors and real estate funds. Newly promoted partner Tom Hamen has been very active on this front, both on new money deals including share and asset real estate transactions, and distressed/restructuring work. Hamen also handles some private client-related tax matters, as does the vastly experienced Peter Adriaansen. Adriaansen additionally provides advice to Luxembourg-based multinationals, including as it relates to Pillar 2 implications. Transfer pricing expert Peter Moons co-heads the team alongside Adriaansen. Also key are the ‘knowledgeable and client focused’ Pierre-Antoine Klethi, and Aline Nunes, whose international tax advisory offering includes a considerable amount of work for Brazilian clients.

The ‘exceptional’ team at independent business law boutique TS&P provides ‘practical and robust advice’ directly to clients, as well as in a referral capacity from international law firms, across a range of structuring and tax compliance matters. Under the guidance of ‘very intelligent and personable’ team head André Pesch, the practice has, in the relatively short time since its establishment in 2018, gained particular traction among alternative funds, helping them to establish tax efficient structures and to subsequently advise on pursuant investment mandates. ‘Rising star’ Romain Jacques and the ‘outstanding’ Emilie Mattos are also key contacts for funds-related tax structuring work, with Mattos also noted for her compliance expertise on key new legislative changes in the market, including as it relates to the Anti-Tax Avoidance Directive (ATAD) and DAC 6 measures. François Antoine and Carlos Morales Ribas are also recommended for VAT and transfer pricing matters, respectively.

The ‘savvy and very responsive’ team at Charles Russell Speechlys provides ‘innovative solutions’ to ultra-high-net-worth individuals and family offices across a range of Luxembourg and international tax structuring and compliance issues. ‘Very experienced and commercial’ team head Yacine Diallo has been pivotal to the firm’s success in the family capital space, as well as continuing to grow the firm’s standing among institutional fund clients, including on the tax structuring associated with sponsor-backed M&A mandates. The ‘outstanding’ David Córdova Flores is also very adept at advising on international tax structuring, adding particular value to clients from Spain and Latin America using Luxembourg as a gateway to structure their investments globally. The ‘thorough yet agile’ Alexis Urbin-Choffray excels at advising on tax-related matters regarding private equity transactions, corporate reorganisations, and investment fund structures.

Combining ‘deep technical expertise with a strong understanding of cross-border tax matters’, CMS Luxembourg is particularly adept at handling work for clients with multinational operations and/or complex international structures. This manifests itself across a range of cross-border mandates, including on the tax structuring associated with M&A transactions, as well as structured finance and corporate restructuring matters, where the team regularly works collaboratively with lawyers from throughout the firm’s international network. Team head Frédéric Feyten ‘always finds creative solutions’ for funds/banks and corporates, as well as excelling in handling family office tax structuring. Alejandro Dominguez has ‘excellent technical knowledge’ on transactional work, as well as on compliance matters, including for financial institutions on exchange of information rules.

Combining ‘local insight’ with an ‘international mindset’, Dentons excels at providing tax structuring to multinational corporates, funds and financial institutions seeking to navigate multi-jurisdictional challenges. The team, which is led by the vastly experienced Jean-Luc Fisch provides ‘pragmatic and commercially oriented solutions’ which are aligned to each specific client needs.

DLA Piper Luxembourg provides ‘solid and practical advice’ to a fund-focused client base, assisting with both their upstream and downstream work. ‘Responsive, knowledgeable and pragmatic’ team head Luis Muñoz has strong ties among mid-sized fund managers and regularly handles the Luxembourg-related tax structuring associated with private equity and real estate funds – often working closely with other lawyers throughout the firm’s international network. As global co-chair of the firm’s tax group, the ‘knowledgeable, commercial and client-oriented’ Jacques Wantz has excellent insight into international tax matters, which he utilises to good effect on cross-border structuring mandates. Michal Stepien heads up the office’s relatively newly established transfer pricing offering following his recruitment from a Big 4 firm in May 2024.

Elvinger Hoss Prussen provides ‘high level technical services’ to corporates and asset management firms, in particular, on the relevant tax efficient structuring of their investments. Appreciated for her ‘down-to-earth attitude and practical mindset’, team head Elisabeth Adam is particularly skilled at advising on the Luxembourg and international tax law implications for fund clients, where she is often assisted by Nadège Le Gouellec.

Melding ‘deep local expertise with a global mindset’, Eversheds Sutherland (Luxembourg) LLP excels in supporting firm-wide international clients on the tax structuring elements associated with complex cross-border mandates. The team also handles work for corporates and financial institutions, including asset management mandates, relating to both fund set-up and subsequent investment work. Team head Rafael Moll de Alba has ‘deep technical knowledge of Luxembourg structures’, which he implements to good effect on the fund structuring work and also benefits from extensive cross-border expertise for Spanish and Latin American clients, including within the high-net-worth private client space.

Often working collaboratively alongside corporate, banking, and funds lawyers, as well as key offices across the international network, Hogan Lovells (Luxembourg) LLP excels in advising on the tax structuring associated with cross-border transactions handled by corporate, asset management, and banking clients. ‘Brilliant’ team head Gérard Neiens is key to this work and excels at advising on fund formations and on subsequent acquisitions/exits, as well as on complex securitisation transactions.

Often working in a cross-office, multidisciplinary fashion, the ‘highly knowledgeable and responsive’ team at Linklaters provides ‘creative, yet pragmatic solutions’ to institutional firm-wide clients on the Luxembourg-related tax structuring aspects associated with a myriad multi-jurisdictional matters. The alternative funds space remains a very fertile source of work, with ‘very proactive and knowledgeable’ team head Joakim-Antoine Charvet excelling in handling tax-related matters for private equity funds, running the gamut from advice on M&A matters, portfolio restructuring, and JV structuring. Danièle Buchler is also very active within the private capital sphere and also often handles the tax aspects of share and asset real estate transactions.

Closely integrated alongside other core firm-wide practice groups, including corporate, funds, and finance, NautaDutilh‘s tax team provides transactional and advisory support to corporates and investment funds utilising a Luxembourg investment vehicle to facilitate their cross-border transactions. Team head Jean-Marc Groelly is very adept at advising private equity and hedge funds on tax structuring associated with their fund set-ups and subsequent investment activity. In addition, he also has a key involvement in many of the firm’s creditor-based restructuring roles. Audrey Derep also handles tax structuring work, including as it relates to transfer pricing implications, and is well-versed at handling compliance work.

Combining ‘deep technical expertise with a pragmatic and commercial mindset’, Norton Rose Fulbright is particularly skilled at providing the Luxembourg tax structuring pursuant to cross-border transactions. In this context, the team often works alongside local M&A, funds and/or finance lawyers, as well as practitioners in other key international offices at the firm. ‘Outstanding’ team head Florent Trouiller is at the forefront of the most consequential tax work handled by the team and is particularly adept at advising fund managers on their downstream and upstream work within the private equity and real estate space.

Stibbe combines ‘deep technical expertise with a sharp commercial mindset’ for an international client base, which benefits from the group's cross-border expertise. Much of this is on behalf of alternative investment funds, where the firm has developed a particularly strong reputation among US-based asset managers. Team head Johan Léonard provides ‘calm, solutions-driven’ structuring and transactional advice to private equity funds, among others.

Under the leadership of the ‘pragmatic and responsive’ Alexandra Clouté, Ashurst is best-known for its ability to advise on the domestic and international tax aspects of complex fund structuring and cross-border financing mandates. Clouté, who regularly works alongside colleagues throughout Europe, is very well-versed at advising on private equity, debt, and real estate investments and is appreciated for her very broad expertise spanning jurisdictions relevant to the set-up of funds in Luxembourg.

Acting on its own as well as regularly working alongside key offices in Europe and the US, Dechert Luxembourg excels in advising the firm’s impressive roster of private funds clients on the relevant local and international tax advice pursuant to the initial fund set-up and the subsequent investments. ‘Technically excellent’ team head Olivier Gaston-Braud delivers ‘pragmatic solutions’ for funds, both on new money deals and as creditors in major international restructuring processes.

At DSM Avocats à la Cour, Alex Pham handles most of the day-to-day tax work and is noted for his ‘technical expertise’. Pham is particularly skilled at representing corporates, funds and high-net-worth-individuals in tax litigation, including as it relates to VAT reassessments and transfer pricing. Mario Di Stefano heads up the overarching team and has aptitude in non-contentious tax structuring work.

Abreast of the domestic/EU level legislative and regulatory landscape, as well as being well-connected with the tax authorities and key market stakeholders, Goodwin is well-positioned to provide ‘legally sound and commercially relevant’ advice to private funds seeking to access and deploy capital in Europe. ‘Responsive and hands-on’ team head Julien Schraub is skilled at handling complex structuring and transactional work for private equity/venture capital, real estate, and private credit funds. Schraub is also adept at advising the firm’s US fund client base on the alignment of EU and US considerations, as is the ‘talented and highly responsive’ Yann Ricard, who is admitted to the New York Bar.

Mourant‘s team provides vital tax structuring pursuant to cross-border financing, corporate and funds-related work handled by other practitioners in the office. ‘Brilliant’ team head Eléonore Galleron excels at ‘seamlessly integrating tax considerations into the broader deal strategy’, including for private equity funds on their upstream and downstream work, as well as on behalf of lenders in a fund finance context. Galleron also handles some standalone compliance advice pursuant to private wealth structures.

Regularly working as part of a cross-office/multidisciplinary offering, Simmons & Simmons in Luxembourg is particularly skilled at providing the tax structuring pursuant to cross-border fund-led mandates, and for banks on loan financings/refinancings and complex structured finance mandates. ‘Technically skilled and client-oriented’ team head Julie Carbiener is at the forefront of this work, as well as being well-versed in VAT and tax litigation.

Since its formation in January 2024, tax boutique DPR Tax Law has quickly gained a strong reputation as a result of its ability to provide ‘responsive and commercially minded’ advice across a range of transactional and compliance work. Founding partner Pierre-Régis Dukmedjian has deep knowledge of domestic and international tax considerations and delivers ‘legally sound and commercially effective’ solutions, including to private equity and real estate funds on transactional tax issues and for securitisation vehicles.

The tax team, which is led by Jean-Dominique Morelli, forms a key part of Herbert Smith Freehills Kramer‘s private capital focus since its Luxembourg office was opened at the beginning of 2025. Morelli has a ‘very commercial approach’ and has been working closely with the firm’s corporate/M&A team in relation to private equity tax structuring.

The ‘pragmatic and client-centric’ team at KLEYR GRASSO provides ‘solutions-oriented’ advice to corporates, funds and individuals across a broad swathe of advisory, transactional and disputes work. ‘Seasoned and highly experienced’ team head Lionel Bonifazzi is appreciated by clients for his ‘deep expertise and broad knowledge’, ensuring that he is skilled at both domestic mandates and complex cross-border matters.

Headed by James O’Neal, Maples Group‘s team maintains a strong focus on tax structuring within the asset management sector. In this context, O’Neal is particularly skilled at advising alternative investment funds including on transfer pricing issues, as well as having niche expertise on mandatory disclosure rules under DAC6.

The ‘knowledgeable and pragmatic’ team at Ogier provides ‘business-oriented and hands-on’ tax advice to corporates, funds, and family offices across a range of largely cross-border structuring work. Team head Aurélie Clementz is well-versed in advising fund clients, including private equity sponsors, on tax-related matters throughout the investment life-cycle. Clementz is also skilled at advising on fintech-related tax matters, as is Hadrien Brémon whose workload also includes a considerable amount of structured finance-related tax structuring.

Combining ‘technical excellence with a practical, solutions-oriented approach’, Pinsent Masons has successfully leveraged the firm’s institutional international client roster to good effect to advise on Luxembourg structuring matters, as well as developing its own workflow, including as it relates to day-to-day tax compliance matters for corporates and high-net-worth-individuals. ‘Professional and knowledgeable’ team head David Maria combines corporate and tax law expertise to good effect, including on cross-border M&A mandates for fund clients.

White & Case S.à r.l. delivers ‘high-level local expertise and solutions aligned with international market standards’, including on the tax structuring related to cross-border finance and M&A matters. Team head Guilhèm Becvort is at the forefront of this work, including for private equity firms on tax-related matters, where he regularly works closely with the office’s growing transactional offering and with lawyers spread throughout the firm’s international network.