Bill No. 6777 aims to introduce the simplified private limited-liability company (société à responsabilité simplifiée or S.à r.l.-S) into the Luxembourg corporate landscape. The bill expresses the Luxembourg government's will to create a modern version of the traditional private limited-liability company. The new corporate form would be cheaper, easier and faster for new entrepreneurs with limited financial resources to establish.
The bill forms part of a broader movement aimed at luring new entrepreneurs away from European countries which already allow the establishment of this type of company (for instance the entrepreneur individuel à responsabilité limitée in France, the Mini-GmbH in Germany, and the Starter SPRL/BVBA in Belgium).