Following an extraordinary council of government, the Prime Minister announced, Wednesday, March 25, a new wave of measures to support companies and the self-employed.

We draw your attention to the fact that the measures forming part of this economic stabilization program have not yet, for the most part, been the subject of a bill or of concrete forms made available.

Apart from the measures relating to non-repayable financial aid or directly involving banks, it is therefore difficult, at the time of this newsletter’s publication, to immediately take concrete action to collect the aid. However, we will keep you updated on the concrete terms of request for each measure, as the details are known on this subject.

You will find below the summary in pictures, published by the government, of the 21 support measures existing to date (unfortunately only available in French) :

https://meco.gouvernement.lu/dam-assets/dossiers/TableauProgrammeStabilisation.pdf

• Non-repayable financial assistance

The Directorate of Middle Classes has decided to set up an emergency fund for very small businesses (VSBs) and the self-employed, which consists of non-repayable aid of € 5,000.

This aid is strictly limited to VSBs with a maximum of 9 full-time jobs and to selfemployed people whose total workforce does not exceed 9 employees, including the self-employed. As specified by the form, when the applicant is an economic beneficiary of several companies, he can only submit a single request, for only one of the companies he owns, provided that the number of employees of his group of companies does not exceed 9 people (in full-time jobs).

The following conditions must absolutely be observed :

• Be in possession of a valid business license, issued before March 18, 2020, by the Ministry of the Middle Classes
• Achieve a minimum annual turnover of € 15,000
• Having been obliged to interrupt its activity following the entry into force of the Grand-Ducal regulation of March 18, 2020 (see list of companies having been obliged to cease their activities: http://www.legilux.lu/eli/etat/leg/rgd/2020/03/18/a165/jo). Businesses that are not subject to government shutdown are not eligible for this assistance.

The request for assistance must be sent by mail or electronically (corona.pme@eco.etat.lu), by attaching the request for subsidy form (https://guichet.public.lu/dam-assets/catalogue-formulaires/coronavirus/fonds-urgence/fonds-urgence-tpe-independant.pdf) as well as a bank identity statement (RIB).

More details and information: https://guichet.public.lu/en/entreprises/financement-aides/coronavirus/fonds-urgence-petites-entreprises-independants.html

• Moratorium granted by certain banks on the repayment of existing loans

The banks that have signed an agreement with the government are the Spuerkeess/BCEE, BIL, BGL BNP Paribas, Banque de Luxembourg, ING and Raiffeisen.