Most European countries don't offer a similar level of legal protection, but they might not have to. Many companies use Luxembourg as their European hub, and approval there could grease the wheels for space mining businesses across the continent.

As it stands, Luxembourg isn't just counting on the law to lure the corporate crowd. It's negotiating formal relationships with about 20 space companies and entrepreneurs, including bigger names like Deep Space Industries and Planetary Resources. While the terms aren't specific, the nation will be "one of the main shareholders" in Planetary Resources. In short, at least some companies will get an infusion of cash in return for operating in Luxembourg. They might not have much choice. Even the most aggressive space mining plans won't swing into high gear until closer to 2020, and it could take years after that before they become profitable.