Liechtenstein – A Financial Center

After the nearly total collapse of the Liechtenstein economy as a result of the First World War, the country changed direction and moved towards Switzerland.

Especially with a customs union agreement and adoption of the Swiss franc as national currency, the foundations were laid for an impressive economic development which was also assisted by the introduction of modern, liberal company law and tax law.

The next few decades saw ongoing growth in the Liechtenstein economy, due not least to the great political stability and the associated legal security and continuity.

The Liechtenstein economy is now very diversified.

In addition to powerful local trade and an international high-tech export industry, the financial services sector is of great importance for the country.

Although only approximately 15% of wage-earners are employed in this sector, they generate more than one third of the entire net output of the Liechtenstein economy.

Liechtenstein is a member of numerous international organisations such as UNO, WTO, Council of Europe, OSCE and EFTA.

Joining the European Economic Area (EEA) in 1995 in a way that was appropriate to its size, the country gained access to the internal European market whilst maintaining the traditional close relationship with Switzerland.

As an international economic location Liechtenstein has a vital interest in the worldwide implementation of internationally recognised standards, especially in the financial sector.

Preventing misuse of the financial markets, combating money-laundering and financing of terrorism are high priorities for Liechtenstein. The IMF recognises Liechtenstein's endeavours and confirms a “high level of compliance”.

There are currently 15 banks situated in Liechtenstein, specializing mainly in private banking.

The Liechtenstein law on foundations and trusts is of particular importance here and in the area of international asset allocation.

This service range is supplemented by investment funds and insurance business which have undergone continuous development in recent years.

Over 80 years of experience, tradition and professionalism in customer support as well as strict legislation for protection of investors and a highly developed infrastructure characterise the financial center.