Official Name: Liechtenstein
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Liechtenstein
Liechtenstein is a tiny, landlocked country located in the heart of Europe. The country is bordered by Switzerland to the west and south and Austria to the east. With a population of just over 38,000 people, Liechtenstein is one of the smallest countries in the world, but despite its size, it has a rich history, culture, economy, and political system.
History
Liechtenstein was originally inhabited by the Celtic people before being taken over by the Roman Empire in the 1st century BC. After the fall of the Roman Empire, the region came under the control of various Germanic tribes before becoming a part of the Holy Roman Empire in the 10th century. Liechtenstein was ruled by the Counts of Vaduz and the Princes of Liechtenstein from the 12th century until the present day.
Culture
Liechtenstein has a unique culture that is heavily influenced by its neighboring countries of Austria and Switzerland. The country is known for its traditional folk music and dance, as well as its delicious cuisine, which includes dishes such as Käsknöpfle (a type of pasta with melted cheese) and Riebel (a dessert made from cornmeal). Liechtenstein is also home to a number of museums and art galleries, including the Liechtenstein National Museum, which showcases the country’s history and culture.
Economy
Liechtenstein has a thriving economy that is largely based on manufacturing, tourism, and financial services. The country is home to a number of small and medium-sized businesses that specialize in the production of precision instruments, electronics, and textiles. Additionally, Liechtenstein has a well-established financial services industry that is known for its banking secrecy laws.
Politics
Liechtenstein is a constitutional monarchy that is ruled by a Prince and a democratically elected parliament. The current Prince of Liechtenstein is Hans-Adam II, who has held the position since 1989. The parliament, known as the Landtag, is made up of 25 members who are elected by popular vote. Liechtenstein also has a high level of political stability, with a strong tradition of democracy and respect for the rule of law.
Types of companies in Liechtenstein
Limited Liability Company (LLC)
An LLC is a company where the liability of shareholders is limited to the amount of their investment. This type of company is the most popular in Liechtenstein and requires a minimum share capital of CHF 30,000. An LLC is required to have at least one director and one shareholder, who can be either an individual or a legal entity.
Public Limited Company (PLC)
A PLC is a company whose shares can be traded on the stock exchange. A minimum share capital of CHF 50,000 is required to establish a PLC in Liechtenstein. This type of company is also required to have at least one director and one shareholder.
Branch Office
A branch office is an extension of a foreign company in Liechtenstein. The foreign company remains responsible for the debts and liabilities of the branch office. A branch office must have a local representative and is required to register with the Liechtenstein Commercial Register.
Holding Company
A holding company is a company that owns shares in other companies but does not engage in any other business activities. Liechtenstein offers favorable tax conditions for holding companies, making it a popular location for them.
Family Foundation
A family foundation is a legal entity that is used for the purpose of managing and preserving a family’s wealth. The foundation is managed by a board of directors and can be used to hold assets, make investments, and carry out charitable activities.
Cooperative Society
A cooperative society is a company owned and controlled by its members, who share the profits and benefits of the company. The members of the cooperative society must be individuals or legal entities with similar economic interests.
Advantages of companies in Liechtenstein
Favorable Tax Environment
One of the most significant advantages of companies in Liechtenstein is the country’s low tax rate. Liechtenstein has a corporate tax rate of 12.5%, which is one of the lowest in Europe. This makes it an attractive destination for businesses looking to optimize their tax position.
Strong Banking Secrecy Laws
Liechtenstein has a long tradition of banking secrecy, which provides a high level of privacy and confidentiality for businesses. The country’s banking system is known for its stability and reliability, and it offers a wide range of financial services to businesses.
Access to the EU Market
Liechtenstein has a customs union with Switzerland and is a member of the European Economic Area (EEA). This means that Liechtenstein-based companies have access to the European Union (EU) market without being members of the EU.
Stable and Favorable Business Environment
Liechtenstein has a stable and favorable business environment that is supported by a transparent legal system and a sound regulatory framework. The country has a high level of political stability and a strong tradition of democracy and respect for the rule of law.
Highly Skilled Workforce
Liechtenstein has a highly skilled and educated workforce that is proficient in multiple languages, including German, English, and French. The country’s education system is well-regarded, and it produces a steady stream of talented and motivated professionals.
Flexible Corporate Structures
Liechtenstein offers various types of corporate structures, such as Limited Liability Companies (LLCs), Public Limited Companies (PLCs), and Family Foundations, which provide flexibility and adaptability to businesses.
“Our team can provide assistance if you need help registering a company in Liechtenstein”
Common questions
What are the requirements for setting up a company in Liechtenstein?
To set up a company in Liechtenstein, you need to have a business plan, a registered office address, a minimum share capital, and at least one shareholder and one director.
What is the minimum share capital required to set up a company in Liechtenstein?
The minimum share capital required to set up a company in Liechtenstein depends on the type of company. For an AG (Aktiengesellschaft), the minimum share capital is CHF 50,000, and for an GmbH (Gesellschaft mit beschränkter Haftung), the minimum share capital is CHF 20,000.
What types of companies can be established in Liechtenstein?
The types of companies that can be established in Liechtenstein include AG (Aktiengesellschaft), GmbH (Gesellschaft mit beschränkter Haftung), Establishment, Anstalt, and Stiftung.
What are the advantages of setting up a company in Liechtenstein?
The advantages of setting up a company in Liechtenstein include low tax rates, political and economic stability, a well-established legal system, a favorable business environment, and easy access to the European Union market.
What is the process of setting up a company in Liechtenstein?
The process of setting up a company in Liechtenstein involves choosing a company name, drafting the articles of association, opening a bank account, registering the company with the commercial register, obtaining a business license, and registering for tax and social security.
What documents are required for company registration in Liechtenstein?
The documents required for company registration in Liechtenstein include the articles of association, proof of share capital, a business plan, identification documents of shareholders and directors, and a certificate of the registered office address.
How long does it take to set up a company in Liechtenstein?
It usually takes around 2-4 weeks to set up a company in Liechtenstein, depending on the complexity of the company’s structure and the completeness of the required documents.
What is the role of a notary in setting up a company in Liechtenstein?
A notary in Liechtenstein is responsible for certifying the articles of association, verifying the identity of the shareholders and directors, and registering the company with the commercial register.
What is the cost of setting up a company in Liechtenstein?
The cost of setting up a company in Liechtenstein depends on the type of company and the services required, such as legal and accounting services, notary fees, and government fees. The minimum cost can range from CHF 5,000 to CHF 10,000.
What is the corporate tax rate in Liechtenstein?
The corporate tax rate in Liechtenstein is 12.5% on taxable profits. However, there are some tax exemptions and incentives available for certain types of businesses.
What are the requirements for opening a bank account in Liechtenstein?
The requirements for opening a bank account in Liechtenstein include a valid passport, proof of residence, and proof of the origin of funds.
What is the minimum deposit required to open a bank account in Liechtenstein?
The minimum deposit required to open a bank account in Liechtenstein depends on the bank and the type of account, but it is typically around CHF 5,000 to CHF 10,000.
What are the different types of bank accounts available in Liechtenstein?
Liechtenstein offers a range of bank account types, including personal accounts, business accounts, savings accounts, and investment accounts.
Can a foreigner open a bank account in Liechtenstein?
Yes, foreigners can open bank accounts in Liechtenstein. However, they may be subject to additional requirements and documentation.
What is the role of a trustee in Liechtenstein company registration?
A trustee is a legal entity appointed to hold shares on behalf of the beneficial owner of a Liechtenstein company. The trustee is responsible for managing and administering the shares in accordance with the wishes of the beneficial owner.
What are the requirements for appointing a trustee in Liechtenstein?
To appoint a trustee in Liechtenstein, the company must provide the name and contact information of the proposed trustee, along with a trustee agreement outlining the terms of the appointment.
What are the duties of a trustee in Liechtenstein?
The duties of a trustee in Liechtenstein include holding and administering shares on behalf of the beneficial owner, managing the shares in accordance with the wishes of the beneficial owner, and ensuring compliance with all relevant laws and regulations.
How much does it cost to appoint a trustee in Liechtenstein?
The cost of appointing a trustee in Liechtenstein can vary depending on the complexity of the arrangement and the services provided. It is best to contact a local trust company for specific pricing information.
What is the role of a director in Liechtenstein company registration?
A director is responsible for managing the day-to-day operations of a Liechtenstein company, making strategic decisions, and ensuring compliance with all relevant laws and regulations.
Can a foreigner be a director of a company in Liechtenstein?
Yes, foreigners can be directors of companies in Liechtenstein.
What are the requirements for appointing a director in Liechtenstein?
To appoint a director in Liechtenstein, the company must provide the name, contact information, and a copy of the proposed director’s identification documents.
What are the duties of a director in Liechtenstein?
The duties of a director in Liechtenstein include managing the company’s affairs, ensuring compliance with all relevant laws and regulations, and acting in the best interests of the company and its shareholders.
Can a company have multiple directors in Liechtenstein?
Yes, a company can have multiple directors in Liechtenstein.
What is the role of a shareholder in Liechtenstein company registration?
A shareholder is a person or entity that owns shares in a Liechtenstein company and is entitled to a portion of the company’s profits and assets.
Can a foreigner be a shareholder of a company in Liechtenstein?
Yes, foreigners can be shareholders of companies in Liechtenstein.
What are the requirements for appointing a shareholder in Liechtenstein?
To appoint a shareholder in Liechtenstein, the company must issue shares to the proposed shareholder and register the transfer of ownership with the Liechtenstein Commercial Register.
What are the rights and obligations of a shareholder in Liechtenstein?
The rights and obligations of a shareholder in Liechtenstein include the right to vote on important company matters, the right to receive a portion of the company’s profits and assets, and the obligation to comply with all relevant laws and regulations.
What is the process for changing the shareholder of a company in Liechtenstein?
To change the shareholder of a company in Liechtenstein, the company must issue new shares to the proposed shareholder and register the transfer of ownership with the Liechtenstein Commercial Register.
What is the role of a registered agent in Liechtenstein company registration?
A registered agent is a legal entity appointed to receive official communications on behalf of a Liechtenstein company, such as legal notices and tax documents.
What are the requirements for appointing a registered agent in Liechtenstein?
According to Liechtenstein law, every company is required to have a registered agent who is a legal resident of Liechtenstein and is authorized to represent the company.
What are the duties of a registered agent in Liechtenstein?
The main duty of a registered agent in Liechtenstein is to maintain a physical address in Liechtenstein where official notices and documents can be served on behalf of the company. Additionally, they must be available during normal business hours to receive these notices and documents.
How much does it cost to appoint a registered agent in Liechtenstein?
The cost of appointing a registered agent in Liechtenstein varies depending on the agent and the services provided. Generally, it can range from several hundred to several thousand Swiss francs per year.
Can a foreigner be a legal representative of a company in Liechtenstein?
Yes, a foreigner can be a legal representative of a company in Liechtenstein as long as they meet the necessary requirements.
What is the role of a legal representative in Liechtenstein company registration?
The legal representative is responsible for registering the company with the authorities in Liechtenstein. They act as a liaison between the company and the authorities and are authorized to sign legal documents on behalf of the company.
What are the requirements for appointing a legal representative in Liechtenstein?
The legal representative must be a natural person who is at least 18 years old and has a valid residence permit in Liechtenstein. They must also have the necessary knowledge and experience to carry out the duties required of them.
What are the duties of a legal representative in Liechtenstein?
The legal representative is responsible for ensuring that the company complies with all relevant laws and regulations in Liechtenstein. They must also maintain accurate records and submit reports to the authorities as required.
How much does it cost to appoint a legal representative in Liechtenstein?
The cost of appointing a legal representative in Liechtenstein can vary depending on the services provided and the experience of the representative. Generally, it can range from several thousand to tens of thousands of Swiss francs per year.
What is the process for obtaining a business license in Liechtenstein?
The process for obtaining a business license in Liechtenstein involves submitting an application to the Trade and Industry Office. The application must include details about the business, its owners, and its activities. The authorities will then review the application and may request additional information before issuing a license.
What are the requirements for obtaining a business license in Liechtenstein?
The requirements for obtaining a business license in Liechtenstein vary depending on the type of business and its activities. Generally, the business must be registered with the commercial register, have a physical address in Liechtenstein, and meet any specific industry regulations.
What is the duration of a business license in Liechtenstein?
The duration of a business license in Liechtenstein varies depending on the type of license and the activities of the business. Generally, a license must be renewed annually.
How much does it cost to obtain a business license in Liechtenstein?
The cost of obtaining a business license in Liechtenstein varies depending on the type of license and the activities of the business. Generally, it can range from several hundred to several thousand Swiss francs per year.
What is the process for registering a trademark in Liechtenstein?
To register a trademark in Liechtenstein, an application must be filed with the Liechtenstein Patent Office. The application must include information about the trademark, such as its name, description, and intended use. The application is then examined to determine if the trademark is eligible for registration, and if it meets the requirements, the trademark will be registered and published in the Liechtenstein Trademark Gazette.
What are the requirements for registering a trademark in Liechtenstein?
The requirements for registering a trademark in Liechtenstein include that the trademark must be distinctive, not already registered or in use by another party, and not contrary to public policy or morality. The trademark must also be capable of being represented graphically, and the applicant must have a legitimate interest in using the trademark.
How long does it take to register a trademark in Liechtenstein?
The process of registering a trademark in Liechtenstein can take anywhere from 6 to 12 months, depending on the complexity of the application and any objections or oppositions that may arise.
How much does it cost to register a trademark in Liechtenstein?
The cost of registering a trademark in Liechtenstein varies depending on the type of trademark and the number of classes it is registered in. The basic filing fee for a single-class trademark is CHF 120, with additional fees for each additional class.
What is the process for registering a patent in Liechtenstein?
To register a patent in Liechtenstein, an application must be filed with the Liechtenstein Patent Office. The application must include a detailed description of the invention, as well as any drawings or other supporting materials. The patent will be examined to determine if it meets the criteria for patentability, and if it does, it will be granted and published in the Liechtenstein Patent Gazette.
Documents required to register a company
Articles of Association: This document outlines the name, purpose, registered office, and share capital of the company, as well as the rights and obligations of the shareholders.
Business Plan: This document provides a comprehensive overview of the company’s business, including its target market, products or services, marketing strategy, and financial projections.
Identity documents: The founders and directors of the company will need to provide a valid passport or national ID card to confirm their identity.
Proof of residence: The founders and directors will also need to provide proof of their residential address, such as a utility bill or rental agreement.
Shareholder Declaration: This document is signed by the founders and shareholders, declaring their agreement to the terms and conditions of the company’s Articles of Association.
Banking information: The founders will need to provide information about the bank account that will be used for the company’s capital contributions and ongoing financial operations.
Power of Attorney: If the founders or directors will not be present in Liechtenstein during the registration process, they may need to appoint a local representative with power of attorney to act on their behalf.
Major Banks in Liechtenstein
LGT Bank AG: Founded in 1920, LGT Bank AG is one of the largest banks in Liechtenstein. It provides private banking and asset management services to clients worldwide. LGT Bank AG has offices in over 20 countries and manages assets worth over CHF 215 billion.
Liechtensteinische Landesbank (LLB): LLB is a publicly traded bank that offers banking, investment, and asset management services to individuals and businesses. The bank has a strong presence in Liechtenstein, Switzerland, and Austria and manages assets worth over CHF 82 billion.
VP Bank AG: VP Bank AG is a Liechtenstein-based private bank that provides investment management, wealth planning, and financial advisory services to clients worldwide. The bank has a network of offices in Europe, Asia, and the Americas and manages assets worth over CHF 52 billion.
Bank Frick & Co. AG: Founded in 1998, Bank Frick & Co. AG is a privately held bank that offers wealth management, custody, and investment services to clients. The bank has a focus on blockchain and cryptocurrencies and has been at the forefront of developing innovative digital banking solutions.
Kaiser Partner Privatbank AG: Kaiser Partner Privatbank AG is a Liechtenstein-based bank that provides private banking, wealth management, and financial planning services to clients worldwide. The bank has been in operation since 2005 and manages assets worth over CHF 4 billion.
The top universities in Liechtenstein
Liechtenstein is a small principality located in the heart of Europe and does not have its own university. However, it has close ties with the University of Applied Sciences (UAS) in nearby St. Gallen, Switzerland, which offers various programs that are relevant to the business and economic activities in Liechtenstein. Here are the details:
University of Applied Sciences St. Gallen (UAS)
Location: St. Gallen, Switzerland (about 25 km from Liechtenstein)
Website: https://www.fhsg.ch/en/
QS Ranking: not ranked in QS World University Rankings
Major Courses: Business Administration, International Management, Financial Management, Accounting, Banking and Finance, International Marketing, Business Information Technology, Computer Science
Note: Liechtenstein also has a vocational school, the Liechtenstein Professional Training Center, which provides vocational training and continuing education programs in various fields such as business, healthcare, and construction.
“If you need assistance registering for college or university, our team is here to help.”
Strange or unusual to visitors in Liechtenstein
The small size: Liechtenstein is one of the smallest countries in the world, and visitors may find it unusual to be able to drive across the entire country in less than an hour.
The mountainous landscape: Liechtenstein is situated in the Alps, and visitors may find the mountainous landscape and winding roads to be unusual or challenging to navigate.
The German dialect: While German is the official language of Liechtenstein, the local dialect can be difficult for visitors to understand. It features unique vocabulary, grammar, and pronunciation that may take some time to get used to.
The high standard of living: Liechtenstein is one of the wealthiest countries in the world, and visitors may be surprised by the high standard of living, modern infrastructure, and luxurious amenities.
The low crime rate: Liechtenstein is known for having a low crime rate, and visitors may find it unusual to see little to no police presence on the streets.
The royal family: Liechtenstein is a principality, and visitors may find it interesting to learn about the royal family, their history, and their role in the country’s politics and society.
“Tips for Newcomers: Adjusting to Life in Liechtenstein”
Learn German: Although English is widely spoken in Liechtenstein, learning German will help you integrate better into the local community and culture.
Get to know the locals: Liechtensteiners are generally friendly and welcoming, but it may take some effort to break the ice. Joining local clubs and organizations is a great way to meet new people and learn about the local culture.
Enjoy the outdoors: Liechtenstein is known for its beautiful scenery and hiking trails. Take advantage of the natural beauty by exploring the mountains, forests, and lakes in the area.
Try the local cuisine: Liechtenstein has a rich culinary tradition that blends German, Austrian, and Swiss influences. Be sure to try local specialties such as Käsknöpfle (a type of pasta with melted cheese) and Ribel (a type of polenta).
Respect local customs: Liechtensteiners are proud of their cultural heritage, so it is important to respect local customs and traditions. This includes dressing modestly and observing local etiquette.
Embrace the slower pace of life: Liechtenstein has a more relaxed pace of life than many other countries. Take advantage of this by enjoying leisurely walks, spending time with friends and family, and savoring the small pleasures of everyday life.
Be prepared for high living costs: Liechtenstein is known for being one of the most expensive countries in the world. Make sure to budget accordingly and be prepared for higher prices on goods and services.
Top recruitment agencies in Liechtenstein
- Forstmoser Human Resources AG
- Bachmann Personal AG
- Bendura Bank AG
- LGT Bank AG
- Ivoclar Vivadent AG
Necessary phone numbers in Liechtenstein
Emergency services: 112
Police: +423 236 71 11
Fire Brigade: +423 238 15 15
Ambulance and Rescue Services: +423 144
Poison Control Center: +41 44 251 51 51
Roadside assistance: 140
Tourist Information Center: +423 239 63 63
Public transportation information: +423 231 11 31
Vaduz Hospital: +423 235 44 33
Balzers Hospital: +423 388 77 77
Dental emergency services: +423 239 70 00
Veterinary emergency services: +423 232 42 42
The best way to immigrate to Liechtenstein
Work visa: One of the most common ways to immigrate to Liechtenstein is through a work visa. To obtain a work visa, you must have a job offer from a company in Liechtenstein that has been approved by the immigration authorities. You will also need to provide proof of your qualifications, work experience, and financial stability.
Study visa: If you are planning to study in Liechtenstein, you will need to apply for a study visa. You must have been accepted into a recognized educational institution in Liechtenstein and show proof that you can support yourself financially during your stay.
Family reunion visa: If you have close family members who are citizens or permanent residents of Liechtenstein, you may be able to obtain a family reunion visa. This type of visa is available for spouses, children, and parents of Liechtenstein residents.
Investment visa: If you are an investor and wish to start a business in Liechtenstein, you may be able to obtain an investment visa. This visa requires that you invest a significant amount of money in a Liechtenstein-based business, creating jobs and contributing to the economy.
