GENERAL

Status: Constitutional Monarchy
Location: In the Rhine Valley between Switzerland and Austria.
Area: 160km2
Capital: Vaduz
Population: 31,000
Business language: German, although English and French are widely used.
Currency: Swiss Franc (SFr).
SFr1=100 centimes.
ime zone: GMT +1.
(GMT +2 from March to September).
Business hours: Mon-Fri 8am to 4.30pm
Climate: Alpine. Average temperatures range from 0ºc to 17ºc.

IMPORTANT CONTACTS

British Consulate General
Städtle 7
Postfach 70
FL 9490 Vaduz
Liechtenstein
Tel: + 432 232 8726

British Swiss Chamber of Commerce
Freie Strasse 155
8032 Zurich
Tel: + 432 236 1438

Chamber of Commerce
Liechtensteinische Industrie und Handelskammer
Josef-Rheinberger-Strasse 11
FL-9490 Vaduz
Tel: + 432 237 5511

EXPAT EMPLOYMENT DETAILS

Work and residency permits are required for non-Liechtenstein/Swiss nationals.

COMMUNICATIONS

Liechtenstein is easily accessible by rail, road or air (via Zurich, which is 110km away). Liechtenstein has an excellent telecommunications network that is of a high standard.

POLITICAL AND ECONOMIC STABILITY

Like its Swiss neighbour and ally, Liechtenstein is politically neutral. The principality is a hereditary constitutional monarchy governed by a democratic parliament. In relation to size, it is one of the most industrialised nations, has low un-employment and a large proportion of resident foreigners. It is one of the most sophisticated offshore centres with a flexible and liberal company law and its own trust law. Political stability along with banking secrecy legislation and low fiscal charges have encouraged offshore activity. The Liechtenstein Foundation owns the majority of shares in The Bank of Liechtenstein and has expanded its international network of offices and its activities to include investment consultancy and portfolio management.

KEY ACTIVITIES

Tax is minimal and favourable for offshore vehicles. Trusts, which have existed in Liechtenstein since 1926, are one of the most favoured forms, and expertise in the Principality includes corporate administration, banking and investment advice.

ADVANTAGES OF LIECHTENSTEIN

  • Liechtenstein's monetary and customs union with Switzerland affords a high degree of stability.
  • Long history of political neutrality.
  • Low taxation.
  • Good industrial relations.
  • Balanced National Budget.
  • Tight social security system.
  • Diligent and entrepreneurial population.

The content of this factfile is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances

This factfile also appears in the 'International Offshore and Financial Centres Handbook 1999/2000'. For further information about this highly informative guide to offshore centres, or to order your copy, please phone +44 (0) 207 820 7733 or send an email to iofch@mondaq.com