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Political and economic stability, legal certainty and top-quality service have defined Liechtenstein as a financial center for many years. Its asset management expertise and its business-friendly corporate and tax law are also key benefits it offers as a location compared with other countries.
With a lean, user-focused public sector, Liechtenstein offers a stable legal and social system and a traditionally liberal economy. Public finances on a sound footing, straightforward administrative procedures and a transparent and predictable tax and legal regime add to Liechtenstein’s attractiveness as a place to do business and a financial center.
The financial sector is a major employer and an attractive one, employing a greater-than-average number of highly skilled staff. The establishment of the first bank in Liechtenstein in 1861 marked the beginning of a long tradition that continues to this day. The country’s largest bank, LGT Bank Ltd., was founded more than 90 years ago and has been owned by the Princely House of Liechtenstein since 1930.
Liechtenstein’s banks boast financial strength and stability. They have a solid, high-quality capital base and are among the best-capitalized banks in Europe. Client deposits are covered by a modern, EU-compatible depositor protection scheme. Liechtenstein’s AAA rating from Standard & Poor’s underlines the country’s reliability as a financial center.
Thanks to Liechtenstein’s membership of the European single market, its banks enjoy full freedom to provide services in all EEA countries. This special position enables the Liechtenstein financial center to provide attractive diversification opportunities to investors with a global focus.
As a small, specialized financial center, Liechtenstein combines many years of practical know-how with expertise in private banking. Professional advice and top-quality service are traditional strengths of Liechtenstein’s banks and key factors in their success. The banks also have a pool of specialists to draw on at home and abroad.
Liechtenstein’s first bank is established
"LGT Bank Ltd." is founded
The Customs Treaty is signed with Switzerland and banking secrecy is enshrined in the Banking Act
The Swiss franc becomes legal tender
The Law on Persons and Companies is passed
Banking Act
The Liechtenstein Bankers Association is founded
Liechtenstein gets its first ATM
First agreement on banks’ code of conduct with regard to the exercise of due diligence
The Currency Treaty is signed with Switzerland
EFTA membership
EEA and WTO membership
Due Diligence Act
The Financial Intelligence Unit is set up to combat organized and white collar crime and act as a specialist office for due diligence
An integrated Financial Market Authority (FMA) is founded
onwards: OECD standards on international cooperation in tax matters are recognized and various Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs) are signed
The FMA becomes an ordinary member of IOSCO and the new Tax Act enters into force