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View Offshore Information by Country/Jurisdiction:

Belize	British Virgin Islands	Cyprus
Delaware Non-Resident LLC	Gibraltar Tax Exempt Company	Gibraltar Non-Resident
Irish Domestic Companies	Isle of Man	Jersey
Liechtenstein Foundations	Luxembourg Holding Company	Netherlands Antilles
Panama	UK Managed Ltd Company	UK Non-Resident LLP

Liechtenstein Private Interest Foundations & Establishments Fact File

The Principality of Liechtenstein can trace its origins back to 1919 when the regions autonomy was conceded by Emperor Charles VI. Historically closely connected to Austria although this century it has established substantial links with Switzerland including the adoption of the Swiss currency. Since the Second World War the jurisdiction has become a major financial service provider in central Europe with numerous trust companies located in its capital Vaduz.

Numerous legal undertakings have been established to allow tax planning flexibility the most well know being private interest foundations (stiftungs) and private law establishments (anstalts) both of which offering unique advantages. The main benefit of private interest foundations and establishments is that they are self owning entities like trusts but can be controlled, if required, by the founder during his or her lifetime. Banking & Confidentiality- For those seeking confidentiality over their business and financial affairs Liechtenstein probably offers the best 'haven' in Europe.

It is not a member, or associated member, of the European Union and only has one double taxation treaty with Austria. Under their most recent banking legislation, passed on the 21ST of October 1992, both present and former bank staff together with government officials cannot disclose any banking information to third parties. If one of the numerous local legal entities, including anstalts, aktiengesellschafts and foundations, are needed it is highly recommended that local lawyers are employed since any non-authorized disclosures would result in penal consequences.

For the same reasons, their employment is also recommended even when personal or foreign company accounts are being opened. Obviously, Liechtenstein like all other respectable jurisdictions does not wish, notwithstanding the aforementioned, to be seen as a center for illicit/criminal activities and, provided sufficient evidence is adduced, will release information. Further, any cash deposits over 500,000 Swiss Francs will be subject to strict source verification.

Nevertheless, it should be noted that the Liechtenstein authorities will not assist third party inquiries relating to foreign tax obligations. If a foreign company is opening an account full banking confidentiality will still apply, however, it is then necessary to consider that jurisdictions disclosure rules.

Star Ratings:

• Corporate registration efficiency: 5 / 5
• Cost: 4 / 5
• Confidentiality: 5 / 5
• Local banking facilities: 5 / 5
• Legal system: 5 / 5
• Political stability: 5 / 5
• Reputation: 5 / 5

Location

Liechtenstein is located between Austria and Switzerland. Population 30,000.

Legal Entities

Private Interest Foundations

A separate legal entity like a limited liability company but unlike a company it is self owning and not owned by shareholders. Like trusts foundations generally do not have direct commercial interests but can own companies that are commercially driven. In countries such as the UK and USA foundations can offer unique advantages as anti-avoidance provisions have primarily been drafted for trusts but not for foundations. In addition, case law suggests that courts in English speaking countries accept that foundations are separate legal entities like companies but that they are also self-owning.

Further, unlike trusts a founder, akin to a settlor in a trust, can reserve special rights during his or her lifetime including the right to determine his or her foundation. The principal governing body is the Foundation Council which generally has consists of Liechtenstein lawyers and/or trust companies. If required it is possible to employ an independent 'protector' to ensure that local Foundation Council members carry out their duties as required.

Private Interest Establishments

Very similar in format to a foundation save that they can directly own and operate commercial enterprises. If an establishment does directly own and control a business enterprise it will be subject to the same auditing requirements that pertain to Liechtenstein companies.

Advantages

• Highly developed infrastructure and pro-business government.
• Sophisticated and varied legal entities.
• Very stable economy.
• Banks have AAA status.
• The currency is the Swiss franc.
• Little corruption.
• Beneficial or even share ownership need rarely be publicity recorded.
• There are no nationality requirements in respect of most officerial positions.
• Non-commercial entities do not require audited accounts.
• Efficient local professionals.
• Excellent communications.
• English is widely spoken.
• Courts will only disclose beneficial ownership details in criminal cases and then only when such activities are deemed criminal under Liechtenstein law.