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Business
in Liechtenstein
business
in liechtenstein
Table of contents
Important information at a glance
3
Foreword4
Welcome to Liechtenstein
6
Stable, secure, debt-free
9
Tradition and entrepreneurship
10
Diversification is reality
13
A professional, stable and innovative
financial centre
14
Entrepreneurship pays
17
At the heart of two economic areas
19
Simple, fair, modern
20
Work makes life sweet
23
Promoting research and development
24
It works
27
Qualified staff
29
An oasis of well-being
30
Legal forms
32
Become an entrepreneur
33
Contact details
34
Overview
3
Important information
at a glance
The Principality of Liechtenstein is an excellent business location offering
a wide range of benefits for companies.
High level of political continuity and stability
Strong business diversification
Facts & figures 2012
Area
160 km²
Capital
Vaduz
Liberal economic policies
Population
36’838
Stable social, legal and economic conditions
State form
constitutional hereditary
Direct access to two markets
(Europe and Switzerland)
Moderate company taxation, simple fiscal monarchy on a democratic and
system (flat tax)
Liberal corporate law
Solid public financial policy
AAA rating
Swiss franc as legal tender
Excellent infrastructure
parliamentary basis
Parliament
25 Members of Parliament
Government
5 Members of Government
Currency
Swiss franc
Gross domestic
product
CHF 5.2 billion (2011)
Number of jobs
35’829
Financially strong public sector
Proportion of
52 %
Promotion of research and development
cross-border
Minimal bureaucracy means flexibility and fast decision-making
commuters
business
in liechtenstein
Welcome to Liechtenstein
H.S.H. Hereditary Prince
Alois of Liechtenstein
Liechtenstein enjoys a unique position as a business location.
Situated at the heart of Europe, our country
We strive to keep the state apparatus as stream-
offers direct access to two economic areas: the
lined as possible in order to maximise efficiency.
European Union and Switzerland. Prosperity and
Regulation is imposed only where necessary,
stability, high living standards and, above all, a
leaving companies free to do business.
business-friendly environment make it possible
for companies to blossom. Liechtenstein has
Convincing arguments for choosing Liechtenstein!
much to offer foreign enterprises. As well as
attractive corporate taxation and liberal labour
laws, we are also home to a motivated and highly
qualified workforce. More important, indeed
decisive, is the fact that Liechtenstein lives the
Since 15 August
principle of free enterprise. Here, achievements
2004, Hereditary
are recognised and appreciated.
Prince Alois has
assumed all national
and international
responsibilities
incumbent to the
head of state. After
completing his
officer’s training at
the Royal Military
Academy Sandhurst
(UK), Hereditary
Prince Alois studied
law at the Univer
sity of Salzburg
before working at
an auditing company
in London.
H.S.H. Hereditary Prince Alois of Liechtenstein
5
Thomas Zwiefelhofer
Liechtenstein’s economic policy can be summed up in three words: liberal,
business-friendly and reliable. These principles form the foundation for a strong
business location with charisma.
A flourishing economy does not develop by itself.
We want Liechtenstein to remain a good loca-
Its roots lie in a number of factors linked to the
tion for entrepreneurs. The state sees itself as a
location and its framework conditions. Such fac-
service provider and offers companies options
tors include non-discriminatory access to regio
instead of restrictions. Our government aims
nal and global markets, fast decision-making
to maintain and improve the country’s strong
with minimal bureaucracy, and the promotion
framework conditions and location-related
of research and innovation. But the education
factors.
system, transport infrastructure, a reliable social
security system, a stable political environment
Liechtenstein is worth it!
and an attractive fiscal climate also contribute to
economic strength.
Liechtenstein offers all these factors, making it a
good location for entrepreneurs. Besides its many
small and medium-sized enterprises, the country
Thomas Zwiefelhofer
is also home to large industrial companies with
Deputy Prime Minister
an international focus. Many of these global
Minister for Home Affairs, Justice
players are worldwide market leaders and at the
and Economic Affairs
forefront of technological progress in the niche
industries where they compete successfully on an
international level.
business
in liechtenstein
Welcome to Liechtenstein
Welcome to Liechtenstein
A stable and diverse business location between Austria and Switzerland home to
4‘000 active companies – this is Liechtenstein.
The Principality of Liechtenstein measures just
At the heart of the action
160 km but has employees from over 100 coun-
The country’s small size means that Liechten-
tries working towards its economic success. Local
stein is accustomed to its position between two
residents are joined every day by large numbers
economic areas. Liechtenstein’s population is
of commuters travelling over the border from
highly cosmopolitan – after all, the Principality
southern Germany, Vorarlberg and Switzerland.
lies at the heart of Europe. Diverse landscape is
The attractive labour market creates optimal
complemented by proximity to Zurich, Inns-
2
conditions by catering for the needs of both
bruck, Milan and Munich, meaning residents can
companies and their employees. Start-ups
take decisions on business meetings or last-
benefit from a business-friendly climate with
minute holidays on the spur of the moment.
low levels of regulation and an attractive fiscal
policy, while the University of Liechtenstein
Sustainability and value
welcomes students from around the world
As well as large industrial companies, Liechten
studying subjects including Entrepreneurship
stein is also home to many SMEs active in the
and Business Economics.
craft sector, manufacturing sector, service
sector and financial service sector. Since it has
no natural resources, Liechtenstein’s people,
quality of life and attractive economic conditions
are its resources. Liechtenstein strives to achieve
sustainable growth in innovative sectors that
generate value while keeping emissions to a
Liechtenstein’s
economy is domi
nated by small and
medium-sized
enterprises. In
2012, just 17 of the
country’s 4‘097
companies employed more than 250
members of staff,
while 3‘934 companies had fewer than
50 workers.
minimum.
7
Central location
Stuttgart
270 km
Principality
of Liechtenstein
D
Munich
240 km
Lake Constance
Basel
190 km
Zurich
110 km
Innsbruck
170 km
A
Bern
230 km
I
CH
Milan
250 km
business
in liechtenstein
State and security
9
Stable, secure, debt-free
When it comes to Liechtenstein, the word “small” only applies to the country’s
geographical size. The state system works in a similar way to those of other
European countries, albeit in a quicker, simpler and more direct way. Nonetheless,
there is indeed one way in which Liechtenstein is different: instead of debts, the
state has financial reserves.
The Principality of Liechtenstein is a constituti-
Safety first
onal hereditary monarchy on a democratic and
Liechtenstein is one of Europe’s safest coun-
parliamentary basis. Through direct democracy
tries. The police force and other institutions
the power of the state is divided between the
such as the firefighting services, diverse emer-
head of state, Prince Hans-Adam II of Liechten
gency services and civil protection services
stein, and the people. The sixth-smallest country
cooperate on a regional and international level
in the world, it is made up of eleven municipa-
in order to keep Liechtenstein and its citizens
lities. The parliament comprises 25 members
safe.
elected by the people. It is responsible for nominating the government, which has five members
and is confirmed by the Prince.
Debt-free
These days there are very few countries that
can claim to be debt-free. Liechtenstein is one
of them. The state has no debts; instead, it has
large financial reserves that have been accumulated thanks to the state’s budgetary discipline.
These reserves ensure a financially strong public
sector. Stability is guaranteed through continuity, social, legal and economic conditions, a
liberal economic policy and the Swiss franc as
legal tender. In 2014 Standard & Poor’s confir-
Liechtenstein’s
capital, Vaduz, has
5‘200 inhabi-
med Liechtenstein’s AAA rating and underlined
tants. Schaan, the
the country’s stable outlook.
largest municipality, is home
to 5‘900 people.
Between 1911 and
2012 the country’s
population more
than quadrupled,
increasing from
8‘693 to 36‘838
inhabitants.
business
in liechtenstein
The Princely House
Tradition and
entrepreneurship
The Princely House has a long tradition of entrepreneurship. The House is
not funded by the state – the members of the Princely Family are successful
entrepreneurs.
Prince Hans-Adam II of Liechtenstein is not only
A long history
head of state but also, together with his family, a
The Liechtenstein Family has a long history.
successful businessman. The most well-known
It is believed that the name “Liechtenstein”
of the Princely Family’s companies is the LGT
– which is first mentioned in 1136 – originates
Group, an international company active in the
from Liechtenstein Castle to the south of Vienna.
field of private banking and asset management.
In 1608 Karl of Liechtenstein was raised to the
The Foundation Prince Liechtenstein is respon-
hereditary rank of Prince; in 1719 the family
sible for one of the world’s most important art
gained property with imperial immediacy and
collections as well as firms active in real estate,
thereby received a seat in the Imperial Coun-
farming and forestry. Further assets in the head
cil of Princes. This was possible thanks to the
of state’s business portfolio include vineyards,
purchase of Lordship of Schellenberg (1699) and
an electricity plant and innovative agricultural
the County of Vaduz (1712), the two regions which
companies.
form the modern-day Principality of Liechten
stein. Vaduz Castle, which dates back many
centuries, became the official residence of the
Princely Family in 1938 and continues to tower
The Princely
House makes an
important contribution to a healthy
governance and
efficient communication of
knowledge with
its Liechtenstein
Foundation for
State Governance.
In addition, the
Princely House
cooperates with
the University of
Princeton, USA, on
the Liechtenstein
Institute on SelfDetermination.
over the capital Vaduz today.
11
business
in liechtenstein
Gross value added
Gross value added is the total value of all goods
and services which are consumed, used or trans-
and services, minus intermediate consumption.
formed during the production process.
Intermediate consumption refers to the goods
Agriculture and
households 8 %
37 % Industry and
manufacturing
Financial
services 27 %
Liechtenstein in Figures 2014, figures 2011
28 % Services
Industry in Liechtenstein
13
Diversification is reality
Liechtenstein is a highly industrialised country. Around 40 % of the workforce is
employed in the industrial sector. Industry and manufacturing produce roughly
37 % of the country’s gross value added.
It is easy to come up with a list of major compa-
its coating technology to the whole world, too. It
nies based in Liechtenstein. Vehicle manufactu-
is used among others in automotive, aeronauti-
rers, optics companies, established businesses
cal engineering and in the medical field. Indeed,
and well-known firms such as Hilti all call the
almost all of us have come into contact with this
Principality home. From global players to fami-
technology from Liechtenstein. In the packaging
ly-run companies and small-scale enterprises,
industry, a large part of all caps used for PET
they all contribute to Liechtenstein’s success as
bottles are manufactured using moulds lined
a business hub.
with a coating made by Oerlikon Balzers. Hoval
has been an expert for indoor climate conditio-
Inspirational stories
ning for over 65 years and exports its heating,
Liechtenstein’s largest and best-known machi-
cooling and ventilation technology to over 50
ne manufacturing company is Hilti, which has
countries. The fresh convenience food products
its headquarters in Schaan. Hilti offers products
made by Hilcona are to be found in the industry
and services for the professional construction
as well as at retailers across Europe. The Herbert
industry, is present in over 120 countries and
Ospelt Group also works in the food industry and
employs around 21‘000 people worldwide.
produces frozen pizzas, charcuterie products and
Liechtenstein is also a popular base for compa-
pet food for the European market. Hilti, Hoval,
nies in the automotive industry. ThyssenKrupp
Hilcona and Ospelt – all family-run companies
Presta is one of the world’s leading manufactur-
from Liechtenstein.
ers of steering systems and market leader in the
field of forging. Ivoclar Vivadent, one of the top
producers of products and systems for dentists
Compared with
other countries,
and dental technicians, exports its products to
Liechtenstein has
around 120 countries. Oerlikon Balzers delivers
a large proportion
of workers in the
industrial sector.
While in Switzer
land 21.4 %, in
Austria 25.9 % and
in Germany 28.2 %
of employees work
in industry, in
Liechtenstein it is
39.4 %.
business
in liechtenstein
Liechtenstein’s position as a financial centre
A professional, stable and
innovative financial centre
Liechtenstein’s first bank was founded in 1861. Since then the financial sector
has developed to become one of the most important pillars of the country’s
economy, second only to industry.
Liechtenstein is a highly specialised and stable
AAA country rating
financial centre with strong international
Standard & Poor’s views Liechtenstein as a stable
connections. Its financial service providers enjoy
and secure financial centre and confirmed the
complete freedom to provide services through
country’s AAA rating in 2014. Liechtenstein also
out all EEA states. The Principality has committed
receives top marks in the Banking Industry
itself to the OECD standard for transparency and
Country Risk Assessment (BICRA), together with
exchange of information and has an effective
countries such as Luxembourg, Austria, Hong
system for combating money laundering and
Kong and Singapore.
the financing of terrorism. But it is not only
In 2012, Liechtenstein’s banks
managed customers’
assets amounting
to CHF 118.4 billion
and employed 2‘059
workers in the Principality. The balance
sheet total was CHF
55.9 billion.
banks that find Liechtenstein an attractive busi-
Value added
ness location. Many insurance firms and asset
The high level of value created by
management companies as well as the fund and
Liechtenstein’s financial sector is reflected
trust industry also benefit from the advantages
in the country’s gross domestic product. The
Liechtenstein has to offer. Supervision is carried
financial sector accounts for around 27 % of
out by the internationally recognised Financial
Liechtenstein’s GDP and employs 5‘000 wor-
Market Authority Liechtenstein.
kers, equivalent to 16 % of the total workforce.
15
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in liechtenstein
Liechtenstein’s business advantages
17
Entrepreneurship pays
Companies in Liechtenstein develop, produce and sell leading products and
services across the world. In Liechtenstein, entrepreneurship pays. The country
offers excellent framework conditions for businesses.
The decision to become an entrepreneur
all year round in Buckingham Palace thanks to
depends on many factors. One of the motiva-
a heating and ventilation system developed by
tions to do so is a society which respects the
Hoval from Vaduz. All three of these companies
work that goes into building up a business and
have one thing in common: they are innovative
creates conditions to ensure that this hard work
Liechtenstein businesses that successfully com-
is financially rewarded. Entrepreneurship is a
pete in global markets.
major part of Liechtenstein. Entrepreneurs are
forward-looking, pioneering and decisive – pre-
Extraordinary and exceptional
cisely the qualities that also guide Liechtenstein
Liechtenstein offers extraordinary people with
as a country.
exceptional ideas a place to flourish. It is no
coincidence that companies from Liechtenstein
AC/DC, Angela Merkel and Queen Elizabeth
are successful global players in niche markets.
Products from Liechtenstein make the lives of
The country offers attractive framework condi-
Angela Merkel, AC/DC and Queen Elizabeth a
tions and growth perspectives.
little easier and more comfortable. The state
limousine used by the German chancellor uses
a steering system developed by ThyssenKrupp
Presta from Liechtenstein. Fans of AC/DC can
listen to their music thanks to connecting plugs
developed by Neutrik from Schaan. And Queen
Elizabeth enjoys ideal indoor climate control
In 2012, Liechtenstein had a population of 36‘838
inhabitants and
was home to 4‘097
companies. That is
equivalent to one
company for every
nine inhabitants.
In Switzerland this
ratio was 1:14 in
2011, in Germany it
was 1:22.
business
in liechtenstein
Liechtenstein’s exports
Direct goods exports and direct goods imports
with Switzerland, trade with and via Switzerland
between 2003 and 2012 are shown without
is not shown.
services. Due to the customs and currency union
in millions
of CHF
5‘000
4‘000
3‘000
2‘000
1‘000
0
2003
2004
2005
Goods exported
Liechtenstein in Figures 2014
2006
2007
2008
Goods imported
2009
2010
2011
2012
Access to two markets
19
At the heart of two
economic areas
As a small state with a very limited domestic market, it was always clear for
companies based in Liechtenstein that they would need to look abroad in order to
be successful in the long term. Through a series of agreements the country has
created optimal conditions for an export-oriented economy.
Liechtenstein has been a member of the Euro
government and S-GE in 2011 it was established
pean Economic Area (EEA) since 1995. Com-
that S-GE is responsible for providing compa-
panies based in the Principality benefit from
nies with initial information and professional
the advantages of the free movement of goods,
support on issues concerning export. This service
persons, services and capital within the EU/EEA
includes everything from information gathering
single market. Due to Liechtenstein’s exceptio-
to generating first-class business contacts.
nal geographic situation there are special provisions in place on the free movement of persons
and the freedom of establishment. Liechtenstein
is also a member of the European Free Trade
Association (EFTA) and profits from one of
the biggest networks of free trade agreements
International agreements
1995
(EEA) on 1 May, accession to World
worldwide. Back in 1923, Liechtenstein signed a
Trade Organisation (WTO) on
treaty with Switzerland that extended the Swiss
1 September
customs area to include Liechtenstein. Via this
agreement, the bilateral free trade agreements
Accession to European Economic Area
1991
Full membership of European
Free Trade Association (EFTA)
concluded by Switzerland also apply to Liechtenstein in terms of the movement of goods.
1990
Accession to United Nations (UN)
Liechtenstein furthermore uses the Swiss franc
1978
Accession to Council of Europe
1975
Signing of Helsinki Final Act of
as its currency.
Liechtenstein as an exporting nation
Liechtenstein promotes entrepreneurship. In
order to grant companies, in particular start-ups
and SMEs, easy access to international markets,
they are supported by the organisation Switzerland Global Enterprise (S-GE, previously OSEC).
In a performance agreement signed between the
CSCE (today OSCE)
1950
Accession to Statute of International
Court of Justice (ICJ)
1923
Signing of Customs Treaty with
Switzerland
business
in liechtenstein
The fiscal system
Simple, fair, modern
Simple, fair and modern – those are the characteristics that describe
Liechtenstein’s fiscal system. Work must be rewarded and capital must be
available for investment, growth and research and development activities.
In Liechtenstein, companies are only taxed on
Private individuals
income and real estate gains. The country’s tax
Private individuals also pay taxes in Liechten-
laws are adapted to meet the respective econo-
stein. Self-employed and employed workers
mic and legal framework conditions at home and
are subject to a progressive tax rate with eight
abroad. This international compatibility ensures
tax bands varying between 3 % and 24 % depen
that Liechtenstein offers an attractive fiscal
ding on the level of income. This tax rate is
system now and in the future. A flat income tax
very favourable compared with other business
rate of 12.5 % applies to companies, meaning
locations and financial centres. Workers living
that Liechtenstein has a simple, transparent and
outside Liechtenstein are taxed depending on the
competitive tax regime for industrial companies,
double taxation agreement with their country of
financial firms and other service providers as
residence. At the start of 2014 Liechtenstein had
well as holdings and commercial businesses.
double taxation and tax information exchange
agreements with 37 countries, including Germany,
Switzerland, Austria and the United States of
America.
Liechtenstein’s
customs union
with Switzerland means that
it also shares
Switzerland’s low
VAT rate of 8 %.
Certain tasks such
as the taxation
of alcohol and
tobacco or the
issuing of patents
are carried out for
Liechtenstein by
Switzerland.
21
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in liechtenstein
Business-friendly labour laws
23
Work makes life sweet
Liechtenstein’s liberal labour laws give companies the flexibility to react to
sudden changes in core markets. For workers, Liechtenstein offers challenging
positions, attractive working conditions and excellent opportunities to develop
and progress.
Liechtenstein is a labour miracle. The country
A genuine partnership
has almost as many jobs as inhabitants. That is
In Liechtenstein there is a genuine partner-
why 52 % of the current workforce live outside
ship between bodies representing employers
Liechtenstein and commute over the border
and those representing workers, meaning that
every day. Dream jobs in the field of industry,
strikes are not part of the working culture and
finance or manufacturing attract talented people.
trade union organisation is traditionally limited.
Liechtenstein’s companies offer an interesting
Collective employment agreements setting out
location with plenty of perspectives, giving them
provisions on issues such as minimum wages or
a good position in the fight for the most highly
holiday entitlements are negotiated at regular
qualified workers.
intervals. The Liechtenstein Workers Association, the Chamber of Economy and the Liechten-
Business-friendly labour laws
stein Chamber of Industry and Commerce are
Liechtenstein offers good labour conditions for
involved in these negotiations. Unlike in other
companies. Low indirect labour costs make
countries, the right to participation is imple-
Liechtenstein an attractive place to do business,
mented in a business-friendly way. Employers
while long working hours compared to other
must inform and consult their employees about
European countries ensure high productivity.
all major incidents, news and changes in certain
The maximum weekly working time is 45 hours
domains.
for workers in the industrial sector and 48 hours
for workers in all other sectors.
Liechtenstein has
seen rapid development as a business
hub. In 1930 the
Principality had
4‘586 jobs. In 2012
this number had
increased almost
eightfold to 35‘829.
Unemployment
is extremely low:
in 2012 just 2.3 %
of the population
was registered as
unemployed.
business
in liechtenstein
Research and development location
Promoting research
and development
In the long term, technical progress and technology-driven innovation are the
key to increasing competitiveness and boosting growth. Liechtenstein promotes
innovation of its companies through specific measures.
The Alpine Rhine Valley is already one of the
most highly industrialised regions in Europe.
Liechtenstein’s companies are highly innovative.
The governments of the Principality of Liechten-
In order to ensure that they remain so in the
stein and the Swiss canton of St. Gallen continue
future, the state supports innovation. Therefore,
to strengthen regional companies’ capacity for
Liechtenstein’s tax laws contain special provi-
innovation via the Rhine Valley research and in-
sions for income generated through intellectual
novation centre “RhySearch”. This project aims
property (e.g. patents, licenses, brands). While
to increase the competitiveness of business in
income generated by businesses is normally
the region, in particular SMEs, by creating closer
subject to a flat tax rate of 12.5 %, revenue from
links between industry and research.
intellectual property rights is 80 % tax-free.
Strong innovation
With its Europe 2020 strategy, the European
Union aims, among other things, to increase the
speed of innovation and the productivity of its
member states. Goals include investing 3 % of
the EU’s GDP in research and development. In
2011, industrial companies associated with the
Liechtenstein chamber of industry and commerce invested around CHF 370 million in research
and development activities in Liechtenstein –
equivalent to over 7 % of the country’s GDP.
Liechtenstein’s
industrial companies invest heavily
in research and
development. In
2011 they spent
CHF 370 million
(equivalent to over
7 % of the country’s
GDP) on research
and development
activities.
State support
25
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in liechtenstein
Infrastructure
27
It works
Liechtenstein’s citizens love travelling and sport. Cross-border travel
connections, cycle paths to work and a wide range of sporting and cultural
activities contribute to a high level of well-being.
Liechtenstein’s transport network has to satisfy
Always on the move
a wide range of demands. Around 19‘000 workers
As well as getting from A to B as easily and
commute over the border to Liechtenstein every
efficiently as possible, people in Liechtenstein
day. Efficient transport management, high
also place great value on sport and culture. The
safety levels, a good infrastructure and a diverse
country is home to a wide range of clubs and
selection of public transport options are of great
associations covering many activities and hobbies.
importance. LieMobil runs a large public bus
Sports enthusiasts can enjoy indoor swimming
network that covers both Liechtenstein’s muni
pools, an outdoor pool, a swimming lake, indoor
cipalities and all surrounding train stations in
tennis courts, a squash court, a selection of
Switzerland and Austria. Liechtenstein also has
sports halls, football pitches, fitness trails, ski
a comprehensive 350 km network of cycle paths
lifts and cross-country skiing runs as well as
stretching from the mountains to the valley
countless other facilities. Those with an interest
floor.
in culture will find a selection of museums,
theatres and concerts.
Liechtenstein is
located at the heart
of Europe. Zurich
and its interna
tional airport can
be reached in just
one hour. Bregenz,
home of the famous
Bregenz Festival,
is 30 minutes away.
Shopping trips to
Milan or business
meetings in Munich
are possible in two
hours.
business
in liechtenstein
Education
29
Training for the future
Despite its size, Liechtenstein has an excellent education system that is very
important to the country’s citizens. Continuing education and further training
at the highest level guarantee innovation in industry, state and society.
Liechtenstein offers a wide range of educational opportunities.
Liechtenstein has an excellent education system
More education
that has repeatedly achieved top marks in the
The University of Liechtenstein offers courses
PISA study. After completing their mandatory
in Entrepreneurship, Business Informatics,
school education, youngsters can choose to pur-
Banking and Financial Management, Business
sue an academic or a vocational path. Those who
Economics and Architecture. Its strong inter-
choose the academic route receive a school-lea-
national orientation is underlined by the fact
ving qualification that entitles them to study not
that it has students and lecturers from over 40
only at the University of Liechtenstein but also
countries and shares partnerships with more
at all universities in Switzerland and Austria.
than 70 universities across the world. Other
Liechtenstein is among the countries with the
education institutions include the Liechtenstein
lowest rates of youth unemployment in Europe,
Institute, the Private University in the Principality
thanks in part to the high-quality education and
of Liechtenstein and the International Academy
training available.
of Philosophy. Within a radius of 70 km there
are a number of well-known universities, among
International
them the University of St. Gallen. The Univer-
The International School Rheintal just over the
sity of Applied Sciences of Eastern Switzerland
Swiss border in Buchs also plays an important
also runs a number of education facilities near
role in Liechtenstein’s education system. It
to Liechtenstein, such as the NTB Interstate
teaches children from kindergarten through to
University of Applied Sciences of Technology
the International Baccalaureate (IB) in English
Buchs, offering study programmes in a range of
and is supported by Liechtenstein’s government
subjects.
and industry. Thanks to its location near the
Swiss border, the school can be easily reached
from Liechtenstein.
As a member of
the European Economic Area (EEA),
Liechtenstein
participates in the
EU’s education
programmes,
giving those who
have completed
training programmes the chance to
gather experience
abroad.
business
in liechtenstein
Living in Liechtenstein
An oasis of well-being
Liechtenstein offers an extraordinary quality of life for everyone from nature
enthusiasts and culture lovers to families. As well as an attractive range of
leisure activities, families also benefit from government support to make it
easier to combine home life and career.
Liechtenstein offers a wide range of leisure acti-
Family matters
vities for all the family. Those who like to be out
Family life is very important in Liechtenstein.
in the fresh air can enjoy more than 400 km of
The holiday region of Malbun has received the
well-signposted hiking trails during the summer
Families Welcome Award accorded by the Swiss
months as well as skiing and snowboarding in
Tourist Board, while Liechtenstein’s government
Malbun in winter. Untouched nature and a host
supports families through direct and indirect
of leisure facilities and activities make Liechten-
financial means (childbirth allowance, child
stein the ideal place for residents of all ages to
benefit payments, rent subsidies, etc.) as well as
enjoy their free time to the full.
by providing tax breaks for families and childcare subsidies. Childminders and other childcare
Art and culture
facilities are available. Afternoon activities are
Just as diverse as the country’s flora and fauna
also provided for children attending kindergar-
is the selection of cultural activities on offer in
ten or school. In recent years Liechtenstein’s
Liechtenstein. The Museum of Fine Art regu-
childcare infrastructure has been significantly
larly hosts temporary exhibitions showing the
expanded in order to make it easier to combine
works of internationally renowned artists. The
family and career.
National Museum tells the history of Liechtenstein, while the TAK Theater Liechtenstein puts
on plays, dance, stand-up comedy, readings and
music.
From work to
nature in just
five minutes.
Hiking and skiing
practically on your
doorstep. Art, culture and fine food
on every corner.
The flair of city
life just over the
border. Welcome
to Liechtenstein!
31
business
in liechtenstein
Legal forms
Public limited
Minimum capital volume required: CHF 50‘000
company
Liability limited to assets of company
Mandatory bookkeeping and audits
Public annual reports
Legal form well-known internationally
Minimum capital volume required: CHF 30‘000
Liability limited to equity of establishment
Mandatory bookkeeping
Mandatory audits for companies run along commercial lines
Non-public annual reports
Establishment
Legal form little known internationally
Limited liability
Minimum capital volume required: CHF 30‘000
company
Shareholders liable up to a pre-determined sum
Mandatory bookkeeping
Mandatory audits for companies run along commercial lines
Legal form well-known internationally
Publicly registered stakeholders
No minimal capital volume required
Unlimited liability with privately held assets
Mandatory bookkeeping if gross turnover exceeds CHF 10’000
Simple to found
Low foundation costs
Individual enterprise
Founding a company
33
Become an entrepreneur
It is very easy to found a company in Liechtenstein. Anyone, regardless of
citizenship, can create a business in Liechtenstein. The approval process takes
less than a week.
There is almost nothing easier than founding a
Taking on staff
company in Liechtenstein. In order to receive
Despite the fact that many people who work
the necessary approval to conduct business,
in Liechtenstein live abroad, taking on emplo-
applicants must among other things name a
yees living in the surrounding border regions
managing director who fulfils the necessary
is simple and unbureaucratic. Swiss citizens
criteria. This can mean, for example, someone
do not require a permit issued by the immi
with the appropriate qualifications in the rele-
gration authorities and do not have to register
vant field who can be physically present in the
in Liechtenstein. Workers from EEA states must
company.
be registered with the Migration and Passport
Office, which will issue a document confirming
One stop shop
their status as cross-border commuters. Citizens
The point of single contact at the Office of
of other countries must apply to become cross-
Economic Affairs accompanies budding entre-
border commuters. This status as a cross-border
preneurs step by step through the process of
commuter from a third country is valid for a year
founding a company. This service is available not
and is also issued by the Migration and Passport
only to industrial and manufacturing companies
Office.
but also to firms operating in fields requiring
special permission (banking firms, medical
practices, etc.), providing competent support to
ensure that everything runs smoothly.
business
in liechtenstein
Important addresses
Contact details
LAFV, Liechtenstein Investment Fund Association
T +423 230 07 70, [email protected]
Medical Association Liechtenstein
T +423 370 20 30, [email protected]
Liechtenstein Bankers Association
T +423 230 13 23, [email protected]
Ernst Risch
Managing Director
Liechtenstein Marketing
Äulestrasse 30
9490 Vaduz
T +423 239 63 60
[email protected]
Association of Liechtenstein Charitable
Foundations
T +423 399 19 11, [email protected]
LHGV, Liechtenstein Hotel and Gastronomy
Association
T +423 380 08 44, [email protected]
LCCI, Liechtenstein Chamber of Commerce
and Industry
T +423 237 55 11, [email protected]
University of Liechtenstein Centre for SMEs
T +423 265 12 75, [email protected]
Liechtenstein Chamber of Lawyers
T +423 232 99 32, [email protected]
Liechtenstein Institute of Professional Trustees
and Fiduciaries
T +423 231 19 19 , [email protected]
Christian Hausmann
Head of Office
Office of Economic Affairs
Visitors’ address: Haus der Wirtschaft
Poststrasse 1
9494 Schaan
T +423 236 68 80
[email protected]
LVU, Liechtenstein Association of
Business Consultants
T +423 399 30 39, [email protected]
VuVL, Association of Independent Asset Managers
in Liechtenstein
T +423 388 23 50, [email protected]
LVV, Liechtenstein Insurance Association
T +423 237 47 77, [email protected]
Contact for
founding a company
Liechtenstein Chamber of Trade and Commerce
T +423 237 77 88, [email protected]
Single point of contact
Visitors’ address: Haus der Wirtschaft
Poststrasse 1
9494 Schaan
T +423 236 69 96
[email protected]
WPV, Liechtenstein Association of Auditors
T +423 233 29 20, [email protected]
35
Imprint
Publisher
Liechtenstein Marketing, Äulestrasse 30, Postfach 139, 9490 Vaduz, Liechtenstein, T +423 239 63 63,
[email protected], www.liechtenstein-business.li, www.liechtenstein.li
Copyright
© Liechtenstein Marketing, June 2014
Photo credits
Page 5: Government of the Principality of Liechtenstein, Vaduz. Page 16: Ultralight AG, Schaanwald. Page 18: Hoval Aktiengesellschaft, Vaduz.
Page 25: Optics Balzers AG, Balzers. All other pictures are from Roland Korner, Close up AG, Triesen and from the photo pool of Liechtenstein Marketing.
Layout
DACHCOM.LI AG, Schaan
Printed by
BVD Druck+Verlag AG, Schaan
Liechtenstein Marketing acted with the necessary care and attention when creating and publishing this brochure. Nevertheless, this brochure may include inexact
information, incomplete information or typographical mistakes, for which Liechtenstein Marketing assumes no liability. No guarantee or assurance is given concerning
the use, validity, correctness and reliability of the facts, statements or information contained in this brochure. Liechtenstein Marketing shall not accept any liability
for any damage that may arise from use of this brochure. Information contained in this brochure may be changed, reproduced (in any form) or re-utilised only with the
express permission of Liechtenstein Marketing.
Liechtenstein Marketing
Äulestrasse 30
Postfach 139
9490 Vaduz
Liechtenstein
T +423 239 63 63
[email protected]
www.liechtenstein-business.li