Since 2002, the book Companies and Taxes in Liechtenstein by Marxer & Partner Rechtsanwälte has provided valuable guidance on Liechtenstein law. It was republished in 2009 under the title Liechtenstein Business Law and comprehensively revised in 2021, incorporating chapters on the GDPR, the Notaries Act, and blockchain legislation. It is regarded as a “compass of Liechtenstein law” (Manz-Verlag) and a well-founded tour d’horizon of the Liechtenstein legal system (J. Nagel in the LJZ).
The articles in this compendium are primarily written by authors from Marxer Attorneys. As covering all areas of law would go beyond the scope of a blog, the topics discussed have been carefully selected:
Since its comprehensive revision in 2009, Liechtenstein foundation law has provided maximum flexibility for customized solutions, particularly for asset-managing and multi-generational foundations. Unlike in Austria, Liechtenstein private-benefit foundations enjoy extensive autonomy and are not subject to comprehensive official supervision. The fiduciary establishment of foundations allows economic responsibility to remain directly with the beneficiaries.
Liechtenstein trust law blends continental European and Anglo-American legal traditions, offering a high degree of flexibility for trust structures. It enables tailored solutions for asset management and succession planning while ensuring international compatibility. Notably, Liechtenstein is the only continental European country with an independent statutory trust regime.
This chapter covers trademark, design, and copyright law in Liechtenstein, which is largely based on Swiss law. Patent disputes are directly referred from the Princely High Court to the Swiss Federal Supreme Court.
This chapter examines banking, asset management, fund, and insurance law, which have grown more complex due to European regulations. A key highlight is the TVTG, which positions Liechtenstein as a pioneer in blockchain and crypto regulation. The abstraction principle for tokens, as outlined in the TVTG, establishes a new legal framework that revolutionizes digital assets. The TVTG enables secure blockchain business models and could serve as a model for other countries.
Liechtenstein continually adapts its due diligence law to meet international standards, particularly in combating money laundering and terrorist financing. The Fifth EU Money Laundering Directive and the Act on the Register of Beneficial Owners (VwbPG) enhance transparency. Liechtenstein has received positive ratings from Moneyval, affirming the international recognition of its due diligence regulations.
This chapter describes Liechtenstein’s legal system as a hybrid of Austrian and Swiss law. The Civil Code, as well as laws governing succession and obligations, originate from Austria, whereas property law (SR) is based on Swiss civil law. This blend results in a unique legal system requiring in-depth knowledge of both traditions, reinforcing the importance of this compendium as an essential guide.
Enforcement law was amended in 2019/21 to enhance efficiency and flexibility. The reform of bankruptcy law, which took effect on January 1, 2021, introduced a restructuring plan for companies and a debt settlement procedure for private individuals. These reforms provide a modern legal framework for debt relief and corporate reorganization.
Since joining the EEA in 1995, Liechtenstein has benefited from access to the EU internal market and is subject to EFTA jurisdiction. This chapter explores the impact of EEA law on national legislation, as well as Liechtenstein’s participation in the Schengen and Dublin agreements. The GDPR, one of the most significant and far-reaching legal instruments in this area, has been pragmatically implemented by the Liechtenstein Data Protection Authority. A checklist for GDPR compliance is also included.
This chapter distinguishes between Liechtenstein lawyers, EEA nationals, Swiss nationals (under the Vaduz Convention), and European lawyers. It highlights the protection of attorney-client privilege under criminal law and the right to defense in legal proceedings. Additionally, Liechtenstein lawyers can act as trustees and notaries, provided they have passed the requisite examinations.
This compendium provides foreign legal practitioners with a well-founded overview of Liechtenstein business law and offers valuable insights for professionals working in the country.
The chapters on Foundation Law, Trust Law, and Tax Law – which are likely the most relevant to clients – have also been published as separate brochures. These are available free of charge in print and can be downloaded as PDFs from the firm’s website. The book itself is available in bookshops or in the Manz online shop in both German (ISBN 978-3-214-02575-5) and English (ISBN 978-3-214-02579-3).
Category: Specialist Publications
Since 2002, the book Companies and Taxes in Liechtenstein by Marxer & Partner Rechtsanwälte has provided valuable guidance on Liechtenstein…
