Business in Liechtenstein

liechtenstein.marketing

As a business location, Liechtenstein has much to offer. Known is the stable and innovative financial centre. However, the large, well-diversified industrial sector is still to be discovered. Both sectors benefit from the numerous advantages that Liechtenstein as a business location offers. Two markets (EEA and Switzerland), stability, a simple, contemporary tax system and an environment in which entrepreneurship is worth it: All this contributes to the success of a company in Liechtenstein. The new brochure “Business in Liechtenstein” offers more information about the various location advantages of the country.

Business

in Liechtenstein


usiness

in liechtenstein

Overview

3

Important information

at a glance

The Principality of Liechtenstein is an excellent business location offering

a wide range of benefits for companies.

Table of contents

Important information at a glance 3

Foreword 4

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

High level of political continuity and stability

Strong business diversification

Direct access to two markets

(Europe and Switzerland)

Liberal economic policies

Stable social, legal and economic conditions

Moderate company taxation, simple fiscal

system (flat tax)

Liberal corporate law

Solid public financial policy

AAA rating

Swiss franc as legal tender

Excellent infrastructure

Minimal bureaucracy means flexibility and

fast decision-making

Financially strong public sector

Promotion of research and development

Facts & figures 2012

Area

160 km²

Capital

Vaduz

Population 36’838

State form constitutional hereditary

monarchy on a democratic and

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

Proportion of 52 %

cross-border

commuters


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Welcome to Liechtenstein

5

H.S.H. Hereditary Prince

Alois of Liechtenstein

Thomas Zwiefelhofer

Liechtenstein enjoys a unique position as a business location.

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.

Situated at the heart of Europe, our country

We strive to keep the state apparatus as stream-

A flourishing economy does not develop by itself.

We want Liechtenstein to remain a good loca-

offers direct access to two economic areas: the

lined as possible in order to maximise efficiency.

Its roots lie in a number of factors linked to the

tion for entrepreneurs. The state sees itself as a

European Union and Switzerland. Prosperity and

Regulation is imposed only where necessary,

location and its framework conditions. Such fac-

service provider and offers companies options

stability, high living standards and, above all, a

leaving companies free to do business.

tors include non-discriminatory access to regio-

instead of restrictions. Our government aims

business-friendly environment make it possible

nal and global markets, fast decision-making

to maintain and improve the country’s strong

for companies to blossom. Liechtenstein has

Convincing arguments for choosing Liechtenstein!

with minimal bureaucracy, and the promotion

framework conditions and location-related

much to offer foreign enterprises. As well as

of research and innovation. But the education

factors.

attractive corporate taxation and liberal labour

system, transport infrastructure, a reliable social

laws, we are also home to a motivated and highly

security system, a stable political environment

Liechtenstein is worth it!

qualified workforce. More important, indeed

and an attractive fiscal climate also contribute to

decisive, is the fact that Liechtenstein lives the

H.S.H. Hereditary Prince Alois of Liechtenstein

economic strength.

Since 15 August

2004, Hereditary

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 University

of Salzburg

before working at

an auditing company

in London.

principle of free enterprise. Here, achievements

are recognised and appreciated.

Liechtenstein offers all these factors, making it a

good location for entrepreneurs. Besides its many

small and medium-sized enterprises, the country

is also home to large industrial companies with

an international focus. Many of these global

players are worldwide market leaders and at the

forefront of technological progress in the niche

industries where they compete successfully on an

international level.

Thomas Zwiefelhofer

Deputy Prime Minister

Minister for Home Affairs, Justice

and Economic Affairs


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Welcome to Liechtenstein

7

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 2 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

of commuters travelling over the border from

southern Germany, Vorarlberg and Switzerland.

economic areas. Liechtenstein’s population is

highly cosmopolitan – after all, the Principality

lies at the heart of Europe. Diverse landscape is

Central location

The attractive labour market creates optimal

complemented by proximity to Zurich, Inns-

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-

be nefit 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

welcomes students from around the world

studying subjects including Entrepreneurship

and Business Economics.

Sustainability and value

As well as large industrial companies, Liechtenstein

is also home to many SMEs active in the

craft sector, manufacturing sector, service

sector and financial service sector. Since it has

no natu ral resources, Liechtenstein’s people,

Principality

of Liechtenstein

Stuttgart

270 km

D

Munich

240 km

Liechtenstein’s

economy is dominated

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.

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

minimum.

Basel

190 km

Bern

230 km

CH

Zurich

110 km

Milan

250 km

Lake Constance

A

I

Innsbruck

170 km


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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 constitutional

hereditary monarchy on a democratic and

parliamentary basis. Through direct democracy

the power of the state is divided between the

head of state, Prince Hans-Adam II of Liechtenstein,

and the people. The sixth-smallest coun try

in the world, it is made up of eleven municipalities.

The parliament comprises 25 members

elected by the people. It is responsible for nominating

the government, which has five members

and is confirmed by the Prince.

Safety first

Liechtenstein is one of Europe’s safest countries.

The police force and other institutions

such as the firefighting services, diverse emergency

services and civil protection services

coope rate on a regional and international level

in order to keep Liechtenstein and its citizens

safe.

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 confirmed

Liechtenstein’s AAA rating and underlined

the country’s stable outlook.

Liechtenstein’s

capital, Vaduz, has

5‘200 inhabitants.

Schaan, the

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.


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The Princely House

11

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.

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 Self-

Determination.

Prince Hans-Adam II of Liechtenstein is not only

head of state but also, together with his family, a

successful businessman. The most well-known

of the Princely Family’s companies is the LGT

Group, an international company active in the

field of private banking and asset management.

The Foundation Prince Liechtenstein is responsible

for one of the world’s most important art

collections as well as firms active in real estate,

farming and forestry. Further assets in the head

of state’s business portfolio include vineyards,

an electricity plant and innovative agricultural

companies.

A long history

The Liechtenstein Family has a long history.

It is believed that the name “Liechtenstein

– which is first mentioned in 1136 – originates

from Liechtenstein Castle to the south of Vienna.

In 1608 Karl of Liechtenstein was raised to the

here ditary rank of Prince; in 1719 the family

gained property with imperial immediacy and

thereby received a seat in the Imperial Council

of Princes. This was possible thanks to the

purchase of Lordship of Schellenberg (1699) and

the County of Vaduz (1712), the two regions which

form the modern-day Principality of Liechtenstein.

Vaduz Castle, which dates back many

centuries, became the official residence of the

Princely Family in 1938 and continues to tower

over the capital Vaduz today.


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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,

Gross value added

and well-known firms such as Hilti all call the

Principality home. From global players to family-run

companies and small-scale enterprises,

they all contribute to Liechtenstein’s success as

almost all of us have come into contact with this

technology from Liechtenstein. In the packaging

industry, a large part of all caps used for PET

bottles are manufactured using moulds lined

a business hub.

with a coating made by Oerlikon Balzers. Hoval

Gross value added is the total value of all goods

and services, minus intermediate consumption.

Intermediate consumption refers to the goods

and services which are consumed, used or transformed

during the production process.

Inspirational stories

Liechtenstein’s largest and best-known machine

manufacturing company is Hilti, which has

has been an expert for indoor climate conditioning

for over 65 years and exports its heating,

cooling and ventilation technology to over 50

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

Agriculture and

households 8 %

37 % Industry and

manufacturing

Liechtenstein is also a popular base for companies

in the automotive industry. ThyssenKrupp

Presta is one of the world’s leading manufacturers

of steering systems and market leader in the

pet food for the European market. Hilti, Hoval,

Hilcona and Ospelt – all family-run companies

from Liechtenstein.

Financial

services 27 %

Liechtenstein in Figures 2014, figures 2011

28 % Services

field of forging. Ivoclar Vivadent, one of the top

producers of products and systems for dentists

and dental technicians, exports its products to

around 120 countries. Oerlikon Balzers delivers

Compared with

other countries,

Liechtenstein has

a large proportion

of workers in the

industrial sector.

While in Switzerland

21.4 %, in

Austria 25.9 % and

in Germany 28.2 %

of employees work

in industry, in

Liechtenstein it is

39.4 %.


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Liechtenstein’s position as a financial centre

15

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

financial centre with strong international

connect ions. Its financial service providers enjoy

complete freedom to provide services throughout

all EEA states. The Principality has committed

itself to the OECD standard for trans parency and

exchange of information and has an effective

system for combating money laundering and

the financing of terrorism. But it is not only

banks that find Liechtenstein an attractive business

location. Many insurance firms and asset

mana gement companies as well as the fund and

trust industry also benefit from the advantages

Liechtenstein has to offer. Supervision is carried

out by the internationally recognised Financial

Market Authority Liechtenstein.

AAA country rating

Standard & Poor’s views Liechtenstein as a stable

and secure financial centre and confirmed the

country’s AAA rating in 2014. Liechtenstein also

receives top marks in the Banking Industry

Country Risk Assessment (BICRA), together with

countries such as Luxembourg, Austria, Hong

Kong and Singapore.

Value added

The high level of value created by

Liechtenstein’s financial sector is reflected

in the country’s gross domestic product. The

financial sector accounts for around 27 % of

Liechtenstein’s GDP and employs 5‘000 workers,

equivalent to 16 % of the total workforce.

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.


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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

depends on many factors. One of the motivations

to do so is a society which respects the

work that goes into building up a business and

creates conditions to ensure that this hard work

is financially rewarded. Entrepreneurship is a

major part of Liechtenstein. Entrepreneurs are

forward-looking, pioneering and decisive – precisely

the qualities that also guide Liechtenstein

as a country.

AC/DC, Angela Merkel and Queen Elizabeth

Products from Liechtenstein make the lives of

Angela Merkel, AC/DC and Queen Elizabeth a

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

all year round in Buckingham Palace thanks to

a heating and ventilation system developed by

Hoval from Vaduz. All three of these companies

have one thing in common: they are innovative

Liechtenstein businesses that successfully compete

in global markets.

Extraordinary and exceptional

Liechtenstein offers extraordinary people with

exceptional ideas a place to flourish. It is no

coincidence that companies from Liechtenstein

are successful global players in niche markets.

The country offers attractive framework conditions

and growth perspectives.

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.


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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’s exports

Direct goods exports and direct goods imports

between 2003 and 2012 are shown without

ser vices. Due to the customs and currency union

in millions

of CHF

5‘000

4‘000

3‘000

2‘000

1‘000

0

with Switzerland, trade with and via Switzerland

is not shown.

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Liechtenstein has been a member of the European

Economic Area (EEA) since 1995. Companies

based in the Principality benefit from

the advantages of the free movement of goods,

persons, services and capital within the EU/EEA

single market. Due to Liechtenstein’s exceptional

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

worldwide. Back in 1923, Liechtenstein signed a

treaty with Switzerland that extended the Swiss

customs area to include Liechtenstein. Via this

agreement, the bilateral free trade agreements

concluded by Switzerland also apply to Liechtenstein

in terms of the movement of goods.

Liechtenstein furthermore uses the Swiss franc

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

government and S-GE in 2011 it was established

that S-GE is responsible for providing companies

with initial information and professional

support on issues concerning export. This service

includes everything from information gathering

to generating first-class business contacts.

International agreements

1995 Accession to European Economic Area

(EEA) on 1 May, accession to World

Trade Organisation (WTO) on

1 September

1991 Full membership of European

Free Trade Association (EFTA)

1990 Accession to United Nations (UN)

1978 Accession to Council of Europe

1975 Signing of Helsinki Final Act of

CSCE (today OSCE)

1950 Accession to Statute of International

Court of Justice (ICJ)

1923 Signing of Customs Treaty with

Switzerland

Goods exported

Goods imported

Liechtenstein in Figures 2014


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The fiscal system

21

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

income and real estate gains. The country’s tax

laws are adapted to meet the respective economic

and legal framework conditions at home and

abroad. This international compatibility ensures

that Liechtenstein offers an attractive fiscal

system now and in the future. A flat income tax

rate of 12.5 % applies to companies, meaning

that Liechtenstein has a simple, transparent and

competitive tax regime for industrial companies,

financial firms and other service providers as

well as holdings and commercial businesses.

Private individuals

Private individuals also pay taxes in Liechtenstein.

Self-employed and employed workers

are subject to a progressive tax rate with eight

tax bands varying between 3 % and 24 % depending

on the level of income. This tax rate is

very favourable compared with other business

locations and financial centres. Workers living

outside Liechtenstein are taxed depending on the

double taxation agreement with their country of

residence. At the start of 2014 Liechtenstein had

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.


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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

has almost as many jobs as inhabitants. That is

why 52 % of the current workforce live outside

Liechtenstein and commute over the border

every day. Dream jobs in the field of industry,

finance or manufacturing attract talented people.

Liechtenstein’s companies offer an interesting

location with plenty of perspectives, giving them

a good position in the fight for the most highly

qualified workers.

Business-friendly labour laws

Liechtenstein offers good labour conditions for

companies. Low indirect labour costs make

Liechtenstein an attractive place to do business,

while long working hours compared to other

European countries ensure high productivity.

The maximum weekly working time is 45 hours

for workers in the industrial sector and 48 hours

for workers in all other sectors.

A genuine partnership

In Liechtenstein there is a genuine partnership

between bodies representing employers

and those representing workers, meaning that

strikes are not part of the working culture and

trade union organisation is traditionally limited.

Collective employment agreements setting out

provisions on issues such as minimum wages or

holiday entitlements are negotiated at regular

intervals. The Liechtenstein Workers Association,

the Chamber of Economy and the Liechtenstein

Chamber of Industry and Commerce are

involved in these negotiations. Unlike in other

countries, the right to participation is implemented

in a business-friendly way. Employers

must inform and consult their employees about

all major incidents, news and changes in certain

domains.

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.


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Research and development location

25

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.

The governments of the Principality of Liechtenstein

and the Swiss canton of St. Gallen continue

to strengthen regional companies’ capacity for

innovation via the Rhine Valley research and innovation

centre “RhySearch”. This project aims

to increase the competitiveness of business in

the region, in particular SMEs, by creating closer

links between industry and research.

State support

Liechtenstein’s companies are highly innovative.

In order to ensure that they remain so in the

future, the state supports innovation. Therefore,

Liechtenstein’s tax laws contain special provisions

for income generated through intellectual

property (e.g. patents, licenses, brands). While

income generated by businesses is normally

subject to a flat tax rate of 12.5 %, revenue from

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.


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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

a wide range of demands. Around 19‘000 workers

commute over the border to Liechtenstein every

day. Efficient transport management, high

safety levels, a good infrastructure and a diverse

selection of public transport options are of great

importance. LieMobil runs a large public bus

network that covers both Liechtenstein’s municipalities

and all surrounding train stations in

Switzerland and Austria. Liechtenstein also has

a comprehensive 350 km network of cycle paths

stretching from the mountains to the valley

floor.

Always on the move

As well as getting from A to B as easily and

efficiently as possible, people in Liechtenstein

also place great value on sport and culture. The

country is home to a wide range of clubs and

associations covering many activities and hobbies.

Sports enthusiasts can enjoy indoor swimming

pools, an outdoor pool, a swimming lake, indoor

tennis courts, a squash court, a selection of

sports halls, football pitches, fitness trails, ski

lifts and cross-country skiing runs as well as

countless other facilities. Those with an interest

in culture will find a selection of museums,

theatres and concerts.

Liechtenstein is

located at the heart

of Europe. Zurich

and its international

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.


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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

that has repeatedly achieved top marks in the

PISA study. After completing their mandatory

school education, youngsters can choose to pursue

an academic or a vocational path. Those who

choose the academic route receive a school-leaving

qualification that entitles them to study not

only at the University of Liechtenstein but also

at all universities in Switzerland and Austria.

Liechtenstein is among the countries with the

lowest rates of youth unemployment in Europe,

thanks in part to the high-quality education and

training available.

International

The International School Rheintal just over the

Swiss border in Buchs also plays an important

role in Liechtenstein’s education system. It

teaches children from kindergarten through to

the International Baccalaureate (IB) in English

and is supported by Liechtenstein’s government

and industry. Thanks to its location near the

Swiss border, the school can be easily reached

from Liechtenstein.

More education

The University of Liechtenstein offers courses

in Entrepreneurship, Business Informatics,

Banking and Financial Management, Business

Economics and Architecture. Its strong international

orientation is underlined by the fact

that it has students and lecturers from over 40

countries and shares partnerships with more

than 70 universities across the world. Other

education institutions include the Liechtenstein

Institute, the Private University in the Principality

of Liechtenstein and the International Academy

of Philosophy. Within a radius of 70 km there

are a number of well-known universities, among

them the University of St. Gallen. The University

of Applied Sciences of Eastern Switzerland

also runs a number of education facilities near

to Liechtenstein, such as the NTB Interstate

University of Applied Sciences of Technology

Buchs, offering study programmes in a range of

subjects.

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.


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Living in Liechtenstein

31

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 activities

for all the family. Those who like to be out

in the fresh air can enjoy more than 400 km of

well-signposted hiking trails during the summer

months as well as skiing and snowboarding in

Malbun in winter. Untouched nature and a host

of leisure facilities and activities make Liechtenstein

the ideal place for residents of all ages to

enjoy their free time to the full.

Art and culture

Just as diverse as the country’s flora and fauna

is the selection of cultural activities on offer in

Liechtenstein. The Museum of Fine Art regularly

hosts temporary exhibitions showing the

works of internationally renowned artists. The

National Museum tells the history of Liechtenstein,

while the TAK Theater Liechtenstein puts

on plays, dance, stand-up comedy, readings and

music.

Family matters

Family life is very important in Liechtenstein.

The holiday region of Malbun has received the

Families Welcome Award accorded by the Swiss

Tourist Board, while Liechtenstein’s government

supports families through direct and indirect

financial means (childbirth allowance, child

benefit payments, rent subsidies, etc.) as well as

by providing tax breaks for families and childcare

subsidies. Childminders and other childcare

facilities are available. Afternoon activities are

also provided for children attending kindergarten

or school. In recent years Liechtenstein’s

childcare infrastructure has been significantly

expanded in order to make it easier to combine

family and career.

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!


usiness

in liechtenstein

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.

Legal forms

Public limited

company

Minimum capital volume required: CHF 50‘000

Liability limited to assets of company

Mandatory bookkeeping and audits

Public annual reports

Legal form well-known internationally

Establishment 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

Legal form little known internationally

Limited liability

company

Minimum capital volume required: CHF 30‘000

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

Individual enterprise 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

There is almost nothing easier than founding a

company in Liechtenstein. In order to receive

the necessary approval to conduct business,

applicants must among other things name a

managing director who fulfils the necessary

criteria. This can mean, for example, someone

with the appropriate qualifications in the relevant

field who can be physically present in the

company.

One stop shop

The point of single contact at the Office of

Economic Affairs accompanies budding entrepreneurs

step by step through the process of

founding a company. This service is available not

only to industrial and manufacturing companies

but also to firms operating in fields requiring

special permission (banking firms, medical

practices, etc.), providing competent support to

ensure that everything runs smoothly.

Taking on staff

Despite the fact that many people who work

in Liechtenstein live abroad, taking on employees

living in the surrounding border regions

is simple and unbureaucratic. Swiss citizens

do not require a permit issued by the immigration

authorities and do not have to register

in Liechtenstein. Workers from EEA states must

be registered with the Migration and Passport

Office, which will issue a document confirming

their status as cross-border commuters. Citizens

of other countries must apply to become crossborder

commuters. This status as a cross-border

commuter from a third country is valid for a year

and is also issued by the Migration and Passport

Office.


usiness

in liechtenstein

Important addresses

35

Contact details

LAFV, Liechtenstein Investment Fund Association

T +423 230 07 70, info@lafv.li

Medical Association Liechtenstein

T +423 370 20 30, office@aerztekammer.li

Liechtenstein Bankers Association

T +423 230 13 23, info@bankenverband.li

Ernst Risch

Managing Director

Liechtenstein Marketing

Äulestrasse 30

9490 Vaduz

T +423 239 63 60

ernst.risch@liechtenstein.li

Association of Liechtenstein Charitable

Foundations

T +423 399 19 11, info@vlgs.li

LHGV, Liechtenstein Hotel and Gastronomy

Association

T +423 380 08 44, geschaeftsstelle@lhgv.li

LCCI, Liechtenstein Chamber of Commerce

and Industry

T +423 237 55 11, info@lcci.li

University of Liechtenstein Centre for SMEs

T +423 265 12 75, info@kmu-zentrum.li

Christian Hausmann

Head of Office

Office of Economic Affairs

Visitors’ address: Haus der Wirtschaft

Poststrasse 1

9494 Schaan

T +423 236 68 80

christian.hausmann@llv.li

Contact for

founding a company

Single point of contact

Visitors’ address: Haus der Wirtschaft

Poststrasse 1

9494 Schaan

T +423 236 69 96

eap@llv.li

Liechtenstein Chamber of Lawyers

T +423 232 99 32, rechtsanwaltskammer@lirak.li

Liechtenstein Institute of Professional Trustees

and Fiduciaries

T +423 231 19 19 , info@thk.li

LVU, Liechtenstein Association of

Business Consultants

T +423 399 30 39, info@lvu.li

VuVL, Association of Independent Asset Managers

in Liechtenstein

T +423 388 23 50, info@vuvl.li

LVV, Liechtenstein Insurance Association

T +423 237 47 77, office@lvv.li

Liechtenstein Chamber of Trade and Commerce

T +423 237 77 88, info@wirtschaftskammer.li

WPV, Liechtenstein Association of Auditors

T +423 233 29 20, info@wpv.li

Imprint

Publisher

Liechtenstein Marketing, Äulestrasse 30, Postfach 139, 9490 Vaduz, Liechtenstein, T +423 239 63 63,

business@liechtenstein.li, 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

business@liechtenstein.li

www.liechtenstein-business.li

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