Doing Business in - JHI

Doing Business in
Liechtenstein
Existence
The trust starts to exist upon signature of the agreement
(trust deed) by the settlor and the trustee or by means of
a trust letter. The registration in the Public Register
(instead of deposition) does not have a constitutive
Registration or Deposition
In so far as it is compulsory to register the trust in the
Public Register the following information must be
provided: date of formation, name of the trust
settlement, duration (up to 100 years), name and
domicile of the trustees. The beneficiaries and the settlor
effect. The registration of a trust with a duration of more
than one year is compulsory.
are not disclosed. As an alternative to registration the
trust deed can be deposited at the Public Register. In this
case, the existence of the trust settlement is not evident
in any register and inspection is only possible upon proof
of an entitled interest.
Trust Property
There are no requirements concerning the minimum trust
property (donation of assets).
Administration
The trustees are obliged to administer the trust’s assets
in their own name for the benefit of the beneficiaries.
Nevertheless, the trustees are responsible for the assets.
Beneficiaries
The settlor may be a beneficiary, but the trustee may not
be the sole beneficiary.
If there is no recognisable reference to beneficiaries the
law assumes that the settlor himself is the beneficiary.
Please refer also to the comments in the General section.
Supervisory Bodies
In order to control the observance of the provisions in
the trust deed an auditor, a protector, a curator or a
collator may be appointed (as described in the case of
the foundation under Governing Bodies).
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DOING BUSINESS IN LIECHTENSTEIN