Financial centre with attractive advantages
The Principality of Liechtenstein is a small, German speaking country in Central Europe, bordered by Switzerland to the west and south and by Austria to the east and north. Its area is just over 160 square kilometres (62 square miles), and it has an estimated population of 39,000 (2020). Liechtenstein is divided into 11 municipalities. Its main municipality is Vaduz.
Liechtenstein is a constitutional hereditary monarchy based on a democratic and parliamentary foundation. Its Reigning Prince is Hans-Adam II. In 2004, the Reigning Prince entrusted his eldest son, Hereditary Prince Alois, with the exercise of all sovereign rights, but remained Head of State in accordance with the Constitution.
Official currency in Liechtenstein is the Swiss Franc (CHF). Moreover, a Customs Union Treaty between Switzerland and Liechtenstein is in force since 1924.
Liechtenstein is a member of the European Free Trade Association (EFTA) and part of the European Economic Area (EEA) as well as the Schengen Area, but not of the European Union (EU).
Liechtenstein is primarily famous for its financial sector. Its economic upturn came with the introduction of the new Law on Persons and Companies in the beginning of the 20th century. The new formed Foundations, Establishments and Trusts combined with their low taxation were a great success. Today, Liechtenstein is well-known for its legal security, political stability, the strong connection to Switzerland by a Customs Union Treaty as well as a Currency Treaty and the well-educated workforce.