Liechtenstein

New Documents

The Council of Europe Group of States Against Corruption published a Second Compliance Report on the Third Round evaluation of Liechtenstein’s measures with respect to incriminations and transparency of party funding.

The Council of Europe Group of States Against Corruption published its Fourth Round Evaluation report on Liechtenstein’s anti-corruption regime with respect to members of parliament, judges and prosecutors.

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. Department of State classifies Liechtenstein as a jurisdiction of primary concern. It has a well-developed offshore financial services sector, relatively low tax rates, liberal incorporation and corporate governance rules and a tradition of bank secrecy. All of these conditions contribute significantly to the ability of financial intermediaries in Liechtenstein to attract funds from abroad.The three largest banks in Liechtenstein manage 85 percent of the country’s $125 billion in wealth. The business model of Liechtenstein’s financial sector focuses on private banking, wealth management and mostly nonresident business. It includes the provision of corporate structures such as foundations, companies, and trusts that are designed for wealth management, the structuring of assets, and asset protection. In recent years Liechtenstein banking secrecy has been softened to allow for greater cooperation with other countries to identify tax evasion. There are no reported abuses of non-profit organizations, alternative remittance systems, offshore sectors, free trade zones or bearer shares.
  • KYC covered entities:Banks; securities brokers; insurance companies and brokers; money exchangers or remitters; financial management firms, investment companies, and real estate companies; dealers in high-value goods; lawyers; casinos; the Liechtenstein Post Ltd.; and financial intermediaries
  • STR covered entities:Banks; securities brokers; insurance companies and brokers; money exchangers or remitters; financial management firms, investment companies, and real estate companies; dealers in high-value goods; lawyers; casinos; the Liechtenstein Post Ltd.; and financial intermediaries
  • Enhanced due diligence procedures for PEPs:Foreign:YesDomestic:Yes
  • Money laundering criminal prosecutions/Convictions: Prosecutions: 9 (2014); Convictions: 2 (2014)
-Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : 8 High :
Largely Compliant : 30 Substantial :
Partially Compliant : 11 Moderate :
Non-Compliant : 0 Low :

BASEL i

Rank : N/A
Score : N/A

TRANSPARENCY INTERNATIONAL i

Rank : N/A
Score : N/A

Tax Justice Network i

Rank : 52/133
Score : 75/100