Offshore Banking in Lichtenstein
At only 100 sq. miles, Lichtenstein is a small land-locked country located in Western Europe. It is bordered by Austria to the east and Switzerland on the west, with its capital located in the city of Vaduz.
With a population of just over 35,000 people, Lichtenstein is the smallest German Speaking country in the world. Were financial matters are concerned, English is also spoken for the convenience of the worlds financial investors. Lichtenstein’s reputation as a tax haven started at about the same time tax havens were first introduced to the financial community.
It should not be surprising to learn that the country’s free-enterprise economy finds its basis in many profitable fields, with foreign investors and financial services leading the way, followed by trade and industry. This is has come about partly do to its close ties with Switzerland and its membership in the European Economic Union.
Being so close to Switzerland, and having close ties to the Swiss financial community, it is also no surprise to learn that the Swiss Franc(CHF) is Lichtenstein’s national currency. The Swiss Franc(CHF) is trading nearly even with the US Dollar USD 1.0681 to CHF 0.9365. This provides Lichtenstein’s citizens with a GDP per capita of 118,000(est. 2007). One of the highest in the world.
Legal codes with a basis in Common Law are followed by the Lichtenstein courts. As a constitutional hereditary monarchy Liechtenstein’s Prince as head of State. It is also governed by a democratically elected parliament. It is a politically stable modern democratic state.
One of the main attractions of Liechtenstein is its extremely flexible company law, which allows for the creation of any type of legal organization, which is recognized under the law of any jurisdiction in the world.
Low taxes and easy incorporation rules have induced approximately 74,000 holding companies to base themselves there, providing around 30% of state revenues.
Lichtenstein has all the attributes looked for in a stable tax haven and offshore banking location. Though there has been some uproar lately about a data leak and banking records being sold to the UK and German tax authorities, every effort has been made to stop the leak that was in defiance of the countries privacy laws.
If you are considering banking in Liechtenstein, then the SwissFirst bank branch is one of your better options for privacy and service. While they charge higher fees and require a higher minimum ballance in the range of $1 Million US, they also offer a maximum level of safety, privacy, and personal service. While you cannot open an anonymous acount with them, they guarantee that they will protect your privacy and information to their last breath.
It has a politically Democratic government, with its revenues based in the financial community. Its citizens are prosperous, thanks to the country’s outside investors, which means the government has a vested interest in keeping taxes low and investing rules business friendly.
While Lichtenstein may not be the place to take your family for a vacation, it is definitely a place to consider, when sending your money to a tax haven.
Englishman Peter Macfarlane is an author and lecturer on offshore finance, investment, due diligence and wealth creation matters. After fifteen years advising high net worth clients on offshore asset protection structures such as companies, trusts and private interest foundations, he decided on a career change and now mentors individuals who are interested in creating, preserving and growing wealth in a secure offshore environment. Peter defines wealth in the broadest sense, believing that money is worthless if you don’t have health and happiness. He is now joint editor of The Q Wealth Report, a publication dedicated to publishing freedom, wealth and privacy information for a select audience. He offers a free sample copy to readers of ezinearticles. You can visit The Q Wealth Report and get additional information on offshore banking.