How to open a company in Liechtenstein in 2023
If you want access to the European market, we recommend opening a company in Liechtenstein in 2023. The Principality is not part of the EU but is part of the EEA, the Schengen Area, and the European Free Trade Association. It also boasts a simple tax system, low corporate tax, a developed economy, infrastructure, and a financial sector. In addition, Liechtenstein is one of the few countries open to investments in cryptocurrencies and blockchain-based projects.
Requirements for starting a business
Starting a business in Liechtenstein is governed by the Companies Act. Important requirements include:
- Registration with the Commercial Registry;
- Local director, while a resident partner is not required;
- Secretary is optional;
- Legal address in the country, a virtual office can be used if necessary;
- Individuals and legal entities can open a company, by clearly indicating the type of activity.
How to open a business in Liechtenstein
Opening a business in Liechtenstein takes little time if properly completed documents are submitted at once. The registration consists of the following steps:
- Determine the type of legal entity - there are 16 legal forms in the Principality of Liechtenstein. The most common are an LLC (GmbH), a public limited company (AG), a foundation (Anstalt), and a trust. Due to the tax advantages, a foundation (Stiftung) is in great demand.
- Decide on a name in German and send it to the Company Index for verification.
- Prepare the founding documents depending on the form of the legal entity.
- Obtain a business license from the Office of Economic Affairs (if applicable). You will also need a certificate of criminal record, the legal capacity of the company, a description of the purpose of the business, and other necessary documents.
- Enter the company into the Commercial Registry.
- Register as a VAT payer if annual income exceeds €100,000.
- Notify social services if you are going to hire staff.
Any foreign company must hire a local director with a clean criminal record confirmed by a certificate from the police. It must be, at most, three months. This statement must be submitted to the Commercial Registry together with the director's proof of qualifications.
Documents for the company incorporation
What documents are required to register a company in Liechtenstein 2023? It depends on the type of legal entity. However, it is mandatory to provide the following:
- Notarized copies of passports of owners and shareholders.
- Proof of legal office in the Principality of Liechtenstein.
- Notarized Memorandum of Association and Articles of Association.
- Information about managers - their passports and proof of qualifications.
- Certificate from a local bank, confirming that the share capital is on the account.
The charter must contain the following data:
- Objectives and objects of activity;
- Names of shareholders, their percentage share, rights, and obligations;
- The amount of the share capital;
- Date of the annual general meeting;
- How exactly the authorized capital can be changed;
- The procedure of dissolution and liquidation.
It is also possible to include special provisions in the charter. They will affect the management of the business. For example, it can be a procedure for the dismissal of directors and managers or a method for settling possible disputes.
Timeframe for business registration
The company registration process takes about a month if all the documents are submitted correctly. In rare cases, the term can be extended.
How to open a business in Liechtenstein
For fast business registration in Liechtenstein contact IT-OFFSHORE specialists.
