Schiff Sovereign's Take on Liechtenstein
Liechtenstein is a tiny micro-nation, and it’s not really renowned as a lifestyle destination.
Culturally, it’s very similar to Germany and Switzerland. Especially Switzerland: It’s nice, extremely clean and civilized, and its banking industry — especially its private banking industry — is Old School and stellar.
Rather than being a country where people flock to live, Liechtenstein is best known as a solid place to put your money and to park your wealth. People consequently favor Liechtenstein as a place to set up trusts and implement wealth management structures.
And we think that's a reasonable thing to do. It’s a solid jurisdiction for those purposes. The country’s banks are still well capitalized, and its asset protection laws are quite robust.
But keep in mind that Liechtenstein’s banks don’t want just any client. They are more picky than even Swiss institutions, and are looking for someone with serious money to invest or deposit.
Note: Liechtenstein’s bankers follow the rules – including a myriad of compliance regulations – to the letter. So it's not a place where you would want to hide anything or ‘forget’ to report something.
The other thing to note is that doing any kind of business in Liechtenstein (e.g. establishing any kind of structure, for example) is expensive. Some of the wealthiest people in the world hold their money in Liechtenstein, so the industry knows it, and charges a big premium for its services.
Culturally, it’s very similar to Germany and Switzerland. Especially Switzerland: It’s nice, extremely clean and civilized, and its banking industry — especially its private banking industry — is Old School and stellar.
Rather than being a country where people flock to live, Liechtenstein is best known as a solid place to put your money and to park your wealth. People consequently favor Liechtenstein as a place to set up trusts and implement wealth management structures.
And we think that's a reasonable thing to do. It’s a solid jurisdiction for those purposes. The country’s banks are still well capitalized, and its asset protection laws are quite robust.
But keep in mind that Liechtenstein’s banks don’t want just any client. They are more picky than even Swiss institutions, and are looking for someone with serious money to invest or deposit.
Note: Liechtenstein’s bankers follow the rules – including a myriad of compliance regulations – to the letter. So it's not a place where you would want to hide anything or ‘forget’ to report something.
The other thing to note is that doing any kind of business in Liechtenstein (e.g. establishing any kind of structure, for example) is expensive. Some of the wealthiest people in the world hold their money in Liechtenstein, so the industry knows it, and charges a big premium for its services.
