Total Revision of Foundation Law
• Since 1st April 2009 new Law on Foundations
• Increased responsibility of the founder
• Strengthening of internal foundation governance
• Re-organisation and strengthening of external foundation governance and its competences and duties
Transformation from a stigmatized vehicle to a recognized and transparent legal structure.
• Private Interest Foundation Charitable foundation
• Beneficiaries: determined or determinable
• Beneficiaries: better position due to stronger rights
• Charitable and Predominantly Charitable foundations are subject to Supervision of the Liechtenstein Foundation Supervision Authority and require an auditor
• Protector, Family Advisory Board etc. possible
• Taxation: Flat Rate of CHF 1‘200 in case of absence of commercial activities, in other situations ordinary taxation, i.e. tax on income
Liechtenstein: Set up for the Future?
• Need for change recognized and accepted actions taken!
• Unilateral and Unconditional Commitment to International Standards
• Implementation of International Legal Framework
• Comprehensive New Internal Legislation
• Numerous Tax Treaties
• Quality, Sustainability and Responsibility are offered to Clients