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.

New Standards

• 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