TRUST BUSINESS AT A TURNING POINT IN THE PRINCIPALITY OF LIECHTENSTEIN
The financial sector in the Principality of Liechtenstein is at a turning point. However, the changes didn’t only start in response to the financial crises and pressure from countries who consider Liechtenstein to be a “tax haven”. The Principality had begun many of the modifications years earlier.
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Being in the Trust business, EFEL Trust Establishment recognized the coming changes in time and adapted their strategy and the services they provide, tailoring them to suit the new conditions.
The Principality of Liechtenstein has always offered a stable political platform, legal security and discretion.
Liechtenstein has stuck to its principles despite economic instability and the financial crises. In signing 12 TIEA-Agreements, Liechtenstein is no longer on the “grey” list of the so-called ‘uncooperative states’. Even though the Principality of Liechtenstein agreed to adopt the OECD Standards, the country’s high standards of security and discretion still haven’t changed.
The traditional areas of the Trust business in Liechtenstein, such as estate planning, asset protection, family office, and international structuring are still in high demand and as discreet, secure and stable as they used to be. Under the laws of the Principality of Liechtenstein, Foundations, Trusts and Establishments are internationally recognized and are an important tool for estate planning and for holding companies. It’s important to note that in validating the new law on Foundations, Liechtenstein has achieved an important international position concerning charitable foundations.
Through the adjusted international regulations and the financial standards the complexity of the consultancy activities of the Trust Companies has been increased.
The legal security and the stable business position of the Principality of Liechtenstein has always been the most important tool of a Trust Company and the above mentioned modifications have even intensified the security.
EFEL Trust Establishment analyzes customers’ needs in relation to the customers’ environment and presents tailored solutions and suggestions. EFEL Trust Establishment offers all the traditional trust services, such as the incorporation of companies (Foundations, Trusts etc.), family office services, estate planning, and more with all services governed by the rules and regulations of international standards.
Discretion and privacy have always been and will continue to remain highly valuable.
PETER COTT, CEO OF EFEL TRUST ESTABLISHMENT
