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| Foundation | Establishment | Stock corporation | Trust/ trust company | Foreign companies The Principality of Liechtenstein is the only continental European country to have included the common law trust in its legal system. The trust is established by assigning assets to a trustee, subject to the condition that these assets will be administered in accordance with the wishes of the trustor, with any dividends benefiting specific individuals or institutions. Within the framework of the administration of the assigned assets, the trust may at any time acquire stakes in companies and exercise holding functions. As in the case of the foundation, the trust can be used to secure assets over the long term and to settle the estate of the trustor. The assets are not held by a legal entity. Instead, a contractual relationship is established with the trustee. However, the assets assigned to the trustee no longer form part of the assets of the trustor. The trustor can designate himself as the beneficiary during his lifetime, and can choose how the assets are to be used after his death (letter of wishes). Trust reg. In addition to the trust in the form of a contractual relationship, the registered trust company - the trust reg. - can also be established as a legal entity entered in the Public Registry of Liechtenstein. With respect to its configuration and organisation, the trust reg. is closely related to the establishment and may likewise pursue both commercial as well as non-commercial interests. The supreme body is the trustor or his legal successor, the owner of the trustor rights. His position corresponds to that of the founder of the establishment. The trustee board is the executive body with authority to represent the trust. This may be one or more members. If the purpose of the trust reg. permits commercial activities, then the trust reg. is obliged to keep accounts. Furthermore, an auditor must be appointed. In other respects, it is merely necessary to draw up a schedule of assets as at the end of each year. Like the foundation and the establishment, the trust reg. can have beneficiaries who are named by the trustor or his legal successor in separate ancillary articles of association. |
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Our office building
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| Euromanagement & Trust Company Establishment FL-9490 Vaduz, Meierhofstrasse 2, PO Box 135, Liechtenstein Tel. +423 236 11 00, Fax +423 236 11 01 office@euromanagement.li - www.euromanagement.li |