Liechtenstein

Liechtenstein is a landlocked country of Europe. The capital of Liechtenstein is Vaduz, which is a famous place for attraction. National Museum and the National Art Gallery are located at the capital city.

In Liechtenstein Map, the location of the country in the world map, major cities, neighboring countries are highlighted. Liechtenstein is a Central European country. The country turned out to be a sovereign state in the year 1806. The country is bordered by land from all sides. The population of Liechtenstein as per the census of July 2007 is 34,247. Italians, Alemannic, Turkish are the major ethnic groups residing in the country. The official language of Liechtenstein is German. Officially, the carpentry is known as Principality of Liechtenstein.

In Liechtenstein map, the national capital Vaduz has been marked by a red square box having black border. Some of the major cities of Liechtenstein are indicated in map of Liechtenstein by black dots. The international border is also indicated by black lines. The neighboring countries of Liechtenstein are indicated in Liechtenstein map.

Liechtenstein Location Map

In the location map of Liechtenstein, the position of Liechtenstein in world has been indicated. The geographical coordinates of Liechtenstein are 47° 7' 6''North latitude and 9° 31' East longitude. Liechtenstein is positioned 1975 feet above sea level.

The total area covered by Liechtenstein is 160 square kilometers. Liechtenstein has 76 kilometers of land boundaries. From the world map, it is seen that the country is positioned between Switzerland and Austria.

Liechtenstein Banking System

The Liechtenstein banking sector is regulated under the Law of Banks and Finance Companies of 1992, as amended. The banking center is the actual nucleus of the Liechtenstein financial services sector. This is shown by the comparison of the shares of the Liechtenstein gross domestic product (GDP) and the number of employees. An assessment of these comparative values must naturally take into consideration the mutual dependencies within the financial services sector. Banks in Liechtenstein generate about 20% of GDP with 7% of employees. In comparison, banks in Switzerland generated about 11% of GDP with 3% of employees, and banks in Germany generated about 3% of GDP with 2% of employees. As of the end of 2003, 16 banks were licensed in Liechtenstein, several of them Swiss- or Austrian-based. The three oldest banks, Liechtensteinische Landesbank (LLB), LGT Bank in Liechtenstein AG and Verwaltungs und Privat (VP) Bank AG, all belong to the Swiss Banking Association and are required to recognize most of the conventions of that Association.

They had a balance sheet total of 38 billion (thousand million) Swiss francs, which corresponds to 1.5% of the balance sheet total of Swiss banks. Overall, 1,629 persons were employed in the banking sector as of that date.

Client assets under management amounted to 116 billion (thousand million) Swiss francs.

Private banking, based on a comprehensive protection of bank client secrecy, is the focal point of banking activities. Banks operate in an environment characterized by high political and social stability and a legal structure that complies with international standards and is compatible with EU requirements. Banking supervision, as part of overall financial market supervision, complies with internationally recognized principles.

The Liechtenstein Bankers’ Association with headquarters in Vaduz represents the interests of the banks.

Benefits of Banking in Liechtenstein

The highest confidentiality that you can find for banking purposes. Banking privacy and secrecy are the law, policy and culture of this jurisdiction.

• Safety and reliability. The Principality of Liechtenstein is one of the oldest and most reputable financial centres of the world.

• Full range of payment solutions and bank products -accounts in several currencies, internet banking, debit and credit cards, prepaid cards, trade finance services (L/C, guarantees), asset management, investment banking, escrow accounts; trust, custody and depot services;

• Low initial deposit and minimum balance requirements;

• Full operative secure Internet-banking facilities;

• Good choice of payment cards;

• Companies and clients from any country, including newly formed companies from low-tax jurisdictions and tax havens are welcome;

• No personal visit to the bank in Liechtenstein is required to open a bank account;