page_title: Economy of Liechtenstein
section_title: Banking and finance
hierarchical_section_title: Economy of Liechtenstein / Banking and finance
caption_attribution_description: English: National Bank of Liechtenstein, Vaduz, LiechtensteinDeutsch: Liechtensteinische Landesbank, Vaduz, Liechtenstein
context_page_description: The economy of Liechtenstein is based roughly equally on services and industry, with a small but significant agricultural sector. The country participates in a customs union with Switzerland and uses the Swiss franc as its national currency. It imports more than 85% of its energy requirements. Liechtenstein has been a member of the European Free Trade Association since 1991. It also has been a member of the European Economic Area since May 1995 and participates in the Schengen Agreement for passport-free intra-European travel.
context_section_description: The Principality of Liechtenstein also is known as an important financial centre, primarily because it specializes in financial services for foreign entities. The country's low tax rate, loose incorporation and corporate governance rules, and traditions of strict bank secrecy have contributed significantly to the ability of financial intermediaries in Liechtenstein to attract funds from outside the country's borders. The same factors made the country attractive and vulnerable to money launderers, although late 2009 legislation has strengthened regulatory oversight of illicit funds transfers.
  Liechtenstein has chartered 17 banks, three non-bank financial companies, and 71 public investment companies, as well as insurance and reinsurance companies. Its 270 licensed fiduciary companies and 81 lawyers serve as nominees for, or manage, more than 73,000 entities (primarily corporations, institutions, or trusts), partly for non-Liechtenstein residents. About one-third of these entities hold the controlling interest in other entities, chartered in countries other than Liechtenstein. The Principality's laws permit the corporations it charters to issue bearer shares. Until recently, the Principality's banking laws permitted banks to issue numbered accounts, but new regulations require strict know-your-customer practices for all new accounts.
caption: National Bank of Liechtenstein.
exif: {"Image ImageDescription": "SAMSUNG CAMERA PICTURES", "Image Make": "SAMSUNG", "Image Model": "DV150F/DV151F/DV155F", "Image Orientation": "Horizontal (normal)", "Image XResolution": "72", "Image YResolution": "72", "Image ResolutionUnit": "Pixels/Inch", "Image Software": "FW Ver 1307161", "Image DateTime": "2015:04:05 08:36:19", "Image YCbCrPositioning": "Co-sited", "Image Copyright": "Copyright 2012", "Image ExifOffset": "298", "Thumbnail Compression": "JPEG (old-style)", "Thumbnail Orientation": "Horizontal (normal)", "Thumbnail XResolution": "72", "Thumbnail YResolution": "72", "Thumbnail ResolutionUnit": "Pixels/Inch", "Thumbnail JPEGInterchangeFormat": "20174", "Thumbnail JPEGInterchangeFormatLength": "8228", "EXIF ExposureTime": "1/125", "EXIF FNumber": "5/2", "EXIF ExposureProgram": "Program Normal", "EXIF ISOSpeedRatings": "80", "EXIF ExifVersion": "0221", "EXIF DateTimeOriginal": "2015:04:05 08:36:19", "EXIF DateTimeDigitized": "2015:04:05 08:36:19", "EXIF ComponentsConfiguration": "YCbCr", "EXIF CompressedBitsPerPixel": "5", "EXIF ShutterSpeedValue": "27/4", "EXIF ApertureValue": "66/25", "EXIF ExposureBiasValue": "0", "EXIF MaxApertureValue": "66/25", "EXIF MeteringMode": "Pattern", "EXIF LightSource": "Unknown", "EXIF Flash": "Flash did not fire", "EXIF FocalLength": "9/2", "EXIF FlashPixVersion": "0100", "EXIF ColorSpace": "sRGB", "EXIF ExifImageWidth": "1984", "EXIF ExifImageLength": "1488", "Interoperability InteroperabilityIndex": "R98", "Interoperability InteroperabilityVersion": "[48, 49, 48, 48]", "EXIF InteroperabilityOffset": "20038", "EXIF SensingMethod": "One-chip color area", "EXIF FileSource": "Digital Camera", "EXIF SceneType": "Directly Photographed", "EXIF ExposureMode": "Auto Exposure", "EXIF WhiteBalance": "Auto", "EXIF DigitalZoomRatio": "1", "EXIF FocalLengthIn35mmFilm": "25", "EXIF SceneCaptureType": "Standard", "EXIF Sharpness": "Normal"}