Liechtenstein. Offshore zone, registration and business support
📉 1. Favorable tax rates compared to EU neighbouring countries
For example, the corporate income tax rate for companies is 12.5%. At the same time, for non-residents of Liechtenstein, only their income in Liechtenstein is the subject of taxes. For comparison: in France, the corporate income tax rate ranges from 27.5% to 31%. Also in Liechtenstein there is no repatriation tax.
🔐 2. Strictly Guarded Banking Secrets
The country can become a «tax haven» for your business, because information about management or activities can be provided to third parties only by a court decision.
📓 3. Liechtenstein is not included in the «blacklists» of offshore zones
Liechtenstein is the first country to introduce a comprehensive regulation for the blockchain industry, for cryptocurrencies, utility tokens, payment tokens, stable coins, and digital securities like security tokens.
On January 1, 2020, The Token and Trusted Technology Service Provider Act (TVTG) came into force. At the same time, no strict norms and prohibitions have appeared.
In particular, the Local Financial Market Authority(FMA) has declared cryptocurrencies not subject to regular supervisory control. However, any company in one way or another is obliged to undergo an audit and submit financial statements.
Now the registration of companies and the conduct of business are organized as simply and transparently as possible.
💰 Serious disadvantage: the cost of registration and renewal of an activity permit. So, the procedure for obtaining a crypto license will cost you 1500₣ for 1 type of activity and 700₣ for each subsequent one.
The FMA application process takes up to 3 months.
You must obtain a license and register with the FMA if:
🔻 You launch cryptocurrency hedge funds;
🔻 You are a blockchain network developer;
🔻 You launch ICO;
🔻You launch a crypto exchange.
The Principality is part of the European Economic Area, but is not a member of the European Union. This allows you not to burden business processes with excessive legal difficulties and bypass many onerous EU requirements, although the activities of companies are regulated by the requirements of the AML (Due Diligence Act). But an entrepreneur can work here on an ordinary Schengen visa.
💼 All these factors make the country an interesting place to register a cryptocurrency business. It is not for nothing that almost 74 thousand foreign companies are registered here, in fact, twice as many as the number of residents in the country.