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Liechtenstein, the financial center

Liechtenstein, the financial center. Russian Economic and Financial Forum, Zurich, January 31, 2005. Facts & Figures. 16 Banks 350 trust companies (fiduciaries) CHF 104 billion (1000 million) under management. Principle. One country – two economic areas. 3 Foundations.

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Liechtenstein, the financial center

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  1. Liechtenstein, the financial center Russian Economic and Financial Forum, Zurich, January 31, 2005

  2. Facts & Figures • 16 Banks • 350 trust companies (fiduciaries) • CHF 104 billion (1000 million) under management

  3. Principle One country – two economic areas

  4. 3 Foundations • International network • Liberal economic environment • Individual is the focus of economic success

  5. International network • Global focus; LGT and VP Bank as examples • Vital committment to fight the abuse of the system; strict anti-money-laundering and anti financing of terrorism legislation • EU-withholding tax – system • Close co-operation with the European Banking Federation

  6. Liberal economic environment • Customs and Currency union with Switzerland; CHF as currency, tight relation to the Swiss economy • Member of the European Economic Area (EEA); privileged relations to the EU • Strict banking secrecy; no mutual legal assistance in purely tax matters • State interventions in business and competition kept to a minimum

  7. Individual is focus of economic success • All actions by the Liechtenstein financial center are focused on individual solutions; private banking and company law • Competitive environment even harder after 2001

  8. Actively shaping the future • Innovation and communication are of crucial importance on the business side; investment funds • Dialogue and seeking for constructive co-operation on the associations side; Germany • Maintenance of privacy and banking secrecy

  9. Conclusion • Transparency where necessary; global threats as money laundering and financing of terrorism, no abuse • Privacy as the basic rule in Liechtenstein as a european country • We stand for respectful interaction with clients and also within the political and economic framework

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