In this episode, we explore how Liechtenstein benefits from its unique access to both the EU and Switzerland markets through the European Economic Area (EEA) agreement and the Customs and Currency Agreement with Switzerland. We discuss how the passporting regime allows Liechtenstein-based financial services to operate across both regions without separate entities. The episode also highlights how insurance providers can offer products in both markets with a single license and how asset managers benefit from MiFID compliance to serve EU clients. Finally, we touch on the role of the Financial Market Authority (FMA) in ensuring EU regulatory compliance.

In this episode, we explore the vital role of family offices in managing and growing wealth. Family offices in Liechtenstein offer a range of benefits, from privacy protection and tax advantages to cross-border wealth management in both the EU and Switzerland. We discuss how Liechtenstein's strong legal framework and favorable tax regime provide a stable environment for wealthy families to manage their assets across generations.

In this episode, we explore the social security challenges faced by individuals who hold board mandates in Liechtenstein while residing in Switzerland or an EU state. These cross-border roles can complicate the determination of which social security system applies. We discuss the general rule that board members are typically subject to the social security system of their primary country of residence, but complexities arise when the board mandate in Liechtenstein is secondary or if the individual has no primary occupation in their home country.

In this episode, we dive into the EBA Guidelines on ESG Risk Management and explore how they aim to support financial institutions in managing ESG risks across multiple sectors. These guidelines set minimum standards for identifying, measuring, managing, and monitoring environmental, social, and governance risks, and align with the new EU Banking Package. We discuss how ESG risks should be integrated into traditional financial risk categories, including credit, market, and liquidity risks, and how scenario analysis and transition planning are essential tools in the process.

In this episode, we discuss IFRS 18, the new standard for presentation and disclosures in financial statements. We explore its main objectives, such as improving comparability and transparency of financial statements without introducing new measurement requirements. The episode covers key changes, including the categorization of the income statement into operating, investing, and financing categories, as well as management-defined performance measures (MPMs). We also discuss specific developments for banks and financial institutions, including guidance on foreign exchange treatment and derivatives.

In this episode, we discuss the impact of the MiCA (Markets in Crypto-Assets Regulation) on the European crypto market, with a particular focus on Liechtenstein. We explore how MiCA aims to create a harmonized regulatory framework for crypto-assets across the EU, and what this means for Liechtenstein-based crypto businesses. The episode covers everything from stablecoins and utility tokens to the responsibilities of crypto service providers like exchanges and wallet operators. We also look at how Liechtenstein’s financial sector, with its strong regulatory environment, is positioned to benefit from MiCA and provide clear compliance guidelines for businesses in the crypto and digital finance sectors.

In this episode, we dive into the world of alternative investments, including art, wine, and classic cars, and discuss how these unique assets are becoming increasingly accessible through Alternative Investment Funds (AIFs). AIFs provide a regulated and structured way for investors to enter these markets, offering both safety and transparency. The conversation highlights the challenges these investments pose, particularly in terms of valuation and liquidity. We also explore how the AIF model addresses these challenges, providing a clear path for investors to engage with these exciting and unconventional investment opportunities.

In this episode, we discuss why Liechtenstein is considered a prime location for funds and how its unique advantages make it an attractive option for fund managers and investors. We explore the variety of fund types that can be established in Liechtenstein, including UCITS and AIFs, as well as specialized funds like ELTIF and EuVECA. Our guest, Simon, provides insights into tax advantages and the efficiency of the fund establishment process, with quick approval times for UCITS and AIFs. Finally, we discuss the growing volume of assets under management (AuM) in Liechtenstein and the importance of accounting considerations for fund managers. It’s clear that Liechtenstein offers a robust, efficient, and flexible environment for funds to thrive.

In this episode, we will discuss the growing role of AI-driven innovations in banking, specifically within Client Lifecycle Management (CLM). We’ll explore the challenges traditional banks face today, such as slow onboarding processes and regulatory compliance risks, and how AI offers solutions to streamline and automate these processes. We’ll also examine the impact of AI on regulatory compliance, especially in areas like KYC and AML, and how it enhances personalized customer experiences. Our guest, Alexander Schultz-Wirth, will share insights into how AI is transforming CLM, the key considerations for banks when implementing AI, and the opportunities for the financial sector to adopt these innovations for improved customer engagement and operational efficiency.

In this episode, we will discuss the growing importance of sustainability in Liechtenstein’s financial sector. We will explore how the Omnibus Proposal is shaping the regulatory landscape and how local companies are responding to it. We’ll also examine the role of green products in the transition to a sustainable economy and how Liechtenstein can further support this development. Our guest, Simon Tribelhorn, Director Liechtenstein Bankers Association and Chairman of the Board of Directors of the Liechtenstein Finance Association, will provide insights into the regulatory challenges and opportunities in integrating ESG factors into investment advisory services. Finally, we’ll discuss the potential of Liechtenstein’s financial sector to stand out internationally through innovative sustainability initiatives.

In this episode, we discuss the Crypto-Asset Reporting Framework (CARF), which aims to enhance transparency in the crypto-asset market by improving tax reporting and regulatory compliance. The framework is designed to ensure that crypto-asset transactions are properly reported and that tax authorities have access to essential information. CARF is an important step towards integrating crypto-asset regulation into global financial systems, aligning with international standards to prevent tax evasion and promote financial integrity. The framework will impact both crypto-asset service providers and investors, fostering a more transparent and accountable market.

In this episode, we discuss the new conception of the financial market law in Liechtenstein. The main goals of the reform are to enhance the efficiency of financial market supervision, align with EU and EEA regulations, and improve the stability and integrity of the financial system. A key feature is the separation of prudential supervision (focused on the financial stability of banks and securities firms) from conduct-of-business supervision (focused on market integrity and investor protection). The new framework includes separate regulations for banks, securities firms, trading infrastructures, and markets.

In our first episode, Patrick Wiech and Martina Walt discuss Liechtenstein’s attractiveness as a financial hub, focusing on its legal and regulatory environment and its commitment to international tax compliance. They examine recent tax law reforms, including the introduction of the OECD global minimum tax (Pillar 2). Looking ahead, Liechtenstein aims to maintain its status as an attractive investment destination by continuously aligning with global tax standards and strengthening protections through new double tax treaties.

In the «Liechtenstein Financial Services Podcast» we explore the legal, regulatory, financial, and tax perspectives of banks, funds, asset managers, and other key players in the Liechtenstein financial centre. You can find our podcast on LinkedIn and explore more on the PwC Liechtenstein website, where we share additional resources and episode highlights. You can also listen to us on Spotify, Youtube, and Apple Podcasts.