The Principality of Liechtenstein is the six smallest country in the world and it beneficially situated between Austria and Switzerland. It becomes an attractive location for doing business by international businessmen. Family Fund incorporation is one of the most popular legal approaches to the asset protection and succession planning. The reason is that the foundation has such features of the legal entities as the certificate of incorporation, statutes, may issue powers of attorney, etc.
One of the distinctive features of the Discretionary Family Foundation is that the latter does not have any shareholder or fixed beneficiaries, however may open bank accounts in its names and own defined rights and duties. The information about such foundations is not public.
Speaking about the location, Principality of Liechtenstein is such a unique country, which does not have many agreements with respect to data exchange with other countries. This issue is especially important for Russian citizens who are primarily keen on their assets protection and confidentiality which scope may from time to time conflict with concurrent CFC Rules.
The goals set for your family foundation may be vary. The only requirement is that it is prohibited to use it in your ordinary direct commercial activity with the aim of receiving profit. However, by means of transferring the ownership in the international business companies’ to the foundation, one may benefit from additional burden of confidentiality regarding the beneficial owners of such companies.
Main benefits of the Family Foundation in Liechtenstein are as follows:
- No need to travel to Liechtenstein
- Internationally recognized
- No public commercial register
Do you have any questions about fund in Liechtenstein?
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