Vaduz (ots) - The EEA Financial Mechanism promotes economic and social balance within the European Economic Area (EEA). Following the conclusion of negotiations on the new 2021-2028 mechanism at the end of last year, the Government has now adopted the report and motion for submission to the Liechtenstein Parliament. As a member of the EEA, Liechtenstein - together with its EEA/EFTA partners Norway and Iceland - has ...
Vaduz (ots) - At its meeting on 9 July 2024, the Government adopted several reports and motions on the redesign of the supervisory law governing banks and investment firms. These reports and motions on a comprehensive revision of the Banking Act (BankG) and the creation of a new Investment Services Act (WPDG), ...
Vaduz (ots) - At its meeting on 9 July 2024, the Government approved the Report and Motion of the Government on extension of the interest-free loan to Liechtenstein Wärme - the establishment responsible for Liechtenstein's natural gas supply - to maintain the country's strategic gas reserve. Pursuant to the Ordinance of 29 June 2022 on Securing the Supply of Natural Gas in the Event of a Serious Shortage (Natural Gas Supply Security Ordinance, EVSV), Liechtenstein Wärme ...
Vaduz (ots) - After concluding its rating process, the international rating agency S&P Global Ratings affirmed Liechtenstein's country rating in its research update of 27 May 2024 with the highest rating, AAA, and a stable outlook. In its report affirming the rating, S&P Global Ratings cites the very positive result of the national accounts and the strong fiscal position of the country's public budgets. The stable outlook ...
Vaduz (ots) - From April 29 to May 2, Deputy Prime Minister Sabine Monauni, who is Liechtenstein's Minister of Home Affairs, Economy and Environment, visited the US. In Washington, DC she held bilateral talks on Liechtenstein - US economic relations. The US is one of Liechtenstein's most important economic and trading partners with Liechtenstein companies providing ...
Vaduz (ots) - In a virtual signing ceremony on 12 July 2023, Prime Minister and Minister of Finance Daniel Risch and Italian Minister of Finance and Economic Affairs Giancarlo Giorgetti signed the double taxation agreement (DTA) between Liechtenstein and Italy. The DTA will enter into force once the domestic legislative process is complete. This successful signing of the DTA - which had already been initialled in 2019 - ...
Vaduz (ots) - In the autumn of last year, the Liechtenstein Parliament instructed the Government to start accession negotiations with the International Monetary Fund (IMF). Following numerous preliminary talks at a technical level, the Government has now officially filed an application for IMF membership and has thus started the formal accession process. The Executive ...
Vaduz (ots) - In its meeting on 17 November 2020, the Government adopted an amendment to the Banking Ordinance (BankV) based on Article 3 of the Banking Act (BankG). That amendment created the possibility for banks or investment firms with registered offices in the United Kingdom of Great Britain and Northern ...
Vaduz (ots) - For decades, Liechtenstein has been actively engaged in the combat against money laundering and terrorist financing and has been guided by the international standard of the Financial Action Task Force (FATF). Since 1999, Liechtenstein has been a member state of MONEYVAL, which is a regional body ...
Vaduz (ots) - A scientific consortium led by Liechtenstein scientists and entrepreneurs Lorenz Risch and Martin Risch launched the prospective "COVI-GAPP study", involving more than 1100 subjects from the Principality of Liechtenstein, in April 2020. The aim was to show whether a sensory bracelet, already used ...
Vaduz (ots) - At its meeting on 17 November 2020, the Government approved an amendment to the Banking Ordinance This measure allows banks or investment firms established in the United Kingdom of Great Britain and Northern Ireland to continue to provide investment services and activities as well as ancillary services ...
Vaduz (ots) - Yesterday, the Liechtenstein parliament dealt with the Act on Tokens and TT Service Providers (TVTG) in its first reading. Entering into the first reading was undisputed and unanimously supported. Members of Parliament recognised the opportunities offered by this regulatory approach and at the same time addressed the risks. "The discussions were constructive and at a remarkable level. I would like to thank ...
Vaduz (ots) - On 7 May 2019, the Government adopted the Report and Motion on the creation of a Law on Tokens and Trustworthy Technology Service Providers (Token and TT Service Provider Act; TVTG), frequently referred to as the "Blockchain Act". Blockchain technology was initially developed for Bitcoin, a private digital monetary system. However, the technology can be used far beyond Bitcoin. Blockchain technology is ...
Vaduz (ots) - Liechtenstein complies with the international standards of the OECD on the exchange of information for tax purposes. The report by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) finds that the legal framework and practice in Liechtenstein are to a large ...
Vaduz (ots) - In its meeting of September 4th the Government adopted the Report and Motion on the notification of partner jurisdictions in accordance with Section 7(1)(f) of the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (MCAA). The Government proposes that the ...
Vaduz (ots) - In its meeting of 28 August 2018, the Government adopted the consultation report on the Law on Transaction Systems Based on Trustworthy Technologies (TT) (Blockchain Act; TT Act; VTG) and the amendment of further laws. A blockchain is a distributed database on which transactions or contracts are encrypted and stored in a tamper-proof manner. Blockchain technology not only forms the basis for cryptocurrencies ...
Vaduz (ots) - From 11 - 15 June 2018 Liechtenstein hosted members of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) for working meetings. The Global Forum is an international body with currently 150 members, including all OECD and G20 states. All the members of the Forum have undertaken to adhere to as well as to implement the global standards on transparency and exchange ...
Vaduz (ots) - On Sunday, Adrian Hasler took part in the opening of the Alpbach Political Symposium. Together with the president of the European Forum Alpbach, Franz Fischer, the Prime Minister invited several top-class guests. The guests included the Austrian Federal Minister Alexander van der Bellen, the President ...
Vaduz (ots) - On 30 September 2016, the EEA Joint Committee, whose decisions result in the inclusion of new EU law in the EEA Agreement, decided to incorporate the first package of legal acts relating to the European Supervisory Authorities (ESAs). "This is a milestone for the competitiveness of our financial centre, since equal access to the EU single market has now ...
Vaduz (ots) - The Liechtenstein Government and the British Tax Authority Her Majesty'sRevenue and Customs (HMRC) have published another Joint Declaration to the Memorandum of Understanding of 2009 and the Liechtenstein Disclosure Facility (LDF). The Fifth Joint Declaration recognises the continuing success of the ...
Vaduz (ots) - On 24 March 2015, the Government adopted its Government Bill on 20 years of membership of the Principality of Liechtenstein in the European Economic Area (EEA). With this Government Bill, the Government aims to provide comprehensive information to Parliament and the Liechtenstein public on the ...
Zurich (ots) - The Swiss company Qnective (www.qnective.com ) has received a major order for its software solution Qtalk Defense for 120'000 users. This will incorporate the building of a secure communications network for various military and governmental organisations in Indonesia by using the public mobile ...
Vaduz (ots) - In its meeting of 15 May 2012, the Government passed the report and motion to the Liechtenstein Parliament for the creation of the Gesetz über die Verwalter alternativer Investmentfonds (AIFMG, Act on Alternative Investment Fund Managers) and for the amendment of other laws. The AIFMG puts Directive ...
Geneva/New York City, N.Y (ots) - WISeKey and Microsoft cooperate to empower Biscay Citizens by transforming local government services WISeKey, a leading IT security company, and Microsoft, announced at the Clinton Global Initiative (CGI) meeting that they had successfully worked with the Biscay government to launch a next-generation citizen services ...
Lugano (ots) - The Minister for Finance, Mr. Brian Lenihan T.D. today performed the official opening of the centre which will play a significant role in Helsinn group's pipeline of new products. The Swiss pharmaceutical group Helsinn announced the official opening, performed today by the Minister for Finance, Mr. Brian Lenihan T.D, of its new R&D Centre of ...
Mahé, Seychelles (ots) - The Seychelles Government rejects the allegations posted by PR NEWSWIRE on behalf of Mr. George Xiao and his company LXE Solar Incorporated under the headline "Lawsuit Charges Seychelles Government With Financial Piracy." The funds were not "seized" by the Government but frozen, and the article's accusations are unfounded, defamatory and incorrect, and no part should be considered as ...
Vaduz (ots) - On 11 September, some media cited a June 2008 letter by H.S.H. the Reigning Prince of Liechtenstein declining participation in the exhibition "Looting and Restitution" at the Jewish Museum Berlin. With his private and personal letter to the Director of the Museum, W. Michael Blumenthal, Reigning Prince Hans-Adam II in no way intended to belittle the atrocious events of the Third Reich. Rather, the ...
Vaduz (ots) - The revision of the law governing Liechtenstein foundations was adopted by Parliament on 26 June 2008 and - now that the referendum period has expired without a referendum being called (31 July 2008) - will enter into force on 1 April 2009. Official publication in the national newspapers is on 26 August 2008. From that date on, the text of the ...
Zurich (ots) - The conservation status of whales and dolphins in the Mediterranean Sea is of growing concern due to increasing pressure from human activities. Unknown to most people, about 15 different species of whales and dolphins can be found in the Mediterranean Sea and eight of them regularly. The situation ...