Liechtenstein is an EEA member in a customs and currency union with Switzerland, with companies entered in the Commercial Register (Handelsregister) under the Persons and Companies Act (PGR). It is distinctive for the TVTG "Blockchain Act" — the first comprehensive token-economy law — and a flat 12.5% corporate tax.
Most founders use the Aktiengesellschaft ("AG", stock company) or the Gesellschaft mit beschränkter Haftung ("GmbH") under the PGR. Alternatives include the Anstalt (establishment) and the Stiftung (foundation), widely used for asset-holding.
A GmbH requires capital of CHF 10,000 (≈ $12,600) and an AG CHF 50,000 (≈ $63,000) (capital may be denominated in CHF, EUR, or USD), paid in on formation. There is no shareholder residency requirement and 100% foreign ownership is allowed, but in practice a qualified Liechtenstein-resident director is required for licensing and substance. Registration via the Commercial Register typically takes a few weeks; token-economy businesses register and are supervised under the TVTG and the Financial Market Authority ("FMA").
The Tax Administration charges corporate income tax at a flat 12.5% (minimum tax CHF 1,800 (≈ $2,270), with a 4% notional interest deduction often lowering the effective rate), with a participation exemption and no withholding tax. VAT follows the Swiss system at 8.1%, with registration once turnover exceeds CHF 100,000 (≈ $126,000). Beneficial owners are recorded under AML rules.