Liechtenstein

IFLR1000 Reviews

Overview

Solicitors governing body: Liechtenstein Chamber of Lawyers

Competition authority: Amt für Volkswirtschaft (AVW)

Financial regulator: Financial Market Authority Liechtenstein (FMA)

IFLR1000 ranking categories for this jurisdiction: 

Financial and corporate

Jurisdiction overview

Liechtenstein’s legal system has its origins in the 19th century and is based largely on Austrian and Swiss law. The country has close connections to Switzerland, and as well as a maintaining a monetary and customs union with the state, it has also devolved responsibility for military and foreign affairs to its neighbour.

The country has a relatively open legal services market, so while only foreign firms from EEA states are allowed to open offices, such firms are allowed to practice local law and a lawyer does not need to be a Liechtenstein citizen to qualify as a local lawyer.

The country’s economy is based on the financial sector and company incorporation. Low tax and light regulation around rules of incorporation have encouraged a huge range of companies to establish themselves as Liechtenstein entities and it is said that the country has more companies than citizens. In the financial sector, the establishment of ‘foundations’ is also popular as they do not require transparent ownership details. Since the global financial crisis, Liechtenstein has come under increasing pressure from foreign governments to make its finance sector more transparent and cooperative in regard to international investigations.

Because of the reasons stated above, lawyers in Liechtenstein tend to focus on trust and foundation law, company incorporation, tax and disputes. Little classic transactional work is done and the details of what few deals do take place are rarely in the public domain.

The market consists almost entirely of Liechtenstein domestic firms often consisting of no more than a handful of senior lawyers.

Financial and corporate
Schurti Partners

Initially established in 1991, Liechtenstein based firm Schurti Partners rebranded to its current name in 2020.

 

Focusses / specialisms

The firm covers a range of financial and corporate work, often advising on cross border mandates. It is regularly instructed by international firms to advise as local counsel on financings, acquisitions and restructurings.

The firm's lawyers are qualified in Liechtenstein, England and Wales, Switzerland, Germany and Austria, and in several US states.

 

Key clients

Its client base includes a mix of domestic and international banks, insurance companies, funds and trustees, and high-net worth individuals.

 

Research period review: 30th edition (2019/2020)

During the research period he firm advised on cross border restructuring and financing work, working for clients with holding companies established in Lichtenstein. It was especially active in the insurance sector. 

 

Client feedback: 30th edition (2019/2020)

Financial services regulatory

“Very good availability and responsiveness. They are there when you need them, no matter what.   Capacity to handle also the largest and most complex matters due to a very robust and experienced team. Very good leadership.”

 

Investment funds

“Cooperative, knowledgeable and solution oriented.”

 

M&A

“Very accurate and detailed.”

 

Alexander Appel

Very accurate and detailed.

 

Moritz Blasy

“Very smart mind who immediately tracks the core issues and key solutions for complex situations. Dr Blasy has good strategic understanding and is skilled at predicting which an advantage in evolving situations is.”

 

Simon Ott

“Knowledgeable and skilled at problem solving.”