Investors who want to set up companies in Liechtenstein can choose from the most important types of structures like LLC (limited liability company), companies limited by shares, trust enterprises or establishments. No matter the type of entity you wish to register, it is mandatory to appoint at least one director who oversees the daily activities and the management matters. If you want to know more details about the role of a director of a company, you should solicit help and guidance from our lawyers in Liechtenstein.
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Types of directors of a company in Liechtenstein
Once you have registered your new company with the authorities in Liechtenstein, it is recommended to name the director. This can be a natural or another company, according to the activities and the needs of the brand-new enterprise. Moreover, if the company has more than just one director, certain rules apply, such as:
• one director needs to have the residence in Liechtenstein;
• the other managers can have any other nationality.
Entrepreneurs who want to establish a foundation in Liechtenstein do not need to appoint a manager or a director, but they are obliged to appoint a foundation council. If you want to know more details about the directors of companies and their responsibilities, it is best to seek legal advice from our attorneys in Liechtenstein.
We present the following video on the responsibilities of company directors in Liechtenstein:
The duties of a director of a company in Liechtenstein
Enterprises in Liechtenstein do not need a secretary, the full responsibilities being transferred to the director or manager, such as:
• a director needs to act in the best interest of the company;
• an executive must analyze the financial status of the enterprise;
• a manager of a company in Liechtenstein needs to be aware of the daily activities;
• a director must report to the shareholders of the enterprise in Liechtenstein.
One should know that the board of directors of a company in Liechtenstein is legally responsible for neglectful or malicious breaches of errands to the establishment or to the owners of the enterprise. If a director no longer wants his/her position in the company, he/she has the right to resign the contract, announcing the shareholders who are in charge of finding a new candidate for the job.
We kindly invite you to contact our law firm in Liechtenstein, if you want to find out additional details and information about how to appoint a director for your company in the country.