Commercial Code in Liechtenstein
Commercial Code in LiechtensteinUpdated on Thursday 09th August 2018
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The Commercial Code in Liechtenstein consists mainly of Swiss and Austrian law with local adaptations. The two main corporate legislations are the PGR Code (Personen und Gesellschaftsrecht) or the Company Law and the Commercial Law which is made up of several other laws and acts concerning competition, commercial regulation as well as the protection of customers.
The Company Law and the Commercial Law are relevant for all types of companies in Liechtenstein. For in-depth counseling regarding the most prevalent elements of the Commercial Code, you can rely on the legal advice of a law firm in Liechtenstein.
The main provisions of the Liechtenstein Commercial Code
The Company Law, one of the key legislative documents that regulate commercial activities, relies on liberal principles, providing the regulations concerning the commercial relations between persons and businesses. This code comprises:
- • The Company Law, a body of laws which stipulates the types of legal entities and the afferent legal actions concerning foundation and business accountancy;
- • The Law on Banks and Finance Companies;
- • The Law on the Supervision of Insurance Undertakings;
- • The Law on Investment Undertakings;
- • The Law on professional due diligence in the acceptance of assets.
The PGR Code allows many different forms of corporate associations, holding companies and domiciliary enterprises. It also establishes the steps for bankruptcy and the manner in which investors may close down a company in Liechtenstein that is no longer profitable.
The Commercial Law in Liechtenstein also deals with several topics of interest for companies in Liechtenstein, as listed below:
- - Commercial regulations: regulated business activities and professions the conditions for obtaining the permits and licenses for activating in these business fields.
- - Consumer protection: fair trade and the accurate provision of information for customers in selected markets.
- - Competition regulations: legal provisions against unfair competition, mainly based on the EU laws relevant to this topic.
- - Copyright and other rights: the general law and the subsequent acts and relevant legislative documents on intellectual property protection.
These are just part of the topics covered by the Commercial Law and the related, relevant applicable laws. Our team of lawyers in Liechtenstein can answer your questions regarding the specific commercial or trading activities referred to by the Commercial Code.
Company compliance in Liechtenstein
The corporate laws and the compliance requirements for companies in Liechtenstein were designed to allow for a flexible and attractive investment market. The business-friendly regime and the country’s position between Austria and Switzerland have ensured its attractiveness for foreign investors.
Setting itself apart from other business areas, Liechtenstein’s financial sector is well-developed and enjoys a modern and attractive regulatory regime.
Apart from offering a welcoming business climate, Liechtenstein also offers a simple and low taxation regime with a low VAT rate.
Investors interested in starting a business in Liechtenstein or those seeking professional legal assistance concerning Commercial Law can contact our attorneys in Liechtenstein.