Company Management in Liechtenstein
Company Management in LiechtensteinUpdated on Monday 18th September 2017
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The main role of the management of a company is to determine the directions of a business and its lines of operation. The people who represent the top management have the responsibility and power of decision on the outline that the company must follow. There are several levels in the management structure of the company, comprising as well the management of personnel. The management of a business is important because it calculates the risks which endanger the company and develops strategic programs in order to enhance the economic success of the enterprise. Our law firm in Liechtenstein is ready to offer you legal counseling and more information regarding the issues of company management.
Hierarchical structure of management in Liechtenstein
If you intend to open a company in Liechtenstein it is normal to think about the first steps of organizing the management of the enterprise. Typically this structure is a hierarchical one, because of its proven efficiency even in big companies who work with several hundred employees.
On the first level of authority can be found the top management of a company, who has as the main task to decide and enforce various measures in order to orient the business on a particular line of development. Consequently, the subordinates are going to follow the strategies enforced by the managers, by implementing the short and long term plans designed by their superiors. The structure gives balance to a business and organizes the work of many people into one cohesive and coherent move.
Our Liechtenstein lawyers can provide you more relevant information on the leading structures of a company in this country.
We invite you to watch the following video for additional information on the reuqirements for company management in Liechtenstein:
Directors of a company in Liechtenstein
One of the main responsibilities of a director of company in Liechtenstein is to act in the best interest of the enterprise in which he/she works. According to the Company Law, an enterprise registered in Liechtenstein requires at least one director, which can be of any nationality. There is no specific requirement for the director to be a resident of this country in order to be able to run the company.
The following list summarizes some of the main fiduciary duties of a director in a Liechtenstein company:
• care, referring to the duty to inform himself/herself before taking an important decision in the company;
• loyalty - not employ privileges for private interests;
• good faith which implies to act responsibly and in the interest of the company.
The duties of the director can be found in the documents elaborated with the formation of a company. Don’t hesitate to contact our attorneys in Liechtenstein for a wide range of legal services as well as for more detailed explanations regarding the management of a company in Liechtenstein.