At the end of May, the Liechtenstein Office of Statistics reported an increase in the construction sector in the Principality. According to the report issued by the office, the number of construction projects rose significantly compared to the same period of 2016. Also, the number of foreign investors interested in the construction industry in Liechtenstein doubled compared on a year-to-year basis. If you want to open a company in the construction industry, you can rely on our company registration agents in Liechtenstein.
On the year-to-year basis, the number of construction projects reported by companies in Liechtenstein rose significantly during the first quarter of the year, as the number of foreign companies and entrepreneurs investing in this industry more than doubled.
The total number of building permits issued during the first months of the year reached 136, 35 more than the licenses requested during the first quarter of the previous year. Companies operating in Liechtenstein in the construction sector have applied for 49 permits for rising new buildings, while 87 permits were applied for the conversion of older buildings. Compared to these numbers, last year only 27 permits were requested for new construction projects, respectively 56 for conversion ones.
Our company formation consultants in Liechtenstein can offer information on how to apply for a construction permit.
The number of foreign investors coming to Liechtenstein with the purpose of putting money into the construction sector also led higher costs related to these projects. The costs rose by 111.7% during the first quarter of the year of 2017 compared to the first quarter of 2016 – from 76.8 million CHF to 162.7 million CHF. 116 million CHF (71.3% of the amount) were invested in residential buildings. Another significant amount was destined for infrastructure, but also for services projects.
The report issued by the Office of Statistics also show that the public authorities applied for 12 construction permits, while private companies in Liechtenstein applied for 124 licenses.
For assistance in starting a business in the construction sector, please feel free to contact our Liechtenstein company formation advisors.