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Articles

Foundations Contributed to Liechtenstein's Economy in 2016

Written by: Bridgewest

Not only is Liechtenstein as a financial center located at the heart of Europe, but it is also known as destination for wealthy individuals interested in protecting their assets through various legal entities designed for this purpose. A less known fact is that Liechtenstein has also become the favorite country for those interested in doing charitable work, as non-profit organizations delivered 219 million CHF to charitable projects in 2016, according to a recently launched survey. Our company registration agents in Liechtenstein can assist those interested in establishing NGOs in the Principality.

NGOs strengthened Liechtenstein’s position as a European financial center

 At the end of 2015, nearly 300 foundations registered in Liechtenstein participated to a survey carried out by the Association of Liechtenstein Charitable Foundations and the results show their involvement in charitable projects both in the country and abroad have contributed to the Principality’s high ranking among financial centers in Europe, closing the gap between it and countries like Switzerland or the UK. These NGOs awarded 219 CHF to charity projects and thus enhanced Liechtenstein’s image in Europe. 14% of the funds were directed towards Swiss projects.

The same survey shows that these are just one-fifth of the total number of NGOs registered in Liechtenstein, however the rest are mainly active abroad contributing to the country’s good standing. Most of the projects were developed in the social field.

The distribution of foundations in Liechtenstein

According to the Association of Liechtenstein Charitable Foundations’ report, 39% of the foundations registered in Liechtenstein activate in the education and training field, 29% of them carry our research and science projects, 23% dedicate their work to art and culture. Apart from these, 14% of the NGOs are involved in development work, while 18% are active in the environment and healthcare.

When asked about the importance of foundations, government officials said that by distributing funds and contributing to social solidarity, NGOs improve Liechtenstein’s image as a financial center in the world.

For information on the laws governing the establishment of foundations, please contact our company formation consultants in Liechtenstein. You can also rely on us if you want to open a company in Liechtenstein.

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