TAXATION

A Liechtenstein Foundation is not subject to any form of income tax, capital tax, transfer taxes or inheritance taxes in Liechtenstein.

DIRECTORS

The Liechtenstein nominated settlor is required to appoint a Board of Directors and these details appear on the public file at the Liechtenstein Registry.
It is a legal requirement that there is at least one Liechtenstein individual board member however, additional directors are permitted and these may be of any nationality or residence and can either be individuals or corporate entities.
We recommend that ICSL provides at least one director.

THE BY-LAWS

The by-laws, better known as the wishes of the beneficiaries are normally drawn up with assistance by the Settlor and ICSL.  These details are not available on public record and details of this document need only be held at the premises of the Registered Agent located in Liechtenstein.
It is important that the by-laws clearly state what the wishes of the beneficiaries are and what should happen in the event of demise.
The by-laws are perhaps the most important instrument and form an integral part of the Foundation.  It is important that client's seek legal advice before the by-laws are finalised.  ICSL are able to advise a client on how these should be drafted.

ANNUAL REPORTING

The registered agent is required to file the Capital tax to the Liechtenstein Registry every year, but a family foundation that does not actively trade is not required to file audited accounts.

CAPITALISATION

The minimum nominal capital (Foundation Fund) is SF30,000 or the equivalent value in any desired legal currency.  Before the Foundation is established it is a legal requirement to pay up the nominal capital in advance and the nominal capital amount must be paid into a Liechtenstein Bank.  The Liechtenstein bank must give a certificate to the Liechtenstein Registry to verify that the required capital has been paid up for the purpose of creating a foundation.
ICSL are able to furnish full details of our Bankers in Liechtenstein for the purpose of paying in the nominal capital.

RESTRICTIONS
RESTRICTION ON NAME AVAILABILITY

Since the name of the Foundation must be registered with the Liechtenstein Registry we recommend that we receive a list of three names, since first choices may not always be available  It is not permissible in Liechtenstein to use place names, state name, country names or well known international names.