Anti-Money Laundering Requirements in Liechtenstein
Institutions and Businesses Subject to Anti-Money Laundering Requirements
In Liechtenstein, various institutions and businesses are subject to anti-money laundering (AML) requirements to prevent money laundering and terrorist financing. The following entities must comply with AML regulations:
- Banks and Investment Firms: These institutions must adhere to AML regulations.
- E-Money Businesses: E-money businesses, such as online payment service providers, are subject to AML requirements.
- Undertakings for Collective Investment: Companies that market their unit certificates or units are subject to AML regulations.
- Insurance Undertakings: Insurance companies and insurance brokers must comply with AML requirements.
- Exchange Offices: Exchange offices, including those providing Trustworthy Technology (TT) exchange services, are subject to AML regulations.
- Asset Management Companies: These companies must adhere to AML requirements to prevent money laundering and terrorist financing.
- Lawyers and Law Firms: Lawyers and law firms that provide tax advice or assist in financial or real estate transactions must comply with AML regulations.
- Tax Consultancy Professions: Members of tax consultancy professions and external bookkeepers are subject to AML requirements.
- Real Estate Agents: Real estate agents who engage in transactions involving cash or crypto-assets above CHF 10,000 must adhere to AML regulations.
- TT Service Providers: TT service providers, including those offering tokens, safeguarding tokens, exchanging legal tender for crypto-assets, and managing portfolios containing crypto-assets, are subject to AML requirements.
- Trading Platform Operators: Operators of trading platforms for non-fungible tokens must comply with AML regulations.
- Art Market Professionals: Persons trading or acting as intermediaries in the art market who engage in transactions above CHF 10,000 must adhere to AML regulations.
- Custodian Banks and Safe Custody Providers: Institutions that hold third-party assets in safe custody on a professional basis are subject to AML requirements.
Types of Payments Subject to Anti-Money Laundering Requirements
In Liechtenstein, the following types of payments and money transmission activities are subject to anti-money laundering (AML) requirements:
- Cash Transactions: Cash transactions above CHF 10,000 involving goods or services are subject to AML regulations.
- Crypto-Asset Transactions: Transactions involving crypto-assets, including buying, selling, exchanging, or storing them, must comply with AML requirements.
- International Money Transfers: International money transfers, including wire transfers and online payments, may be subject to AML regulations.
- Money Laundering Risky Transactions: Transactions that are suspected of being connected to money laundering, predicate offenses of money laundering, organized crime or terrorist financing must be reported to the relevant authorities.
Exceptions
Some transactions may be exempt from anti-money laundering requirements in Liechtenstein, including:
- Low-Risk Transactions: Small transactions below a certain threshold (e.g., CHF 10,000) may not require AML reporting.
- Domestic Transactions: Transactions involving domestic parties and domestic currencies may not be subject to international AML regulations.
- Publicly Traded Securities: Transactions involving publicly traded securities on recognized stock exchanges may not require AML reporting.
- Commodities: Transactions involving commodities, such as gold or oil, may not be subject to AML regulations.
It is essential to note that the specific requirements and exceptions for anti-money laundering regulations in Liechtenstein may change over time.