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Licensing Process for Banks and Investment Firms in Liechtenstein

Overview

The licensing process for banks and investment firms in Liechtenstein involves several key steps and requirements. This article provides a summary of the main points to help guide you through the process.

Application Documents

The documentation required for a license application is specified in Article 28(1) of the Banking Act (BA) and Delegated Regulation (EU) 2022/2580. A checklist (Annexes 2-6) outlines the specific documents needed.

  • Checklist: Annexes 2-6 provide a comprehensive list of required application documents.
  • Regulatory References: Article 28(1) of the Banking Act (BA) and Delegated Regulation (EU) 2022/2580 specify the requirements for license applications.

Charges

There is a licensing fee of CHF 100,000 for banks (reduced to CHF 50,000 in certain cases) and CHF 30,000 for investment firms.

  • Licensing Fees: The fees for banking and investment firm licenses are specified above.
  • Reduced Fees: Certain conditions may qualify you for a reduced fee of CHF 50,000 for banks.

Taxes

General information on taxation can be obtained from the Liechtenstein Tax Administration.

  • Taxation Information: For detailed information on taxation in Liechtenstein, please contact the Liechtenstein Tax Administration.
  • Regulatory References: The relevant laws and regulations governing taxation in Liechtenstein are applicable.

Commercial Register Registration Fee

Fees are set forth in the Liechtenstein Land and Commercial Register Fees Ordinance.

  • Commercial Register Fees: The fees for commercial register registration are specified in the Liechtenstein Land and Commercial Register Fees Ordinance.
  • Regulatory References: This ordinance provides the necessary information on commercial register registration fees.

Expiration, Withdrawal, and Revocation of Licenses

The rules governing expiration, withdrawal, and revocation are outlined in Articles 27-29 of the BA.

  • License Expiration: The conditions for license expiration are specified in Article 27 of the Banking Act (BA).
  • Withdrawal and Revocation: Articles 28-29 of the Banking Act (BA) outline the procedures for withdrawing or revoking licenses.

Data Protection

The FMA processes personal data in accordance with the General Data Protection Regulation (Regulation (EU) 2016/679).

  • Data Protection Regulation: The FMA adheres to the General Data Protection Regulation (Regulation (EU) 2016/679).
  • Personal Data Processing: The regulation outlines the requirements for processing personal data.

The licensing process is based on various laws and regulations, including the Banking Act (BA), Banking Ordinance (BO), Persons and Companies Act of 1926, Due Diligence Act (DDA), Due Diligence Ordinance (DDO), Commission Delegated Regulation (EU) 2022/2580, FMA Communication 2013/07, and FMA Guidelines 2017/20 to 2017/9.

  • Regulatory Framework: The licensing process is governed by a comprehensive set of laws and regulations.
  • Relevant Laws and Regulations: This list provides an overview of the key legislation governing the licensing process.