Anti-Money Laundering Requirements in Liechtenstein

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Liechtenstein has implemented various measures to prevent money laundering and terrorist financing through its anti-money laundering (AML) regulations. This article outlines the financial institutions, non-financial businesses, and professions subject to AML requirements in Liechtenstein.

Financial Institutions Subject to AML Requirements

The following financial institutions are subject to AML requirements:

Banks and investment firms: These institutions deal with large sums of money and provide various financial services.
E-money businesses: E-money businesses must comply with AML regulations to prevent money laundering and terrorist financing.
Undertakings for collective investment: These entities manage collective investment funds, such as mutual funds or hedge funds, and are subject to AML requirements.
Insurance undertakings: Insurance companies must comply with AML regulations to prevent money laundering and terrorist financing, particularly when dealing with life insurance policies and other investments.
Exchange offices: Exchange offices exchange currencies or provide foreign exchange services and are subject to AML requirements.

Non-Financial Businesses and Professions Subject to AML Requirements

The following non-financial businesses and professions are subject to AML requirements:

Insurance brokers: Insurance brokers must comply with AML regulations when facilitating transactions involving large sums of money.
Payment service providers: Payment service providers, such as banks that offer payment services, must comply with AML regulations to prevent money laundering and terrorist financing.
Asset management companies: Asset management companies manage investment portfolios for clients and are subject to AML requirements.
Providers of certain services for legal entities: Certain service providers, such as lawyers or accountants, who work with legal entities must comply with AML regulations when dealing with large sums of money or sensitive information.
Casinos and online gaming providers: Casinos and online gaming providers must comply with AML regulations to prevent money laundering and terrorist financing.
Lawyers and law firms: Lawyers and law firms that provide tax advice or assist in the planning and execution of financial or real estate transactions are subject to AML requirements.
Tax consultancy professions and external bookkeepers: Tax consultants and external bookkeepers who work with individuals or companies must comply with AML regulations when dealing with large sums of money or sensitive information.
Real estate agents: Real estate agents must comply with AML regulations when dealing with large sums of money or sensitive information related to property transactions.
Persons trading in goods: Individuals or businesses that trade in goods and receive payment in cash or via cryptocurrencies worth CHF 10,000 or more are subject to AML requirements.
Token service providers: Token service providers, which include various types of companies involved in token-based activities, must comply with AML regulations to prevent money laundering and terrorist financing.
Trading platform operators for non-fungible tokens: Trading platforms that deal with non-fungible tokens must comply with AML regulations to prevent money laundering and terrorist financing.
Art trade intermediaries: Individuals or businesses that trade in artworks and receive payment worth CHF 10,000 or more are subject to AML requirements.
Safe custody services providers: Companies that hold assets in safe custody for clients must comply with AML regulations to prevent money laundering and terrorist financing.

Activities Subject to AML Requirements

The following activities are subject to AML requirements:

Cash transactions: Transactions involving cash worth CHF 10,000 or more are subject to AML requirements.
Cryptocurrency transactions: Transactions involving cryptocurrencies worth CHF 10,000 or more are subject to AML requirements.
Token-based activities: Activities related to tokens, such as token issuance, trading, and custody, must comply with AML regulations.
Non-fungible token (NFT) trading: Trading platforms that deal with NFTs must comply with AML regulations.
Art trade transactions: Transactions involving artworks worth CHF 10,000 or more are subject to AML requirements.

Exemptions

There are no exceptions listed in the provided text for these activities and businesses. However, it is possible that certain exemptions may apply under specific circumstances or for certain types of entities.