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Liechtenstein: Offshore Legal and Tax Regimes

Inclusion on FATF Blacklist

In June 2000, Liechtenstein was identified by the FATF as a non-cooperative and harmful tax haven. The FATF released its next annual report in June 2001, in which the organisation revised its list of countries and territories deemed non-cooperative. Only four were removed from the list, including Liechtenstein (the other three being the Cayman Islands, the Bahamas and Panama). Liechtenstein was praised by the FATF for its substantial efforts to conform to forty recommendations set out by the FATF in a code of good practice governing money laundering.

By July, 2002, the FATF was able to say that Liechtenstein was 'no longer on its radar'.

On the issue of 'lists,' Liechtenstein was elevated from the OECD's 'grey list' to its 'white list' after signing a number of Tax Information Exchange Agreements in 2009, meaning that it complied with internationally agreed standards of tax transparency and information exchange.

 

 

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