Opening a Liechtenstein business bank account: company forms and tax

AG, GmbH and Anstalt: company forms under the PGR

The Liechtenstein business bank account suits companies under Liechtenstein law, such as an AG, a GmbH or an Anstalt, or foreign entities, once the bank has checked their activity, qualified directors and beneficial owners. The 1926 Persons and Companies Act offers these forms, including the Anstalt, an entity specific to Liechtenstein that may have a single founder, and all are entered in the commercial register.

The 1926 Persons and Companies Act, the PGR, offers several forms: the stock corporation (AG), the limited liability company (GmbH) and the Anstalt, an entity specific to Liechtenstein that may have a single founder. All are entered in the commercial register.

The qualified director required by Article 180a

Under Article 180a of the PGR, many companies must have at least one qualified person on the board, usually a trustee licensed in Liechtenstein. This person knows the company and often eases dealings with the bank.

A 12.5 percent profit tax and an annual minimum

Companies pay a flat 12.5 percent tax on profits, with a minimum annual tax of 1,800 francs for most commercial entities. Liechtenstein levies no withholding tax on dividends distributed to shareholders.

Dual access: the Swiss market and the EU single market

Thanks to the customs union with Switzerland and the EEA, a Liechtenstein company can trade with both markets. Goods follow the Swiss customs regime, while financial services may benefit from the European passport under conditions.

Swiss-aligned VAT in the principality

For your Liechtenstein business bank account, note that the country applies VAT aligned with Swiss VAT under the customs union. A VAT-registered company therefore invoices at Swiss rates, and its trade with Swiss customers and suppliers is largely treated like domestic business.

The beneficial owner register since 2021

The law on the register of beneficial owners, in force since 2021, requires companies to register their beneficial owners. The bank compares these data with its own checks and may report any discrepancy to the competent authority.

A company’s onboarding file at LGT Bank

To open a company account at LGT Bank, you need the commercial register extract, articles, the list of officers and signatories, identification of beneficial owners and a precise description of the business and expected flows.

Trading companies and domiciliary companies

A company with a real business in Liechtenstein, with offices and staff, has a different profile from a domiciliary company administered by a trustee. Banks apply heightened scrutiny of substance and purpose to the latter.

International payments in francs, euros and dollars

A company bank account can be multi-currency: businesses often hold accounts in francs, euros and dollars to pay suppliers and receive customer payments. Euro transfers use SEPA, and franc payments run through the Swiss SIC system, just as for Swiss companies.

Shareholders resident in France: reporting duties

A director living in France who signs on a Liechtenstein company account reports that power of attorney on Form 3916. If the company is managed from France, the tax authorities may also challenge its tax residence.

Documents to prepare for a Liechtenstein business bank account

Before approaching a bank, gather the papers that describe the company and the people running it: commercial register extract, articles, identity documents for the signatories and a recent proof of address. Depending on the institution, certified or translated copies may be requested, especially when the documents are written in neither German nor English, so that the compliance team can read them without an intermediary. Keep these papers in one dated digital folder with clear file names.

The bank also wants to understand the real business: a description of products or services, main customers and suppliers, the countries payments come from and go to, and expected volumes over the year. The more precise this business plan is, and the better it matches the articles, the fewer additional questions the compliance review will raise and the easier it is for the adviser to support your request internally. Also note the questions that keep coming back, so you answer the same way each time.

Also prepare evidence on the beneficial owners and on the source of the funds paid into the capital: annual accounts, a sale contract, bank statements or a letter from the trustee. In practice, an incomplete file is the first cause of delay, and timing varies by bank and by the complexity of the ownership structure behind the company. Ask at the very start for the full list of supporting documents, to avoid successive requests.

The steps to open a company bank account

The process usually starts with a first conversation with an adviser or, very often, through the trustee who administers the company. This first contact lets you check that the entity’s profile fits the bank’s policy before a full file is assembled, and it avoids hours of preparation for a request that would not match the institution’s criteria. Each completed step should be confirmed in writing, which keeps the timetable reliable.

Next comes the collection phase: account opening forms, identification of the people linked to the account, the entity’s tax self-certification and a declaration of activity. The bank screens sanctions lists, checks the consistency of the documents and the risk profile, and may then ask for written clarifications or a meeting with the directors, sometimes by video call depending on its policy. Also allow for translation or certification times, which often add to the bank’s own.

Once a decision is made, the signatories receive the fee schedule, online banking access and payment instruments. No bank guarantees an opening in advance: the decision depends on the review of the file, and the real timing becomes clear only with the institution you choose, which will usually set out the next steps in writing. A regular check-in with the trustee quickly shows any missing document.

Common mistakes when applying for a corporate account

The most frequent mistake is describing the activity vaguely, for instance as “consulting” or “trading”, without identified customers or flows. A mid-sized bank prefers readable files: a company whose business model is not explained will be treated as a high-risk structure, which makes it harder to obtain a business account in Liechtenstein. A reasoned refusal remains possible, and it is better to understand it than to work around it.

Another common weakness is inconsistency between documents. Articles that state a different purpose from the declared activity, poorly documented beneficial owners or capital paid in without evidence all slow the file. Have the trustee review everything before submission to limit back-and-forth with the compliance team and to keep a single, final version of each document. Ask how anomalies are flagged so that you can correct the file without losing time.

Finally, avoid approaching several banks with files that do not match, because the answers you give must remain identical from one institution to the next. Keep a record of every exchange, and never present projections that you will later be unable to support with contracts, orders or invoices. An honest presentation of the activity’s limits inspires more trust than an over-optimistic story.

Questions to ask the bank and useful checks

Ask the bank about its account-keeping terms, transfer fees, available currencies, online payment limits and whether cards can be issued to directors. Also ask who your day-to-day contact will be and how the bank handles requests for supporting documents after the account is open, because these exchanges come back regularly throughout the relationship. Write down the answers you receive so that you can compare several offers properly.

Compare an in-person opening with a remote process: being present makes identification easier, while remote handling relies on certified documents and an available trustee. Depending on the bank, one route or the other is preferred, and some require at least one meeting with a signatory before they validate the company bank account. This comparison avoids choosing on the account-keeping fee alone.

Finally, check that the institution is supervised by the Liechtenstein financial authority, and find out about your tax duties in your country of residence. Automatic exchange under CRS and FATCA applies to the accounts concerned, so clear and documented reporting remains the best protection for the company and for its directors alike. If in any doubt, consult an independent tax adviser before signing.