It may surprise you to learn that the number one reason for people moving money offshore is not because of tax benefits but asset protection. Today's predaceous and litigious society unfortunately makes successful people vulnerable to lawsuits of every kind.

Jurisdiction	Liechtenstein
Liechtenstein IBC	Only US$499

Why Liechtenstein? Rigorous Bank Secrecy Laws in Liechtenstein The economy lives with secrets and from secrets. Confidentiality is therefore an important prerequisite for the successful functioning of the economy. The duty of non-disclosure imposed upon banks is of special significance. The duty of confidentiality incumbent upon banks prohibits the release of all information which the bank has access to as a result of its client contacts. In Liechtenstein bank secrecy is expressly anchored in the banking law. It guarantees the anonymity of the investors as well as the economic success of the financial services sector.

Liechtenstein : Pure tax haven

Principality of Liechtenstein The Principality of Liechtenstein lies in the region of the Upper Rhine between the Swiss Canton of St. Gall and the Austrian Federal State of Vorariber. The topography is mainly mountainous, other than the Rhine plain, which is the most populated area. Population The Principality of Liechtenstein has a population of approximately 30,000 people. Political Structure The Reigning Prince is Head of State and the Diet (parliament) has 25 elected members who propose the Head of Government, Deputy and 3 Councillors who form the Government and are not members of the Diet. Liechtenstein is a member of the United Nations; the Council of Europe, EFTA and the EU, and membership of these does not influence local fiscal policy.

The Majestic Land

Language The official language of The Principality of Liechtenstein is German, although a dialect is spoken widely. English is also spoken and is used in most commercial transactions and communications. Currency The official currency of The Principality of Liechtenstein is the Swiss Franc. Exchange Control Under the treaty with Switzerland, there are no foreign Exchange Controls. Type Of Law Civil Law. Based on Swiss and Austrian law with local adaptations. Principal Corporate Legislation Personen und Gesellschaftrecht mit dem Gesetz über das Treuhandunternehmen 1926 (Persons and Companies Law with the Law on Registered Trusts).

Liechtenstein Castle

Company Formation Type Of Company For International Trade And Investment Aktiengesellschaft - AG (Company Limited by Shares). Gesellschaft mit beshränkter Haftung - GmbH (Private Limited Company without Shares). Anstalt (Establishment, commercial and non-commercial without shares). Treuunternehmen (Registered Trust). Treuhandschaft (Trust). One of the main attractions of Liechtenstein is its extremely flexible company law, which allows for the creation of any type of legal organization, which is recognized under the law of any jurisdiction in the world. There are three main types of commercial entities in use – the Establishment or Anstalt, the family foundation and the company limited by shares. The most important entity for tax purposes is the Anstalt, which is commonly used by foreign companies as a holding company for overseas subsidiaries. The Anstalt is an entity, which has no members, participants or shareholders, and is a hybrid between a company limited by shares and a foundation. It is popular because, with minor exceptions, it is free to conduct all kinds of business, including non-trading activities such as holding passive investments.

Liechtenstein Is The Switzerland Of Switzerland

Procedure To Incorporate
The procedure for the establishment of Liechtenstein entities follows Civil Law practice. The procedure requires the submission to the Offentlichkeitsregister (Public Registry) of the following information:

• The Deed constituting the statutes and By-laws signed by the subscriber or agent.

• The proposed name of the company.
• Share capital, division of capital and type of shares (where appropriate).
• A declaration that the minimum capital has been paid in to a Bank in either Liechtenstein or Switzerland.
• Names, addresses and nationalities of directors and confirmation that they consent to act as directors.
• Names, addresses and nationalities of shareholders (for Installs).
• Confirmation that a Liechtenstein resident representative has been appointed.

Powers of Company
The powers of Liechtenstein bodies corporate are contained in the Company’s statutes, but may be defined in such a way to provide general powers.

Language Of Legislation And Corporate Documents
German, but foreign language translations can be obtained.

Registered Office Required
Entities must appoint a local representative.

Shelf Companies Available
Owing to the costs associated with incorporation and the paid up share capital requirements, shelf companies are not widely available.

Time Scale To Incorporate
Subject to the proposed name being approved by the Public Registry and the criteria for incorporation has been strictly adhered to, a body corporate or trust can be established in 5-7 working days.

Name Restrictions
A name that is identical or similar to an existing name. A major name that is known to exist elsewhere. A name that may imply government patronage. A name that in the opinion of the Registrar may be considered undesirable. Language Of Name
The name of a body corporate or trust entity may use any language using the Latin alphabet, but the Public Registry may require a German translation.

Name Requiring Consent Or A license
The following names or their derivatives: bank, building society, savings, insurance, assurance, re-insurance, fund management, investment fund, Liechtenstein, state, country, municipality, principality, Red Cross and their foreign language equivalents.

Suffixes To Denote Limiter Liability
Aktiengesellschaft - AG.
Gesellschaft mit beshränkter Haftung - GmbH.
Anstalt - Est.

Disclosure Of Beneficial Owner To Authorities
None, but bank character references on the beneficial owners must be provided to the local representatives/trust management company.

Share Capital, Taxation, License Fees And Compliance Matters

Authorized And Issued Shares Capital
The minimum authorized issued and paid up share capital for:

An Aktiengesellschaft is CHF 50,000. An Anstalt is CHF 30,000. A Stiftung is CHF 30,000. A Trust Enterprise is CHF 30,000.

Liechtenstein IBC Only $499

Classes of Shares Permitted
An Aktiengesellschaft may issue registered, bearer, no par value, preference shares and shares with special voting rights.
A GmbH, anstalt, stiftung and a trust do not have shares.

Bearer Shares Permitted
Yes, for Aktiengesellschaft only.

Taxation
An Aktiengesellschaft pays a 4% coupon tax on dividends and an annual capital tax of 0.1% on the net asset value of the company. The annual minimum is CHF 1,000.
An Anstalt, whether commercial or non-commercial provided the capital has not been divided does not pay a coupon tax, but has to pay an annual capital tax of 0.1% on the net asset value of the company. The annual minimum is CHF 1,000.
A Stiftung, whether registered or deposited, does not pay a coupon tax, but has to pay an annual capital tax of 0.1% on the net asset value of the company. The annual minimum is CHF 1,000.
Trusts pay a minimum annual tax of CHF 1,000 - or 0.1% on the net asset value.

Double Taxation Agreements
Liechtenstein has only one double tax agreement, which is with Austria.

License Fees
See taxation.

Financial Statement Requirements
An Aktiengesellschaft and GmbH are required to submit audited financial statements to the Liechtenstein tax administrator for assessment.
A commercial Anstalt is required to submit audited financial statements to the Liechtenstein tax administrator.
A non-commercial Anstalt need not submit accounts to the Liechtenstein tax administrator, solely a statement by the Bank that a record of assets is available.
A Stiftung need not submit accounts to the Liechtenstein tax administrator, solely a statement by the Bank that a record of assets is available.

Structure Of Management
Directors
The minimum number of directors for Aktiengesellschaft, GmbH and Anstalt is one. The directors may be natural persons or bodies corporate and can be of any nationality, but at least one director must be a natural person, a resident of Liechtenstein and qualified to act.
The Liechtenstein Stiftung does not have a board of directors, but appoints a Foundation Council, who may be natural persons or bodies corporate. They may be of any nationality but at least one member of the Council must be a natural person, a resident of Liechtenstein and qualified to act.

Company Secretary
The concept of a company secretary is not recognized in The Principality of Liechtenstein.

Shareholders
The minimum number of shareholders/equity participants/ beneficiaries of any Liechtenstein entity is one.

MAILING, FAX, TELEPHONE AND OFFICE FACILITIES

As part of the domiciliary service fee we provide clients with a registered office address in the country of incorporation but clients may find it convenient to arrange for mail forwarding, fax and telephone facilities through our Switzerland, The Bahamas Islands, London or other Petro International's world-wide affiliated brokers offices. This service may be especially useful where, for example, the company is opening bank accounts. Normally the bank would address statements and other correspondence to the company at the address of the client but this results in a loss of confidentiality in that the connection between the company name and the client will be automatically made.

To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability.

For example, your offshore company could quote Petro International London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum.

TRUST SERVICES:

Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settler. These advantages may include:

SAVING OF INHERITANCE TAX:

On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated.

ASSET PROTECTION:

Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc.

AVOIDANCE OF PROBATE:

A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will.

CONTINUITY:

Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself.

LIFETIME TAX SAVINGS:

During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services.

OTHER SERVICES: Petro International provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services. VIP PACKAGE: Available at slightly higher cost

Liechtenstein The One And Only

Confused? The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in an offshore company formation or registering of a bank or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes. Petro International has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore.

We trust that we have clarified the intriguing world of Liechtenstein International Business Company Formation. We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services.

The majority of people are frequently confused by the complexity of International Business Company or international tax planning and discouraged by the substantial costs involved in registering a company or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what an average person could save in taxes.

Petro International has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to form an International Business Company.

The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can open a financial account under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.

If you would like to obtain further details of the legislation surrounding the formation of an International Business Company (IBC) in Liechtenstein or wish to discuss any matter in complete confidence, please click here to contact:
Mr. John Cooper
Petro International Offshore Services

Please click here to explain us the full particulars of your situation and what you wish to accomplish. We will review your situation very carefully and offer to you a custom fitted solution. 95% of the time the solution will be simple to understand and 100% of the time it will be the least expensive alternative.

Please feel free to contact Petro International if you believe the formation of a Liechtenstein IBC at the present time may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL.

Other Jurisdictions?

Petro International is in a position to assist new and established clients in opening personal and corporate offshore bank or trust accounts, denominated in almost every currency, in over 125 of offshore jurisdictions world-wide, including:
New Zealand, Australia, Chile, The Dominican Republic, Ireland, Argentina, Belize, Brazil, Spain, Italy, Costa Rica, Venezuela, Uruguay, Prague, Bodrum, The Spanish-Moroccan Tax Havens, The Madeira Tax Haven of Portugal, The Jamaican Free Trade Zones, The Dominican Republic Free Trade Zones, Campione D'Italia, Andorra, Poland, The Eastern Turkish Border and Tbilisi, Mozambique, Guatemala, The Virgin Islands, The Philippine Islands, and Anguilla are just some of the countries and places featured.