Investment Undertakings Division
The FMA supervises the enforcement of the Investment Undertakings Act (IUA) and the relevant ordinances, monitors compliance with regulations, and takes necessary measures.

Legal foundations

• Investment Undertakings Act (IUA)
• Ordinance on the Investment Undertakings Act (IUO)
• Ordinance on the Levying of Supervision Duties and Fees according to the Financial Market Supervision Act
• Relevant provisions of the Liechtenstein Law on Persons and Companies (PGR)

The IUA delineates the organization and the activities of investment undertakings. Its purpose is to protect investors and ensure confidence in the Liechtenstein monetary and credit system. Subject to the IUA are investment undertakings domiciled in Liechtenstein or those publicly offering or selling units in Liechtenstein or from Liechtenstein.

Licenses/Approvals

Domestic
Investment undertakings require a license by the FMA to begin operations. Applications for a license must be submitted to the FMA with documentation in accordance with the guidelines.

Evaluating applications for licenses as an auditing office, pursuant to the Investment Undertakings Acts, is analogous.

The FMA indirectly supervises investment undertakings through the auditing offices.

Foreign
The sale of units of foreign investment undertakings is subject to license in Liechtenstein or, if there is a reciprocity agreement with the State of domicile, only subject to notification.

Statistics

FMA