Professional
trustees are authorized to establish legal entities, companies, and trusts for third parties, in their
own name and on the account of third parties, to undertake related interventions with authorities and
Government Offices, to serve on boards of directors in accordance with article 180a of the Law on Persons
and Companies, to assume trust mandates, and to engage in investment counseling, asset administration,
financial counseling, economic counseling, tax counseling, accounting and auditing, to the extent these
activities do not fall within the exclusive domain of auditors and auditing firms (article 1 paragraph
2 and article 7 paragraph 1 of the Law on Professional Trustees). Trustees
with a limited license (registered lawyers with the legally required educational certification in accordance
with article 2 of the Law on Professional Trustees who have successfully passed the additional examination
in accordance with article 6a of the Law on Professional Trustees) are authorized to establish legal
entities, companies, and trusts for third parties, in their own name and on the account of third parties,
to undertake related interventions with authorities and Government Offices, to serve on boards of directors
in accordance with article 180a of the Law on Persons and Companies, and to assume trust mandates (article
1 paragraph 3 und article 7 paragraph 2 of the Law on Professional Trustees). Trust
companies: Trustee activities may also be undertaken in the form of a legal entity. A licensed trustee
in accordance with article 1 paragraph 2 of the Law on Professional Trustees must serve full-time in
the management of this legal entity. A licensed trustee is authorized to practice as an individual,
as manager of a legal entity, or as manager of two legal entities (article 7 paragraph 1, article 31
paragraph 1 and article 32 of the Law on Professional Trustees). Trust
companies with a limited license: Limited trustee activities may also be undertaken in the form of a
legal entity. A trustee with a limited license in accordance with article 1 paragraph 3 of the Law on
Professional Trustees must serve full-time in the management of this legal entity. A trustee with a
limited license is authorized to practice as an individual, as manager of a legal entity, or as manager
of two legal entities (article 7 paragraph 2, article 31 paragraph 2 and article 32 of the Law on Professional
Trustees). The Liechtenstein Association
of Professional Trustees  is constituted by professional trustees and trust
companies practicing in accordance with article 7 of the Law on Professional Trustees. The Association
of Professional Trustees is a body under public law and, to safeguard legality, is subject to the overall
supervision of the Government (articles 25 et seq. of the Law on Professional Trustees). |
