Liechtenstein has been a member of the European Economic Area (EEA) since 1 May 1995. Contacts with the EEA are an important part of Liechtenstein foreign relations. Liechtenstein’s EEA membership has important consequences for the development of the Liechtenstein financial center. For instance, it entails that Liechtenstein financial intermediaries can profit from the freedom of establishment and movement of services when offering cross-border financial services within the EEA. At the same time, accession to the EEA came with the commitment to continuously implement all EEA-relevant legal acts of the EU in the financial services sector into domestic law, in accordance with the provisions established by the EEA Agreement. The legal acts implemented in the financial services sector are enumerated in Annex IX of the EEA Agreement; the collection of EEA laws is administered by the EEA Coordination Unit , which is responsible for coordinating all affairs relating to EEA law.

On the one hand, EEA membership means greater opportunities for the Liechtenstein financial services sector, thanks to the elimination of discrimination in accessing EEA financial markets; on the other hand, it also means greater competition from EEA member States.

With respect to supervision, the EEA brings the commitment to comply with supervisory law standards and principles applicable to the entire EEA. In the areas of supervision harmonized throughout the EEA, the principles of mutual recognition of the equality of supervisory authorities apply. The relevant Liechtenstein supervisory authority is therefore recognized a priori as an equal supervisory instance by the other EEA supervisory authorities. This leads to a facilitation both of approval conditions for EEA financial intermediaries and of cross-border supervisory activities for the relevant supervisory authorities within the EEA.

In addition to the supervisory norms of the EEA, international supervisory principles must also be taken into account, as outlined in the chapter on International Assessments .

Participation in EU meetings
Liechtenstein is present in numerous meetings and EU committees. As a non-member of the EU, Liechtenstein, like Norway and Iceland, enjoys observer status. This means that Liechtenstein has no right to vote, but it does provide the opportunity to maintain informal contacts and to follow current developments directly.

Overview of the most important meetings in which Liechtenstein participates .