The Liechtenstein financial centre possesses trump cards that will enable it to play an important role in the future, according to Prince Hans-Adam II. Industry is also a decisive factor for the countrys economic success, he said.
The automatic exchange of information between Liechtenstein banks and tax authorities in important partner countries came into force at the start of the year. According to Prince Hans-Adam II, the financial centre is well prepared for it. We will be able to manage well with the automatic exchange of information, he said during his traditional new years interview with Radio L. He added that the financial centre possesses important trump cards, including favourable conditions, low taxes, well educated employees, extremely competent businesses, and interesting opportunities for investors within foundations and institutions.
International change will benefit the financial centre, according to the Prince. He said that once the automatic exchange of information was implemented on an international level, the benefits for Liechtenstein would be brought to bear. He commented: We have a strong starting point. The Princely Familys own bank, the LGT Group, expects renewed growth in new assets, including at its headquarters in Liechtenstein.
The Prince went on to explain that industry is also a significant factor for the countrys success. Industry is a decisive factor for our diversified economy, he said. Over and over again, people abroad are amazed that a country with such high wages has so much industry.
In the interview, Hans-Adam II also spoke out against an increase in corporate taxes. He argued that such an increase could cause salaries to fall or businesses to move abroad.