Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FMA decision, including banking and payment rails.
Get an investment license in Liechtenstein.
The EEA passport with Swiss-style discretion: an FMA asset management company licence under the Asset Management Act - CHF 100,000 initial capital, portfolio management, advice, order handling and execution while client assets stay with custodian banks, and one qualified managing director genuinely working in Vaduz.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Liechtenstein in brief
The only place that is both Alpine and inside the EEA.
Liechtenstein licenses asset management companies under the Vermögensverwaltungsgesetz, and the design is deliberately manager-shaped: initial capital of CHF 100,000, permission to run discretionary portfolios, give investment advice, receive and transmit orders and execute them - while client assets stay with custodian banks rather than the firm. Ancillary research, financial analysis and M&A advisory sit inside the licence. Governance is where the principality is exacting: at least one managing director with EEA or Swiss citizenship, three years of relevant full-time experience, appropriate qualifications and a genuine working presence in Liechtenstein, and no individual may run more than two asset management companies at once.
The commercial case is a combination nobody else offers: Alpine private-banking culture, the Swiss franc, a AAA-rated state and a customs union with Switzerland - inside the European Economic Area, so the licence passports into thirty markets under freedom of establishment and freedom to provide services by simple notification between authorities. A Swiss manager cannot passport; a Liechtenstein one can, from twenty minutes down the valley. For wealth managers serving both Swiss and EU clients, family offices institutionalising and boutiques that want the Alpine address with union access attached, Vaduz is the structural answer. We build the file end to end.
Alpine and inside the EEA: FMA asset management company under the VVG - CHF 100,000 initial capital, portfolio management, advice, RTO and execution, custody left with banks; one qualified managing director resident in the principality, capped at two companies.
12.5% flat tax with an equity deduction, no dividend withholding, Swiss VAT system, and a full EEA passport Switzerland cannot offer. Built end to end from Vaduz.
The two builds
The asset management company - or the investment firm.
Two doors at the FMA: the VVG asset management company for manager-shaped models, the MiFID investment firm where dealing or client assets enter. We fix the perimeter first.
The CHF 100k asset management company - or the investment firm.
01 - ASSET MANAGEMENT COMPANY
The manager's licence
Portfolio management, advice, reception-transmission and execution at CHF 100,000 initial capital. Assets held at custodian banks, the boutique's route to an EEA passport from an Alpine address.
Portfolio management, advice, reception-transmission and execution at CHF 100,000 initial capital. Assets held at custodian banks, the boutique's route to an EEA passport from an Alpine address.
- ✓Discretionary portfolio management
- ✓Investment advice
- ✓Reception, transmission, execution
- ✓CHF 100,000 initial capital
- ✓Custody stays with banks
- ✓Research and M&A advisory included
02 - INVESTMENT FIRM
The wider licence
The MiFID-scoped investment firm supervised by the FMA where the model deals, underwrites or touches client assets. The heavier frame for businesses the VVG perimeter does not cover.
The wider FMA-supervised investment firm where dealing, underwriting or client assets enter. Heavier frame, same EEA passport, upgrade path built in.
- ✓Dealing and underwriting scope
- ✓Client-asset permissions
- ✓MiFID-derived requirements
- ✓Capital per the wider regime
- ✓Same EEA passport
- ✓Upgrade path from the AMC
Capital and services per the Asset Management Act as of 2026. Investment-firm capital and permissions are scoped against the FMA's regime at filing.
Why Liechtenstein
Six reasons managers choose Vaduz.
✓
Alpine, and in the EEA
Swiss franc, Swiss customs union, Alpine banking culture. With the EU passport a Swiss licence can never give you.The pair nobody else has.
✓
CHF 100,000 entry
The lowest credible capital in Western Europe for a passported manager. Pricing that lets a boutique start properly.Lowest credible in the west.
✓
Custody stays with banks
The firm manages, custodian banks hold. A structure allocators trust and a compliance load the boutique can carry.Proportionate compliance.
✓
AAA-rated state
A debt-free principality with a top sovereign rating. The counterparty question answers itself.Counterparty question closed.
✓
Serious governance
A resident managing director with three years' experience, limited to two companies. Scarcity that keeps the licence meaningful.Resident, capped at two.
✓
Passport by notification
Freedom of establishment and services across the EEA through authority-to-authority notification. Thirty markets, minimal bureaucracy.30 states, little friction.
How it compares
How Liechtenstein differs from other routes.
The comparison, side by side: the Alpine address that passports. At the cost of a genuinely resident bench.
Liechtenstein vs other jurisdictions
| Feature |  Liechtenstein | Other jurisdictions |
|---|---|---|
| Regime | VVG - FMA | MiFID or FinIA |
| Capital | CHF 100,000 | €75k-€750k EU tiers |
| Passport | Full EEA | EEA, or none (Swiss) |
| Governance | Resident MD, max 2 firms | Two managers or SO |
Regime
LiechtensteinVVG - FMA
Other jurisdictionsMiFID or FinIA
Capital
LiechtensteinCHF 100,000
Other jurisdictions€75k-€750k EU tiers
Passport
LiechtensteinFull EEA
Other jurisdictionsEEA, or none (Swiss)
Governance
LiechtensteinResident MD, max 2 firms
Other jurisdictionsTwo managers or SO
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Liechtenstein | AMC - FMA (VVG) | 12.5% corporate | CHF 100k, resident MD |
 Switzerland | Portfolio manager - FINMA·SO | ≈12% in Zug | CHF 100k + SO affiliation |
 Luxembourg | Investment firm - CSSF | ≈23.9% aggregate | €75k-€750k, four eyes |
 Cyprus | CIF - CySEC | 12.5% · 15% large | IFD tiers, EU passport |
LiechtensteinLicense typeAMC - FMA (VVG)
Taxation12.5% corporate
RequirementsCHF 100k, resident MD
SwitzerlandLicense typePortfolio manager - FINMA·SO
Taxation≈12% in Zug
RequirementsCHF 100k + SO affiliation
LuxembourgLicense typeInvestment firm - CSSF
Taxation≈23.9% aggregate
Requirements€75k-€750k, four eyes
CyprusLicense typeCIF - CySEC
Taxation12.5% · 15% large
RequirementsIFD tiers, EU passport
Before you apply
Requirements for the Liechtenstein licence.Requirements for the licence.
The FMA examines the bench as closely as the balance sheet. The checklist below is what a passing file contains.
01
Liechtenstein company. Incorporated for the licence with real premises in the principality.
02
Initial capital - CHF 100,000, fully paid and evidenced with source of funds.
03
Qualified managing director. EEA or Swiss citizenship, three years' relevant full-time experience, appropriate qualifications.
04
Genuine working presence. The managing director actually works at the Liechtenstein office, with the time commitment to prove it.
05
The two-company limit - no managing director may run more than two asset management companies at once.
06
Fit-and-proper shareholders. Qualifying holdings vetted to ultimate-owner level.
07
Business plan. Services, client base and three-year projections the FMA can interrogate.
08
Custodian arrangements. Client assets placed with custodian banks, documented.
09
Organisation and compliance. Risk, compliance and internal control proportionate to the model.
10
AML/CFT programme. Liechtenstein's framework with a named responsible officer.
11
Passporting plan. EEA notifications prepared for the markets actually being served.
01
Liechtenstein company, premises.
02
CHF 100,000 paid, sourced.
03
MD: EEA/Swiss, 3 years.
04
MD genuinely works there.
05
Max two companies per MD.
06
Holdings vetted to UBO.
07
Interrogable business plan.
08
Custodian banks documented.
09
Risk and compliance sized.
10
AML officer named.
11
EEA notifications planned.
Reflects the Asset Management Act and FMA practice as of 2026. Fees and processing times are confirmed against the Authority's current schedule at filing.Asset Management Act + FMA practice, 2026.
How it works
From first call to the FMA register.
01
Perimeter
AMC or investment firm, services and capital fixed against the actual business.Model decides.
02
The bench
The qualified managing director secured. Citizenship, experience and residence evidenced before anything else.MD evidenced.
03
Company and capital
Liechtenstein entity, CHF 100,000 paid, premises and organisation in place.CHF 100k paid.
04
The application
The FMA file with plan, organisation and custodian arrangements. Complete at submission.Complete at filing.
05
Licence and passporting
Register entry, custodian banking live, EEA notifications filed. The Alpine manager selling into the union.Thirty markets.
Quick facts
RegulatorFMA Liechtenstein
FrameworkAsset Management Act
Initial capitalCHF 100,000
ServicesPM · advice · RTO · execution
CustodyCustodian banks
Managing director3 years, resident
Company limitMax 2 per director
PassportEEA by notification
The managing director is the bottleneck: qualified, resident and free of a second mandate. We start that search on day one, not after the file is drafted.
On the ground in Liechtenstein
Run from our Vaduz office.
Prifinance - Liechtenstein
Vaduz · Liechtenstein
Vaduz, Liechtenstein
01
Perimeter and structure
AMC or investment firm decided against the real model. Capital and permissions sized in the same conversation.Sized in one talk.
02
The managing director
A qualified resident MD sourced and evidenced. The scarcest input in any Liechtenstein file, secured first.Secured first.
03
The FMA application
Business plan, organisation and capital evidence. Complete at submission, defended through questions.Complete at filing.
04
Custody and passporting
Custodian bank relationships and EEA notifications sequenced with the licence. Thirty markets from the valley.Sequenced with grant.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of investment firms in Liechtenstein.
A flat 12.5% inside the EEA. Alpine rates with union access attached.
12.5% corporate tax
The flat rate on profits. Among Western Europe's lowest, and inside an EEA member state.Western Europe's low end.
Notional interest deduction
An equity-based deduction lowers the effective rate for well-capitalised firms. Planned into the capital structure.Rewards capitalisation.
No capital gains tax on holdings
Qualifying participation gains sit outside the charge. The holding layer above the manager stays clean.Rare in Europe.
No withholding on dividends
Distributions leave without local withholding. A rarity for a European jurisdiction.Participation gains out.
Swiss franc and customs union
The franc as operating currency with Swiss customs integration. Alpine stability, EEA market rights.Swiss integration.
VAT aligned with Switzerland
Liechtenstein applies the Swiss VAT system at Swiss rates, with the finance exemption on core services.Exempt finance core.
Tax summary
Corporate tax12.5% flat
Equity deductionNotional interest
Dividend withholdingNone
VATSwiss system · exempt core
Market accessEEA passport
*Figures as of 2026 per the Liechtenstein tax administration. Group and holder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Liechtenstein company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed manager.
Follow Prifinance
Active across our channels.
Liechtenstein · FMA
Launch your investment firm in Liechtenstein with expert support.
Full-service assistance - from the managing-director search to FMA authorisation, custody and EEA passporting - run through our Vaduz office.
Get a consultation →Free legal opinion
Is Liechtenstein the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Liechtenstein investment licence - what clients ask.
What licence does an asset manager need in Liechtenstein?+
An asset management company licence from the FMA under the Asset Management Act (VVG) - covering discretionary portfolio management, investment advice, reception and transmission of orders and execution, plus ancillary research and M&A advisory.
What capital is required?+
CHF 100,000 initial capital for the asset management company - the lowest credible requirement in Western Europe for a firm with a full EEA passport.
Does the firm hold client assets?+
No - asset management companies do not provide custody. Client assets sit with custodian banks while the firm manages them, which keeps both the risk profile and the compliance load proportionate.
What does the FMA require of management?+
At least one managing director with EEA or Swiss citizenship, three years of relevant full-time experience, appropriate education and good repute - genuinely working at the Liechtenstein office, and running no more than two asset management companies at once.
Does the licence passport into the EU?+
Yes. Liechtenstein is in the EEA, so the licence carries freedom of establishment and freedom to provide services across thirty states through notification between authorities - the passport a Swiss licence cannot give.
Liechtenstein or Switzerland?+
The same CHF 100,000 order of capital, the same Alpine credibility, but Liechtenstein passports into the EEA and Switzerland does not. If any meaningful part of your client base is in the union, the valley wins.
How are Liechtenstein firms taxed?+
12.5% flat corporate tax with a notional interest deduction on equity, no withholding on dividends, and the Swiss VAT system with the finance exemption on core services.
What substance is expected?+
Real premises in the principality and a managing director who actually works there. The FMA verifies presence rather than assuming it, which is precisely why the licence is respected.
How long does licensing take?+
Realistically 6-12 months including preparation, with the managing-director search usually setting the pace rather than the FMA.
Why Prifinance for Liechtenstein?+
The managing-director search started on day one, the perimeter sized before the file is drafted, and custody plus passporting sequenced with the licence - from our Vaduz office.
What licence?+
FMA AMC under the VVG.
Capital?+
CHF 100,000.
Custody?+
Banks hold, firm manages.
Management?+
Resident MD, 3 years.
EU passport?+
Yes - EEA member.
Or Switzerland?+
Passport decides.
Taxes?+
12.5% flat, no WHT.
Substance?+
Real presence verified.
How long?+
6-12 months realistic.
Why you?+
MD search from day one.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
Start today
One message away from your Liechtenstein investment licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Liechtenstein route fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of FMA Liechtenstein or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.