Regulation Liechtenstein
VwbP: the register of beneficial owners in Liechtenstein
Updated: · Leutrim Miftaraj, FLIORE · Editorial standards · Other languages: Deutsch · Français · Español
Short answer
Liechtenstein legal entities – including foundations, establishments (Anstalten), companies and trusts – must have their beneficial owners entered in the register of beneficial owners (VwbP) kept by the Office of Justice. The basis is the VwbP Act (VwbPG). Reporting is usually done through the officers or the trustee; changes must be updated within the deadline. Authorities, obliged entities and persons with a legitimate interest have access.
Who must be registered
- Legal entities with their seat in Liechtenstein, such as foundations, establishments and companies limited by shares.
- Trusts (Treuhänderschaften) where a trustee is active in Liechtenstein.
- Other legal entities under the provisions of the VwbPG.
Who counts as a beneficial owner
For companies, these are the natural persons who ultimately hold or control more than 25 per cent, alternatively senior management. For foundations and trusts, the founder or settlor, members of the foundation board or trustees, protectors, beneficiaries or classes of beneficiaries and other persons with control count as beneficial owners. The information must match what the trustee collects under the Due Diligence Act (SPG).
Reporting and updating
- Determine the beneficial owners under the VwbPG and collect the documents.
- Report through the obliged persons, usually via the trustee acting as an officer.
- Update changes within the statutory deadline, for example after deaths, new beneficiaries or changes of officers.
- Review and resolve discrepancy reports from obliged entities and authorities.
- File registration confirmations in the documentation of the structure.
Access
Authorities and obliged entities have access to the register. After the judgment of the Court of Justice of the European Union of 22 November 2022, which held unrestricted public access to such registers to be incompatible with fundamental rights, the EEA states restricted public access. Persons and organisations with a legitimate interest can apply for access; the scope follows the VwbPG.
Discrepancies
If obliged entities find that their own findings differ from the entries, they report this to the Office of Justice. For the structure, that means follow-up questions and effort. Keeping data centrally and consistently, and passing changes on to all parties at once, avoids such reports.
In FLIORE
FLIORE determines who counts as a beneficial owner under each legal system and records roles, identity documents and residences per person. Registration confirmations and filings are stored with versions in the document vault.
At a glance
| Register | Register of beneficial owners (VwbP), Office of Justice |
|---|---|
| Basis | VwbP Act (VwbPG) |
| Access | Authorities, obliged entities, persons with a legitimate interest |
Terms on this page
- Beneficial owner
- The natural person who ultimately owns or controls a company, foundation or trust, or on whose behalf a transaction is carried out.
- Discrepancy report (Germany)
- Duty of obliged entities under the German Anti-Money Laundering Act to report discrepancies between their own findings and the transparency register (section 23a GwG).
- Protector
- A person or body that supervises the trustee of a trust or the board of a foundation and holds certain consent rights.
Frequently asked questions
Must a Liechtenstein foundation report its beneficiaries?
Yes. Beneficiaries or classes of beneficiaries are among the beneficial owners of a foundation and are recorded in the VwbP.
Can the public inspect the VwbP?
Not without restriction. Since the CJEU judgment of 22 November 2022, public access has been limited; access is granted in particular to authorities, obliged entities and persons with a legitimate interest.
Who is responsible for reporting?
The officers of the legal entity or the trustee. In practice, the Liechtenstein trustee usually takes care of the filing.
What happens if a report is not made?
The VwbPG provides for sanctions. In addition, banks and trustees cannot conduct the business relationship properly as long as the entry is missing or diverges.
How do the VwbP and the Due Diligence Act relate?
The VwbP records the beneficial owners centrally; the Due Diligence Act obliges trustees and banks to establish these persons themselves. If the two diverge, a discrepancy report follows – which is why the information must match.
Sources
- Liechtenstein law gazette – gesetze.li
- National Administration of Liechtenstein – Office of Justice, VwbP
- Court of Justice of the European Union – judgment of 22 November 2022, C-37/20 and C-601/20
This page provides orientation and does not replace legal or tax advice. The cited legal sources in their applicable version are authoritative.
Read more
More on Regulation & data protection
FLIORE in your family office
See structures, compliance and consolidated wealth with your own questions – in a personal demo.