"Public registers for foundations and trusts - also in Liechtenstein?"

The discussion on the introduction of public registers for beneficial owners of companies, foundations and trusts is aimed at combating money laundering. The European Parliament will decide on this in March. This would represent a paradigm shift for Liechtenstein. Financial intermediaries are already burdened with numerous regulations. The new EU Money Laundering Directive, which provides for stricter sanctions, is now also planning public registers for beneficial owners, including founders and trustors. Germany rejects this as it sees the due diligence obligations of financial intermediaries at risk. France, Italy, the UK and Spain are in favor of the registers. However, data protection and the timeliness of the data are problematic. The final legislative text is expected in the second half of the year. Liechtenstein would also have to adapt, which would mean a significant change. Data protection remains of central importance.

Topics in the publication

• Introduction of public registers
• Combating money laundering
• Effects on Liechtenstein
• Financial intermediaries and their challenges
• Resistance and support
• Data protection and technical challenges
• Timetable and implementation
• Financial center and trust system