CORPORATE AND FOUNDATION GOVERNANCE
FS+P specialises in the professional provision of services in the field of corporate governance and foundation governance.
We support our clients in the rigorous and diligent observance of the duties and obligations arising from statutory law and case law. In cooperation with our clients, FS+P also works to improve the systematic approach taken by boards of directors and foundation councils in their daily work, thus making an effective contribution to liability prevention.
Our clients include private individuals, families, and companies. Our range of services is specified in more detail below.
CORPORATE AND FOUNDATION GOVERNANCE SERVICES
Our range of services includes assuming management mandates and administering them independently in the following capacities:
- Board of directors
- Foundation council
- Trustee or co-trustee
- Advisory board or protector
- Member of committees such as audit, remuneration, risk, or nomination committees
- Secretary to the board of directors, including proper minutes-taking and other administrative support for the board of directors
In addition, FS+P's services include analysing governance systems with a view to improving areas in need of development or associated with high risks, for the purpose of increasing quality and reliability.
You can read more about the legal responsibility of boards of directors and foundation councils in Liechtenstein in our.
«Functioning, dynamic, and competent boards of directors increase the probability – and may even be a necessary prerequisite – for the sustainable and successful further development of companies in the age of regulation, globalisation, and digitalisation. It is a key concern of FS+P to make an important contribution to this with the services it offers.»
The tasks and responsibilities of the board of directors are varied and sometimes performed on a repeated basis. Other tasks and responsibilities of the board of directors depend on the individual case. The Liechtenstein Law on Persons and Companies includes the following responsibilities of the board of directors:
- to prepare the business of the general meeting and to carry out its resolutions
- to draw up the rules required for orderly business operations and to give the general management the instructions necessary for this purpose
- to supervise the persons entrusted with general management and representation in regard to correct implementation in accordance with the law, the articles of association, and the regulations
- to keep itself regularly informed about the course of business and the management for this purpose
- to ensure that the minutes of the general meeting and the administration, as well as the necessary account books, are properly kept and that the business report and consolidated business report are prepared, audited, and published where applicable in accordance with the legal provisions.
Theserves as non-binding, exemplary guidance for FS+P's work on boards of directors.
A comparison of the rights and duties of a board of directors under Liechtenstein, Swiss, and foreign commercial law makes clear that the normative bases differ considerably. By specialising in the international performance of directorships, FS+P is better able to meet the challenges associated with these differences.
CORPORATE GOVERNANCE FOR PUBLIC ENTERPRISES
Unlike Switzerland and other countries, Liechtenstein has specific legislation on corporate governance for public enterprises (ÖUSG). Under these rules, the Liechtenstein Government is entrusted with the ultimate supervision of public enterprises. Supplementing the framework law and in order to adjust the specialised legislation, the Government has issued afor Liechtenstein.
As distinguished from corporate governance, FS+P considers foundation governance to mean the entirety of the principles relating to the interests of the founder, the beneficiaries, and other stakeholders. With its Foundation Act, Liechtenstein provides an internationally attractive framework for the formation and management of foundations.