Legal market overview in Liechtenstein
The Principality of Liechtenstein is a small, landlocked country with a mature legal market and a business friendly and agile regulatory environment. Liechtenstein is best known as an established hub for financial services, similar to its close neighbour and trading partner Switzerland, with which it maintains a customs union. Like Switzerland, Liechtenstein is not a part of the EU. However, it is a member of the European Economic Area, which marks it as a significant gateway into Europe for international investors. In line with its strong focus on banking, the country is currently positioning itself as a key jurisdiction for fintech. Towards the end of 2019, parliament finally approved a new Tokens and TT Service Providers Law, which came into force in January 2020. The legislation establishes a new framework for the regulation of blockchain tokens in Liechtenstein and provides greater legal certainty around the development of the ‘token economy’.