On September 29th in Liechtenstein respectively on October 11th in London the long-expected Second Joint Declaration Concerning the Memorandum of Understanding Relating to Taxes between Liechtenstein and HMRC has been signed.

In the past 70 years Liechtenstein’s tax policy was clear. There would never be a data exchange on taxation matters.

Politically exposed persons represent a risk factor for any financial intermediary. They may be considered as more affected by corruption topics. Wrongdoings cause higher reputational damage due to media interest.

The small principality of Liechtenstein will get a completely new tax law from January 1 st, 2011 on. After dealing with more or less the same tax provisions for the last 60 years this is something striking.

The term: "Family Office" is becoming harder to define these day’s. Originally, we had the "Single Family Office", now with many opting to merge with other Ultra-Rich Families, commonly called "Multiple Family Offices" which again becomes further confusing with "Top-End" wealth management companies turning themselves into Multiple-Family Offices.

Over the last 20 years foundation law has been developed mainly by court decisions. On April 1, 2009 however a new Liechtenstein foundation law has been implemented.

In Liechtenstein law and especially in the social system, arbitration has achieved a position of considerable significance.