The Vereinigung liechtensteinischer gemeinnütziger Stiftungen (VLGS) will be opening its doors to not-for-profit trusts as of now. This was agreed at the general assembly in June. Moreover, the association welcomed on board its first segmented legal entity as a member.

The general assembly voted unanimously in favor of the motion to accept not-for-profit trusts as members now as well, as the association explained in its June newsletter. Moreover, it was agreed that the association of not-for-profit foundations would be renamed as Vereinigung liechtensteinischer gemeinnütziger Stiftungen und Trusts e.V. (VLGST). The expansion of the membership group to include not-for-profit trusts represents an “important USP” for the “location of Liechtenstein”, according to the newsletter. The VLGST also states that Liechtenstein is the only country in continental Europe “to have adopted the Anglo-American trust model”.

In its June newsletter, the VLGST furthermore communicated that it has welcomed First Charity Foundation PCC as its first member operating in the legal form of a Protected Cell Company (PCC). Also known as a segmented legal entity, the PCC “is a new organizational form, facilitating the division of companies into different segments”, the VLGST explains. In the not-for-profit sector, this legal form is of interest particularly in terms of risk management processes.

On October 1, the VLGST will host what is already the third instalment of its annual project platform. Prince Maximilian of Liechtenstein will hold the event’s keynote speech at Technopark Vaduz. Furthermore, the program includes speeches from five member institutes of the VLGST.

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