The Principality of Liechtenstein is home to a specialised and stable financial centre with strong international connections. It is supervised by a strong monitoring authority. Financial services form the second-largest economic sector in Liechtenstein after industry.
Banks are the main player in the financial services sector, but Liechtenstein is also an attractive location for insurance companies, asset management firms, funds and trusts. In total around 5000 people are employed in the financial services sector, which corresponds to 16% of the country's workforce.
As a member of the European Economic Area (EEA), Liechtenstein applies the same legal provisions to financial market participants as other EU countries. An important measure to support the country's competitiveness and attractiveness as a business location is the timely imlpementations of EU Directives in line with market conditions.
The Financial Market Authority Liechtenstein (FMA) is internationally recognised and represented in all European financial market supervision authorities as well as important global organisations. The financial services sector in Liechtenstein is characterised by high standards and an effective system for combatting money laundering and the financing of terrorism. The Principality also applies global standards developed by the OECD on transparency and exhange of information on tax-related issues.