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BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • LIECHTENSTEIN

    Inhabitants - 36,713 (July 2011)

    Language - German (official), Alemannic dialect

    Currency - Swiss franc (CHF), floating, exchange rate ~ 0.24 EUR

    Religion - Roman Catholic (official) 76.2%, Protestant 7%, unknown 10.6%, other 6.2% (June 2002)

    Politics - Liechtenstein is a principality governed under a constitutional monarchy. It has a form of a mixed constitution in which political power is shared by the monarch and a democratically elected parliament. There is a multi-party system and a form of representative democracy in which the Prime Minister and head of government are responsible to Parliament. However, the Prince of Liechtenstein is head of state and exercises considerable political powers. Executive power is exercised by the government. Legislative power is vested in both the government and the Diet. The party system is dominated by the conservative Progressive Citizens' Party and the conservative Fatherland Union. The judiciary is independent of the executive and the legislature. 

  • Major industries - electronics, metal manufacturing, dental products, ceramics, pharmaceuticals, food products, precision instruments, tourism, optical instruments.

    Banks (2010)  - 16 banks; 0 branches; 1959 employees; assets – EUR 96,96 billion; loans – EUR 13,86 billion; deposits – EUR 26,43 billion.

    Banking regulations - Liechtenstein's banks operate in an environment which is characterised by high political and social stability, and by international standards and an EU-compatible legal structure. Bank supervision, as part of overall financial market supervision, satisfies internationally accepted principles, as the International Monetary Fund confirmed in its final report on the assessment of financial sector supervision and regulation in March 2008. The supervisory function is conducted by Financial Market Authority (FMA). The FMA is an independent, integrated financial market supervisory authority operating as an autonomous institution under public law. The FMA is responsible for the supervision and execution of the special legislation as well as for regulation and the representation of the interests of Liechtenstein at international bodies (in co-ordination with the government). According to the Banking Act (1992) the minimum paid in capital to set up a bank is CHF 10 million or EUR 8,3 million.