Banks in Liechtenstein: Licensing, Deposit Cover and Secrecy
The FMA list showed 11 banks in Liechtenstein at 31 December 2024. The FMA licenses and supervises them. Deposits are covered up to CHF 100,000 per depositor per member bank, a figure in Swiss francs. Bank secrecy is unlimited in time (Banking Act Art. 12(1)), and automatic exchange of account data runs beside it.
Short answer
LFF Heritage Trusts (LFT) prepares and coordinates. The licensed Liechtenstein trustee named in the engagement letter performs the acts the law reserves to the trustee.
Liechtenstein has one banking supervisor, one Banking Act and one statutory deposit guarantee scheme. This page covers the count of banks, the licence, deposit cover in Swiss francs, bank secrecy and what a bank asks of a new corporate client. It ranks no bank and opens no account. A company set up through the formation of an operating or holding company in Vaduz needs its capital paid in at a bank, which issues a certificate for the register filing. LFT prepares and coordinates that file, and a licensed Liechtenstein trustee files it (TrHG Art. 2(a)).
How many banks are there in Liechtenstein?
The Financial Market Authority (Finanzmarktaufsicht, FMA) lists 11 banks at 31 December 2024. The figure carries its date because the sector changes: the FMA list shows 13 banks in 2020, 12 in 2021 and 2022, and 11 in 2023.
Banks on the FMA list
2024 value at 31 December 2024. Source: FMA list of market participants.
The FMA count at 31 December 2024
The count falls by two between 2020 and 2024. This page takes the count from the FMA and the names from the Bankers Association in the next section. A later FMA list supersedes the figure here. The fall from 13 to 11 is a fact of the list, and the sources used here give no reason for it, so this page offers none.
What the count leaves out
The same FMA list shows 3 e-money institutions and 1 payment institution. They are not banks and are not part of the 11. A reader who finds a higher or lower number on a provider page should check its date and what it counts. The FMA figure counts banks only, and it is a figure on a single date.
The Bankers Association page in the next section names twelve banks, one more than the FMA count. The two sources carry different dates, so the numbers need not match, and this page does not reconcile them.
Which banks does the Bankers Association list?
The Liechtenstein Bankers Association (Bankenverband) names twelve member banks on its member page. The table gives the names with the date from which each licence is held, as printed there on the day the page was accessed, 31 October 2026. The association lists these names; the FMA does not publish them in the count above.
The twelve names and their licence dates
Member banks named by the Bankers Association, with the licence date as printed.
| Bank | Licence held since (as printed) | Note on the association page |
|---|---|---|
| Bank Frick | 10.11.1998 | None |
| Banking Circle (Liechtenstein) | 31.07.2024 | None |
| Banque Havilland (Liechtenstein) | 14.07.1998 | Marked as in voluntary liquidation |
| BENDURA BANK | 14.07.1998 | None |
| Celsion Bank | 18.02.2026 | None |
| EFG Bank von Ernst | 01.12.1998 | None |
| Kaiser Partner Privatbank | 26.05.1999 | None |
| LGT Bank | 24.11.1920 | None |
| Liechtensteinische Landesbank | 05.12.1861 | None |
| Neue Bank | 15.10.1991 | None |
| SIGMA Bank | 11.11.1997 | None |
| VP Bank | 04.04.1956 | None |
Source: Bankers Association, member banks page, accessed 31 October 2026. An association page, not a register.
What an association page cannot tell you
The member page is not a register, and it can lag. It shows a licence dated 18.02.2026 and marks one bank as in voluntary liquidation, with no date and no detail. It says nothing about what that means for depositors, and this page does not either. Anyone who needs the current position of a named bank reads the FMA list of the latest date and the bank's own notices.
Who supervises the banks, and what does a licence require?
The FMA and the purpose of the act
The FMA licenses and supervises the banks. The Banking Act (Bankengesetz, LGBl. 2025 Nr. 085) aims to protect the creditors and investors of banks and the stability of the financial system (Art. 1(2)).
Licence, capital and no market-need test
A bank needs an FMA licence before it starts business (Art. 16(1)). Initial capital is at least EUR 10 million or the equivalent in Swiss francs or US dollars (Art. 18(1)). In justified cases the FMA may prescribe a different amount for the kind and scale of the business, and for a bank never below EUR 5 million or the equivalent (Art. 18(3)). The FMA may not refuse an application on the ground of the economic needs of the market (Art. 25(8)).
The ban on shell banks
Operating a shell bank (Sitzbank) is banned (Art. 10). The ban sits beside the duty of every bank to keep no correspondent relationship with a shell bank, which appears in the Due Diligence Act below.
The capital figure is a condition of the licence. It tells a reader what the law asks of an applicant and nothing about the size or the current holdings of any bank on the list. A licence also does not rank a bank. The association page prints a licence date for each of the twelve names in the table above, and it is not a register.
Are deposits protected, and in which currency?
Membership of a scheme is a condition of the licence
A bank that takes deposits must belong to a guarantee scheme (Banking Act Art. 11; EAG Art. 6(1)). A bank that belongs to none loses its licence, because the FMA must withdraw it (EAG Art. 6(3)). The Deposit Guarantee and Investor Compensation Foundation (Einlagensicherungs- und Anlegerentschädigungs-Stiftung SV, EAS) is the statutory scheme (EAG Art. 4(1)).
CHF 100,000 per depositor per member bank
The Deposit Guarantee Act (Einlagensicherungs- und Anlegerentschädigungsgesetz, EAG, LGBl. 2019 Nr. 103) states the cover in Swiss francs: refundable deposits up to CHF 100,000, or the equivalent in another currency, per depositor at a member bank (Art. 2(1)(13)). The cover is per depositor and per bank, so a depositor with deposits at two member banks has a cover at each. The act states no euro figure. A reader who wants the amount in euro has to convert it at the rate of the day, and this page gives no conversion and no rate.
Deposit cover at two member banks
Depositor
cover applies per depositor and per member bank
Member bank A
CHF 100,000 cover
Member bank B
CHF 100,000 cover
EAS, the statutory scheme
payout within seven working days
Certain deposits: CHF 100,000 to CHF 750,000 for a limited time; conditions apply.
The higher temporary band
Refundable deposits above CHF 100,000 up to CHF 750,000 count as covered deposits under Art. 9, but only if two conditions are met. First, the deposits come from real estate transactions relating to privately used residential property; or they serve a statutory social purpose tied to a life event of the depositor, such as marriage, divorce, retirement, termination, dismissal, invalidity or death; or they rest on the payout of insurance benefits or compensation payments for bodily injury resulting from crimes or for wrongful criminal conviction (Art. 9, point (a)). Second, the payout event occurs within six months after the amount is credited or after the date from which the deposits can lawfully be transferred (Art. 9, point (b)). A reader who relies on that band reads Art. 9 of the act itself, linked under Sources, before relying on it.
Licence and deposit cover at a glance.
| Topic | Rule | Article |
|---|---|---|
| Licence duty | FMA licence before business starts | Banking Act Art. 16(1) |
| Market need | No market-need test | Banking Act Art. 25(8) |
| Initial capital | At least EUR 10 million or the equivalent in CHF or USD | Banking Act Art. 18(1), (3) |
| Shell banks | Banned | Banking Act Art. 10 |
| Scheme membership | Required for a deposit-taking bank | Banking Act Art. 11; EAG Art. 6(1) |
| Cover | CHF 100,000 per depositor per member bank | EAG Art. 2(1)(13) |
| Payout | Within seven working days after a payout event | EAG Art. 12(1) |
| Bank secrecy | Unlimited in time | Banking Act Art. 12(1) |
Source: Banking Act (LGBl. 2025 Nr. 085) and EAG (LGBl. 2019 Nr. 103).
How fast does the deposit guarantee pay out?
Seven working days after a payout event
The scheme pays within seven working days after a payout event (Sicherungsfall, EAG Art. 12(1)). The seven working days start with the payout event. This page says nothing about how long a bank failure takes to unfold. The seven working days are a deadline for the payment, counted from the event, and they are not a promise about the days before it.
When the scheme may postpone, and when the band needs an application
The scheme may postpone the refund in the cases listed in Art. 13(2). This page does not list those cases. The band above CHF 100,000 under Art. 9 is paid only on application by the depositor (Art. 12(4)).
The account the depositor names
The transfer goes to an account that the depositor has given the scheme, except in a hardship case (Art. 12(1)). A depositor who wants a prompt refund therefore keeps an account on record that the scheme can pay into, and keeps the contact details at the bank current.
Which deposits fall outside the guarantee?
Deposits of banks, insurers and public bodies
Art. 8(1) lists deposits that are excluded from the refund. They include deposits that banks made in their own name and for their own account (point (a)), deposits of insurance undertakings (point (l)) and deposits of states, governments and regional or local authorities (point (p)). This page does not list every other point of Art. 8(1). The list is long. It also excludes deposits of financial institutions, asset management companies, funds and fund managers, pension funds, occupational pension institutions and securities firms (points (c) to (k) and (m) to (o)).
The holder who was never identified
A deposit whose holder was never identified under Art. 7(1) of the Due Diligence Act (SPG) is excluded from the refund where it is no longer available (EAG Art. 8(1)(s)). Deposit cover is therefore tied to the identification steps a bank performs, which are set out below under the question on what a bank asks of a new corporate client.
A family structure holds its assets with licensed banks and asset managers. See how it is set up and kept in order on the family office page.
Is bank secrecy still in force?
Unlimited in time
The duty of bank secrecy is unlimited in time (Banking Act Art. 12(1)). The duty has listed exceptions, and automatic exchange of account data, covered in the next section, runs beside it. Read as a whole, the act sets a long duty of confidence with defined exits. It is a rule with exceptions, and a reader should take it as one.
The reservations
The legal duties to testify and to inform courts, criminal authorities, the FMA, recognised auditors and the FIU (Stabsstelle FIU, the financial intelligence unit) are reserved (Art. 12(2)(a)). Points (b) to (d) also reserve cooperation with the FIU and other supervisors, the disclosure of information on depositors to the deposit guarantee scheme, and the disclosure of the identity of shareholders under the Persons and Companies Act. The reservations are the reason a bank may answer a court, a criminal authority or the FMA without breaching its duty of secrecy.
What does automatic exchange add, and is Liechtenstein a tax haven?
The AIA Act and its start date
The AIA Act (LGBl. 2015 Nr. 355) implements the automatic exchange of financial account information in tax matters with partner states on the OECD common reporting standard (Art. 1(1)). It entered into force on 1 January 2016 (Art. 38).
Transmission, and the cases where the Tax Administration need not pass data on
The Tax Administration passes the data on in an automated procedure within the deadlines of the applicable agreement (Art. 14(1)). It is not obliged to pass information on where transmission would conflict with Liechtenstein public policy (ordre public, Art. 14(2)), or where the foreign authority cannot supply comparable information on Liechtenstein reportable accounts (Art. 14(3)).
Bank secrecy beside automatic exchange.
| Aspect | Bank secrecy | Automatic exchange |
|---|---|---|
| Duration or start | Unlimited in time (Banking Act Art. 12(1)) | In force since 1 January 2016 (AIA Act Art. 38) |
| Nature | Duty of the bank, with listed reservations | Exchange of financial account information in tax matters with partner states (Art. 1(1)) |
| Limits | Reservations in Art. 12(2) | Cases without an obligation to transmit (Art. 14(2), (3)) |
| Who passes data | The bank, to the bodies named in Art. 12(2)(a) | The Tax Administration, in an automated procedure (Art. 14(1)) |
Source: Banking Act Art. 12; AIA Act Art. 1, 14 and 38.
The tax haven question in two sentences
The statutes show two facts: bank secrecy is unlimited in time, and automatic exchange runs beside it. Whether those facts earn a label is a matter of definition, which the tax haven question page discusses in full.
What does a bank ask of a new corporate client?
The Due Diligence Act sets the frame. The bank decides on the relationship, and the steps below are the statutory ones. Anything a bank asks for beyond them is the bank's own policy, and this page does not describe it as law.
- The bank is a due diligence entity: the Due Diligence Act names banks with a licence under the Banking Act among the entities it binds (SPG Art. 3(1)(a)).
- The bank identifies the contracting party and checks the identity by documents with evidentiary value (Art. 6(1)).
- The bank identifies the beneficial owner and checks the identity with risk-based and appropriate measures (Art. 7(1), (2)). For a legal entity that must report its beneficial owners, it obtains a register extract when the relationship starts (Art. 7(3a)); the extract comes from the register of beneficial owners kept in Vaduz, and the UBO register act provides for disclosure of register data to banks (VwbPG Art. 15). As at 6 November 2026, external access to that register resumed on 5 October 2026 on a limited basis after the cyberattack of 30 July 2026.
- The bank builds a business profile that covers the origin of the assets and the purpose and intended nature of the relationship (Art. 8(1)).
- The bank keeps no correspondent relationship with a shell bank (Art. 13(1)).
- For a new AG formed by simultaneous formation, or a new GmbH, the capital is paid in and the bank certificate goes into the register filing (PGR Art. 122(2); HRV Art. 56(1)(c) and 71(1)(c)). The client pays in, the bank issues the certificate and the licensed trustee files.
- LFT explains the sector, collects the client's documents for a formation file and coordinates with the licensed partner. LFT does not open the account, introduce a client to a bank, guarantee an account or choose the bank.
Why does a new AG or GmbH need a bank certificate?
Paid-in capital and the filing
Minimum capital and minimum assets must be fully paid in (PGR Art. 122(2)). The filing for an AG on simultaneous formation needs the bank certificate on the payment (HRV Art. 56(1)(c)). On successive formation, Art. 55(1)(f) asks for the certificate of the payment office named in the subscription invitation. The GmbH filing needs the bank certificate on the payment of the share capital (HRV Art. 71(1)(c), or Art. 71a(b) on the simplified route). Art. 71(1)(c) covers the GmbH only. The filing goes to the public register of Liechtenstein companies.
The bank certificate by company form and route.
| Route | What the filing needs | Article |
|---|---|---|
| AG, simultaneous formation | Bank certificate on the payment | HRV Art. 56(1)(c) |
| AG, successive formation | Certificate of the payment office named in the subscription invitation | HRV Art. 55(1)(f) |
| GmbH | Bank certificate on the payment of the share capital | HRV Art. 71(1)(c) |
| GmbH, simplified route | Bank certificate on the payment of the share capital | HRV Art. 71a(b) |
Source: HRV Art. 55, 56, 71 and 71a; PGR Art. 122(2).
Who does what in the file
The client pays in the capital, the bank issues the certificate and the licensed trustee files (TrHG Art. 2(a)). LFT prepares the file and coordinates with the licensed trustee named in the engagement letter. Where a bank asks for an advance certificate (Vorabbescheinigung) to open the capital-deposit account, that is the bank's practice and not a rule of the register ordinance.
Is there a minimum deposit, and can a non-resident bank in Liechtenstein?
What the sources say and do not say
No statute cited on this page sets a minimum deposit, and no source used here states a bank's own minimum. Figures for a minimum deposit that appear elsewhere have no source in the acts cited here. Do not confuse any such figure with the deposit cover, which is a ceiling on protection per depositor and per bank, not an entry threshold. A bank may set its own entry terms, and those belong to the bank. They are not law, and this page does not state them.
The decision belongs to the bank
Whether a bank takes a client follows from its own due diligence duties (SPG Art. 6 to 8), set out in the steps above. The bank identifies the client, the beneficial owner and the origin of the assets, and it decides. No source used here says how non-resident clients or clients of a given nationality are treated, and this page makes no claim on it. LFT does not open accounts, does not introduce clients to banks and does not guarantee that any bank will accept a client. The bank account opening guide covers the account side.
Where a structure's assets sit
A family structure holds its assets with licensed banks and asset managers. Portfolio management is done by an asset manager or bank licensed by the FMA, never by LFT. The family office page describes how a structure is set up and kept in order. LFT does not open accounts.
From our practice
For a formation file, we prepare the documents the licensed trustee needs and we collect the identity documents and the beneficial-owner details that a bank's due diligence steps rest on. We check that the capital to be paid in matches the company form before the bank certificate is requested, and we check that the beneficial owners named in the file agree with the register entry. We coordinate the dates between you, the bank and the licensed trustee.
We do not choose the bank, we do not predict its decision and we do not file anything ourselves. The bank decides on the relationship, and the licensed trustee files.
Sources
- Banking Act, LGBl. 2025 Nr. 085
- Deposit Guarantee Act (EAG), LGBl. 2019 Nr. 103
- Due Diligence Act (SPG), LGBl. 2009 Nr. 47
- UBO register act (VwbPG), LGBl. 2021 Nr. 33
- AIA Act, LGBl. 2015 Nr. 355
- Commercial Register Ordinance (HRV), LGBl. 2003 Nr. 66
- Persons and Companies Act (PGR), LGBl. 1926 Nr. 4
- Trustee Act (TrHG), LGBl. 2013 Nr. 421
- FMA list of market participants, 31 December 2024
- Office of Justice notice on the UBO register
- Bankers Association, member banks
Frequently asked questions about banks in Liechtenstein
Is Liechtenstein banking secrecy still in force?
Yes. The Banking Act states that the duty of bank secrecy is unlimited in time (Art. 12(1)). It has carve-outs: the duties to testify and to inform courts, criminal authorities, the FMA, recognised auditors and the FIU are reserved (Art. 12(2)(a)). Automatic exchange of account data under a separate act runs beside it.
Is Liechtenstein a tax haven?
The statutes answer part of it. Bank secrecy is unlimited in time, and the AIA Act implements automatic exchange of financial account information with partner states on the OECD common reporting standard, in force since 1 January 2016 (Art. 38). Whether those facts earn a label is a matter of definition, which our tax haven page discusses.
Are my deposits protected in a Liechtenstein bank, and up to what amount?
A bank that takes deposits must belong to a guarantee scheme, and the EAS foundation is the statutory one (EAG Art. 4(1)). Cover is CHF 100,000 per depositor per member bank, or the equivalent in another currency (Art. 2(1)(13)). Some deposits are excluded, for example those of banks, insurers and public bodies (Art. 8(1)).
Is the deposit guarantee in euro or in Swiss francs?
The act states it in Swiss francs: CHF 100,000 per depositor per member bank, or the equivalent in another currency (EAG Art. 2(1)(13)). It does not state the cover in euro. Deposits above that amount, up to CHF 750,000, count as covered under Art. 9 only if the conditions set out in that article are met.
How fast does the deposit guarantee pay out?
The scheme pays within seven working days after a payout event (EAG Art. 12(1)), unless it postpones the refund in a case listed in Art. 13(2). The depositor must have given the scheme an account for the transfer, except in a hardship case. The band above CHF 100,000 under Art. 9 is paid only on application (Art. 12(4)).
Why can a deposit lose cover if the holder was never identified?
A deposit whose holder was never identified under the Due Diligence Act (SPG Art. 7(1)) is excluded from the refund where it is no longer available (EAG Art. 8(1)(s)). A bank asks for identity documents because SPG Art. 6(1) requires it to identify its contracting party. The Deposit Guarantee Act only attaches a consequence to a missed identification.
Can a US citizen open a bank account in Liechtenstein?
The sources we rely on do not answer this, and we make no claim about acceptance. A bank decides on each relationship under its own due diligence duties: it identifies the contracting party, the beneficial owner and the purpose of the relationship (SPG Art. 6 to 8). LFT does not open accounts or introduce clients to banks.
Can a non-resident bank in Liechtenstein?
Our sources set no rule on this, and we promise nothing. Each bank decides whether to take a client after it has identified the client, the beneficial owner and the origin of the assets (SPG Art. 6 to 8). LFT prepares and coordinates a formation file with the licensed trustee; it does not open accounts or choose a bank.
Is a minimum deposit required by law?
No statute in our sources sets a minimum deposit, and none states a bank's own minimum. A figure that circulates on provider pages has no source in the acts we cite. Do not confuse any such figure with the deposit cover of CHF 100,000, which is a ceiling on protection per depositor and bank, not an entry threshold.
How many banks are there in Liechtenstein, and who supervises them?
The FMA list of market participants showed 11 banks at 31 December 2024, against 13 in 2020. The FMA licenses and supervises them. The same list shows 3 e-money institutions and 1 payment institution, which are not counted as banks. Later changes appear on the Bankers Association member page, which can lag.
Which banks operate in Liechtenstein?
The Bankers Association member page names twelve: Bank Frick, Banking Circle (Liechtenstein), Banque Havilland (Liechtenstein), BENDURA BANK, Celsion Bank, EFG Bank von Ernst, Kaiser Partner Privatbank, LGT Bank, Liechtensteinische Landesbank, Neue Bank, SIGMA Bank and VP Bank. It marks Banque Havilland as in voluntary liquidation and may lag the FMA list.
What does a Liechtenstein bank ask of a new corporate client?
It identifies the contracting party by documents with evidentiary value (SPG Art. 6(1)), identifies and checks the beneficial owner (Art. 7), and builds a business profile covering the origin of the assets, the purpose and the intended nature of the relationship (Art. 8(1)). Whether to accept the client remains the bank's decision.
Does a bank need to know the beneficial owner of a company?
Yes. A bank must identify and check the beneficial owner (SPG Art. 7(1), (2)). For a legal entity that must report its beneficial owners, it obtains a register extract when the relationship starts (Art. 7(3a)). The UBO register act provides for disclosure of register data to banks (VwbPG Art. 15).
Why does a new AG or GmbH need a bank certificate?
Minimum capital and minimum assets must be fully paid in (PGR Art. 122(2)), and the register filing needs the bank certificate on the payment: for a GmbH under HRV Art. 71(1)(c), for an AG on simultaneous formation under Art. 56(1)(c). The licensed trustee makes the filing; LFT prepares and coordinates.
Can a new bank be licensed, and is there a market-need test?
A bank needs an FMA licence before it starts business (Banking Act Art. 16(1)). There is no market-need test: the FMA may not refuse an application on the ground of market need (Art. 25(8)). Initial capital is at least EUR 10 million or the equivalent in CHF or USD (Art. 18(1)). Shell banks are banned (Art. 10).