Family Office and Wealth Structuring in Liechtenstein
One desk prepares and coordinates your family's structure. A licensed trustee, asset manager or bank does each reserved act.
- Portfolio management: an FMA-licensed asset manager or bank
- Formation and council mandates: licensed Liechtenstein trustee
- Foundation declaration: written form, signatures certified
A family office with one desk and licensed partners for the reserved acts
LFF Heritage Trusts prepares and coordinates the structure for families, entrepreneurs and their advisers. The top vehicle is the foundation that holds a family's wealth from Vaduz or a trust, and the papers, banks and advisers around it run through one desk.
"Family office" is a market label, not a legal form and not a licence. Each function has its own statute, and a licensed party performs it: the trustee under the Trustee Act, the asset manager under the Asset Management Act.
A Liechtenstein family-office structure
The family
Top vehicle
one of two alternatives
Foundation
declaration in written form, signatures certified
Trust
trust agreement or trust letter
Holding vehicle
AG, GmbH or Anstalt, only if wanted
Further organ
advisory tasks, no power of representation
Portfolio
FMA-licensed asset manager or bank
Custody: bank
the asset manager never holds client assets
LFF Heritage Trusts
prepares and coordinates, outside the structure
LFT sits outside the legal structure; it coordinates the parties inside it.
What's included
Goals and documents
We prepare the goals note, family map and asset overview, and collect the documents each partner needs.
The top vehicle
A foundation or a Liechtenstein trust, set up with the licensed trustee. For a foundation that serves the family, see our family foundation service.
A holding vehicle, if wanted
An AG, GmbH or Anstalt below the top vehicle as the holding vehicle for participations and intellectual property, formed and filed by the licensed trustee.
Council and board mandates
The foundation council or board seat, and the qualified member, are taken by the licensed trustee through our foundation administration service.
Portfolio management
An FMA-licensed asset manager or a bank manages the portfolio, never LFT. Pooled vehicles are a separate subject: the AIF and UCITS structures available in Vaduz.
Tax, books and philanthropy
Tax filings and bookkeeping stay with the licensed trustee, including tax advice for a foundation, a trust or a company in Liechtenstein. A philanthropy sleeve is optional.
Who does what: the reserved-act split
Each function, the rule that governs it, and who performs it.
Functions of a Liechtenstein family-office structure and who performs each
| Function | Governing rule | Who performs |
|---|---|---|
| Goals, family map, asset overview, documents | No reserved act | LFT prepares and coordinates |
| Top vehicle: foundation or trust | PGR Art. 552 (foundation); PGR Art. 917 (trust); formation for third parties is a trustee activity, TrHG Art. 2(a) | Licensed trustee; a lawyer advises on law (RAG Art. 8) |
| Holding vehicle below the top vehicle | Formation for third parties, TrHG Art. 2(a) | Licensed trustee forms and files |
| Board, foundation council, trusteeship | Art. 180a mandates and trusteeships, TrHG Art. 2(b) | Licensed trustee |
| Further foundation organ (advisory or asset-administration tasks) | No power of representation, PGR Art. 552 § 28(1) | Set up by the founder in the deed |
| Portfolio management and investment advice | Licence needed for third parties in the course of business, VVG Art. 3(2), Art. 5; exclusions in Art. 2(2) | FMA-licensed asset management company or bank, never LFT |
| Financial and business advice | TrHG Art. 2(c) | Licensed trustee |
| Tax advice, bookkeeping | TrHG Art. 2(d), (e) | Licensed trustee (bookkeeping also a trade-licence holder) |
| Philanthropy sleeve | Charitable purposes possible, PGR Art. 552 § 2(1); supervision, § 29 | Charitable foundation set up by the licensed trustee |
Source: VVG Art. 2(2), 3, 5; TrHG Art. 2; PGR Art. 552, 917; FMA on asset management companies.
Who it is for
Families across generations
Families holding wealth across generations who want one desk for structure, banks and advisers.
Entrepreneurs with a family business
Owners who want the business held and kept in order, and who think about the handover; see our succession planning service.
Advisers who bring a client
Private bankers, family lawyers and tax advisers who need the Liechtenstein side coordinated.
How the engagement works
No period is promised. The one statutory deadline here is the 30-day beneficial-owner report (step 6).
Eight steps of a family-office engagement
Goals and family map
Who acts: LFT prepares; the family decides
Top vehicle and founding document
Who acts: Licensed trustee or lawyer drafts
Holding vehicle, if wanted
Who acts: Licensed trustee forms and files
Council or board mandate
Who acts: Licensed trustee
Portfolio management
Who acts: FMA-licensed asset manager or bank
AML checks and beneficial-owner report
Who acts: Trustee, asset manager, bank; the legal entity
Tax filings and bookkeeping
Who acts: Licensed trustee
Philanthropy sleeve, if wanted
charitable foundation set up by the trustee
Who acts: Licensed trustee
Each step names who acts; none carries a promised duration.
Goals and family map
Goals, family map, assets and countries involved. LFT prepares; the family decides.
Top vehicle
A foundation declaration in written form with certified signatures, or a trust agreement. Trustee or lawyer drafts.
Holding vehicle, if wanted
A new company, or a shelf company Liechtenstein bought ready-made. Licensed trustee forms and files.
Council or board mandate
Council or board seat and qualified member. Licensed trustee.
Portfolio management
Portfolio management and investment advice. FMA-licensed asset manager or bank, never LFT.
Checks and registers
Trustee, asset manager and bank check identities and beneficial owners; the legal entity makes the register report.
Tax and books
Tax filings and bookkeeping kept current. Licensed trustee; bookkeeping also by a trade-licence holder.
Philanthropy, if wanted
A charitable foundation as a sleeve of the structure. Set up by the licensed trustee; supervised by STIFTA.
Not sure which part the family decides?
Tell us what the family holds. We map each function to the party that performs it.
Documents and rules that apply
What we collect at the start:
- A goals note for the structure
- A family map with the people involved
- An overview of the assets and where they sit
- Existing deeds or trust documents
- Identity documents of the founder and each beneficial owner
- A list of existing banks and advisers
- Tax and accounting records where a structure exists
- Wishes on philanthropy, if any
The rules each partner works under:
Requirements for a Liechtenstein family-office structure
| Requirement | Rule | Statute | Who acts |
|---|---|---|---|
| Licence for portfolio management and investment advice | FMA licence before starting business; licensed companies provide the services in the course of business, subject to the exclusions in Art. 2(2) | VVG Art. 2(2), Art. 3(2), Art. 5 | FMA-licensed asset manager or bank |
| Initial capital of an asset management company | At least EUR 75,000, or the equivalent in CHF or USD | VVG Art. 8(2) | The asset management company |
| Client assets | Never received or held by the asset management company; custody sits with a bank | VVG Art. 3(3) | The bank |
| Trustee activities | Formation for third parties, Art. 180a mandates and trusteeships, financial and business advice, tax advice | TrHG Art. 2(a)-(d) | Licensed trustee |
| Unlicensed exercise | Exercising a trustee activity professionally without a licence is a criminal offence (Vergehen); offering one without a licence is an administrative offence (Übertretung) fined by the FMA | TrHG Art. 80(1) (exercise); Art. 81(1)(k) (offering) | The reason for the licensed-partner model |
| Foundation declaration | Written form, certified founder signatures, not a public deed | PGR Art. 552 § 14(1) | Founder signs; licensed trustee or lawyer drafts |
| Further foundation organs | No power of representation | PGR Art. 552 § 28(1) | Set up by the deed |
| AML due diligence | Licensed asset managers and service providers to legal entities are obliged entities | SPG Art. 3(1)(i), (k) | Trustee, asset manager, bank |
| Beneficial-owner report | Within 30 days: companies and Anstalten from the commercial register entry; foundations and trusts from the entry, the formation notice or the founding; access limited since 30 July 2026, deadlines that cannot be met remain suspended | VwbPG Art. 4(1), Art. 4(4)(a)-(c) | The legal entity itself |
Problems we solve
A label without a definition
"Family office" has no statutory definition, so we name the statute behind each function first.
Who manages the money
Portfolio management is placed with an FMA-licensed asset manager or a bank, and the asset manager never holds the assets. Firms seeking their own licence: an investment firm, insurer or asset manager authorised in Liechtenstein.
Who does which reserved act
One table splits the work between trustee, asset manager and lawyer.
What a founder's organ can do
The founder can set up a further organ for advice or the administration of assets. It has no power of representation.
What the registers show
Confidentiality is described by what each register publishes, not promised. Access to the register of beneficial owners has been limited since 30 July 2026.
Want the structure kept in order?
Send us what the family holds. We set out the partners and the order of work, pricing on request.
Why work with us
Annika Vetsch, Private wealth and foundations lead in Vaduz, keeps your structure on one desk. We prepare each step; a licensed trustee named in your engagement letter, an FMA-licensed asset manager or a bank does the reserved work.
Frequently asked questions
What is a family office in Liechtenstein, and is it a legal form?
It is a market label, not a legal form and not a licence. We found no statutory definition of it in the Persons and Companies Act or the Asset Management Act. What counts is the function: each one, from formation to portfolio management, has its own statute and a licensed party who performs it.
Who may manage the portfolio of a Liechtenstein family structure?
Portfolio management and investment advice for third parties, in the course of business, need an FMA-licensed asset management company (VVG Art. 3(2), Art. 5), subject to the exclusions in Art. 2(2). A bank acts under its own licence. LFT neither manages portfolios nor gives investment advice. An asset manager never holds client assets; custody sits with a bank.
What does a licensed trustee do that a family office coordinator may not?
Forming companies and trusteeships for third parties, council and board mandates under PGR Art. 180a, financial and business advice, tax advice and bookkeeping are trustee activities (TrHG Art. 2). Exercising them professionally without a licence is a criminal offence (Vergehen). LFT prepares and coordinates; the licensed trustee, named in your engagement letter, acts.
Can a foundation council manage investments itself?
A council mandate is itself a trustee activity (TrHG Art. 2(b)). The Asset Management Act does not apply to services given solely within an organ mandate (VVG Art. 2(2)(d)). The council administers the assets; portfolio management for the structure is placed with an FMA-licensed asset manager or bank, never with LFT. A Liechtenstein lawyer advises on a specific case.
Which structures can sit at the top of a Liechtenstein family office?
A foundation or a trust. A foundation is set up by a declaration in written form with certified signatures; a trust places assets under a named trustee by trust agreement or trust letter. Forming either for third parties is a trustee activity (TrHG Art. 2(a)). The family chooses with the licensed trustee, and a lawyer advises on law.
Is a holding company needed below a foundation?
It is optional: the family adds a holding vehicle only if it wants one. An AG, GmbH or Anstalt below the top vehicle is formed and filed by the licensed trustee, because formation for third parties is a trustee activity (TrHG Art. 2(a)). The holding company, and its own requirements, are covered on a separate page.
How does philanthropy fit into the structure?
A foundation may pursue charitable or private-benefit purposes (PGR Art. 552 § 2(1)), so a philanthropy sleeve can be a charitable foundation set up by the licensed trustee. Charitable foundations are supervised by STIFTA, as set out in how a charitable foundation in Liechtenstein is supervised and reported on. A private-benefit foundation is supervised only if its deed so provides.
Which AML checks does the family have to pass?
Identification and beneficial-owner checks, run by the obliged entities: the licensed trustee, the asset management company and the bank. Service providers to legal entities, including foundation council members, trustees and providers of a seat or address, are obliged entities under the due diligence act (SPG Art. 3(1)). LFT collects the documents.
Is the beneficial owner entered in a register, and who can see it?
Legal entities report beneficial owners within 30 days: companies from the commercial register entry (VwbPG Art. 4(4)(a)); foundations and trusts from the entry, the formation notice or founding (Art. 4(4)(b), (c)). Access has been limited since the cyberattack of 30 July 2026; external operations resume on 5 October 2026 in limited form; deadlines that cannot be met remain suspended.
Can the founder keep a say through a further organ of the foundation?
The deed can set up further organs, for example for advice or the administration of the assets. They have no power of representation (PGR Art. 552 § 28(1)), so they cannot act for the foundation. Whether an arrangement needs an FMA licence is a question for a Liechtenstein lawyer, who also advises on how the deed is worded.
How does a trust differ from a foundation as the top vehicle?
A foundation is formed by a declaration in written form with certified signatures, not a public deed (PGR Art. 552 § 14(1)). A trust rests on a trust agreement or trust letter placing assets under a named trustee (Art. 917). We do not rank them: the family chooses with the licensed trustee. Trust reform details sit on the trust page.
Which authority supervises asset managers?
The FMA. It grants, revokes and withdraws licences and can dissolve by force a company that acts as an asset manager without one. The licence duty also follows from naming the activity in the purpose clause of the statutes. The initial capital is at least EUR 75,000 or the equivalent in CHF or USD (VVG Art. 8(2)).
Ready to set the structure in order?
One plan for your family's structure, with each partner named for each step. Pricing on request.