Trusts & Trustees Advance Access originally published online on May 15, 2009
Trusts & Trustees 2009 15(5):373-381; doi:10.1093/tandt/ttp042
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© The Author (2009). Published by Oxford University Press. All rights reserved.
Liechtenstein: the reform of foundation law
*Thomas Zwiefelhofer, Member of the Board of Directors, Allgemeines Treuunternehmen (General Trust Company), Aeulestrasse 5, P.O. Box 83, FL-9490 Vaduz, Liechtenstein. Tel: +423 237 34 34; Fax: +423 237 37 63; Email: thomas.zwiefelhofer{at}atu.li; Website: www.atu.li
The Liechtenstein foundation has come increasingly under attack in the last few years. Criticism has been aimed at, among other things, the legal and practical shortcomings of legislation which has rarely been amended over the last 80 years. Early in the Summer of 2008, Liechtenstein passed legislation reforming its foundation law, and on 1 April 2009 its new Foundation Act will enter into force. In a nutshell, the responsibility of the founder has been increased and the risk of abuse reduced in order to silence international criticism on this subject.