 The Principality of Liechtenstein is a doubly landlocked alpine microstate in Western Europe, bordered by Switzerland to the west and south and by Austria to the east. Its capital is Vaduz, the biggest town is Schaan.
Liechtenstein is the smallest German-speaking semi-country in the world, and the only alpine country to lie entirely within the Alps. It is a constitutional monarchy. Much of Liechtenstein’s terrain is mountainous, making it a winter sports destination. The country has a strong financial sector located in the capital, Vaduz, and has been identified as a tax haven. It is a member of the European Free Trade Association. Liechtenstein is not part of the European Union. Despite or perhaps because of its limited natural resources, Liechtenstein is one of the few countries in the world with more registered companies than citizens; it has developed a prosperous, highly industrialized, free-enterprise economy, and boasts a financial service sector as well as a living standard which compares favorably with those of the urban areas of Liechtenstein’s large European neighbours. Relatively low business taxes—the maximum tax rate is 20% as well as easy Rules of Incorporation have induced about 73,700 holding (or so-called ‘letter box’) companies to establish registered offices in Liechtenstein. This provides about 30% of Liechtenstein’s state revenue. Liechtenstein also generates revenue from Stiftungen (”foundations”), which are financial entities created to increase the privacy of nonresident foreigners’ financial holdings. The foundation is registered in the name of a Liechtensteiner, often a lawyer. The GDP (PPP) is $4.16 billion, or $118,000 per person. Liechtenstein is a large producer of ceramics, and is the world’s largest producer of sausage casings and false teeth. Other industries include electronics, textiles, precision instruments, metal manufacturing, power tools, anchors, calculators, pharmaceuticals, and food products. Liechtenstein also produces wheat, barley, corn, potatoes, dairy products, livestock, and wine. Tourism also accounts for a large portion of the country’s economy. Liechtenstein’s most recognizable international company and largest employer is Hilti, a manufacturer of direct fastening systems and other high-end power tools. Liechtenstein is also the home of the Curta calculator and the principality produces a large portion of the world’s false teeth Population: 35,446 (2008) Please upgrade your Flash Player
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