Liechtenstein bank account
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Location: Central Europe
Population (2017): 38,000
Status: not a member of EU, member of the Council of Europe since 1978, member of the UN from 1990, member of the EFTA since 1991, member of the EEA and the WTO since 1995, member of the Schengen Area since 2011
Currency: CHF (Swiss franc)
Official languages: German
Deposit guarantee: 100,000 CHF
Liechtenstein it is a small country, situated between Switzerland and Austria, and a well known Alpine skiing destination, also home to many museums and castles, including the famed Vaduz Castle in which the Prince of Liechtenstein resides.
In the last 60 years the country experienced a transformation from an economy dominated by agriculture to one of the most highly industrialised countries in the world.
Now Liechtenstein is well known as a strong industrialized country.The most important sectors are: mechanical engineering, electrical machinery, dental technology, food products and construction work.
The second most important sector after industry is the financial services sector.
Around three-fifths of all persons employed work in the services sector. In this sector, the most important branches of the economy include financial and insurance services, legal and tax consultancy as well as trade.
Liechtenstein is affiliated to the Swiss payments, together with Switzerland, a SEPA participant and the Liechtenstein Bankers Association (LBA) is member of the European Payments Council (EPC).
The banks focus on private banking and wealth management and are very internationally-oriented.