The trust enterprise pursuant to Art. 932a §§ 1 to 170 of the Liechtenstein Persons and Companies Act "PGR" holds a unique position in Liechtenstein law, functioning as a company with its own assets that are managed or operated under its own name by one or more trustees similarly to the Massachusetts business trust. This entity, which can be structured in the manner of a foundation or a corporation, is legally independent and can engage in commercial activities or serve other purposes.
A trust enterprise is established by one or more natural persons or legal entities. The establishment process involves the preparation of trust articles in writing, which must be signed by the settlor or the trustees, with their signatures authenticated. The trust enterprise must be entered in the Commercial Register, making it a mandatory requirement.
The trust enterprise recognizes beneficiaries, who are persons that can derive economic benefits from the trust enterprise. The trust articles, or articles of association, of the trust enterprise must contain the information required by law and can also contain further details on the organization or more detailed regulations concerning the beneficiaries.
The registered domicile of the trust enterprise is at the place where the trust enterprise has the center of its administrative activities. The trust enterprise may have any specific, reasonable, and possible purpose that is not unlawful, immoral, or subversive. The minimum capital (minimum value of the trust fund) of the trust enterprise is CHF, EUR or USD 30'000.00, which must be fully paid up or contributed at the time of foundation.
The managing bodies of the trust enterprise are liable in accordance with the general liability provisions. Trust enterprises that engage in activities of a commercial nature are obliged to render proper accounts.
Source: Factsheet AJU/ h70.027e.03
Executive Summary:
- A trust enterprise is a company with its own assets that are managed or operated under its own name by one or more trustees.
- The establishment of a trust enterprise involves the preparation of trust articles in writing, which must be signed by the settlor or the trustees, with their signatures authenticated.
- The trust enterprise recognizes beneficiaries, who are persons that can derive economic benefits from the trust enterprise.
- The registered domicile of the trust enterprise is at the place where the trust enterprise has the center of its administrative activities.
- The minimum capital (minimum value of the trust fund) of the trust enterprise is CHF, EUR or USD 30'000.00, which must be fully paid up or contributed at the time of foundation.
- The managing bodies of the trust enterprise are liable in accordance with the general liability provisions.
- Trust enterprises that engage in activities of a commercial nature are obliged to render proper accounts.
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