Liechtenstein Public Limited Company, PLC., Corp.

Company formation / incorporation / setting up of a Public Limited Company (PLC., Corp.)

A Public Limited Company (PLC, Corp.) is suited to the carrying on of all commercial activities, particularly for active international trading transactions, as an umbrella organisation of subsidiary companies and as an asset management company for the regulation of private financial circumstances.

The name of a Public Limited Company (PLC., Corp.)

The name of a Public Limited Company (PLC., Corp.) may be in any language (in Latin or German characters). Made-up names may also be used. The company name is protected (exclusivity of the registered company). The use of domestic and international state and place names in the company name is only permitted with special permission.

The language of a Public Limited Company

The official language is German. A translation of the German-language formation deed can be prepared upon request.

Company formation/incorporation/setting up: purpose of a Public Limited Company

The purpose of a Public Limited Company may be commercial or non-commercial insofar as the said purpose is not illegal. This may be, for example, the trading of goods; the acquisition of investments; financing; the management of real estate;the exploitation of patents; leasing; asset managed for specific beneficiaries or purely charitable purposes. However, banking operations are only permitted to be carried on by banks and asset management for third-parties is only permitted to be undertaken by licensed trustees in Liechtenstein.

Company formation / incorporation / setting up: nominal capital of a Public Limited Company

The currency of the nominal capital may be specified in the articles of association as Swiss Francs, Euros or US Dollars. Attention must be paid to the nominal capital required. The nominal capital may be in the form of a cash or non-cash contribution. 

A minimum of 50,000 CHF/EUR/USD must be contributed to its nominal capital.

Shares of the Liechtenstein Public Limited Company (PLC., Corp.)

Bearer or registered shares are admissible, and the minimum nominal value of the shares is not stipulated. It is also possible to issue voting shares. There is no requirement to observe any procedure in the transfer of bearer shares. The law does not prescribe any obligatory qualifying share for the administration.

Company formation / incorporation / setting up: formation of a Public Limited Company ( PLC., Corp.)

A Public Limited Company (PLC., Corp) is formed through the submission of the founding documents and articles of association to the competent authorities. One natural or legal person suffices therefor. As a general rule, formation takes place on a fiduciary basis.

Company formation / incorporation / setting up: existence

A Public Limited Company (PLC., Corp.) officially comes into existence upon its registration in the Public Register (Commercial Register).

Governing authority

The General Meeting is the governing authority of a Public Limited Company (PLC., Corp.) and must be convened at least once per year to approve the annual accounts and to deal with any other of its duties imposed by law or by the articles of association.

The board of directors leads and manages the company's business.

The annual accounts must be examined by an auditor and thereafter the auditor should report to the General Meeting.

Administrative body of the Public Limited Company (PLC., Corp.)

At least one member of the administrative body (board of directors) must have his law office address in Liechtenstein and must possess certain qualifications. In addition thereto, any natural or legal person domiciled in or outwith Liechtenstein may be made members of the board of directors. The administrative body is the executive body of the company.

The appointment of an auditor

In general, a Public Limited Company (PLC., Corp.) must appoint an auditor.

Legal representative of a Public Limited Company (PLC., Corp.)

The legal representative is the official addressee and contact person of a Public Limited Company (PLC., Corp.) for the authorities including, for example, the tax authority and the Public Register Office.

Beneficiaries of a Public Limited Company

In a Public Limited Company (PLC., Corp.), the shareholders are entitled to the profits and the assets remaining after liquidation.

Bookkeeping

It is a legal requirement that all legal persons keep books.

This may be done in any legal currency. Moreover, the said booksmay be recorded in English, French, Italian, Spanish or Portuguese and may be kept in or outwith Liechtenstein. It may be the case that the annual accounts be required to be submitted to Liechtenstein's tax authority; where this is so, the annual accounts must be submitted together with, at least, a German translation thereof.

Time required for company formation / incorporation / setting up of a Public Limited Company (PLC., Corp.)

Formation normally takes place within one week.

Powers of attorney

Powers of attorney can be granted if, upon the instruction of the administrative body, transactions are to be handled by third parties. The holder of a power of attorney must report to the administrative body. As a general rule, only time-limited special powers of attorney will be granted due to the liability of the administrative body.

Liquidation of a Public Limited Company (PLC., Corp.)

At the earliest, a Public Limited Company (PLC., Corp.) registered in the Public Register may be dissolved six months after the issuing of the third notice to the creditors. Dissolution may only take place following the completion of the liquidation process.

Submission of balance sheet

The audited annual accounts must be submitted to Liechtenstein's tax authority.