New legal obligations for domestic legal entities in Liechtenstein

In order to combat money laundering and terrorist financing, it was decided – in implementation of the Fourth EU Anti-Money Laundering Directive – that a register should be established in Liechtenstein in which legal entities must enter their beneficial owners. The Act on the Register of Beneficial Owners of Domestic Legal Entities (VwEG) entered into force on 1 August 2019. Existing legal entities must report the required data to the Office of Justice (Amt für Justiz) by the end of January 2020 at the latest. New legal entities must have the data entered in the register within 30 days of their registration in the Commercial Register.