Beste Strukturierte Finanzierung Anwälte in Liechtenstein

1. About Strukturierte Finanzierung Law in Liechtenstein

Structured financing in Liechtenstein involves financing arrangements that use special purpose vehicles (SPVs), securitisation, collateral packages and complex cash-flow structures to optimize capital and risk allocation. The regime is built on Liechtenstein civil and corporate law, complemented by financial market supervision and anti-money laundering rules. There is no standalone securitisation act; most activities rely on general securities, corporate, and AML provisions together with regulatory oversight by the Financial Market Authority (FMA).

Liechtenstein's status as an EEA member shapes its regulatory alignment with European standards for investor protection, disclosure, and market integrity. In practice, SPVs created in Liechtenstein can offer strong creditor rights and flexible governance, provided the documentation complies with civil code requirements and the relevant financial market rules. Compliance, disclosure, and cross-border considerations are central to any structured-finance project in this jurisdiction.

Key point: Liechtenstein maintains a robust regulatory framework for financial activities through the FMA, with emphasis on transparency, investor protection, and cross-border cooperation.

For a practical overview of the regulatory landscape, consult official Liechtenstein sources such as the Financial Market Authority and the national law portal. See the FMA for supervisory guidance and Gesetze.li for current statutory texts.

Sources for official framework references include the Liechtenstein Financial Market Authority and the national law portal. FMA Liechtenstein | Gesetze.li.

2. Why You May Need a Lawyer

Structured financing deals in Liechtenstein typically involve intricate documentation and cross-border issues. An attorney ensures the SPV setup, transfer agreements, and intercreditor arrangements comply with Liechtenstein law and international best practices. They also help manage AML, tax, and regulatory disclosures that accompany securitisation or large credit facilities.

• SPV formation and asset transfer - You are creating an SPV to hold receivables or other assets and to issue securities. A lawyer drafts the articles, transfer mechanisms, and collateral packages to reflect local requirements and cross-border enforceability.
• Intercreditor and priority agreements - Complex waterfall structures and subordination rules require precise drafting to avoid disputes and preserve enforceability in liquidation scenarios.
• AML/KYC and regulatory compliance - Financial intermediaries must meet anti-money-laundering obligations. A lawyer ensures client due diligence, ongoing monitoring and reporting align with GwG requirements.
• Prospectus and disclosures - If securities are sold to investors, you need proper prospectus and disclosure documentation to satisfy local and cross-border investor protection standards.
• Tax and cross-border considerations - An adviser helps optimize structure for Liechtenstein tax purposes while considering double tax treaties and transfer pricing rules that may affect group financing.
• Regulatory approvals and licensing - Depending on the activities and counterparties, disclosures to or approvals from the FMA may be required during set-up and ongoing operations.

3. Local Laws Overview

Liechtenstein regulates financial market activities through a combination of AML, banking, and securities law, overseen by the Financial Market Authority (FMA). The core framework emphasizes transparency, due diligence, and market integrity for financial intermediaries and structured-finance arrangements.

Geldwäschereigesetz (GwG) - Anti-Money Laundering Act - GwG governs customer due diligence, suspicious activity reporting, record keeping, and ongoing monitoring for financial service providers. It is central to any structured-finance transaction with cross-border elements and intermediation by Liechtenstein-resident entities. See Gesetze.li for the current text and amendments.

Bankengesetz (BankG) - Banking Act - This act provides the regulatory framework for banks and bank-like activities, including risk management, capital requirements, and supervisory expectations. It affects how financing arrangements with bank participants are structured, documented, and deemed compliant. Official texts are available on Gesetze.li.

Wertpapiergesetz and Securities-Related Provisions - Liechtenstein securities law governs the offer, sale, and trading of securities and related prospectus obligations for issuances arising from securitisation or structured products. Compliance with prospectus and disclosure requirements is essential for investor protection. Current provisions can be found via Gesetze.li.

Recent reforms and EU-aligned standards are reflected in ongoing updates to these laws and related regulations. Practitioners and clients should verify the exact current versions and amendments on Gesetze.li and coordinate with the FMA for any compliance or licensing questions.

For a broader international reference on AML standards and financial regulation, see FATF and OECD guidance. FATF | OECD.

4. Frequently Asked Questions

What is Strukturierte Finanzierung in Liechtenstein?

Structured financing uses SPVs, special collateral arrangements and cash-flow structuring to finance assets. In Liechtenstein it relies on general corporate and securities laws under FMA supervision to ensure legality and investor protection.

How do I start a securitisation SPV in Liechtenstein?

Engage a Liechtenstein lawyer early to determine SPV type, governing law, and transfer mechanics. The process typically involves drafting the SPV charter, asset transfer agreements, and ensuring AML compliance.

When is a prospectus required for Liechtenstein structured finance?

When securities are offered to investors or the public, a prospectus or equivalent disclosure is typically required. An attorney can advise on whether a local prospectus is needed and what disclosures must be included.

Where can I find the current law on GwG in Liechtenstein?

The latest GwG text and amendments are published on Gesetze.li. Check the site for official versions and any recent changes affecting due diligence and reporting obligations.

Why would I need a Liechtenstein lawyer for a cross-border loan?

A Liechtenstein lawyer ensures cross-border documents are enforceable, aligns with local corporate and AML requirements, and coordinates with foreign counsel on tax and regulatory issues.

Can I use trust or foundation structures for securitisation in Liechtenstein?

Foundations and related structures can play a role in structuring assets or holding SPVs. A lawyer can advise on governance, asset transfers, and compliance with Liechtenstein law.

Should I engage a law firm early in the deal timeline?

Yes. Early engagement helps in choosing the right SPV structure, drafting key documents, and coordinating with the regulator to avoid later delays.

Do I need to publish financial statements for SPVs in Liechtenstein?

Public report requirements depend on the SPV’s form and activities. Your lawyer will confirm what must be filed with authorities and what can remain private.

How much do Liechtenstein structured-finance lawyers typically charge?

Fees vary by complexity and firm, but expect hourly rates to range widely. Ask for a written engagement letter with a transparent fee schedule and estimated milestones.

How long does a typical Liechtenstein securitisation close take?

Timeline depends on due diligence, document negotiation, and regulator interactions. A straightforward deal commonly spans 6 to 12 weeks from initial briefing to closing.

Is Liechtenstein part of the EEA and how does that affect structured finance?

Liechtenstein participates in the EEA, which influences regulatory alignment with EU standards on securities and AML. This can simplify cross-border issues but does not remove all Liechtenstein-specific requirements.

What is the engagement process with a Liechtenstein attorney?

Expect a multi-phase process: initial consultation, scope definition, document drafting, regulator coordination, and closing. Your lawyer should provide a clear timeline and milestone-based deliverables.

5. Additional Resources

• FMA Liechtenstein - The Financial Market Authority supervises financial institutions, market conduct and regulatory compliance in Liechtenstein. Link: FMA Liechtenstein
• Gesetze.li - Official portal hosting current Liechtenstein laws and regulations, including GwG, BankG, and securities related acts. Link: Gesetze.li
• FATF - International standards for anti-money laundering and countering the financing of terrorism; useful for understanding Liechtenstein’s AML obligations in a global context. Link: FATF

6. Next Steps

1. Define your transaction goals and asset mix clearly, including the intended investor base and jurisdictional scope.
2. Compile a preliminary document package (term sheet, asset schedules, existing contracts) to share with prospective lawyers.
3. Identify Liechtenstein-qualified structured-finance lawyers or firms with recent client experience in securitisation and SPVs; verify professional qualifications and bar membership.
4. Request initial consultations to compare approaches, fees, and proposed timelines; prepare a list of specific questions for each firm.
5. Ask for a detailed engagement letter with scope, milestones, and a transparent fee schedule; confirm whether a fixed fee or milestone-based model applies.
6. Proceed with a formal engagement, appoint a lead attorney, and establish a communication plan for regular updates and regulator interactions.
7. Develop a realistic project timeline, including due-diligence, drafting, regulatory filings, and closing milestones; monitor progress and adjust as needed.