The COVID-19 pandemic has been challenging for most countries worldwide and the various degrees of lockdown measures have destroyed businesses and jobs for many. Chances are the pandemic will continue.
As a beneficiary of a trust or foundation structure it is important to be able to communicate with the trustee, no matter what. A pandemic can put pressure on liquidity and increase the demand, at least short-term, to compensate for reduced income or losses generated. As a financial centre Liechtenstein has shown remarkable resilience in the crisis and has been able to remain open for business and transactions during the whole of the COVID-19 period to date. Standard & Poor’s has confirmed Liechtenstein’s AAA rating. Best in class telecommunications infrastructure facilitates modern video conferencing facilities for every business and client. Experience shows that even complex cross-border business transactions could be completed on time and in an efficient manner.
I am convinced that Liechtenstein offers an excellent mix of political stability, a strategic geographical location, good accessibility, first rate technological infrastructure, an educated work force and business track record for anyone who wants to implement a succession plan, be it for business or private assets.
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