Banks in Liechtenstein: A Guide to the Licensed Banking Sector
The FMA counted 11 banks in Liechtenstein at 31 December 2024. Each needs an FMA licence and, as the rule, EUR 10 million of initial capital. Deposits are covered up to CHF 100,000 per depositor per bank. Bank secrecy has no time limit, and account data is also exchanged automatically with partner states.
Short answer
This guide describes the banks as institutions, from the statutes and the regulator's list. It answers four questions in turn: which banks exist, what the law demands of them, what protects a depositor, and what a bank asks of a company. It opens no account, ranks no bank and recommends none. For a company, the bank is one step in registering a new company through a licensed trustee in Liechtenstein: we prepare and coordinate, and the licensed trustee forms the company and files it.
How many banks are there in Liechtenstein, and who supervises them?
The Financial Market Authority (Finanzmarktaufsicht, FMA) licenses and supervises the banks. Its list of market participants shows 11 banks at 31 December 2024. The year-end counts before that were 13 in 2020, 12 in 2021 and 2022, and 11 in 2023. The same list shows 3 e-money institutions and 1 payment institution (FMA list of market participants).
A bank needs an FMA licence before it starts business (Banking Act, Bankengesetz, BankG Art. 16(1)). The count above is therefore a count of licensed institutions, not of branches or offices. The act protects the creditors and investors of banks and the stability of the financial system (Art. 1(2)), as the Banking Act puts it in its opening article.
Banks in the FMA list of market participants, 2020 to 2024
- 13banks at year-end 2020FMA list of market participants
- 12banks at year-end 2021FMA list of market participants
- 12banks at year-end 2022FMA list of market participants
- 11banks at year-end 2023FMA list of market participants
- 11banks at 31 December 2024FMA list of market participants
Which banks operate in Liechtenstein?
The Liechtenstein Bankers Association (Bankenverband) lists twelve member banks on its member page, accessed on 31 October 2026. That page belongs to an industry association. It is not a register and it may lag. The FMA count above is dated 31 December 2024, so the two sources differ in date and in scope. The association lists these banks, in its own alphabetical order.
| Bank | License held since (as printed) | Note |
|---|---|---|
| Bank Frick | 10.11.1998 | |
| Banking Circle (Liechtenstein) | 31.07.2024 | |
| Banque Havilland (Liechtenstein) | 14.07.1998 | Marked on the page as in voluntary liquidation, no date given |
| BENDURA BANK | 14.07.1998 | |
| Celsion Bank | 18.02.2026 | |
| EFG Bank von Ernst | 01.12.1998 | |
| Kaiser Partner Privatbank | 26.05.1999 | |
| LGT Bank | 24.11.1920 | |
| Liechtensteinische Landesbank | 05.12.1861 | |
| Neue Bank | 15.10.1991 | |
| SIGMA Bank | 11.11.1997 | |
| VP Bank | 04.04.1956 |
Two entries show changes that the FMA count at 31 December 2024 cannot reflect: the Celsion Bank licence date of 18.02.2026 and the Banque Havilland mark. The page gives no date for the liquidation. This guide does not state what they mean for depositors. Source: Bankers Association, member banks.
What does a bank need to be licensed in Liechtenstein?
A bank needs an FMA licence before it starts business (BankG Art. 16(1)). The FMA may not refuse an application on the ground of market need (Art. 25(8)). Initial capital is at least EUR 10 million or the equivalent in CHF or USD (Art. 18(1)). In justified cases the FMA may prescribe a different amount, never below EUR 5 million or the equivalent (Art. 18(3)).
The act in force is LGBl 2025 Nr. 085. It replaced the 1992 act, so older figures and article numbers printed on other pages do not apply. The six rules below are the ones that decide whether an institution may call itself a bank and take deposits.
| Rule | What the act says | Article |
|---|---|---|
| Licence duty | A bank needs an FMA licence before it starts business | BankG Art. 16(1) |
| Market need | The FMA may not refuse an application on the ground of market need | BankG Art. 25(8) |
| Initial capital | At least EUR 10 million or the equivalent in CHF or USD | BankG Art. 18(1) |
| Different capital | In justified cases another amount, never below EUR 5 million or the equivalent | BankG Art. 18(3) |
| Guarantee scheme | A bank that takes deposits must belong to a guarantee scheme | BankG Art. 11 |
| Purpose | Protection of creditors and investors of banks and of the stability of the financial system | BankG Art. 1(2) |
Shell banks are banned
The Banking Act bans the operation of a shell bank: a bank with no physical presence in Liechtenstein that sits outside a qualifying supervised group (Art. 10). A due diligence entity keeps no correspondent relationship with a shell bank (Due Diligence Act, Sorgfaltspflichtgesetz, SPG Art. 13(1)).
Are deposits in a Liechtenstein bank protected, and up to what amount?
A bank that takes deposits must belong to a guarantee scheme (BankG Art. 11; Deposit Guarantee Act, Einlagensicherungs- und Anlegerentschädigungsgesetz, EAG Art. 6(1)). If it belongs to none, the FMA must withdraw its licence (EAG Art. 6(3)). The statutory scheme is the foundation EAS (EAG Art. 4(1)), set up under the Deposit Guarantee Act.
The cover is CHF 100,000 per depositor per member bank, or the equivalent in another currency (EAG Art. 2(1)(13)). The statute names the Swiss franc, not the euro. The limit applies per depositor and per bank, not per account.
Deposits above CHF 100,000 up to CHF 750,000 count as covered under Art. 9 only if conditions are met. This guide names the band and not the conditions.
The cover has a purpose beyond the number. The Banking Act ties the licence to scheme membership, so a bank cannot take deposits and stay outside the system. For a depositor, the practical reading is the unit of cover: one limit per bank, counted for each depositor.
Per depositor, per bank
One depositor
balances not shown
Member bank 1
covered up to CHF 100,000 per depositor
Member bank 2
covered up to CHF 100,000 per depositor
How fast does the guarantee pay out, and which deposits are excluded?
Three points from the Deposit Guarantee Act decide what a reader can expect from the cover.
Payout period
Within seven working days after a payout event (EAG Art. 12(1)). The depositor must have given the scheme an account for the transfer, except in a hardship case.
Excluded deposits
Art. 8(1) excludes, among others, deposits of banks, insurers and public bodies. It is not a list of every exclusion.
Holder never identified
A deposit whose holder was never identified under SPG Art. 7(1) is excluded from the refund where it is no longer available (EAG Art. 8(1)(s)).
Is a holding in Liechtenstein part of your plan?
A holding company is one structure a licensed trustee can set up. Read how it works.
Is Liechtenstein banking secrecy still in force?
The secrecy duty of a bank is unlimited in time (BankG Art. 12(1)). The duty has carve-outs. The legal duties to testify and to inform courts, criminal authorities, the FMA, recognised auditors and the financial intelligence unit (FIU) are reserved (Art. 12(2)(a)). Art. 12(2)(b) to (d) also reserve cooperation with the FIU and other supervisors, disclosure to the deposit guarantee scheme and disclosure of the identity of shareholders under the Persons and Companies Act.
Beside the duty, the Act on the automatic exchange of financial account information (AIA Act) applies the OECD common reporting standard with partner states. It has been in force since 1 January 2016 (AIA Act, Art. 1(1)). The Tax Administration passes the data on in an automated procedure (Art. 14(1)). Secrecy is neither gone nor absolute. The duty binds the bank, and the exceptions are listed in the act itself.
On the question whether the country is a tax haven, this guide gives no verdict. It shows the transparency standards the country has adopted as the statute states them.
| Duty or rule | What it says | Article |
|---|---|---|
| Secrecy duty | Unlimited in time | BankG Art. 12(1) |
| Reserved duties to authorities | Testimony and information to courts, criminal authorities, the FMA, recognised auditors and the FIU | BankG Art. 12(2)(a) |
| Further reservations | Cooperation with the FIU and other supervisors, disclosure to the guarantee scheme, disclosure of shareholder identity under the Persons and Companies Act | BankG Art. 12(2)(b) to (d) |
| Automatic exchange | Financial account information exchanged with partner states on the OECD standard, in force 1 January 2016 | AIA Act Art. 1(1) |
| Transmission and its limits | Automated transmission; not where it would breach Liechtenstein public policy or the foreign authority cannot supply comparable data | AIA Act Art. 14(1) to (3) |
What does a Liechtenstein bank ask of a new corporate client?
The bank decides on the relationship under its own due diligence duties (SPG Art. 6 to 9). The steps below are the statutory ones, not the checklist of one bank. The act gives the framework and each bank applies it in its own way, as the Due Diligence Act sets them out.
Step 1: the bank is a due diligence entity
A bank with a licence under the Banking Act is a due diligence entity (SPG Art. 3(1)(a)).
Step 2: identify the contracting party
The bank identifies the contracting party and checks identity by documents with evidentiary value (Art. 6(1)). The client supplies the documents.
Step 3: identify the beneficial owner
The bank identifies and checks the beneficial owner (Art. 7(1), (2)). For a legal entity that must report its beneficial owners, it obtains a register extract when the relationship starts (Art. 7(3a)). The UBO register act provides for disclosure of register data to banks (Beneficial Owners Register Act, VwbPG Art. 15).
Step 4: build the business profile
The profile covers the origin of the assets and the purpose and intended nature of the relationship (Art. 8(1)).
Since the cyberattack of 30 July 2026, external access to the UBO register resumed on 5 October 2026 on a limited basis, according to the national administration. For the register itself, see the UBO register guide.
Why does a new AG or GmbH need a bank certificate?
The minimum capital and minimum assets of a company must be fully paid in (Persons and Companies Act, Personen- und Gesellschaftsrecht, PGR Art. 122(2)). The commercial register filing for an AG on simultaneous formation needs the bank certificate on the payment (Commercial Register Ordinance, Handelsregisterverordnung, HRV Art. 56(1)(c)). The GmbH filing needs the bank certificate on the payment of the share capital (Art. 71(1)(c), or Art. 71a(b) on the simplified route).
The licensed trustee makes the filing (Trustee Act, Treuhändergesetz, TrHG Art. 2(a)). The bank issues the certificate on the payment. This is why a bank appears in a company formation at all: the register filing cannot be completed without the certificate. In practice an advance certificate is used to open the capital-deposit account. That is practice, not law. The articles are in the Commercial Register Ordinance and the Persons and Companies Act. For the register itself, see the commercial register guide.
Is there a minimum deposit, and who can open an account?
No source used for this guide sets a minimum deposit or states the own minimum of a bank, so the guide prints no figure. A round number circulates on provider pages and has no statutory basis here.
Whether a bank accepts a non-resident or a foreign national, a US citizen included, is the bank's decision under its due diligence duties (SPG Art. 6 to 9). This guide makes no acceptance claim.
Account-opening time and remote onboarding are not stated either, for the same reason. The reader who needs a number should ask the bank, since a figure from a provider page has no source here. The bank account Liechtenstein guide covers the account side.
From our practice: how the agency handles a banking question
Alpine Business Bridge is a business development and corporate services agency. It explains the sector from the statute, collects the documents a bank will ask for and coordinates with the licensed partner. The bank decides.
What we do:
- Explain the sector and the statutory duties.
- Collect identity and ownership documents.
- Coordinate the paying-in and the bank certificate with the licensed trustee.
- Coordinate with the licensed partner.
What we do not do:
- Open an account.
- Guarantee an account.
- Choose, rank or recommend a bank.
- Act as trustee or file at the register.
Sources
Items 1 to 4 and 8 to 12 are statutes. Item 5 is the national administration's page on the UBO register. Items 6 and 7 are the FMA list and the association page: lists, not law. The guide reads the primary text wherever one exists.
- Banking Act (BankG), LGBl 2025 Nr. 085
- Deposit Guarantee and Investor Compensation Act (EAG)
- Due Diligence Act (SPG)
- Beneficial Owners Register Act (VwbPG)
- Register of beneficial owners, National Administration
- FMA list of market participants, 31 December 2024
- Liechtenstein Bankers Association, member banks
- AIA Act on automatic exchange of information
- Trustee Act (TrHG)
- Lawyers Act (RAG)
- Commercial Register Ordinance (HRV)
- Persons and Companies Act (PGR)
Frequently asked questions
Is Liechtenstein banking secrecy still in force?
Yes. Under the Banking Act the secrecy duty of a bank is unlimited in time (Art. 12(1)). It has carve-outs for courts, criminal authorities, the FMA, auditors and the FIU. Beside it, Liechtenstein exchanges financial account data automatically with partner states, so secrecy is neither absolute nor gone.
Is Liechtenstein a tax haven?
This guide gives no verdict. It states what the law shows: the AIA Act implements automatic exchange of financial account information on the OECD standard, in force since 1 January 2016. The tax-haven guide on this site covers the transparency standards the country has adopted.
Are my deposits protected in a Liechtenstein bank, and up to what amount?
Yes, up to a limit. Covered deposits are CHF 100,000 per depositor per member bank (EAG Art. 2(1)(13)). A bank that takes deposits must belong to a guarantee scheme, and the statutory scheme is the EAS foundation. The limit applies per depositor and per bank, not per account.
Is the deposit guarantee in euro or in Swiss francs?
In Swiss francs. The act sets the cover at CHF 100,000 per depositor per member bank, or the equivalent in a foreign currency (Art. 2(1)(13)). The statute sets no euro amount, so none is given here. A deposit held in euro is measured against that franc amount.
How fast does the deposit guarantee pay out?
The scheme must pay within seven working days after a payout event (EAG Art. 12(1)). The depositor gives the scheme an account for the transfer, unless it is a hardship case. This guide states no payout made in practice; it gives only the period in the statute.
Why can a deposit lose cover if the holder was never identified?
The act excludes a deposit whose holder was never identified under Art. 7(1) of the Due Diligence Act, where the deposit is no longer available (EAG Art. 8(1)(s)). Deposits of banks, insurers and public bodies are excluded as well. Identification at account opening therefore also bears on a refund.
Can a US citizen open a bank account in Liechtenstein?
This guide makes no acceptance claim. Whether a bank takes a US citizen is the bank's decision under its due diligence duties: it identifies the contracting party and the beneficial owner and builds a business profile (SPG Art. 6 to 8). The bank-account guide on this site covers the account side.
Can a non-resident open a bank account in Liechtenstein?
No source used for this guide says either way. A non-resident passes the same statutory checks as any client, and the bank decides whether to open the account, how fast and on which conditions. Those are bank policies, and the bank-account guide covers them. This guide makes no acceptance claim.
Is a minimum deposit required by law?
No source used for this guide sets a minimum deposit by law, and none states the own minimum of a bank. A round figure circulates on provider pages without a statutory basis, so this guide prints none. Ask the bank for its current terms.
How many banks are there in Liechtenstein, and who supervises them?
The FMA list of market participants counted 11 banks at 31 December 2024, after 13 in 2020, 12 in 2021 and 2022 and 11 in 2023. The FMA licenses and supervises them. The Bankers Association member page shows later changes, but it is an association page, not a register.
Which banks operate in Liechtenstein?
The Bankers Association member page lists 12 banks, among them Bank Frick, LGT Bank, Liechtensteinische Landesbank, Neue Bank and VP Bank, each with the date its licence was held since. It marks Banque Havilland as in voluntary liquidation. It is an association page, not a register, and this guide ranks no bank.
What does a Liechtenstein bank ask of a new corporate client?
A bank identifies the contracting party with documents of evidentiary value (SPG Art. 6(1)). It identifies and checks the beneficial owner (Art. 7(1), (2)) and records the origin of the assets and the purpose and intended nature of the relationship (Art. 8(1)). Each bank applies these duties in its own way.
Does a bank need to know the beneficial owner of a company?
Yes. The bank identifies and checks the beneficial owner and, for a legal entity that must report its owners, obtains a register extract (SPG Art. 7(3a)). The UBO register act provides for disclosure of register data to banks (VwbPG Art. 15). External access resumed on 5 October 2026 on a limited basis.
Why does a new AG or GmbH need a bank certificate?
The capital must be fully paid in (PGR Art. 122(2)). The commercial register filing for an AG carries the bank certificate on the payment (HRV Art. 56(1)(c)), and for a GmbH the certificate on the paid-in share capital (Art. 71(1)(c)). The licensed trustee makes the filing; the bank issues the certificate.
Can a new bank be licensed, and is there a market-need test?
A new bank needs an FMA licence (BankG Art. 16(1)), and the FMA may not weigh the economic needs of the market (Art. 25(8)). Initial capital is at least EUR 10 million or the equivalent in CHF or USD (Art. 18(1)); in justified cases the FMA may set another amount, never below EUR 5 million (Art. 18(3)).