The establishment is regulated in Art. 534 ff PGR.
The establishment is a specific Liechtenstein legal entity which can be used either for commercial purpose (e.g. the settlement of business transactions) or for non-commercial purposes (e.g. investment and the administration of investments, holding investments and property).
The establishment is a legal entity and is entered in the Public Register.
The statutory minimum capital of the establishment amounts to CHF 30,000.00 and has to be paid in in full at the time of formation. A splitting of shares is possible.
The supreme body of the establishment is usually the founder or his legal successor, the owner of the foundation rights. His position is much like that of a proprietor. The founder’s rights may be sold, inherited or assigned in other ways and are regularly documented in a so-called “declaration of assignment”. If the capital is split into shares and if stipulated in the articles of association, equity securities can be issued as an alternative.
The business of the establishment is done by the members of the board (Verwaltungsrat), comprising one or more members, representing the establishment solely or jointly.
The founder or his legal successor may appoint beneficiaries, similar to a foundation. If no special beneficiaries are appointed the founder or his legal successor is regarded as sole beneficiary.
The liquidation of an establishment requires a resolution by the founder or by his legal successor; the deletion from the Public Register can take place after a fixed period of six months at the earliest.
If the purpose of the establishment permits commercial activities, then the establishment is obliged to do bookkeeping or auditing.