Liechtenstein

CAPITAL CITY OF Liechtenstein: Vaduz
LANGUAGE OF Liechtenstein: German
CURRENCY OF Liechtenstein: Swiss franc (CHF)
COMMENTS ABOUT Liechtenstein:
Liechtenstein is a tiny country between Switzerland and Austria.
Cities : Vaduz (capital), Schaan
Electricity : 230V/50Hz (European plug)
Calling Code : +423
Time Zone : UTC +1
The Principality of Liechtenstein was established within the Holy Roman Empire in 1719; it became a sovereign state in 1806. Until the end of World War I, it was closely tied to Austria, but the economic devastation caused by that conflict forced Liechtenstein to enter into a customs and monetary union with Switzerland. Since World War II (in which Liechtenstein remained neutral), the country's low taxes have spurred outstanding economic growth. Shortcomings in banking regulatory oversight have resulted in concerns about the use of the financial institutions for money laundering. Liechtenstein has, however, implemented new anti-money-laundering legislation and recently concluded a Mutual Legal Assistance Treaty with the US.
CLIMATE OF Liechtenstein: continental; cold, cloudy winters with frequent snow or rain; cool to moderately warm, cloudy, humid summers
RELIGION OF Liechtenstein: Roman Catholic 76.2%, Protestant 7%, unknown 10.6%, other 6.2% (June 2002)
POPULATION OF Liechtenstein: 33,436 (July 2004 est.)>>>>
ECONOMY OVERVIEW OF Liechtenstein: Despite its small size and limited natural resources, Liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector and living standards on a par with its large European neighbors. The Liechtenstein economy is widely diversified with a large number of small businesses. Low business taxes - the maximum tax rate is 20% - and easy incorporation rules have induced many holding or so-called letter box companies to establish nominal offices in Liechtenstein, providing 30% of state revenues. The country participates in a customs union with Switzerland and uses the Swiss franc as its national currency. It imports more than 90% of its energy requirements. Liechtenstein has been a member of the European Economic Area (an organization serving as a bridge between the European Free Trade Association (EFTA) and the EU) since May 1995. The government is working to harmonize its economic policies with those of an integrated Europe.