General information - Liechtenstein

CFCL eligible fund types

Register market

Under Liechtenstein Law, investment funds can be set up as:

• UCITS under the Liechtenstein UCITS law –Gesetz über bestimmte Organismen für gemeinsame Anlagen und Wertpapieren (UCITSG);
• AIF under the Liechtenstein AIFM law – Gesetz über die Verwahrer alternativer Investments Funds (AIFMG); and
• Other Investment Undertakings (IU) under the Investment Undertaking Act which provides for four specific categories of IU: IU for single investors, IU for families, IU for interest groups and IU for affiliated groups.

The investment funds can be set up in the legal form of a:

• Corporation (“Investmentgesellschaft”);
• Collective trusteeship (“Kollektivtreuhänderschaft”).

In addition, AIFs and IUs can also be set up as:

• Contract form (“Investmentfonds”);
• Partnership (“AnlageKG”).

CSD link 

No CSD link as the Liechtenstein market is register only. 

Exchange Traded Funds (ETFs) 

Exchange-Traded Funds (ETFs) are not permitted and cannot be traded within the Liechtenstein market.

Operational arrangements

This section describes the operational arrangements of the Liechtenstein market: