Private banking and AML in Liechtenstein

Alena Mach

23.09.2020 | 6 min read

Updated: 07.11.2026

Prior to conducting financial activities in Liechtenstein, it is crucial to become familiar with the country’s regulations related to business transparency and AML compliance. The goal of this article is to help you learn about the key AML obligations expected from managers of assets and private banks in Liechtenstein.

AML obligations

Fighting fraudulent activities in the financial sector is truly a priority for Liechtenstein. The country’s regulation obliges investment companies and banking institutions to follow this DD procedure:

Risks observation
Business profile creation
Identification and verification of clients’ identities
Identification and verification of identities of beneficial owners of assets.

In some cases regulators find it necessary to apply stricter DD obligations.

Liechtenstein's AML Framework in 2026

Today, the country's AML/CFT regime is still based on the Due Diligence Act (Sorgfaltspflichtgesetz, SPG) and the related Due Diligence Ordinance, both supervised by the Financial Market Authority (FMA). Because Liechtenstein is part of the EEA, the EU's new AML Regulation (AMLR) is expected to apply once it is incorporated into the EEA Agreement, matching the EU-wide application date of 10 July 2027. In parallel, the government adopted a consultation report on 3 March 2026 for a new Anti-Money Laundering Act (AMLA) that would transpose AMLD6 and replace the SPG; advisers currently expect the package to become fully applicable around mid-2027, and its draft measures reportedly include an annual review of high-risk clients and a planned CHF 10,000 threshold for occasional transactions, both still subject to the legislative process. According to the FMA's "Liechtenstein Financial Center 2026" figures, the country's 11 banks held consolidated client assets of CHF 538.0 billion at the end of 2025 (up 6.8%), of which CHF 239.5 billion were booked with banks in Liechtenstein, alongside 817 investment funds managing CHF 119.9 billion.

Required documents

To set up a bank account in Liechtenstein clients and beneficial owners are supposed to provide specific information to financial mediators like:

Date of birth
Location
Name
Citizenship.

In order to verify legal personalities, the following data must be collected:

Names of companies registered in Liechtenstein
Legal entity types
Dates of creation
Registered offices
Date and place of legal entities’ state registration
Extracts from commercial registers
Names of organizations that present a legal entity in communication with asset managers and banking institutions.

For asset managers and banking institutions registered in Liechtenstein, it is obligatory to gather the following records to establish a business profile:

Company’s economic status
The original source of assets kept in deposit accounts
Which contributors of assets are involved
What the usage of assets will be.

As for combating money laundering and financial crime in the banking sector, fraudulent activities are deemed a grave offense and are subject to law prosecution.

Legal responsibility

Liechtenstein’s Criminal Code prosecutes all law violators – clients and mediators who are suspected of being involved in trust abuse and fraud. Violations of AML obligations and perpetration of financial crimes are the reasons for legal liability.

Conclusion

Lately, many countries of European Unions started to tighten the AML requirement. Therefore, the best advice for newly-opened businesses in Liechtenstein, for example, is to get professional legal support and monitor AML regulation closely.

COREDO is your perfect choice for this job. Our specialists are highly experienced in the industry of financial services providers in many jurisdictions including Liechtenstein.

How COREDO can help: our team supports company formation in Liechtenstein and sets up ongoing AML support and outsourcing aligned with FMA due-diligence requirements.