Russian Economic and Financial ForumZurich, 31.01.2005
Short introduction to Liechtenstein
Comparison Liechtenstein - Russia
Total area: 160 km2 17’075 400 km2
(fourth smallest state in Europe) (world’s largest state)
Capital: Vaduz Moscow
Currency: Swiss franc Rouble
Official language: High German Russian
Population: 34’294 144’752’000
Population density: 215 inhabitants per km2 8.5 inhabitants per km2
Gross domestic product: $ 190’000 pro capita $ 1750 pro capita
History (17th to 19th Century)
1712…the County of Vaduz
1699Prince Johann Adam Andreas of Liechtenstein purchases the Lordship of Schellenberg and…
1719Vaduz and Schellen-berg elevated to the status of “Imperial Principality of Liechtenstein”
1806Principality gains sovereignty by becoming a member of the Rhine Confederation
1852Customs treaty with Austria-Hungary
History (20th Century)
1978Membership of the European Council
1924Customs treaty with Switzerland, introduction of the Swiss franc as the official currency
1921New Constitution (largely unchanged to this day) comes into force
1997Archdiocese of Vaduz is established
1990Liechtenstein becomes the 160th member of the United Nations
1991Membership ofEFTA
1995Membership of EEA
System of State and Government
According to Article 2 of the Constitution, “the Principality is a
constitutional hereditary monarchy on a democratic and
parliamentary basis; the power of the State is inherent in and issues
from the reigning Prince and the people”.
Population and employmentsince 1950
0
5'000
10'000
15'000
20'000
25'000
30'000
35'000
1950 1960 1970 1980 1990 2000 2003
Resident population Commuters Total employed
700
6‘338
13‘757
33‘525
28‘793
12‘908
Breakdown of Persons Employed (by Economic Sector)Forestry and agriculture 1%
Industry and goods production 45%
Financial services 25%
General services 29%
Industry in Liechtenstein
Out of a total working population of 29’055,
45% (13’073) are employed in industry and
commerce
Key export countries:
USA, Switzerland, Germany, France, Italy,
Hong Kong, Japan, Spain
The industrial exports raised from CHF 15
million (1950) to CHF 4646 million (2003)
within 50 years
Liechtenstein-based industrial companies
employ 26,873 people at 195 foreign
branchesThyssenKrupp Presta
Liechtenstein’s Business Advantages political continuity and stability
liberal economic policies
efficient banking system
strict banking secrecy
economic, customs and monetary union with Switzerland
member of the European Economic Area (EEA)
free movement of services within the EU
special Liechtenstein company structures
well-educated, skilled workforce
LGT Group
LGT Group: Privately owned company with capital strength
31.12.2003
Group profit (in CHF m) 79,7
Balance sheet key figures (in CHF bn)
Balance sheet total 14,1
Equity capital 1,8
Assets under administration (in CHF bn)
Client assets under administration 48,5
of which assets under management 20,4
Total staff 1‘241
Standard & Poor‘s / Moody‘s Ratingsfor LGT Bank in Liechtenstein AG
AA- / Aa3
EuropeEurope
Liechtenstein: Vaduz
Switzerland: Basel, Bern, Chur, Davos, Geneva, Lausanne, Lugano, Pfäffikon, Zurich
Germany: Berlin, Cologne, Frankfurt, Hamburg, Munich, Stuttgart
Luxembourg
Ireland: Dublin
Channel Islands: Jersey
International network
AsiaAsia
Hong Kong
Japan: Tokyo
Singapore
Malaysia: Labuan
AmericasAmericas
Uruguay: Montevideo
USA: New York
Cayman Islands
British Virgin Islands
Vaduz
Alignment of interests
Operational business Private banking Asset management Alternative investments Trust services
Financial investor Princely Portfolio CHF 1.8 bn. in LGT
„Global Investable Markets GIM“
Co-investment for clients
Focus on core competencies
Exploitation of global Investment possibilities
LGT Group
LGT - The wealth management experts of the Princely House of Liechtenstein
Pete
r Paul R
ub
en
s