Banks in Liechtenstein: Who They Are, What the Law Requires and How Deposits Are Protected
The FMA list counted 11 banks in Liechtenstein at 31 December 2024. The FMA licenses and supervises them. The law sets initial capital of at least EUR 10 million, bans shell banks and requires a deposit guarantee scheme covering CHF 100,000 per depositor per bank. Each bank decides on every client itself.
Short answer
This guide describes the Liechtenstein banking sector as the statutes and the supervisor describe it: how many banks there are, what the Banking Act requires of them, how deposits are covered and what a bank asks of a corporate client. It does not rank banks and does not open accounts. For readers planning a Liechtenstein company set up and administered from Vaduz, the bank appears in the register filing of an AG or GmbH through the certificate on the paid-in capital, covered in the section on bank certificates.
How many banks are there in Liechtenstein?
The FMA list of market participants counted 11 banks at 31 December 2024. The same list shows 3 e-money institutions and 1 payment institution. The history is in the table: 13 banks in 2020, 12 in 2021 and 2022, 11 in 2023. The list is published by the FMA, which licenses the banks. The Bankers Association member page shows changes after that date, described in the next section, so the count is a dated figure and not a live one.
Number of banks in the FMA list of market participants, 2020 to 31 December 2024
| year | banks in the FMA list |
|---|---|
| 2020 | 13 |
| 2021 | 12 |
| 2022 | 12 |
| 2023 | 11 |
| 31 December 2024 | 11 |
| Beside the banks, 31 December 2024 | 3 e-money institutions, 1 payment institution |
Source: FMA, list of market participants (Liechtenstein Financial Market Authority), list at 31 December 2024.
Which banks operate in Liechtenstein?
The Liechtenstein Bankers Association (Bankenverband) names twelve member banks on its member page, accessed on 31 October 2026. The association lists them in the table with the date it prints for each licence. Readers who search for a Vaduz bank reach the same list here. The association marks Banque Havilland (Liechtenstein) as in voluntary liquidation, without a date. It prints a licence date of 18 February 2026 for Celsion Bank. The page is an association page, not a register, and may lag the FMA count. This list is informational: the page does not choose a bank for the reader and does not rank any.
Member banks on the Bankers Association page and the licence date it prints
| bank | licence held since (as printed) |
|---|---|
| Bank Frick | 10.11.1998 |
| Banking Circle (Liechtenstein) | 31.07.2024 |
| Banque Havilland (Liechtenstein), marked as in voluntary liquidation | 14.07.1998 |
| BENDURA BANK | 14.07.1998 |
| Celsion Bank | 18.02.2026 |
| EFG Bank von Ernst | 01.12.1998 |
| Kaiser Partner Privatbank | 26.05.1999 |
| LGT Bank | 24.11.1920 |
| Liechtensteinische Landesbank | 05.12.1861 |
| Neue Bank | 15.10.1991 |
| SIGMA Bank | 11.11.1997 |
| VP Bank | 04.04.1956 |
Source: Liechtenstein Bankers Association, member banks page, accessed 31 October 2026. An association page, not a register.
Who licenses and supervises the banks?
The Finanzmarktaufsicht Liechtenstein (FMA, Financial Market Authority) licenses and supervises banks and publishes the list of market participants. The statutory deposit guarantee scheme is the foundation Einlagensicherungs- und Anlegerentschädigungs-Stiftung SV (EAS). The Bankers Association is an industry body, not a regulator. The Office of Justice (Amt für Justiz) keeps the beneficial owner register, and banks may receive register data for due diligence; see the beneficial owner register guide. External access to that register resumed on 5 October 2026 on a limited basis after the cyberattack of 30 July 2026. The secrecy duty of a bank does not apply to the Stabsstelle FIU, the financial intelligence unit.
Authorities and instruments of the Liechtenstein banking sector
| authority or instrument | role |
|---|---|
| FMA | Licenses and supervises banks; publishes the list of market participants |
| EAS | Statutory deposit guarantee scheme (EAG Art. 4(1)) |
| Tax Administration | Passes account data on under the AIA Act (Art. 14) |
| Banking Act (BankG), LGBl 2025 Nr. 085 | Licence, capital, shell-bank ban, scheme membership, secrecy |
| Deposit Guarantee Act (EAG), LGBl 2019 Nr. 103 | Covered deposits, payout, exclusions |
| Due Diligence Act (SPG), LGBl 2009 Nr. 47 | Identification of the client and the beneficial owner |
| Beneficial Owner Register Act (VwbPG), LGBl 2021 Nr. 33 | Disclosure of register data to banks (Art. 15) |
| AIA Act, LGBl 2015 Nr. 355 | Automatic exchange of financial account information |
Source: the five acts named in the table; FMA list of market participants.
What capital does a bank need, and are shell banks allowed?
A bank needs an FMA licence before it starts business (BankG Art. 16(1)). The FMA may not refuse an application on the ground of market need (Art. 25(8)). The purpose of the act is the protection of creditors and investors of banks and the stability of the financial system (Art. 1(2)). A business that needs its own FMA approval, which is not a bank licence, can read about the FMA approval a regulated business needs in Liechtenstein.
Initial capital is at least EUR 10 million or the equivalent in CHF or USD (Art. 18(1)). In justified cases the FMA may prescribe a different amount, never below EUR 5 million for a bank (Art. 18(3)). Shell banks are banned (Art. 10). These are the article numbers of the Banking Act of LGBl 2025 Nr. 085.
Are deposits in a Liechtenstein bank protected?
A bank that takes deposits must belong to a guarantee scheme (BankG Art. 11; Deposit Guarantee Act, EAG, Art. 6(1)). If a bank belongs to no scheme, the FMA must withdraw its licence (EAG Art. 6(3)). The statutory scheme is the EAS foundation (Art. 4(1)). Cover is CHF 100,000 per depositor per member bank, or the equivalent in another currency (Art. 2(1)(13)). The figure is in Swiss francs, not euro, and it is counted bank by bank. A band above that, up to CHF 750,000, counts as covered under Art. 9 when conditions are met; this guide does not state the conditions.
Deposit protection in Liechtenstein: what the statute says
| question | what the statute says | article |
|---|---|---|
| Who must belong to a scheme? | A bank that takes deposits | BankG Art. 11; EAG Art. 6(1) |
| Which scheme? | The EAS foundation | EAG Art. 4(1) |
| How much is covered? | CHF 100,000 per depositor per member bank, or the equivalent in another currency | EAG Art. 2(1)(13) |
| Is there a higher band? | Deposits above CHF 100,000 up to CHF 750,000 count as covered when conditions are met | EAG Art. 9 |
| How fast is the payout? | Within seven working days after a payout event; postponement possible in the cases of Art. 13(2) | EAG Art. 12(1), 13(2) |
Source: Deposit Guarantee Act (EAG) and Banking Act (BankG), articles as named in the table.
Cover is counted bank by bank
One depositor
CHF 100,000 cover per depositor per member bank
Bank A
Bank B
How fast does the deposit guarantee pay out, and when does cover fail?
The scheme must make covered deposits available within seven working days after a payout event (Sicherungsfall, EAG Art. 12(1)), unless it postpones the refund in a case listed in Art. 13(2); the Art. 9 band is paid only on application (Art. 12(4)). The depositor must have given the scheme an account for the transfer, except in a hardship case. The term is the statutory deadline and says nothing about any actual payout.
Cover can fail on identification. A deposit whose holder was never identified under SPG Art. 7(1) is excluded from the refund where it is no longer available (EAG Art. 8(1)(s)). Other exclusions in Art. 8(1) include deposits of banks, insurers and public bodies. The exclusion ties deposit cover to the identification duty set out under the onboarding steps below.
Does your business itself need an FMA authorisation?
Some businesses need their own FMA approval, which is a different matter from a bank account.
Is Liechtenstein banking secrecy still in force?
What the secrecy duty still says
The Banking Act states the secrecy duty without limit in time (BankG Art. 12(1)). The legal duties to testify and to inform courts, criminal authorities, the FMA, recognised auditors and the FIU stay reserved (Art. 12(2)(a)). Art. 12(2)(b) to (d) also reserve cooperation with the FIU and other supervisors, disclosure to the deposit guarantee scheme and disclosure of the identity of shareholders under the Persons and Companies Act.
What sits beside it
The AIA Act implements automatic exchange of financial account information with partner states on the OECD common reporting standard. It has been in force since 1 January 2016 (Art. 38). The Tax Administration passes the data on in an automated procedure within the deadlines of the applicable agreement (Art. 14(1)). It is not obliged to pass information on where transmission would conflict with Liechtenstein public policy (Art. 14(2)), or where the foreign authority cannot supply comparable information on Liechtenstein reportable accounts (Art. 14(3)). The secrecy duty and the reporting duty therefore stand side by side, and neither cancels the other. For the wider question, read what remains of the tax haven image of Liechtenstein.
What does a Liechtenstein bank ask of a new corporate client?
The flow below is informational and uses the statutes' terms. The bank decides, and this page states no day count and no minimum deposit.
Due diligence entity
Banks holding a licence under the Banking Act are due diligence entities (SPG Art. 3(1)(a)).
Contracting party
The bank identifies the contracting party and checks identity by documents with evidentiary value (Art. 6(1)).
Beneficial owner
The bank identifies and checks the beneficial owner (Art. 7(1), (2)). For a legal entity that must report its beneficial owners, it obtains a register extract when the relationship starts (Art. 7(3a)). The Beneficial Owner Register Act provides for disclosure of register data to banks (VwbPG Art. 15).
Business profile
It covers the origin of the assets, the purpose and the intended nature of the relationship (Art. 8(1)).
Shell banks
Banks keep no correspondent relationship with shell banks (Art. 13(1)).
Capital of a new company
For a new AG formed by simultaneous formation or a new GmbH the capital is paid in and the bank certificate goes into the register filing (PGR Art. 122(2); HRV Art. 56(1)(c), 71(1)(c)). The client pays in, the bank issues the certificate and the licensed trustee files.
Our role
We explain the sector, collect the client's documents for a formation file and coordinate with the licensed partner. We do not open the account, introduce a client to a bank, guarantee an account or choose the bank.
Seven steps, with the actor of each
Due diligence entity
Who acts: Bank
Identifies the contracting party
Who acts: Bank
Identifies the beneficial owner
Who acts: Bank
Business profile
Who acts: Bank
No shell-bank correspondents
Who acts: Bank
Payment in and bank certificate
Licensed trustee files
Who acts: Client, bank, licensed trustee
Prepares and coordinates, does not open accounts
Who acts: VCS
The bank decides
Why does a new AG or GmbH need a bank certificate?
What the law requires
Minimum capital and minimum assets must be fully paid in (PGR Art. 122(2)). The AG filing on simultaneous formation needs the bank certificate on the payment (HRV Art. 56(1)(c)). The GmbH filing needs the bank certificate on the payment of the share capital (HRV Art. 71(1)(c), or Art. 71a(b) on the simplified route). The licensed trustee makes the filing (TrHG Art. 2(a)); for what the register does with it, read the commercial register guide.
What is practice, not law
Using an advance certificate (Vorabbescheinigung) to open the capital-deposit account is practice. No statute was found that sets its purpose for banks. We prepare the formation documents and coordinate; the bank decides whether to open the account.
What does the law not set, and what should a reader not assume?
No statute used for this guide sets a minimum deposit, an account-opening time or a rule on accepting non-residents, so this page prints none. Each bank decides on each client within the duties of the Due Diligence Act (SPG Art. 6(1), 7(1), 8(1)). A minimum deposit that circulates on provider pages is not a statutory figure, and any minimum is a bank's own commercial condition that this guide has not verified. The same applies to the question of a US citizen: the statutes list duties, not acceptance. If your own business is regulated, the FMA approval a regulated business needs in Liechtenstein explains what the FMA approves. That page concerns licences, not accounts.
Not in the law: a minimum deposit, an opening time or a rule on non-residents. Ask the bank; do not rely on a figure from a provider page.
Our role
We explain the sector in statutory terms, collect the formation documents and coordinate with the licensed partner who files. The bank decides on each client. We do not open accounts and we do not introduce clients to banks.
Sources
- Banking Act (BankG): licence duty, capital, shell-bank ban, scheme membership, secrecy
- Deposit Guarantee Act (EAG): covered deposits, payout, exclusions
- Due Diligence Act (SPG): identification, beneficial owner, business profile
- AIA Act: automatic exchange of financial account information
- Commercial Register Ordinance (HRV): bank certificate in the AG and GmbH filings
- Persons and Companies Act (PGR): Art. 122(2), capital fully paid in
- Beneficial Owner Register Act (VwbPG): Art. 15, disclosure of register data to banks
- Trustee Act (TrHG): Art. 2(a), formation for third parties
- FMA list of market participants: 11 banks at 31 December 2024
- Liechtenstein Bankers Association, member banks: member list and licence dates
- Register of beneficial owners, national administration: state of access
The association page is a member list, not a register; the FMA count is at 31 December 2024.
Frequently asked questions about banks in Liechtenstein
Is Liechtenstein banking secrecy still in force?
Yes. The Banking Act states that the secrecy duty applies without limit in time. It is reserved for the duties to testify and inform courts, criminal authorities, the FMA, auditors and the FIU, and it exists beside automatic exchange of account data under the AIA Act.
Is Liechtenstein a tax haven?
Liechtenstein implements automatic exchange of financial account information on the OECD standard (AIA Act, in force 1 January 2016), so account data is passed on to partner states under that act. The tax-haven guide covers the wider question in full.
Are my deposits protected in a Liechtenstein bank, and up to what amount?
A bank that takes deposits must belong to a guarantee scheme. Covered deposits are CHF 100,000 per depositor per member bank. A band above that, up to CHF 750,000, counts as covered under Art. 9 of the Deposit Guarantee Act; this guide does not state its conditions.
Is the deposit guarantee in euro or in Swiss francs?
The statute sets it in Swiss francs: CHF 100,000, or the equivalent in a foreign currency. Pages that print EUR 100,000 do not follow the act. The cover is per depositor and per member bank, so it is counted bank by bank.
How fast does the deposit guarantee pay out?
The scheme must make covered deposits available within seven working days after a payout event, unless it postpones the refund in a case listed in Art. 13(2). The depositor gives the scheme an account for the transfer, except in a hardship case. This is the statutory deadline, not a statement about any actual payout in a particular case.
Why can a deposit lose cover if the holder was never identified?
The Deposit Guarantee Act excludes a deposit whose holder was never identified under Art. 7(1) of the Due Diligence Act, where the deposit is no longer available. The exclusion ties deposit cover to the identification duty the bank applies at the start.
Can a US citizen open a bank account in Liechtenstein?
The statutes list the duties a bank must meet, not who it accepts. Each bank decides on each client within those duties, so no yes or no can be given here. VCS does not open accounts or introduce clients to banks.
Can a non-resident bank in Liechtenstein?
No source used for this guide sets a rule on non-resident acceptance, so none is stated. A bank identifies the contracting party and the beneficial owner and builds a business profile for every client, and the decision stays with the bank.
Is a minimum deposit required by law?
No minimum deposit was found in the statutes used for this guide, and none is stated. A figure that circulates on provider pages is not a statutory one. Any minimum is a bank's own commercial condition, which this guide does not verify.
How many banks are there in Liechtenstein, and who supervises them?
The FMA list of market participants counted 11 banks at 31 December 2024, against 13 in 2020, 12 in 2021 and 2022, and 11 in 2023. The FMA grants the licence and supervises the banks. The association member page may show later changes.
Which banks operate in Liechtenstein?
The Bankers Association member page lists the member banks with the date each licence has been held since. It is an association page and not a register, so it may lag. One bank is marked there as in voluntary liquidation.
What does a Liechtenstein bank ask of a new corporate client?
In statutory terms: the identity of the contracting party, checked by documents with evidentiary value, the identity of the beneficial owner, and a business profile covering the origin of the assets and the purpose and nature of the relationship. The bank decides.
Does a bank need to know the beneficial owner of a company?
Yes. Under the Due Diligence Act the bank identifies and checks the beneficial owner and, for a reporting legal entity, obtains a register extract when the relationship starts. The Beneficial Owner Register Act provides for disclosure of register data to banks.
Why does a new AG or GmbH need a bank certificate?
Capital must be paid in, and the register filing carries a certificate on that payment: the bank certificate under Art. 56(1)(c) of the Commercial Register Ordinance for an AG formed by simultaneous formation and under Art. 71(1)(c) for the GmbH, the payment office's certificate under Art. 55(1)(f) for successive formation. The licensed trustee makes the filing, not the bank.
Can a new bank be licensed, and is there a market-need test?
A bank needs an FMA licence and the initial capital is at least EUR 10 million; in justified cases the FMA may set another amount, never below EUR 5 million. In examining the application the FMA may not rely on the economic needs of the market.