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This publication follows four principles: Family Heritage, Administration & Client Office, Growth, Protection. It provides an overview on the basics of a family office and private wealth management. This publication is permanently updated, tailored and optimized to the needs of the client. In practise the administration of a family office is similar to that of a business structure. Therefore the advice given applies to such structures as well. A family office should provide a data room for due diligence purposes and for random controls by external auditors. It is recommended that the family and business advisers take a proactive role and approach. They have to monitor the legal and financial environment of the family and the global economy on a regularly basis. Family and Business Office Services became a hot professional practice in recent years. Banks, Lawyers and Trust & Fiduciary Companies provide such services. Most of them with the hidden agenda of introducing a client binding program, which makes it difficult for the client to switch later to another organisation. One of the principle purposes of this publication is to offer our expertise in structuring a family office and how we would advise to establish and administer such a family office, with only one agenda in mind: how to protect the client.

Panama offers a highly flexible foundation law, rooted in the old Liechtenstein foundation law and influenced by Anglo-Saxon Trust law. This flexibility allows for the creation of various types of foundations, enhancing protection for founders, beneficiaries, creditors, and heirs. The Panamanian foundation charter can resemble a trust deed or the Liechtenstein foundation charter. Additionally, disputes, such as breaches of trust, can be resolved through arbitration, with arbitrators selected based on their expertise and language skills, either in Panama or abroad. This commentary provides a detailed article-by-article analysis of the legal provisions, referencing the Liechtenstein Foundation law for clarity. Despite the limited number of court decisions and scholarly works on the Panamanian foundation, this commentary stands out as a pioneering resource. It is important to note that the English text of the foundation law is not an official translation, and the author has added headings. Currently, Panama has more registered foundations than Liechtenstein, marking a significant success. The law encourages the establishment of new foundations and the redomiciliation of existing ones, particularly from Liechtenstein.

The foundations in Liechtenstein significantly contribute to its economic success, with around 40,000 foundations currently established, including 1,500 registered and 600 Public-Purpose foundations. Local judges, solicitors, and trustees possess extensive expertise in Foundation Law, ensuring legal certainty. This law has influenced jurisdictions like Panama and Austria. Liechtenstein's liberal Foundation Law encompasses various types, such as Public-Purpose, Religious, Pure Family, Joint, Corporate, and Staff Welfare foundations. Founders typically aim to dedicate their assets for specific private or public purposes, which may include managing family property or supporting socially disadvantaged individuals. Additionally, new legislation addressing money laundering and terrorism applies to foundations, enforcing strict rules monitored by authorities. The "know your customer" provision ensures that foundations cannot be misused for illegal activities. Overall, foundations serve as a means to protect assets and manage taxes effectively, allowing for structured and predictable asset management while mitigating negative external influences.

Born in 1955, artist Markus Wanger resides in Liechtenstein, where his extensive study tours inspire his vibrant paintings. His works reflect impressions from North America, South America, Asia, Brazil, and various European countries. Wanger primarily employs the 3-D-Structuralism technique, which he invented and developed, making it the first patented painting technique worldwide, with patents in Europe, the US, and Hong Kong. This innovative method creates an extraordinary depth effect, resulting in brilliant color compositions and a diverse range of structures, from graphic to abstract. The color schemes adhere to Goethe’s principles, evoking varied impressions in viewers. The interplay of color and structure transforms each painting into a dynamic experience, allowing the color to stand as a compositional element on its own. Wanger's extensive exhibition history, both nationally and internationally, along with his participation in competitions, highlights his artistic versatility. His accolades include a lifetime achievement award, numerous publications, and color prints, establishing him a discerning audience on the global stage.

Dr. iur. Markus H Wanger, Rechtsanwalt, FCIArb, TEP, MIoD - Born in 1955; Studies of Laws in Innsbruck, Austria. Doctor of Laws 1991. He is the founder of the international Commercial Law Firm WANGER in Vaduz, Liechtenstein with worldwide offices. Markus H Wanger is Fellow of the Chartered Institute of Arbitrators (FCIArb), London und member of major international professional organisations, e. g. for Arbitration. Markus Wanger was Judge at the High Administrative Court in Liechtenstein and is Member of the Board of Examination of Lawyers; he was lecturer for Liechtenstein Company and Tax law at the Hochschule für Technik und Wirtschaft HTW Chur, Schweiz und is Arbitrator at the Court of Arbitration for Sports, Lausanne, (CAS, TAS). Markus H Wanger is Chairman of WANGER Trust Company Ltd, an international Trust and Consulting Company, focusing on commercial and financial consulting and providing Family Office Services. Markus H Wanger is Editor of „Commentaries and Treatises on Liechtenstein and International Law“ and author of a wide range of professional publications and articles. Markus H Wanger is known and respected as lecturer at seminars. He is well regarded as a professional in the art world and has invented the 3-D-Structuralism - a new painting technique.

In a Nutshell - Without going into depth and offering an overview, this publication may be a source of first information on Liechtenstein Tax Law for taxpayers and international professionals likewise. This publication shall give first information on the Liechtenstein Tax Law. The Law goes back to the early 60ies and has never been really modernised. Since years a new law has been expected. It is announced that it will come in force on the 1st of January 2011. This new law will be of the outmost importance for Liechtenstein and may grant the surviving of Liechtenstein as a sovereign country. Only tax compliance and a competitive tax law can grant that. Offshore is no longer a basis for a country to survive. Nevertheless this publication is on the basis of the existing law and is still in force with favourable tax opportunities for so called offshore companies.