Dissolution of a foundation in Liechtenstein

The Foundation in Liechtenstein is dissolved by law in the event of bankruptcy or a court order of dissolution or a resolution of the Board of Trustees.

The dissolution resolution is followed by the liquidation of the foundation’s assets and distribution to the ultimate beneficiaries. This is followed by cancellation, for which an official confirmation is issued by the Office of Justice.

Alternatively, the private-benefit foundation in Liechtenstein can also be converted into a Liechtenstein establishment or trust company or relocated abroad.

Note: Occasionally, the transfer of the registered office abroad is preferable to dissolution and liquidation in Liechtenstein.

Legal comparison of dissolution and termination in DE, CH

DE: In Germany, the supervisory authority alone is responsible for dissolving the foundation. The founder cannot designate himself as the beneficiary.
CH: In Switzerland, foundations are dissolved by the competent federal or cantonal authorities upon application or ex officio. If so stipulated in the foundation deed, the founder may be the beneficiary. Foundations are part of the Swiss Merger Act, whereby foundations may only merge with other foundations.

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