Liechtenstein records growth in charitable foundations

12 June 2024 13:28

Liechtenstein

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Schaan - The number of charitable foundations in Liechtenstein rose to 1,391 as of the end of 2023, bringing their total share of the foundation sector to almost 15 per cent and almost reaching the record level achieved in 2018.

“Upward trend in new foundations continues”: this is the headline of a brief statement published by the Schaan-based Association of Liechtenstein Charitable Foundations and Trusts (VLGST) focusing on the development of charitable foundations in the country last year. According to figures released by the Liechtenstein Foundation Supervisory Authority, a total of 1,391 charitable foundations were operating in Liechtenstein at the end of 2023. The Supervisory Authority reported 1,375 charitable foundations at the end of 2022.

There were a total of 9,447 registered, public-law and non-registered foundations in the reporting year, which means the 1,391 charitable foundations account for 14.7 per cent of the overall Liechtenstein foundation sector. The year-on-year increase “demonstrates the good conditions that Liechtenstein’s foundation sector offers for the establishment and management of charitable foundations,” writes the VLGST in its current newsletter. “Flexibility and structuring freedom are hallmarks of the Liechtenstein foundation sector, and are reflected in the variety of charitable foundations and their activities.”

The Liechtenstein government also highlights the growth in charitable foundations in its latest statement of accounts. After reaching a record number of 1,392 in 2018, they fell steadily in subsequent years until 2022. A renewed upward trend was first observed in 2022, and the 2023 figure is close to the 2018 record, according to page 442 of the report. A year-on-year rise in the number of dissolutions was more than offset by an increase in the number of new foundations in the reporting year. ce/hs

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