Due to the stunning scenery in places like Vaduz and winter vacation spots like Malbun, Liechtenstein is one of the most popular travel destinations in Europe. The nation’s National Tourism Agency is also working hard to market the nation as a top worldwide travel destination, which helps the nation draw tourists from all over the world each year. People who want to invest in Liechtenstein’s tourist sector can open travel offices, eateries, or even hotels there. Currently, one of the most significant economic sectors in the nation is tourism, which is getting very close to matching the financial sector in terms of yearly revenue. One of the main industries in Liechtenstein that employs a lot of people is tourism. In terms of percentage, tourism accounts for 4% of the GDP of the nation. In the upcoming years, it is anticipated that hotel, restaurant, and travel agency revenues would increase by 200 million CHF annually.
Process for registering a company in Liechtenstein
Investors in Liechtenstein who wish to launch a tourist firm must first register the business. The process of registration includes:
Select the kind of business ownership
Investors are free to select any form of business. The limited liability company is the most popular option.
Decide on a firm name
The Liechtenstein state registration of businesses must be consulted to authenticate the chosen name. The name must be original and must not include any geographical names or allusions to financial services like banking, insurance, or investing. The company name will conclude with the appropriate abbreviation depending on the kind of ownership.
Gather the application materials
When registering a corporation in Liechtenstein, a natural person must provide the following paperwork:
- Liechtenstein company registration application form
- copies of passports that have been notarized and apostilled
- a recent utility bill as evidence of the residence address
- police clearance from the home nation of the business founder
- potential company bylaws
- a bank statement attesting to the deposit of the registered capital
- samples of the signatures of the officials of the company
Create a business bank account
Before a business may be incorporated in Liechtenstein, the registered capital must be deposited, according to the country’s corporate laws. You’ll need to have a Liechtenstein bank account for it to be possible.
Place the registered capital in the bank
The entire registered capital must be deposited. The sums needed vary depending on the ownership structure of the business. 30,000 Swiss francs is required for a private limited company without shares. 50,000 francs Swiss is required for a company limited by shares. The registered capital may be deposited in either francs, euros, or dollars. In Liechtenstein, a company’s registered capital may also consist of real estate, intellectual property, or intangible assets. After the firm is registered with the State Register, the owner is free to utilize the registered capital as they like. In Liechtenstein, many kinds of shares may be issued if a public business is established.
Become a Liechtenstein IATA agent
The travel agency is required to have a resident manager by Company Law. The Liechtenstein travel agency must apply for its trading license with the Public Registry after these conditions have been satisfied. Following the establishment of a travel agency in Liechtenstein, the proprietor may additionally get an IATA (International Air Transport Association) agent license in addition to the commercial license. If they’ve reached agreements with aviation businesses, this authorization will let them sell tickets to passengers. A passenger agency contract between the airline companies and the Liechtenstein travel agency is required. For the travel agent to be an IATA agent, they also need to meet certain requirements relating to the tourism sector. Additionally, Liechtenstein businesses may consider recruiting specialists in the field.
Services provided by Liechtenstein-based travel operators
A travel agency or tour operator is permitted to provide the following services: selling vacation packages, and lodging packages, arranging transportation to and from the trip locations, selling airline tickets, and selling insurance packages for vacations. The travel agencies in Liechtenstein must also have insurance policies for the packages they offer, just like any other travel company throughout the world. Travel insurance, which can be purchased through the agency or independently, is a requirement for Liechtenstein travel agency clients.