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With thanks to the team of Kunstraum Engländerbau, Vaduz, and to artist Ursula Wolf of Atelier 62
What factors need to be considered when deciding to establish a foundation in Liechtenstein?
It is particularly important that future founders are aware that foundations are an instrument of intergenerational succession planning. Because the founder relinquishes ownership of their assets through the act of dedication, a foundation that has been established cannot be changed at will, for example.
The establishment of the foundation fixes the founder’s will; changes are only possible in very specific cases. The establishment of a foundation therefore needs to be carefully considered. A foundation is a cross-border instrument. This means that the jurisdictions in which the founder and beneficiaries live must also be taken into account.