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With thanks to the team of Kunstraum Engländerbau, Vaduz, and to artist Ursula Wolf of Atelier 62
What is a foundation and when does it make sense to set up a foundation in Liechtenstein?
A foundation is a legal entity created by a founder who determines its purpose and dedicates its assets to it. In this way, the assets become independent and acquire their own legal personality.
A foundation often allows assets to be used for a specific purpose in a more targeted manner than if the assets remained linked to the founder himself or his legal successors. This allows part of the assets to be reserved for special purposes, whether to provide for family members, pursue charitable goals, or a combination of both.
A Liechtenstein foundation allows family and business assets to be organised for the long term and preserved over several generations.