Liechtenstein Travel Guide: Its true, Liechtenstein makes a fabulous wine-and-cheese-hour trivia subject -- Did you know it was the sixth smallest country?... Its still governed by an iron-willed monarch who lives in a Gothic castle on a hill... Yes, it really is the worlds largest producer of dentures... But if youre visiting this pocket-sized principality solely for the cocktail-party bragging rights, keep the operation covert. This theme-park micronation takes its independence seriously and would shudder at the thought of being considered for novelty value alone. Liechtenstein would rather be remembered for its stunning natural beauty. The Principality of Liechtenstein was established within the Holy Roman Empire in 1719 and became a sovereign state in 1806. Until the end of World War I, it was closely tied to Austria, but the economic devastation caused by that conflict forced Liechtenstein to conclude a customs and monetary union with Switzerland. Since World War II (in which Liechtenstein remained neutral), the countrys low taxes have spurred outstanding economic growth. Shortcomings in banking regulatory oversight have resulted in concerns about the use of the financial institutions for money laundering and tax evasion. However, the days of bringing suitcases of money into banks for deposit without questions asked is over. Liechtensteiners are also very proud of the fact that their nation has never been physically involved in a battle or military confrontation with an enemy state and see their flag as a banner of peace. Despite its small size and limited natural resources, Liechtenstein has developed into a prosperous, highly industrialized, free-enterprise economy with a vital financial service sector and living standards on a par with the urban areas of its large European neighbors. The Liechtenstein economy is widely diversified with a large number of small businesses. Low business taxes--the maximum tax rate is 20%--and easy incorporation rules have induced a large number of holding or so-called letter box companies to establish nominal offices in Liechtenstein, providing 30% of state revenues. Enjoy Your Liechtenstein Travel Guide! https://youtube/watch?v=ljyJr5cYsww
Posted on: Thu, 08 May 2014 03:11:49 +0000
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