Initial Coin Offering
(Token Generation Event)
in Liechtenstein

Initial Coin Offering (Token Generation Event) in Liechtenstein as a method of crowdfunding in or through Liechtenstein does not require a license per se.

But an official authorization or approval by the competent authority (Liechtenstein Financial Market Authority, FMA) must be obtained. FMA’s fact sheets on ICO’s.

Moreover, the FMA, like the Swiss financial market authority FINMA in its ICO guidelines differentiates between utility tokens such as those granting access to software and security tokens which are similar to traditional securities. The latter are subject to financial markets statutes.

Utility Token Offering will not require a license.

Security Token Offering will most likely require publication of a prospectus and possibly dealer licenses will need to be obtained.

Before launching your ICO you should get an overview of the relevant FMA requirements
for your token, company structure, tax, migration, and other issues, and take these into account.

Licensing

– Preparation of your White Paper from A to Z / Review of your White Paper
– Review on 5 to 10 jurisdictions for your ICO / TGE / STO
– Advice on your formation and authorization of your token prior to application with the FMA
– Receipt of approval of your pre-ICO (private pre-sale, crowdfunding) / utility token offering by the FMA – Management of your Security Token Offering
– Preparation of your Terms & Conditions and internal policies

Taxation

– Advice on the ideal tax structure
– Receipt of a written statement on your individual ICO taxation from local tax authorities (in the absence of a law on ICO and token taxation, a written statement on the taxation which would be applicable to your structure can be obtained from tax authorities)