Legal framework
For a fintech company, it is important to clarify whether the intended activity falls under the scope of the Liechtenstein anti-money laundering law (Due Diligence Act; SPG) and whether the activity may be subject to licensing, prospectus, or registration requirements.
Due diligence
Due diligence legislation serves to prevent money laundering and terrorist financing. Its scope applies not only to all licensed financial intermediaries – such as banks, asset managers, and insurers – but also to persons who are not subject to a financial market licensing requirement, such as real estate agents and traders in goods.
A complete list of all persons subject to due diligence can be found in Article 3 SPG.
Licensing or registration requirements
By their very name, fintech projects have a connection to the financial market. However, it is not always immediately clear whether they require registration or licensing from the FMA.
If you are unsure whether your business model falls under one of the special laws supervised by the FMA, it is advisable to submit a subordination enquiry to the FMA.
Further questions
The FMA, together with its team of experts at the Fintech Unit, is happy to respond to your enquiries at fintech[at]fma-li.li. The FMA supports and accompanies fintechs throughout the licensing process. It also actively engages with innovative financial service providers and encourages constructive dialogue. However, as a supervisory authority, the FMA cannot offer general legal advice or evaluate business models in terms of their market readiness, risks, or opportunities.