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Liechtenstein: Incorporation Of A Company With Crypto Currencies

For the incorporation of a company in Liechtenstein, the
statutory capital must either be paid into a blocked account for
the incorporation at a bank in the EU/EEA/Switzerland or a
contribution in kind must be made.

In Liechtenstein, the contribution of the statutory capital can
also be made in a crypto currency.

Which crypto currencies can I use to make the contribution in
kind?

In principle, the Office of Justice considers the crypto
currencies listed under https://coinmarketcap.com as permissible
contributions in kind. According to our knowledge, the Office of
Justice permitted Bitcoin and Ethereum as contributions in
kind.

In the event that the statutory capital of a company is to be
provided with another crypto currency than Bitcoin or Ethereum, it
is recommended to coordinate this in advance with the Office of
Justice.

What is to be considered with the incorporation of a company by
means of crypto currencies?

When paying in the statutory capital by means of
crypto-currencies, the regulations on contributions in kind must be
observed:

(a) Non-cash contribution agreement

For the incorporation of a company with a contribution in kind,
a written non-cash contribution agreement is needed, which must
contain the following items related to crypto currencies:

• a clear description of the crypto-currency to be
  contributed;
• the respective abbreviation of the crypto currency to be
  contributed, such as Bitcoin (BTC), Bitcoin Cash (BCH or BCC) or
  Bitcoin Gold (BTG); and
• the value of the contribution in kind of the crypto-currency to
  be contributed (this must correspond to at least the value of the
  statutory share capital both at the time of public certification
  and at the time of entry in the Commercial Register).

(b) Expert opinion not necessary

In general, an expert report is required for the valuation of a
contribution in kind.

Since a crypto currency also has elements of contribution in
cash, no expert report is required here. The background is that
crypto currencies have an objective market price, since the
reference prices are published daily on the website of the Federal
Tax Administration of Switzerland at https://www.ictax.admin.ch/extern/de.html#/ratelist/2020.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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