Liechtenstein: Doing business and staying in touch

Doing Business in Liechtenstein

Liechtenstein has a traditional and formal business culture. Business visitors should schedule appointments in advance, be punctual, stand when introduced to someone, greet with a firm handshake, exchange business cards upon meeting, and address contacts with their personal title and surname.

For business meetings, expect a strict agenda, attention to detail, and for everything to be recorded in writing. You should avoid asking your hosts personal questions. Formal business attire is expected and visitors should expect a strict hierarchy with decisions made only at a senior level. Any agreements made are expected to be followed by the letter.

Times to avoid business visits include the Easter holiday, the second half of July and August, and the week after Christmas.

Although there is no conference association in Liechtenstein, a number of hotels have conference facilities and can organise conventions: Löwen in Vaduz, Schaanerhof in Schaan, Meierhof in Triesen, Kulm in Triesenberg, Gorfion and Malbuner-Hof in Malbun/Triesenberg.

Office Hours

Typically Mon-Fri 0800-1800.

Economy

The population of Liechtenstein is amongst the world's most prosperous. Financial services are the main component of the economy. Dairy and arable farming account for the bulk of agriculture. The manufacturing industry processes and recycles metals, producing machine tools and precision instruments.

The country has vital economic links with Switzerland, based upon a customs union, and uses the Swiss Franc as currency. Liechtenstein joined the European Free Trade Association (EFTA) in 1991 and the European Economic Area (EEA) in 1995. The unemployment rate was a mere 1.5% in 2008.

GDP

US$4.8 billion (2009).

Main exports

Specialist machinery, dental products, electronics, vehicle parts and hardware

Main imports

Agricultural products, raw materials, energy products, machinery, and metal goods

Main trading partners

EU and the USA

Keeping in Touch in Liechtenstein

Telephone

Swisscom payphones are widely available, where payment can be made by card and sometimes cash.

Mobile Phone

Handsets can be hired at the Telecom shops in Vaduz and Eschen. Roaming agreements exist with most international mobile phone operators. Coverage is good.

Internet

Internet access is available in phone booths operated by Swisscom. Charges are payable by phonecard or credit card. Public access is also available at the Telecom shops in Vaduz and Eschen.

Media

Liechtenstein's media scene is diminutive. The newspaper circulation figures barely hit 10,000.

Post

Post to European destinations takes four to seven days, although can be delivered in one to two days if posted with the urgent service.

Mon-Fri 0730-1200 and 1345-1830, Sat 0800-1100, (Mon-Fri 0745-1800, Sat 0800-1100 in Vaduz).