PLC (Aktiengesellschaft or AG)
In Liechtenstein, the AG (Aktiengesellschaft, the equivalent of a PLC) together with the GmbH (Gesellschaft mit beschränkter Haftung, the equivalent of a limited company), seldom registered in Liechtenstein, is one of the types of company legally brought into line with the forms of company within the European Community. This has led to some stricter requirements than those applied to the establishment. On the other hand, the recognition of the type of company means the company is better warranted in international law. This form of company is taxed the same as all types of companies in Liechtenstein. The Aktiengesellschaft is suitable for international trade, as well for being an umbrella organisation for holding companies. Registration into the Liechtenstein Commercial Register mediates the notarisation of incorporation of the company.
The share capital must stand at 50,000 Swiss Francs and be fully paid in. The share capital can be registered shares or bearer shares. A minimum nominal value is not prescribed. The outlay of voting shares or other types of shares is possible. Bearer shares much be laid down in accordance with the requirements of the Persons and Companies Act.
PLCs/AGen are exclusively liable for their assets (the PLC’s share capital, reserves, earnings, etc). The body of the Aktiengesellschaft is the General Assembly of Shareholders, the Board of Directors and external auditors. The General Assembly is the supreme body. The General Assembly must convene at least once per year to approve the annual statement and to complete other legal and statutory duties. The Board of Directors governs and conducts the business of the company. It is mandatory for Aktiengesellschaften to be approved by the Liechtenstein government’s auditors. They audit the annual accounts of the company and submit a report to the General Assembly.
The Aktiengesellschaft is subject to the normal EU auditing standards. Annual audits of Aktiengesellschaften must be submitted to Liechtenstein’s Tax Administration, as well as the Commercial Register.