What is the role of the Liechtenstein financial intermediary?
A financial intermediary is a person who provides a service to those holding investments in Liechtenstein. The intermediary is subject to supervision by Liechtenstein’s Financial Markets Authority. Under the taxpayer assistance and compliance programme introduced with the LDF, financial intermediaries in Liechtenstein are required to identify their clients who are, or who they think may be, resident in the UK. The intermediary must notify those clients of the compliance programme, and request the client to demonstrate to the intermediary either that they do not have any UK tax to pay, are UK tax compliant or are disclosing under the LDF or other process. If a client does not demonstrate one of these things, the intermediary in most cases must cease to provide services and close the account/ structure.
