Walser Rechtsanwälte AG

Firm Overview:
Walser Attorneys at Law Ltd. is an international law firm advising both private and institutional clients in the various areas of Liechtenstein law and representing them before courts and authorities. The firm has a focus on corporate, foundation and trust law, commercial, corporate and M&A, banking and finance, as well as resolving disputes for clients, both in and out of court.

The firm advises and represents private clients and companies, foundations and trusts from Liechtenstein and abroad. Institutional clients include banks, asset managers and trust service providers as well as public authorities.

Expertise: 

Foundations and trusts:
It is essential to obtain expert legal advice on setting up, administering and implementing foundations and trusts. As specialists with extensive experience in this field, the firm can assist founders and trustees with succession planning, the designation of beneficiaries, organisational structures and foundation governance. It can also assist with the drafting of charters, by-laws, regulations and trust deeds, asset protection and the investment and distribution of assets.

Furthermore, the firm can advise on the day-to-day administration of foundations and trusts and the enforcement of beneficial interests. Where required, it can provide advice and advocacy in contentious and non-contentious matters, including rights to information, supervisory measures (e.g. dismissing members of governing bodies, reversing resolutions, court orders, special audits), requests for distribution, the liability of governing bodies, challenges by creditors or with respect to obligatory shares of an estate, liquidation, appointing deputies, etc. The firm also prepares legal opinions on these issues on a regular basis. In addition, it can provide access to a network of foundation board members, trustees, protectors, asset managers, banks and other partners to assist clients in setting up and managing their particular asset structure.

General corporate law:
The firm has a long track record of advising clients on all aspects of national and international corporate law. Clients can therefore leverage its expertise on setting up and managing legal entities (associations, public limited companies, partnerships limited by shares, limited liability companies, cooperatives, establishments and foundations), partnerships (simple partnerships, general partnerships, limited partnerships), trusts and trust enterprises (Trust reg.).

The firm can draft the necessary articles of association, deeds or charters, by-laws, shareholders’ agreements, partnership agreements and trust instruments as well as any minutes or resolutions clients may need. In addition, the firm can assist with the full spectrum of matters ranging from management, administration and organisation through to conducting board meetings and general meetings, restructuring and, ultimately, dissolution (liquidation and insolvency).

The firm produces legal opinions on aspects of corporate law, suggest approaches to structuring and succession and represents clients in relation to corporate matters before the courts and public authorities.

Commercial law and contracts:
Company management requires the utmost care, raising a whole host of legal issues that impact on day-to-day-operations. Clients can count on the firm to provide sound advice and act on clients behalf. The firms' services include drafting, negotiating and reviewing contracts, terms and conditions of business, commercial agreements, supply agreements, joint ventures and shareholders’ agreements as well as licence, franchise and distribution agreements.

The firm also offers support and guidance across the full range of general contract, employment and civil liability matters as well as landlord and tenant law and social-security issues. Furthermore, the firm can take steps to enforce clients' rights under contract or in a commercial context both in court and in dealings with the public authorities.

Mergers and acquisitions:
It is crucial to obtain specialist professional guidance on national and international mergers, whether through consolidation or absorption, spin-offs, conversions, company acquisitions or sales and other types of restructuring. Clients can rely on us to provide the very best advice on all aspects of business development.

The firm's team will conduct due diligence on clients' behalf, draw up the necessary plans and reports, prepare for general meetings, prepare resolutions and deal with registrations in the Commercial Register. The firm will draft the necessary agreements, represent you in negotiations with counterparties, obtain all necessary licences from public authorities and handle registrations.

Banking, insurance and asset management:
It is crucial to undertake a thorough assessment of the legal implications of setting up banks, insurance companies, investment undertakings, payment service providers, asset management companies or other financial intermediaries. Whether clients need advice on incorporation, mergers or acquisitions of other financial-market participants, the firm can guide them through all stages of the process.

As part of its service, the firm can draft the necessary contracts and other documentation, terms and conditions of business, rules and regulations and internal guidelines. The firm can also assist with the organisation and management of day-to-day operations and advise on all aspects of contract and employment law, due diligence, anti-money laundering, corporate governance and compliance in general. Moreover, the firm can prepare legal opinions or give second opinions, act for you in dealings with the Liechtenstein authorities (FMA, FIU, etc.) and represent clients in court.

Financing:
Certain financial transactions involve complex structures and should be approached with particular care, especially in a climate of economic and legal change. As part of its service, the firm can provide support and guidance in relation to financial transactions. Furthermore, as experts in financial law, it can advise on national and international financial transactions, structured financing and secured lending in relation to banks, financial institutions and companies.

The firm’s experts can draft the necessary agreements, review existing agreements and provide legal opinions on transactions, transaction settlement and security. Besides, the firm can act as escrow agent, assessing whether the requirements for a transaction are met and transferring the funds to the target party once the criteria have been satisfied.

Litigation:
The firm’s team has particular expertise in resolving disputes for clients, both in and out of court. Its expert team will be happy to take instructions, for example, in relation to civil litigation matters or non-contentious proceedings (supervision procedures under corporate law, probate proceedings, etc.) as well as arbitration.

The firm also prepares legal opinions on civil litigation and arbitration matters, assess the prospects of success before embarking on litigation and takes on the role of deputy in relation to entities.

Arbitration:
The firm’s arbitration service is built on solid experience in resolving complex disputes. In instructing the firm to act, clients can have full confidence in the ability of its team to represent them effectively. The firm can draft arbitration agreements and arbitration clauses in contracts and articles of association, as well as advise and represent parties in arbitration proceedings and related proceedings before national courts (raising objections, judicial assistance in relation to arbitration or proceedings to set aside an arbitration award, etc.).

Furthermore, the firm can safeguard client’s rights in the recognition and enforcement of foreign arbitration awards in Liechtenstein and prepare legal opinions on Liechtenstein arbitration issues. In arbitration proceedings, you can also rely on its expert’s extensive experience acting as arbitrator.

Private clients:
The firm works closely with its private clients as a trusted partner, advising on all issues affecting personal and business assets. Its comprehensive services includes asset structuring, setting up companies, partnerships, foundations and trusts, and protecting assets in relation to creditors and obligatory shares of estates. Its experts have particular expertise in estate planning, advising on wills, gifts, agreements as to succession and marital agreements as well as succession planning for businesses.

Above all, clients will have the benefit of ongoing advice and assistance covering the whole spectrum of wealth management. The firm will also ensure that client’s interests are safeguarded in disputes before national courts, arbitration tribunals or other public authorities. They can turn to the firm for help in obtaining Liechtenstein residency and work permits, dealing with residency and establishment issues, or negotiating flat-rate taxation deals.

Institutional clients:
One of the firm’s core specialisms is meeting the requirements of institutional clients. The firm primarily acts as permanent advisers to trust companies, banks, insurance companies, asset management companies and family offices. The work for institutional clients covers the full spectrum of corporate, foundation and trust issues, due diligence obligations, regulatory matters, general contract issues, civil liability, employment matters and corporate governance.

The firm’s experts can review the client’s mandates, recommend courses of action, draft legal opinions, prepare minutes and resolutions and represent the client’s organisation, or the entities they manage, in court or in dealings with the public authorities.

General capital-markets law:
The capital markets are highly dynamic and present a number of complex legal issues that need to be addressed. The firm regularly provides guidance on challenging capital-market issues. It keeps abreast of the latest legal developments, delivering leading-edge advice across all aspects of capital-markets law. That means it can advise, for example, on matters relating to issuing and trading in investment instruments, draft bond terms and prospectuses, provide payment services or assist with general issues of company or securities law. Its clients include trust companies, banks, insurance companies, asset management companies, investment funds and pension funds.

The firm can help clients with incorporation, corporate structuring, corporate financing, issuing and purchasing financial instruments and enforcing their rights against issuers. Furthermore, it can assist them in formulating joint solutions with supervisory bodies (e.g. FMA).

Corporate governance and compliance:
Successful businesses call for sound, responsible management and governance. The firm can assist with corporate governance matters and with meeting due diligence obligations, i.e. compliance issues. Together with its clients, the firm will devise effective management and control structures and risk management systems as well as prepare internal guidelines and rules of conduct.

The firm can advise senior management on the conduct of business and carry out due diligence prior to mergers and acquisitions. Its expert team is also on hand to assist in complying with regulatory requirements and advises on anti-money laundering and market abuse matters.

Financial market supervision:
The firm’s broad-based expertise encompasses regulatory matters and the full spectrum of legal issues affecting financial services. It can assist in obtaining licences from the Liechtenstein Financial Market Authority (FMA), for example to set up trust companies, banks, insurance companies, asset management companies and pension funds.

The clients will benefit from the firm’s expert knowledge of regulatory compliance in relation to due diligence obligations, risk management and corporate governance. The firm can provide advice, make enquiries, prepare legal opinions on regulatory issues and represent you in regulatory proceedings before the courts or public authorities.

Due diligence:
The financial sector has changed in recent years in response to globalisation, digitisation and legislative amendments. As a Liechtenstein law firm, the firm keep client’s fingers on the pulse of international financial markets. Due to the firm’s market proximity, it has the requisite knowledge and skills to advise its clients on the full spectrum of due diligence matters. The firm provides advice to a range of clients, including banks, trust companies, insurance companies and other financial intermediaries, on day-to-day due diligence issues as well as anti-money laundering and insider trading.

In consultation with clients, the firm can review and structure their due diligence documentation (contracting partners, beneficial owners, business and risk profiles, etc.). Furthermore, it can assist with fiduciary operations and international financial transactions and provide advice on the commencement and ongoing monitoring of business relationships. It can also support clients regarding money laundering offences, judicial-assistance procedures and disclosing information to the FIU as well as perform company due diligence in relation to mergers and acquisitions. Alongside ongoing, day-to-day advice, the firm can prepare legal opinions on due diligence issues and act on client’s behalf in dealings with the public authorities and in court.

Tax and international mutual assistance:
Representing client’s interests to the fullest extent is the firm’s top priority. This is equally true of its tax practice. The firm can provide comprehensive advice across the entire range of tax matters, including tax planning, traditional tax advice, for example in relation to sales, commercial and international transactions, business establishment and relocation as well as taking up residence in Liechtenstein.

Tax issues regularly arise in a variety of circumstances, for instance in the context of succession planning and wealth structuring. The firm can inform clients of any applicable double-taxation agreements or agreements facilitating the international exchange of information (AEOI, TIEA, FATCA, etc.) and find tailored solutions for them. Where required, clients will also have access to the firm’s international network of tax specialists in other jurisdictions.

International private law:
Questions regarding cross-border issues? The firm can undertake an assessment of matters with international or cross-border elements. As part of its service, the firm can recommend courses of action, provide legal opinions on issues of international jurisdiction of the courts, applicable law and the recognition and enforcement of decisions by foreign courts and arbitration tribunals.

The firm also provides confirmation to foreign courts and public authorities as to the lawful existence of Liechtenstein companies, their powers of representation and their capacity to enter into legal commitments, either in general or in relation to specific cases.

Civil liability:
The firm’s expert team is on hand to help with the full spectrum of civil liability, insurance and tort matters. The firm can undertake an assessment of the liability risks associated with running a business or production facility, or with creating a product, and suggest ways to eliminate these risks. Furthermore, it can prepare legal opinions on liability issues.

The firm can help enforce the client’s rights in relation to personal injury, damage to property or financial loss caused by accidents, sickness, construction faults, defective work, medical negligence, malpractice or incorrect advice. In addition, it can act for the clients in out-of-court negotiations and in bringing or defending actions for damages.

Law of obligations and contract law:
A contract is only as good as the expertise and drafting skills of the lawyer preparing it. The firm’s team has many years’ experience of dealing with all aspects of contract law and will be happy to put this expertise at client’s disposal.

The firm drafts all types of legal contract, including real estate agreements (purchases, sales, preferential rights to purchase, purchase options, gifts, exchanges, building rights, easements, alterations, memoranda of understanding, contracts for work and services, general contractor agreements, establishing condominium ownership, etc.), contracts of sale, tenancy agreements, contracts of employment, agreements governing the distribution of estates, partnership agreements, shareholders’ agreements and other special types of debt contract (deeds of assignment, loan agreements, gratuitous-hire agreements, etc.). It can also draft innominate contracts, such as cooperation agreements and framework agreements, in line with client’s individual requirements.

In addition, the firm can assist in enforcing contractual rights, for example in terms of contract performance, avoidance, warranties or indemnification. It can also prepare legal opinions on issues relating to the law of obligations and represent clients in contractual disputes brought before the courts.

Debt enforcement and bankruptcy:
The clients can count on the firm’s expert legal team to help them secure claims and enforce debts. It can assist with payment reminders and procedures in the event of non-payment, obtaining payment orders and injunctions to safeguard claims. Furthermore, it can guide the clients through the entire enforcement process, whether they are in possession of a public document (e.g. a foreign judgement) or a private acknowledgement of debt.

The firm can assist with execution, including the enforcement of judgements, obtaining payment orders, orders to set aside a debtor’s objections, arbitration awards, etc., and represent the clients in execution proceedings. In addition, it can advise on the full range of bankruptcy matters, representing the clients in bankruptcy proceedings and assisting in the enforcement of their rights. The firm can support in the process of registering claims and taking legal action to recover debts. Besides, it can act in an official capacity as liquidator or trustee in bankruptcy.

Estate and succession planning:
When it comes to wealth and succession planning, clients can rely on the firm’s legal experts to guide them through all the issues involved. Its team has considerable expertise and experience in succession matters and can assist with preparing wills, agreements as to succession and deeds of gift.

The firm’s customised wealth planning services cater for individuals, family offices and businesses and include advice on building and optimising asset structures, such as foundations and trusts, as well as business organisation.

The firm represents heirs or legatees in probate proceedings before national courts and public authorities, settle disputes between heirs, draft agreements governing the distribution of estates and act as executors and trustees in relation to estates. In addition, the firm can act for its clients in contentious matters and enforce their right to an inheritance or an obligatory share in an estate.

Reorganisation and insolvency:
When a business runs into financial difficulties, it is crucial to obtain expert support and guidance. If client’s business is facing financial problems and they need to explore reorganisation or debt restructuring options, the firm’s experts are on hand to advise and support. The firm can help to secure and restore the financial viability of client’s business, negotiate with creditors with regard to postponement of payments, enforcement measures and debt reduction, and negotiate with banks and the company’s management throughout this period.

Furthermore, the firm can provide comprehensive advice to creditors or traders affected by the insolvency of a business partner. This means it can defend client’s rights prior to an adjudication of bankruptcy (upon assessment of insolvency, notification of the court, filing the bankruptcy petition, etc.) and also at the claim verification or enforcement stage once bankruptcy proceedings have commenced (actions to segregate assets and establish ownership, netting, contract performance, schedule of claims procedures and legal challenges, etc.).

Clients can also benefit from the firm’s extensive experience in preparing expert reports: the firm can provide legal opinions on insolvency issues, including netting, and can act as liquidator or trustee in bankruptcy, where required.

Criminal law:
Criminal law is a distinct and wide-ranging branch of law in which the firm’s team has extensive experience and expertise. As criminal-law specialists, they can advise on all aspects of criminal law and procedure. Clients can rely on its experts to represent them in criminal proceedings before the courts or public authorities (police force, public prosecutor, FIU, FMA, tax authorities, etc.), whether clients are a complainant, defendant, the victim of an offence or a party bringing or joining criminal proceedings.

Alongside general criminal law (e.g. assault and battery, fraud, money laundering, defamation, bankruptcy offences), the firm has developed particular expertise in administrative criminal law (e.g. breaches of due diligence obligations, market abuse), white-collar crime (e.g. seizure of documents and assets, freezing of accounts), tax offences and administrative and judicial-assistance procedures. Furthermore, the firm can assist victims of fraud in tracing their assets.

White-collar crime & international judicial assistance:
Conducting business is becoming more and more complex in the globalised world, involving a number of legal risks. It is therefore reassuring to know that experts are on hand to advise on all white-collar crime matters and any related administrative and judicial-assistance procedures.

The firm represents complainants, injured parties, defendants or parties to proceedings before national courts and public authorities. Furthermore, it assists victims of fraud to trace stolen assets and help to enforce claims under private law.

The firm can also advise clients and their company across the full spectrum of business crime matters as well as anti-money laundering measures, due diligence issues, regulatory matters, corruption, market abuse, insider trading, bankruptcy offences, asset freezing and a range of other issues. Drawing on its substantial experience in international judicial assistance, the firm will safeguard client’s rights and represents them in court in relation to any criminal matters.

Administrative law:
Administrative law governs all legal relationships between the government, municipalities, public authorities and citizens. The firm can provide advice to private individuals, municipalities or public authorities on any administrative issues affecting them. Clients can have full confidence in the firm’s ability to handle trade, industry and corporate matters, rules governing the professions, financial markets, tax, health, immigration, issues relating to schools and government and municipal matters.

The firm also represents clients in all administrative proceedings in relation to agencies, commissions, the government or the Administrative Court of the Principality of Liechtenstein (Verwaltungsgerichtshof des Fürstentums Liechtenstein).

Constitutional law:
The firm’s team boasts a wealth of experience and expertise in constitutional law. The experts advise and represent clients across the full spectrum of constitutional and international law issues, including assessing the constitutionality of legal acts and other matters, preparing legal opinions and providing ongoing advice to municipalities and public authorities.

Clients can rely on the firm to assist them in filing individual complaints to the State Court of the Principality of Liechtenstein (Staatsgerichtshof des Fürstentums Liechtenstein), which is the constitutional court responsible for reviewing decisions or orders in the last instance issued by national courts or public authorities with respect to compliance with the Constitution or the European Convention on Human Rights.

EEA and EU law:
The Principality of Liechtenstein has been a member state of the European Economic Area (EEA) since 1995 and thus has full access to the EU Single Market. This market access makes Liechtenstein highly attractive as a place to do business for many national and international companies. If a company is looking to do business in Liechtenstein, clients can rely on our firm to provide expert advice on all aspects of EEA and EU law.

The firm can also advise individuals on professional, employment and tax matters as well as immigration and other issues affecting foreign nationals.