By Peter Pabisch

While German Life has featured Liechtenstein a few times (the last in 2020), I hope what I share here may be new to some of our readers. Millionaires may be interested in keeping Liechtenstein a secret because of its special banking laws. Banking is so lucrative in this little country that it represents the second highest per capita income in Europe after Monaco on the French Riviera, around some $ 110,000 a person per year, thus quite ahead of the U.S. and other wealthy nations. It is astounding that this picturesque, idyllic principality with its beautiful mountains and rivers—like the Central Alps and the river Rhine—does not advertise its tourism like its larger neighbors of Switzerland to the west and Austria to the east, even though its scenic beauty is quite inviting.

How does this little state find international acclaim? First let us consider that there are little more than a handful of such self-governing statehoods in Europe whose economy is partially joined with larger neighboring countries. Take for example Vatican City in Rome, San Marino in the Apennine Mountains of Italy, Andorra in the Pyrenees between Spain and France, or Monaco bordered on three sides by France. (Monaco is reputed to have the highest per capita income in Europe at $242,000 in 2022.)

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