Launch and Scale in Luxembourg, Liechtenstein and Switzerland with Clear Rules and Stable Regulation

Luxembourg is an EU member state with a fully passportable regime for funds, fintech and now crypto asset services under MiCA. The Law of 6 February 2025 implements MiCA and the EU Green Bond Regulation and designates the CSSF as the competent authority for Crypto-Asset Service Providers (CASPs), on top of the existing VASP registration framework under AMLD5. This makes Luxembourg relevant if you are building tokenised or crypto-exposed fund products (RAIF, SIF, SICAV, SLP), regulated payment and e-money businesses, or MiCA-authorised exchanges and custodians targeting EU professional and retail investors. Corporate taxpayers face an effective rate around 25 % in Luxembourg City, with full access to the EU directives network and a dense fund administration and banking ecosystem.

Liechtenstein is in the EEA and applies EU financial services law, with MiCA to be incorporated into the EEA framework so that CASP authorisations will be passportable across the single market. Since January 2020, the Token and Trusted Technology Service Providers Act (TVTG, the “Blockchain Act”) has provided a technology-neutral token container model and a registration regime with the FMA for TT service providers that cover custody, exchange, token issuance and related services. Combined with a 12.5 % flat corporate income tax rate and access to EEA financial passports, Liechtenstein is typically used for tokenised equity and debt structures, compliant on-chain registries, custody entities and high-end wealth and family office web3 projects that need both EEA access and bespoke token legislation.

Switzerland is outside the EU but has a mature, stand-alone regulatory framework for digital assets. The DLT Act, in force since 2021, amended the Code of Obligations, Financial Market Infrastructure Act and insolvency rules to allow ledger-based securities, DLT trading facilities and clearer treatment of custody and bankruptcy for digital assets. FINMA’s 2018 ICO guidelines remain the reference point for token classification into payment, utility and asset tokens and for determining when banking, securities dealer or collective investment rules are triggered. In practice, Switzerland is used for protocol foundations and associations, non-profit or ecosystem vehicles and operating companies in cantons such as Zug and Zurich, where the combined corporate tax burden typically ranges from about 12 % to 21 % depending on location.

Across Luxembourg, Liechtenstein and Switzerland we help tech, fintech and web3 clients decide which hub fits their product, investor base and risk profile, then implement the structure: selecting the vehicle, mapping MiCA, TVTG or Swiss DLT / FINMA touchpoints, coordinating local counsel on licensing and registrations and drafting the cross-border corporate, token and governance documentation so that the group is bankable and regulator-ready from day one.